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29. The Real Estate Commissioner: a.  replaces a court of law.                   b.  gives legal advice.                 c.  enforces the Real Estate Law. d.  all answers are correct.

23. Installment sales and exchanges have as their primary purpose: a.  tax postponement.                b.  passing property to heirs.     c.  tax deduction. d.  none of the answers are correct.

73. The acronym “CLTA” stands for: a.  California Landlord Tenant Association.    b.  California Land Title Association.   c.  Community Lease Transaction Account. d.  California Land Tax Association.

94. The “Pest Control Inspection Report and Certification” is also called the: a.  structural damage inspection.                     b.  foundation condition inspection.             c.  termite inspection. d.  none of the answers are correct.

97. What is the term used when a person leasing a property remains after the expiration of the stated term? a.  Estate for years          b.  Estate from period-to-period c.  Estate at will d.  Estate at sufferance

27. A condominium does NOT have: a.  a separate grant deed.         b.  a separate trust deed. c.  private ownership of land and improvements. d.  a separate tax bill.

13. Which of the following is NOT a method to establish a real estate broker agency? a.  Secret ballot         b.  Implied authority                   c.  Ratification     d.  Estoppel

37. A lien placed on more than one parcel, all parcels having the same owner, is known as a: a.  full lien. b.  blanket encumbrance.          c.  multi-tract lien. d.  none of the answers are correct.

34. Which of the following is TRUE concerning negotiable instruments? a.  They are easily transferable from one person to another. b.  Promissory notes are considered negotiable instruments. c.  The most common example of a negotiable instrument is a personal check. d.  All answers are correct.

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.