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45. In a sale-leaseback, the original property owner: a.  evicts his or her tenant.                b.  loses money.             c.  becomes the lessee. d.  none of the answers are correct.

59. The nominal interest rate is: a.  the effective interest rate.     b.  compounded daily.   c.  a guarantee of negative amortization. d.  stated on the note.

95. A Federal Estate tax return must be filed for any U.S. resident whose gross estate exceeds: a.  $10,000,000.                         b.  $5,000,000.                c.  $1,000,000. d.  all of the answers are correct.

35. Which advisory form reminds the buyer and seller of the importance of investigating a property before the sale? a.  Residential Listing Agreement (RLA)                              b.  Natural Hazard Disclosure Statement (NHD)                              c.  Statewide Buyer and Seller Advisory (SBSA)   d.  None of the answers are correct

63. The cost approach is most effective: a.  at finding similar comparable properties.              b.  with new, unique, or special purpose buildings.               c.  for properties that generate income. d.  all of the answers are correct.

55. Which of the following statements constitutes an example of progression? a.  A home of greater value is worth more when located among homes of lesser value. b.  A home of greater value is worth less when located among homes of lesser value. c.  A home of lesser value is worth less when located among homes of greater value. d.  A home of lesser value is worth more when located among homes of greater value.

50. The fundamental goal of the California Housing Finance Agency (Cal HFA) is to: a.  subsidize rents for low income renters.                     b.  provide funds for low-income family housing.                  c.  help minority buyers obtain financing for new home purchases. d.  make funds available for residential loans in distressed areas.

62. An “REIT” is a: a.  real equity interest trust.                   b.  real estate investment transfer.                                                                  c.  residential encouragement involving trusts. d.  real estate investment trust.

19. What is the section in the Residential List Agreement (Exclusive Authorization and Right to Sell) that can entitle a broker to a commission even after the termination of the listing? a.  Safety Clause              b.  End of Listing Clause c.  Broker Entitlement Clause       d.  All answers are correct

76. Which of the following is an important tax date to remember? a.  November 1                b.  December 10                                     c.  February 1 d.  All of the answers are correct