California DRE Salesperson Practice Exam

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• When applying the Building Residual Technique, which aspect is often calculated first?
• How are interests in land, typically an easement, acquired through continued use?
• What is the most important characteristic of joint tenancy?
• What does a point estimate in appraisal refer to?
• What term describes notice that is expressly given or implied?
• In community property laws, how do husbands and wives share property interests?
• What do direct costs typically include when building an improvement?
• In terms of real estate, what is an encumbrance?
• Besides soil and rocks, what else do you own when acquiring land?
• When evaluating property, what does economic obsolescence signify?
• What principle states that the value of property is affected by the potential future benefits of ownership?
• What is the term for the process of selecting the appropriate method of valuation in an appraisal?
• What defines a short-lived component in property appraisal?
• What type of estate do tenants who rent or lease property hold?
• What are the four "unities" required for joint tenancy to exist?
• What are bounds in the context of property descriptions?
• What does the term 'Net Adjustment' refer to in real estate valuation?
• What technique is used for measuring the effect of a single element of comparisons in property value?
• Which type of roof design is characterized by four sloped sides converging at the top?
• In a life estate, what occurs when the owner dies?
• Which of the following responsibilities is NOT typically associated with the Appraisal Standards Board?
• What four elements make up real property?
• What type of description might be used when property is not recorded on a map?
• What does the term 'appurtenant' relate to in real estate?
• What term refers to the physical and sometimes intangible benefits associated with land?
• What type of property ownership allows for rights of survivorship among co-owners?
• What does USPAP stand for?
• What term refers to personal property used in a business that is attached to the property but can be removed by the tenant?
• What term describes the reasonable space above a parcel of land?
• Which of the following factors does NOT typically influence property value?
• A property with a high effective age indicates what about its condition?
• What is formed by the intersection of a range and township line?
• What can affect the effective date of appraisal in property valuation?
• What does effective age reflect in an appraisal context?
• What principle states that a buyer will not pay more for a property than for a substitute of equal utility?
• When did California gain admission into the United States?
• Which type of ownership allows a person to leave their share to designated heirs?
• What does a Section in the U.S. Government Survey represent?
• What is the name for an unlawful intrusion onto another’s property involving improvements?
• What approach do appraisers use in the Building Residual Technique to find the value of improvements?
• Which term best describes the right of an owner to use the air space above their property?
• What is the purpose of Advisory Opinions in appraisal?
• What is referred to as the total amount of revenue a property can generate at full capacity?
• What is a primary concern of the Appraisal Standards Board?
• What type of partnership involves both general and limited partners?
• Which of the following is NOT a measure of metes?
• What must be true for a couple to qualify property as community property?
• What is the purpose of making a 'Comparison Analysis' when appraising property?
• What does transferability refer to in property appraisal?
• What does volume refer to in terms of real estate?
• What does "accrued interest" refer to?
• What is the legal process called that determines the succession of inheritance when someone dies without a valid will?
• What is the term for estimating each type of depreciation separately?
• What is the term for the giving of private land by its owner for public use?
• What term is used to describe the intentional relinquishment of ownership interest in real property?
• What is a leased fee?
• What is the role of the Appraisal Standards Board?
• What are the three common methods of describing property?
• What do we call the situation in which a party has a temporary right to ownership of property pending the fulfillment of a condition?
• What is the description of property boundaries using natural landmarks known as?
• What is the purpose of a Bill of Sale?
• Which of the following is a legal document affirming the truth of a statement in a court?
• When is a tenancy in common created?
• Examples of bounds for properties can include?
• What does the term "Bundle of Rights" refer to in property ownership?
• What is the purpose of reconciliation in the appraisal process?
• What is the purpose of 'Sheathing' in a building?
• What is a depositing institution?
• How is the highest and best use of land determined?
• In property appraisal, what does a positive adjustment indicate?
• Which appraisal method focuses on the cost of duplication of a property?
• What is a limiting condition in an appraisal report?
• What is a letter of transmittal in the context of appraisals?
• What does the competency rule forbid appraisers from doing?
• Which of the following is true about personal property?
• What does a three-quarter bath typically include?
• What are crops produced on leased land by a tenant farmer considered in terms of property?
• In a joint tenancy, what happens if a joint tenant wishes to sell their interest?
• Which of these is an example of community property?
• Simultaneous ownership of property by two or more people can be which of the following types?
• What type of notice is given through public record?
• What does a reference point allow in real estate measurements?
• How many feet are in a mile?
• What component might indicate depreciation in property analysis?
• What does BTU stand for in heating terms?
• Which type of deed is most commonly used in California and contains warranties against prior conveyances and encumbrances?
• Which statement best describes the impact of depreciation?
• What is the reciprocal of a number?
• What does escheat refer to in real estate?
• What is a 'Sill' in construction?
• What type of ownership allows two or more persons to hold an undivided interest with rights of survivorship?
• How many square miles are contained within a township?
• What are the two types of freehold estates?
• What is a right triangle defined by?
• How many acres are contained in each section of a township?
• According to market trend data, which of the following forces interact to affect property value?
• Which term describes a personal property interest in real property?
• Where must instruments affecting real property be recorded?
• What is the term for a grid made up of base lines and meridian lines in property descriptions?
• Does a right of survivorship exist in a tenancy in common?
• What is a lien?
• Which of the following is NOT true regarding estates for life?
• What type of taxes are ad valorem taxes?
• A township is divided into how many sections?
• What method requires the appraiser to measure the quantities of various components, such as foundation, floor, walls, and roof?
• Which of the following sets of lines is NOT a main set of base and meridian lines in California?
• What is the primary benefit of joint tenancy ownership?
• What is meant by depreciation in real estate?
• What term is used when a tenant voluntarily moves out of an apartment and never returns?
• What organization is concerned with the education, testing, and experience requirements for appraisers?
• What is the term for property owned by one person?
• What is the maximum value under which services of an appraiser are not required, according to FIRREA?
• What is an estate of unlimited duration, such as a fee simple or life estate?
• What determines the quality of a value indicator in appraisal?
• What are the four different duration types associated with estates?
• What term describes various formal statements made under oath before a professional witness?
• What is cost index trending used for in real estate?
• What does the Cost Approach indicate about property value?
• Which deed language indicates a transfer of property with warranties for an uninterrupted title?
• Does the term 'property' refer only to the physical things owned?
• What primary function does the appraiser serve in the appraisal process?
• What type of estate reverts back to the grantor after the tenant's life expires?
• What does 'Range Value' indicate in appraisal?
• What is the relationship between supply and demand and pricing in real estate?
• What term is used to describe interests in property that are not possession-based?
• How is a legal definition of property characterized?
• What is a reconstructed operating statement?
• What is the court procedure that proves a will’s validity called?
• What term refers to co-ownership of property by two or more persons without the right of survivorship?
• What is meant by the term 'Recapture' in real estate?
• When land ownership reverts to the state, what is it called?
• In the Building Residual Technique, what is primarily estimated by the appraiser?
• Which property valuation approach is least likely to be used in the Building Residual Technique?
• Which of the following pertains to tenancy in partnership?
• What is the total number of square feet in one acre?
• How is the accuracy of data primarily measured?
• Which type of USPAP requirement does not allow for departure from established standards?
• What term describes the vertical lines in townships and sections?
• What does the Principle of Residual Technique mainly assess?
• What process allows an individual to take possession of land that they do not own under certain conditions?
• What is 'Relative Comparison Analysis' primarily concerned with?
• What characterizes a hip roof?
• In a vertical subdivision, which element is separated from ownership of the rest of the property?
• Which of the following best describes an estate that is inheritable?
• What is the term for a column of land six miles wide in a north-south direction?
• Which legal description includes all boundary lines with their terminal points and angles?
• What land area is equivalent to 43,560 square feet?
• What type of rights allows a landowner to use water from a bordering stream?
• If one joint tenant dies, what happens to the property?
• What condition attached to an estate results in it being defeated due to non-performance?
• What are Riparian Rights associated with?
• What is the main effect of encroachment on property rights?
• What is excess land?
• Which organizations are included in the secondary mortgage markets?
• Why is the sales comparison approach significant in real estate appraisal?
• What are imaginary east-west lines that intersect with meridian lines called?
• How far apart are ranges and township lines?
• Which of the following best describes a comparable property?
• What are waterways, easements, and access to land primarily considered?
• What is primarily evaluated using the cost index trending method?
• Which of the following best describes Chattel Real?
• What does FIRREA stand for?
• Which measurement corresponds to the one mile length of a section?
• Which term describes water that is suitable for human consumption?
• What type of statement is typically made under penalty of perjury in legal contexts?
• What is an example of less-than-freehold estate?
• What is the process of acquiring additional property known as?
• What type of property are crops cultivated by a tenant on rented land typically classified as?
• What condition results in a property reverting back to the original owner when a certain event occurs?
• What approach compares a property's value to other similar properties?
• What type of interest is described as being earned on both principal and previously accrued interest?
• Which method is commonly used when determining the overall value of a property?
• Which method allows acquiring title to real property through possession for a statutory period under certain conditions?
• Which of the following would NOT typically fall under the definition of Trade Fixtures?
• What are the horizontal lines in townships and sections called?
• What are the two main categories of property?
• What is an acre of land less the amount dedicated for public improvements called?
• Who is a person authorized by the state to witness signatures and affix a seal?
• What was a primary goal of creating the Office of Thrift Supervision?
• What determines the rights of parties in relation to a property under the MARIA test?
• How does a district in real estate typically influence property values?
• Which type of estate is always associated with a specific duration?
• What is a defining characteristic of a Condominium Project?
• Which of the following are considered affixed items to the land?
• What is the primary purpose of defining base lines in land measurement?
• If property is not real property, what type of property is it classified as?
• What type of property includes both movable items and rights associated with real estate?
• What is the legal term used for an observation of a property that includes an affirmative declaration?
• What does 'depreciation' in real estate typically reflect?
• What defines fixtures in real estate?
• What is the relationship between depreciation and a property's economic life?
• Which of the following best describes a financial encumbrance on property?
• What acronym is used to remember the five tests for determining an item's status as a fixture?
• What is implied by the concept of highest and best use in property appraisal?
• A key factor in determining the effective date of appraisal is?
• What defines a district in real estate terms?
• Which type of estate represents the most complete ownership with all associated rights?
• What do metes refer to in property descriptions?
• What is the term for an event that must occur before title is passed?
• What does sub-structure or foundation data refer to?
• What is a primary concern of analyzing comparable properties?
• What do meridian lines represent in government surveys?
• Which of the following are considered kinds of personal property?
• Which term refers to the estimated worth of a property based on current market conditions?
• If an appraiser uses the number 2 to derive its reciprocal, what is the resulting value?
• What does 'Functional Obsolescence' refer to in real estate?
• What is the purpose of the Office of Thrift Supervision (OTS)?
• Which term describes the increase in property value due to external economic factors?
• What is the main purpose of the Metes and Bounds system in property description?
• In which circumstance is an appraiser not required to verify data?
• In real estate, what does ''excess land'' indicate?
• What is the definition of supply and demand in real estate?
• Which of the following describes movable property that is not classified as real property?
• What is eminent domain?
• What is the official term for the land area that includes public amenities like sidewalks and alleys?
• What type of appraisal involves estimating the value based on income generated by a property?
• What is the acreage in a half section of a township?
• Each section of a township represents how many square miles?
• What is the term for the specific date on which value estimates are made?
• What type of notice is created by documents filed in a manner that makes them open to public view?
• Which term describes the scenario where a property owner has the right to reclaim their property upon the expiration of a tenant’s lease?