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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

61. An incompetent person: a.  is of unsound mind.   b.  cannot individually contract. c.  must have court approval to contract. d. all of the answers are correct.

57. Which of the following are considered non-institutional lenders? a.  Private lenders           b.  Mortgage companies c.  Credit unions d.  All of the answers are correct

18. The market data method (comparison approach) is the most common approach for: a.  houses.                                                                            b.  condos.                                                                             c.  vacant land. d. all answers are correct.

85. Mello-Roos liens: a.  require a seller and/or salesperson to disclose.               b.  are municipal bonds.            c.  usually fund street improvements. d.  all of the answers are correct.

84. A fee estate that is subject to particular limitations imposed by the grantor of the estate is called. a.  a restricted fee estate.            b.  an imperfect fee estate.      c.  a fee simple defeasible estate d.  none of the answers are correct.

71. In a trust deed, the beneficiary is the: a.  escrow. b.  third party.       c.  lender. d.  borrower’s spouse.

78. Which of the following would best describe an open listing? a.  Bilateral contract                 b.  Illegal in California    c.  Nonexclusive d.  Exclusive