California Real Estate Salesperson License Certification Exam Questions And Answers

Statutory will {Ans: Preprinted form--two witnesses}Right of survivorship {Ans: This means that if one tenant dies, the surviving joint tenant(s) acquire the deceased's interest without a court action such as a probate}Paragraph 7 of RPA-CA {Ans: Buyers asks seller to pay for inspection reports and/or to obtain proof the property is in a certain condition. The party responsible to the cost will also be stated. This is true for the expenses of escrow and title insurance as well.}If TDS is given after the purchase contract is signed the buyer has how many days to cancel sale: {Ans: 3 (5 if mailed)}Five legal ways of acquiring property {Ans: succession, accession, occupancy, and transfer}Caveat emptor {Ans: "let the buyer beware" no longer a defense if seller withholds material fact}Riparian Rights {Ans: Owners of land that borders on a river or another owing water course enjoy certain benefits regarding use of the water--"reasonable use." Each owner has a right to an amount of water in proportion to the amount of land owned that borders the water course and in light of the needs of all interested parties}Range lines {Ans: Run parallel to the principal meridians