Ca Real Estate State Exam Crash Course Pdf

Per real estate law, a real estate salesperson is considered: A - an employee of the broker B - self employed C - a 1099 employee D - an independent contractor {Ans: A - an employee of the broker Answer Feedback: The salesperson is an independent contractor for tax purposes. Per real estate law, a salesperson is considered an employee of the broker.}California state sales tax: A - applies to sale of medicines B - applies to real and personal property C - applies to none of these D - applies to the sale of taxable personal property {Ans: D - applies to the sale of taxable personal property Answer Feedback: Sales tax is charged to the sale of something tangible that is within the taxable categories.}When appraising a property and the quantity, quality, and durability of its net income is tested, which is the best approach to use? A - Capitalization of income approach B - Market data approach C - square foot or cubic foot approach D - none of these {Ans: A - Capitalization of income approach Answer Feedback: Using the capitalization or "Cap" approach, the appraiser estimates the value of a property by