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Real Estate

TEST 22

admin 2019.03.27 00:18 Views : 224

1 of 10 - Lisa has had her California real estate license suspended for violations involving mobile homes under the California Business and Professions Code. What could she have possibly done?
Submitted a check to the State of California for mobile home fees and the check was not honored.
Knowingly participated in the sale of a stolen mobile home.
Unknowingly participated in the purchase of a stolen mobile home.
 
Both A and B
You answered correctly
2 of 10 - What is required by a notary of the person signing the notarized document?
A thumbprint of the person signing the document.
A right thumbprint of the person signing the document.
 
A right thumbprint of the person signing the deed, quitclaim deed, or deed of trust affecting real property.
A thumbprint of the person signing the deed, quitclaim deed, or deed of trust affecting real property.
You answered correctly
3 of 10 - Howard, a licensee, has heard about a specialized area of real estate brokerage--the mineral, oil, and gas brokerage. Howard is trying to find his niche in the industry and believes this is the direction in which he needs to head. What specialized license does Howard need to work with mineral, oil, and gas transactions?
He must obtain a Mineral, Oil, and Gas brokerage certification in addition to his real estate salesperson license.
He must obtain a securities license to work with Mineral, Oil, and Gas transactions in addition to his real estate salesperson license.
 
Howard does not need a specialized license to work with Mineral, Oil, and Gas transactions.
 
Both A and B
You answered incorrectly
Since 1994, a real estate licensee who is interested in focusing on mineral, oil, and gas transactions does not need a specialized license to work with MOG transactions. If someone was licensed as a MOG broker before 1994, his license can continue to be renewed and remain valid, but there are NO new licenses issued.
4 of 10 - Sally, a licensee, has been asked to be the sales agent for a company selling new mobile homes. Can she sell these new mobile homes? If not, what sort of mobile homes can she sell?
Sally may not sell new mobile homes, but she may sell used mobile homes. She would have to become licensed by the California Department of Housing and Community Development to sell new mobile homes.
 
Sally may not sell new mobile homes, but she may sell used mobile homes, if they have been registered with the State of California and are on a lot. She would have to become licensed by the California Department of Housing and Community Development to sell new mobile homes.
 
Sally is a licensed real estate salesperson in the state of California. She may sell any real property she is assigned to sell.
None of the Above
You answered incorrectly
Real estate licensees must not sell new mobile homes but may sell used mobile homes that are already registered with the State of California and are on a lot or in a mobile home park.
5 of 10 - Which of the following is an action taken by a Mineral, Oil, and Gas specialist on behalf of others?
Solicit borrowers or lenders for or negotiate loans on mineral, oil, or gas property
Lease or offer to lease or negotiate the sale, purchase, or exchange of leases on mineral, oil, or gas property
 
Assist another in filing an application for the purchase or lease of, or to locate or enter upon mineral, oil, or gas property owned by the state or federal government.
 
All of the Above
You answered incorrectly
For compensation, an MOG specialist sells, buys, solicits prospective sellers or buyers of mineral, oil, or gas property; solicits borrowers or lenders for mineral, oil, or gas property; leases or negotiates the sale, purchase, or exchange of leases on mineral, oil, or gas property; assists others in filing applications for the purchase or lease of or to locate or enter upon mineral, oil, or gas property owned by the state or federal government.
6 of 10 - Cheryl and Troy are closing on their home on Tuesday. Their brokerage represents the GoodHome Insurance Company. The couple have not yet decided what company will be handling their homeowner's insurance. Are they obligated to use GoodHome due to its affiliation with the brokerage?
They are not exactly obligated to use the insurance company represented by the brokerage; however, it would make all of the paperwork and closing more efficient.
 
No, they are not obligated to use any services recommended by the broker or agents licensed to the broker. Choosing a source of insurance is ONLY the client's choice.
Yes, if they are going to use the brokerage they must use the broker's affiliates.
None of the Above
You answered correctly
7 of 10 - Samantha and Todd live in a mobile home park. They have lived in the park for five years and have never been late on their rent, utilities, or any other bills. Today the mobile home park landlord has terminated their tenancy. Which of the following is not a justifiable legal reason why this couple might have been evicted?
 
The park had become overcrowded.
They did not follow rules and regulations.
 
They had become a substantial annoyance to other tenants.
They failed to sufficiently maintain their property to meet management’s standards.
You answered incorrectly
In California, a mobile home park landlord may terminate tenancy if the tenant does not comply with state and local laws, becomes a substantial annoyance to other tenants, does not follow rules and regulations, or if the mobile home is not kept in a reasonable state of repair.
8 of 10 - What is the major difference between the real estate business in general and a real estate brokerage?
 
The general real estate business consists of production, marketing, and financing of real property; a brokerage is directed primarily toward the sale, exchange, lease, rental, and financing for compensation.
The brokerage business consists of production, marketing, and financing of real property; the general real estate business is directed primarily toward the sale, exchange, lease, rental, and financing for compensation.
 
Both A and B
None of the Above
You answered incorrectly
The real estate business consists of the production, marketing, and financing of real property, but the real estate brokerage is slightly different because it involves the agency that is directed primarily toward the sale, exchange, lease, rental, financing, or managing of real property or a business opportunity, for compensation.
9 of 10 - What are the steps to convert a mobile home into real property, if it is possible?
Obtain a building permit and place the mobile home on a permanent foundation. Also, a document stating the mobile home has been attached to a permanent foundation must be recorded.
It is not possible to convert a mobile home into real property.
 
Obtain a building permit; place the mobile home on a permanent foundation and obtain a Certificate of Occupancy. Also, a document stating the mobile home has been attached to a permanent foundation must be recorded.
 
Place the mobile home on a permanent foundation and obtain a Certificate of Occupancy. Also, a document stating the mobile home has been attached to a permanent foundation must be recorded.
You answered incorrectly
To convert a mobile home into real property, the owner must obtain a building permit, must place the mobile home on a permanent foundation, must obtain a Certificate of Occupancy, and must record a document stating the mobile home has been attached to a permanent foundation.
10 of 10 - Saffron and Serge have a mobile home in which they travel from city to city, town to town, selling pottery and playing music. One week they may be in Berkeley, the next Sacramento. The couple travel wherever their mobile home will take them. Which of the following is true?
By the definition of the California Health and Safety Code, this couple’s ‘mobile home’ is not, in fact, a mobile home.
The mobile home can be sold by a real estate licensee as real property, since it constitutes a dwelling unit.
 
To become real property, their mobile home must have a permanent foundation.
 
Saffron and Serge cannot legally occupy the mobile home without a Certificate of Occupancy.
You answered incorrectly
Under the California Health and Safety Code, a mobile home is a permanent living unit or vehicle designed and equipped to contain no more than two dwelling units and to be used without permanent foundation. To become real property, the mobile home must be placed on a permanent foundation.

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