Business - Business Law

According to the DRE regulations, it is commingling when a broker:

When is it proper for the offeree in a transaction to personally hold the offeror's deposit?

Of the following, which is the most important reason for a broker to maintain a trust fund account in addition to regular business account:

4

Unlike joint tenancy, the only factor that must be equal in tenancy in common is which of the following?

5

How is tenancy in common different from joint tenancy?

6

For federal income tax purposes, on income property, capital expenditures for improvements:

7

Which of the following is the reason that a single joint tenant cannot will his/her interest in real property:

8

For federal income tax purposes, the basis of real property acquired by a purchaser is the property's:

9

Which of the following items can be deducted for income tax purposes on real estate that is held as personal residence:

10

To arrive at the adjusted basis for federal income tax purposes, you would add to the original cost basis all of the following, except:

11

Mello Roos bond are used to fund a wide variety of new public improvements and services. All of the following would be funded by Mello Roos, except:

12

Tax delinquent real property not redeemed by the owner during the five-year statutory redemption period:

13

Real property is sold to the state by operation of law on June 30th if property taxes are unpaid. The owner-occupant:

14

When a property taxes become a lien on real property in California?

15

If on final inspection, a buyer had concerns about the property lines and the neighbor's fence being built on the property being purchased, the buyer should do which of the following:

16

Tyler purchased a parcel of land from the State of California. Which of the following documents would transfer title to the buyer:

17

RESPA requires that a borrower receive information regarding closing costs, to include fees, costs, expenses, and points to be incurred. Which of the following best describes how points are applied in the financial services industry:

18

A carpenter installed hardwood floors in a new house, and when the invoice was not paid for his work, filed a mechanic's lien. The priority of his claim is:

19

Which of the following is an example of a voluntary lien:

20

All of the following terminates an existing offer to purchase real estate except:

21

The Closing Disclosure published by the Consumer Financial Protection Bureau (CFPB) summarizes the final mortgage terms and details for the buyer. It needs to be delivered to the buyer:

22

A seller listed their house for sale with a broker for $700,000. The seller informed their broker the property needed to be sold quickly. The broker showed the property to a buyer and told them that the seller was desperate and would accept $600,000. Based on the broker's statement, the buyer offered $600,000 for the seller's property. The seller accepted the offer. Concerning the broker's actions, which of the following is true?

23

Failure to provide the Agency Law Disclosure form:

24

According to John Rawl’s ________, managers are likely to consider what decision they would make if they did not know what role they would be playing following the decision.

25

In legal contexts, due process refers to ________.

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Business - Business Law

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