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38. When the Federal Reserve wants a “loose” money market, it: a.  buys back bonds.      b.  lowers the discount rate.       c.  lowers the reserve requirements of banks. d.  all of answers are correct.

30. When an improvement is permanently attached to real property it becomes: a.  private property.                   b.  personal property.                c.  real property. d.  none of the answers are correct.

16. Which of the following is NOT an essential element of a real estate contract? a.  Cash     b.  Mutual consent         c.  Capacity         d.  Proper writing

32. A required form, provided by the seller, which identifies items of value attached to the structure or land and states whether these items are operational, is called a(n): a.  operational form. b.  list of items working. c.  transfer disclosure statement. d.  none of the answers are correct.

49. When a residential tenant vacates a residential rental unit, the landlord has how long to return any unused portion of the tenant’s security deposit? a.  15 days                        b.  20 days                       c.  21 calendar days d.  45 calendar days

20. How many square feet are in 1 acre? a.  38,304                 b.  43,560 c.  38,416 d.  41,560

50. A legal document that informs the tenant that he/she has three straight days to pay all past due rent, vacate the premises, or face an unlawful detainer court action is known as a(n): a.  court order. b.  3-day notice to pay rent or quit. c.  eviction notice. d.  none of the answers are correct.

43. Which of the following can discharge a contract? a.  Impossibility of performance b.  Full performance c.  Operation of law d.  All answers are correct

39. A person who is judged to be of unsound mind is known as a(n): a.  loony. b.  minor. c.  incapacitated youth. d.  incompetent.

 8. A broker who mixes personal funds with his or her principal’s funds is guilty of: a.  false promise. b.  commingling.  c.  divided agency. d.  conversion.