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5. For about how much assessed value is the Homeowner’s Property Tax Exemption? a.  $1,000                        b.  $7,000            c.  $2,000 d.  $200  

34. The person who hires or employs an agent to work for him or her is known as a(n): a.  employer. b.  contractor. c.  principal. d.  third party.

42. The seller must provide the buyer of a condominium with: a.  the CC&Rs.                 b.  the bylaws.                 c.  a copy of the most recent financial statement. d.  all of the answers are correct.

40. You enter the coffee shop next door where you have an account, pour yourself a cup of coffee, hold it up to show the manager, and wave as you leave the store. This would be an example of a(n): a.  privilege. b.  express contract. c.  implied contract. d.  stealing.

48. The amount of money paid for the use of a property is known as: a.  booty. b.  rent. c.  dues. d.  fees.

36. The disclosure that reminds buyers and sellers of the importance of investigating a property before the sale is known as the: a.  Disclosure Regarding Agency Relationship. b.  Statewide Buyers and Seller Advisory. c.  National Hazard Disclosure. d.  None of the answers are correct.

35. When a person misrepresents a material fact, knowing that it is not true, or is carelessly indifferent to the truth of the stated facts, it is known as: a.  puffing. b.  lying. c.  fraud. d.  none of the answers are correct.

4. The area of a rectangular lot that is 50 feet wide by 100 feet deep is: a.  2,500 sq. ft.           b.  500 sq. ft.        c.  5,000 sq. ft. d.  50,000 sq. ft.

28. An authorization to sell a property which may be given to several brokers, or the property may be sold by the owner, is called: a.  free-for-all. b.  non-exclusive listing. c.  general property listing. d.  open listing.

45. If a tenant does NOT leave after the expiration of the lease and retains possession, what has occurred? a.  Hostage possession b.  Reversionary right c.  Estate at sufferance d.  None of the answers are correct