20 Free California Real Estate Practice Questions

Question 1

Ana and Ben hold title to a California home as joint tenants. Ana dies, and her will leaves all of her property to her son. Who owns the home now?

Question 2

A city adopts a zoning ordinance that limits a neighborhood to single-family homes. The affected owners receive no payment. Which government power is the city using?

Question 3

The owner of Lot A holds a recorded easement to use a driveway across the neighboring Lot B to reach the street. What is Lot B called?

Question 4

A homeowner signs a listing agreement authorizing a broker to find a buyer for her house. What type of agent is the broker in this relationship?

Question 5

A listing agent is meeting with a seller of a single-family home. When must the agent give the seller the Agency Disclosure form?

Question 6

A broker is a dual agent with the written consent of both the buyer and the seller. The seller privately tells the broker she would accept $20,000 less than her asking price. The buyer then asks the broker whether the seller would take less. What should the broker do?

Question 7

An appraiser is valuing a home that has no swimming pool. A comparable home nearby sold for $650,000 and has a pool that the appraiser values at $20,000. What is the adjusted sale price of the comparable?

Question 8

An apartment building produces net operating income (NOI) of $84,000 per year. Similar properties sell at a 7% capitalization rate. Using the income approach, what is the building's estimated value?

Question 9

A new elevated freeway is built right next to a well-maintained house, and the noise lowers the home's value. In the cost approach, what type of depreciation is this?

Question 10

A buyer finances a California home with a loan secured by a deed of trust. What is the lender called in this arrangement?

Question 11

A lender forecloses on a California home through a non-judicial trustee's sale under the deed of trust's power of sale. The sale brings in $40,000 less than the borrower owed. Can the lender get a deficiency judgment for the $40,000?

Question 12

Which type of deed is most commonly used to transfer title to real property in California?

Question 13

A buyer purchases a California home for $800,000, and that becomes its assessed value. There is no change in ownership or new construction the next year. Under Proposition 13, what is the highest the assessed value can be for the following year?

Question 14

A salesperson receives a buyer's earnest money check. The buyer has given no written instructions to hold it uncashed. Within what time must the funds be placed in the broker's trust account, given to the principal, or given to the escrow holder?

Question 15

A consumer wins a $90,000 court judgment against a licensee for fraud in a single transaction. After reasonable efforts to collect, the consumer cannot collect anything. What is the most the consumer can recover from the Real Estate Recovery Fund for this transaction?

Question 16

An owner lives in one unit of her fourplex. Without using a real estate licensee or any advertising, she refuses to rent a vacant unit to an applicant because of the applicant's race. Which statement is correct?

Question 17

A tenant moves out of a California apartment. Within how many days after the tenant moves out must the landlord return the security deposit, along with an itemized statement of any deductions?

Question 18

A buyer signs an offer on a single-family home. The seller's Transfer Disclosure Statement (TDS) is then delivered to the buyer by mail. How long does the buyer have to rescind?

Question 19

A seller signs a listing agreement with a broker. During the listing term, the seller finds a buyer on her own, with no help from any broker. The broker is still owed a commission. What type of listing did the seller sign?

Question 20

A California residential purchase agreement for an owner-occupied home contains a liquidated damages clause. Which of the following is required for that clause to be enforceable?