California Real Estate Salesperson Exam Flashcards

150 multiple-choice questions.

70 percent — you must correctly answer at least 70% of the questions.

$100.

At least 105 — 70% of 150 questions.

The duty an agent owes a principal — care, obedience, loyalty, disclosure, accounting, and confidentiality (remembered as OLD CAR).

Real property is land and things permanently attached to it (fixtures); personal property (chattel) is movable and not attached.

A non-possessory right to use another person's land for a specific purpose (e.g., a right-of-way). It runs with the land if appurtenant.

A neutral third party holds funds and documents until all conditions of the sale are met, then disburses and records.

Acquiring title by open, notorious, hostile, continuous possession of another's land, plus payment of property taxes, over a statutory period.

That the grantor has not already conveyed the property to another and that the property is free of undisclosed encumbrances made by the grantor.

Any claim, lien, charge, or restriction on a property that may affect its value or use (e.g., mortgages, easements, deed restrictions).

Joint tenancy carries the right of survivorship (share passes to co-owners at death); tenancy in common does not, and shares can be unequal.

The gradual repayment of a loan through periodic payments of principal and interest; a fully amortized loan reaches a zero balance at the end of the term.

Recording gives constructive (public) notice of ownership, establishes priority of claims, and protects the buyer against later claims.

Joint tenancy carries the right of survivorship (a deceased owner's share passes to co-owners); tenancy in common has no survivorship and shares can be unequal and separately inheritable.

The agent's legal obligation to act in the principal's best interest — duties of care, loyalty, obedience, disclosure, confidentiality, and accounting.

A deed transfers title to real property. It must be in writing, name grantor and grantee, contain a granting clause, describe the property, and be signed by a competent grantor and delivered/accepted.

A grant deed includes implied warranties (that title hasn't been conveyed to another and is free of undisclosed encumbrances); a quitclaim deed transfers only whatever interest the grantor has, with no warranties.

A financial claim or charge against property used as security for a debt (e.g., mortgage, tax lien, mechanic's lien); it can force a sale if unpaid.

A neutral third party holds funds and documents and disburses them only when all conditions of the agreement are met, protecting both buyer and seller.

The promissory note is the borrower's promise to repay the debt; the mortgage or deed of trust is the security instrument that pledges the property as collateral for that note.

150 multiple-choice questions.

At least 70 percent.

105 questions — 70% of 150.

$100.

Up to 45 — you must get at least 105 of 150 right.

The most complete form of real property ownership — absolute, of indefinite duration, freely transferable and inheritable.

Real property is land and things permanently attached to it (fixtures); personal property (chattel) is movable and not affixed.

A nonpossessory right to use another person's land for a specific purpose (e.g., a right of way).

The most complete form of ownership — full rights to use, sell, lease, or will the property, with no time limit and no conditions.