Blog

31. A contract to employ a broker as an agent, to do certain things for the owner/seller, is known as a(n): a.  employment contract. b.  power of attorney. c.  listing. d.  agency.

41. You promise to pay a painter $2,000 to paint your house and the painter agrees to do it.  What type of contract is formed? a.  Unilateral contract b.  Implied contract c.  Void contract d.  Bilateral contract

42. In a contract, anything of value given by one party to another party to make the agreement binding is known as: a.  a gift. b.  consideration. c.  a deposit. d.  none of the answers are correct.

26. Real estate laws in California apply to: a.  1- to 4-unit residential property. b.  commercial property. c.  vacant land. d.  all answers are correct.

8. Anything permanently attached or affixed to the land is called: a.  fixtures. b.  real property. c.  personal property. d.  attachments.

27. What’s included in the Residential Listing Agreement (RLA) that may allow a broker to collect a commission even after the termination of the listing? a.  Penalty Clause b.  Safety Clause c.  Restrictive Clause d.  Termination Clause

25. The steps of agency disclosure include: a.  disclose. b.  elect. c.  confirm. d.  all answers are correct.

11. A signed or verbal statement by the named person that he/she has signed that document of his/her own free will is known as: a.  verification. b.  acknowledgment. c.  recording. d.  actual notice

13. All property acquired by a husband and wife during their marriage other than separate property is called: a.  community property. b.  combined property. c.  inheritances. d.  community goods.

49. Providing the landlord with funds to pay for damages or unpaid rent when the tenant vacates is called a: a.  security deposit. b.  vacating fee. c.  trust account. d.  goodwill.