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Exam Code : CA-Real-Estate
Exam Name : California Real Estate Exam (DRE)
Vendor Name :
"Real-Estate"

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CA-Real-Estate Actual Questions

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Real-Estate

CA-Real-Estate

California Real Estate Exam

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Question: 310

Which of the following is a disclosure requirement for residential real estate transactions in California?

ppraisal contingency

ead-based paint disclosure ortgage pre-approval letter ome warranty provision

wer: B

anation: The correct answer is A) Lead-based paint disclosure. In ornia, sellers of residential real estate are required to provide a lead-b disclosure to potential buyers. This disclosure informs buyers about t ence of lead-based paint or hazards in the property and provides them pportunity to conduct lead inspections or assessments before completi urchase.

stion: 311

alifornia, what is the maximum amount of time a broker has to retain

1. A

2. L

3. M

4. H

Ans

Expl

Calif ased

paint he

pres with

an o ng

the p

Que

In C

copies of real estate transaction documents?

1. 7 years

2. 3 years

3. 5 years

4. 1 year

Answer: A

stion: 312

ch of the following is a characteristic of a tenancy at will in California ixed duration

equires written agreement

utomatically renews at the end of each month ot terminable without cause

wer: D

anation: The correct answer is C) Not terminable without cause. A ten ll in California is a type of tenancy that does not have a fixed duratio onth-to-month arrangement that can be terminated by either the land

tenant without cause, as long as the proper notice is given. This type ncy provides flexibility for both parties as it allows for termination wit

Explanation: The correct answer is D) 7 years. In California, brokers are required to retain copies of real estate transaction documents for a minimum of 7 years. This includes documents such as purchase agreements, disclosures, contracts, and other relevant records. The purpose of this requirement is to ensure that the necessary documentation is available for reference, audits, or potential legal matters.

Que

Whi ?

1. F

2. R

3. A

4. N

Ans

Expl ancy

at wi n. It

is a m lord

or the of

tena hout

a specific reason.

Question: 313

Which of the following is a responsibility of a property manager in California?

1. Setting rental rates for properties

2. Conducting property inspections

3. Drafting lease agreements

4. Approving tenant applications

Answer: B

ornia, one of the responsibilities of a property manager is to conduct erty inspections. Property managers are responsible for periodically ecting the rental property to ensure it is well-maintained, identify any ssary repairs or maintenance, and assess the overall condition of the erty. Setting rental rates, approving tenant applications, and drafting l ements may also be part of a property manager's responsibilities, but ucting property inspections is specifically mentioned in this context.

stion: 314

ch of the following is NOT a type of agency relationship in California

?

eller's agent ual agent

ransaction coordinator uyer's agent

Explanation: The correct answer is D) Conducting property inspections. In Calif

prop insp nece

prop ease

agre cond

Que

Whi real

estate

1. S

2. D

3. T

4. B

Answer: C

Explanation: The correct answer is C) Transaction coordinator. While a transaction coordinator is a role commonly involved in real estate transactions, it is not considered a formal type of agency relationship in California real estate. The other options listed—seller's agent, dual agent, and buyer's agentâ

€”are recognized agency relationships where an agent represents either the seller, both the buyer and seller, or the buyer, respectively.

Question: 315

hours hours hours hours

wer: B

anation: The correct answer is B) 24 hours. In California, a landlord is rally required to provide a tenant with a notice to enter the rental unit 24 hours in advance. This notice must specify the date and approxim

f entry, as well as the purpose of the entry. There are exceptions to t rement in case of emergencies or when the tenant provides consent fo er notice period.

stion: 316

In California, what is the maximum amount of time a landlord has to provide a tenant with a notice to enter the rental unit?

1. 12

2. 24

3. 48

4. 72

Ans

Expl

gene at

least ate

time o his

requi r a

short

Que

Which of the following is a requirement for a valid lease agreement in California?

1. Notarization

2. Witnesses' signatures

3. Minimum lease term of 1 year

4. Mutual agreement of all parties

Answer: D

ornia, they may be used as additional measures to enhance the rceability and authenticity of the agreement.

stion: 317

alifornia, what is the maximum amount of time a landlord has to make rs for non-essential items after being notified by the tenant?

hours ays ays days

wer: C

anation: The correct answer is C) 7 days. In California, if a tenant noti andlord of non-essential repairs that are needed in the rental unit, the

Explanation: The correct answer is D) Mutual agreement of all parties. In California, a valid lease agreement requires the mutual agreement of all parties involved. This means that all parties, including the landlord and tenant, must consent to the terms and conditions of the lease. While notarization or witness signatures are not mandatory requirements for a valid lease agreement in

Calif enfo

Que

In C repai

1. 24

2. 3 d

3. 7 d

4. 14

Ans

Expl fies

the l

landlord generally has a maximum of 7 days to make the repairs. Non-essential items refer to issues that do not affect the habitability or essential services of the rental unit. If the landlord fails to make the necessary repairs within this timeframe, the tenant may have legal remedies available, such as withholding rent or pursuing other appropriate measures.

Which of the following is the primary purpose of the Federal National Mortgage Association (FNMA)?

1. Facilitating loans for large-scale developers in urban areas

2. Increasing the accessibility of housing credit in the economy

   tant

   verseeing public lending agencies and associations

   
   

   wer: B

   
   

   anation: The primary purpose of the Federal National Mortgage ciation (FNMA), commonly known as Fannie Mae, is to increase the ability of housing credit in the economy. FNMA achieves this by hasing and guaranteeing mortgage loans from lenders, which helps to re the continuous flow of funds for mortgage lending and, consequentl motes home ownership and the stability of the housing market. Options nd D do not accurately reflect the primary function of FNM

   
   

   stion: 319

3. Providing financing for FHA Title II loans when traditional lenders are reluc

4. O

Ans

Expl Asso avail purc

ensu y,

pro A,

B, a

A.

Que

Which of the following is TRUE regarding a listing agreement in real estate?

1. It is a contract between the buyer and the seller.

2. It grants exclusive representation rights to a real estate agent or broker.

3. It outlines the terms and conditions of a lease agreement.

4. It is an agreement between the seller and the appraiser.

rect as it pertains to lease agreements. Option D is incorrect as the lis ement does not involve the appraiser.

stion: 320

eal estate transaction, what does the term "contingency" refer to? legally binding agreement between the buyer and seller.

he process of transferring ownership from the seller to the buyer. condition that must be satisfied for the contract to be binding.

he act of securing financing for the purchase of the property.

wer: C

anation: In a real estate transaction, a contingency refers to a conditio be satisfied for the contract to be binding. Contingencies are typicall ded in purchase agreements to protect the interests of the buyer and

Explanation: A listing agreement in real estate is a contract between the seller and a real estate agent or broker. It grants the agent or broker the exclusive right to represent the seller in the sale of the property. The listing agreement outlines the terms and conditions of the agreement, including the listing price, duration of the agreement, and the agent's commission. Option A is incorrect as it suggests the agreement is between the buyer and seller, while option B is incor ting

agre

Que

In a r

1. A

2. T

3. A

4. T

Ans

Expl n that

must y

inclu

provide an opportunity to cancel the contract or renegotiate terms if certain conditions are not met. Common contingencies include financing contingencies, inspection contingencies, and appraisal contingencies. Options A, B, and D do not accurately define the term "contingency."

Question: 321

Which of the following is TRUE regarding real estate disclosures?

1. Disclosures are only required for residential properties, not commercial properties.

2. Sellers are not required to disclose any known defects or issues with the property.

   ections.

   isclosures are intended to provide buyers with relevant information ab roperty.

   
   

   wer: D

   
   

   anation: Real estate disclosures are intended to provide buyers with ant information about the property's condition, known defects, and ot rial facts that may affect the buyer's decision to purchase. These osures vary by jurisdiction but often include information about the erty's physical condition, history of repairs or renovations, presence of rdous materials, and any legal or environmental issues. Disclosures he re transparency and allow buyers to make informed decisions. Options nd D are incorrect as they do not accurately describe the purpose or rements of real estate disclosures.

   
   

   stion: 322

3. Buyers are responsible for conducting their own investigations and insp

4. D out

the p

Ans

Expl

relev her

mate discl prop

haza lp

ensu A,

B, a requi

Que

Which of the following is the correct formula to calculate one month's interest on a real estate loan with an interest rate of 7.2% per annum?

1. Multiply the principal balance by 0.006

2. Multiply the principal balance by 0.6

3. Multiply the principal balance by 7.2% and divide by 12

Answer: A

efore, the correct formula is to multiply the principal balance by 7.2% e by 12. In this case, option A, which suggests multiplying by 0.006, ct choice as 7.2% divided by 12 is equal to 0.006.

stion: 323

ch of the following is true about a contingency in a real estate contract allows the buyer to back out of the contract without penalty.

is a legally binding provision that must be fulfilled. is only applicable to the seller.

can be waived by either party at any time.

wer: A

anation: A contingency in a real estate contract is a condition or rement that must be satisfied for the contract to be fully enforceable. I

Explanation: To calculate one month's interest on a real estate loan, you need to multiply the principal balance by the monthly interest rate. The interest rate is given as 7.2% per annum, which means it is the annual interest rate. To convert it to a monthly rate, you need to divide it by 12 (number of months in a year). Ther and

divid is the

corre

Que

Whi ?

1. It

2. It

3. It

4. It

Ans

Expl

requi t

provides a way for the buyer to back out of the contract without facing any penalties if the contingency is not met. Contingencies are typically included to protect the buyer's interests and allow them to conduct inspections, obtain financing, or fulfill other specified conditions before proceeding with the purchase. Therefore, option B is the correct answer.

In a real estate transaction, what does the term "earnest money" refer to?

1. The cost of appraising the property before the sale.

2. The commission paid to the real estate agent representing the buyer.

3. The fees charged by the escrow company for handling the transaction.

   
   

   wer: D

   
   

   anation: Earnest money in a real estate transaction refers to the initial ment made by the buyer to demonstrate their serious intention to purch roperty. It is typically a percentage of the purchase price and is held i ow until the closing of the transaction. Earnest money acts as a form o rity for the seller, showing that the buyer is committed to the purchase on A correctly identifies earnest money as the initial down payment m

   e buyer towards the purchase price.

   
   

   stion: 325

   
   

   ch of the following is true about a lease agreement?

   
   

   establishes the rights and obligations of the landlord and tenant. is a permanent and irrevocable contract.

4. The initial down payment made by the buyer towards the purchase price.

Ans

Expl

pay ase

the p n

escr f

secu .

Opti ade

by th

Que

Whi

1. It

2. It

3. It can only be terminated by the landlord.

4. It conveys ownership of the property to the tenant.

Answer: A

Explanation: A lease agreement is a contractual agreement between a landlord (property owner) and a tenant. It does not convey ownership of the property to

the tenant (option A is incorrect). A lease agreement is a temporary arrangement and can be terminated by either party, subject to the terms and conditions specified in the agreement (option B is incorrect). While a landlord may have certain rights to terminate a lease under specific circumstances, tenants also have rights and protections. Therefore, option C is incorrect. Option D correctly identifies that a lease agreement establishes the rights and obligations of both the landlord and tenant.

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