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Updated April 2024 With New Questions For The State Exam!


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These Practice Exams Have Been Specifically Designed For The 2024 California Salesperson Exam


What's Included:


All of our questions are current and explain why a certain answer is correct. These explainations are the key, "why an answer is correct". If you understand the "why", we can ask you the question ten different ways (and we will with over 2,000 questions) and you'll know the answer.


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Our State Exam Preparation System Involves Three Key Areas


Crash Courses
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Designed To Teach You Everything That You Need To Know To Pass The State Exam.

Practice Exams
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Learn How To Breakdown The Questions On The Exam & Test Your Level Of Readiness.

Refreshers
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There Is A Lot Of Information To Remember. These Are Designed To Refresh On All The Topics.



The Key To Passing The State Exam Is Understanding The Seven Topic Areas


Friday's Free Key Points
Key Point's are important bulletpoints that relate to state exam topics.

Laws of Agency

Under real estate law, a real estate broker and salespersons relationship is that of employer and employee - even for independent contractor status.

Contracts

A Bilateral contact is an exchange of promises that binds both parties

Financing

It is to the benefit of the lender, and also enforceable to have an alienation clause, also known as the due-on-sale clause. The alienation clause is a type of acceleration clause.

Practice & Disclosures

Trust funds received by a broker must be placed into either a neutral escrow depository, the brokers trust fund account or the hands of the principal within 3 business days. The one exception to this rule is if the broker has written instructions from the buyer that is contrary.

Property Ownership

FHAs minimum stairwell width is 3 feet with 1 handrail.

Transfer of Property

A grant deed is used to transfer a title. This should not be confused with a trust deed, which is used for financing and is a security device.

Valuation & Analysis

A most common form of syndication in California is a written limited partnership. Limited partners have liability up to the amount invested.

Friday's Free Practice Questions

In which of the following ways is the Federal Housing Administration different from conventional lending institutions


A.) FHA is a mortgage insurer rather than a lender
B.) FHA deals only with loans for veterans
C.) FHA interest rates are always 1% to 3% lower
D.) FHA's maximum loan is 80% of the appraised value


A
B
C
D

This Is A Financing Question


You Answered:


In which of the following ways is the Federal Housing Administration different from conventional lending institutions


Correct Answer:
FHA is a mortgage insurer rather than a lender

The FHA insures lenders who make loans, it does not lend the money directly.



Next Question →

A community's Master Plan is required by law to include basic planning studies covering all of the following, except


A.) Recreational facilities and parks
B.) Construction methods in building requirements
C.) Proposed land uses, industrial population, and building densities
D.) Existing and proposed major public utility and transportation rates


A
B
C
D

This Is A Property Ownership Question

You Answered:

A community's Master Plan is required by law to include basic planning studies covering all of the following, except


Correct Answer:
Existing and proposed major public utility and transportation rates

A community's Master Plan would cover construction methods in building requirements, proposed land use, such as industrial population and building densities, and areas designed for recreational facilities and parks. But the Master Plan is not involved in setting or proposing major public utility and transportation rates.



Next Question →

A broker would not be required to maintain trust records in all of the following transactions, except


A.) A check promptly delivered to escrow
B.) A check promptly delivered to seller
C.) A check promptly delivered to the seller that was given as the deposit in an offer to purchase containing a contingency clause
D.) A check written to the broker for a deposit on an offer


A
B
C
D

This Is A Practice & Disclosures Question

You Answered:

A broker would not be required to maintain trust records in all of the following transactions, except


Correct Answer:
A check written to the broker for a deposit on an offer

A broker is always required to maintain trust records. He is not required to maintain a trust fund account. If a check was written to them, they would have to deposit it into a designated trust account.



Next Question →

A person should consult a real estate appraiser when he intends to do which of the following


A.) Sell or buy
B.) Remodel or rehabilitate
C.) Lease or rent
D.) Any of the above


A
B
C
D

This Is A Valuation & Analysis Question

You Answered:

A person should consult a real estate appraiser when he intends to do which of the following


Correct Answer:
Any of the above

Obtaining an opinion of value is important for any of the choices given.



Next Question →

Broker Billy took an exclusive right to sell on the Smiths ranch property. The property was shown a few times but it never sold and the listing agreement expired. In regards to this


A.) Broker Billy has no need to keep any record of this listing
B.) Broker Billy must keep a record of this listing for 1 year
C.) Broker Billy must keep a record of this listing for 3 years from the date the listing agreement was signed
D.) Broker Billy must keep a record of this listing for 3 years from the date the listing was placed on the MLS


A
B
C
D

This Is A Practice & Disclosures Question

You Answered:

Broker Billy took an exclusive right to sell on the Smiths ranch property. The property was shown a few times but it never sold and the listing agreement expired. In regards to this


Correct Answer:
Broker Billy must keep a record of this listing for 3 years from the date the listing agreement was signed

Brokers must keep all records on file for at least three years from the date of closing. If they did not close, it is from the date of the listing.



Next Question →

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We Strongly Believe That Passing The State Exam Involves Two Key Areas:
· Understanding The Topics On The State Exam
· Recognizing These Topics In The Questions

Our Salesperson Specific Exams will reinforce topics by utilizing over 2,000 questions & our Broker Specific Exams feature over 3,000 questions!

Crash Courses: Designed to help you understand the topics on the state exam.

Practice Exams: Reinforce topics and make it easier to recognize them in questions.


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