This is a timed quiz. You will be given 60 seconds per question. Are you ready?
This is the best answer choice. However, as a matter of best practice, the seller’s agent is to explain to the seller their obligation to accurately complete their portion of the Transfer Disclosure Statement (TDS).
This is the only the answer selection which meets all the requirements set forth in the question. Options and contracts both obligate the seller and stipulate an agreed to price. A right of first refusal is a pre-emptive right to buy a property if the owner decides to sell.
The Unruh Act is California specific. The Civil Rights Act of 1964 is in reference to voting rights legislation. Thus, the correct answer is A. Civil Rights Act of 1968. Notice the Civil Rights Act of 1968 has been addressed in several previous questions, which may be helpful when answering this question.
A grace period lasts two years in which a licensee by process of a late-renewal may reinstate their license
When the tenant relinquishes possession by mutual agreement with the owner, it is referred to as surrender. Alternatively, if the tenant relinquishes possession with no intent of returning and without the agreement of the owner, it is called abandonment.
Just as with a personal checkbook, a trust account needs to balance.
A resident manager who performs, orders, or oversees maintenance or repair projects costing $500 or more are subject to contractor licensing requirements issued by the California Department of Consumer Affairs Contractors State Licensing Board (CSLB).
The abandonment of real property requires having no intent to continue meeting the obligations of a lease or occupying the property
The statutory Transfer Disclosure Statement (TDS) only comments on conditions within the property itself. However, criminal activity occurring near the property is a material fact which must be separately disclosed.
This question provides a good source of information about the activities that can be performed by unlicensed assistants that can be used in future questions on this topic.
Due diligence is a positive effort to work for the client’s best interest. A conflict of interest imposes a bias that makes it difficult to work solely for the client’s best interest.
The key word in the question is “earned.” When the buyer who is ready, willing, and able has been found, the commission is earned. Another question might ask “when” the commission is generally received, which is the close of escrow.
All of the listed activities are violations which are subject to disciplinary action.
This is a Fair Housing question. Envision a sales agent “steering” the potential buyer away from neighborhoods the buyer might wish to see.
This is a terminology question. An interpleader action is a legal process asking the court to resolve the dispute between the principals.
Due to the fact the tenant moved in and began paying rent, these activities signifying periodic tenancy take precedence over the verbal lease agreement.
An employing broker is liable for any wrongful act conducted by their employee.
Gender is among the protected groups described in the Civil Rights Act of 1968
A sublease is less than a complete transfer of a leasehold interest subject to the terms of the master lease. The original lessee retains certain obligations and acts in a capacity similar to the lessor in relation to the sublessee.
Standard rental agreements contain a covenant obligating the lessor (landlord) to allow a tenant to live free of harassment and benefit from the quiet enjoyment of their property.
This question is phrased in the negative. Answer selections A, C and D render the rental property uninhabitable. The electrical wiring (a significantly longer answer and more detailed answer selection), does not trigger the inhabitable defense since it is safe and functional even though it does not meet current building codes.
Only trade fixtures belong to the tenant as personal property and are to be removed by the tenant on the termination of the lease.
Many disclosure laws target one-to-four unit residential properties as a protected class of real estate. As the Transfer Disclosure Statement (TDS) form is completed by a seller regarding known facts, it is not required in the instance of a foreclosure. Further, commercial property transactions require the disclosure of property defects affecting value, but the statutory TDS form is not required
Can you visualize exceptions that would make answer selections A and B incorrect? For instance, some walkways may be narrower than five feet or made of asphalt. Answer choice D cannot be correct, as the homeowners’ association (HOA) within a condominium community is responsible for the maintenance of common areas and facilities. Thus, C is the best option as public walkways always exist in a common area in an HOA community.
