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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


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

Laws of Agency

The Agency Relationship Disclosure Act became effective January 1, 1988 and is found in the Civil Code.

Contracts

Statute of Limitations is what sets the maximum amount of time to initiate legal proceedings from the date of an alleged offense.

Financing

Purchase-money transactions do not allow a deficiency judgment.

Practice & Disclosures

Under the prepaid rental listing service requirement, a prospective tenant who has paid the fee must be provided with at least 3 available rentals within 5 days of payment.

Property Ownership

An acre consists of 43,560 square feet.

Transfer of Property

A CLTA standard title insurance policy covers forgery. Commonly, this type of policy is obtained by homeowners and does not require on-site inspection of the property.

Valuation & Analysis

If current highest and best use is going to change, current use is referred to as interim use.

Saturday's Free Practice Questions

Of the following, what is a qualifying tool that lenders use to measure the ability to pay their debts in relation to their income


A.) FICO score
B.) Debt-to-Income ratio
C.) Loan-to-Value ratio
D.) Loan-to-Income ratio


A
B
C
D

This Is A Financing Question


You Answered:


Of the following, what is a qualifying tool that lenders use to measure the ability to pay their debts in relation to their income


Correct Answer:
Debt-to-Income ratio

The debt-to-income ratio is a qualifying tool that lenders use to measure the amount of debt that borrowers have in relation to their income.



Next Question →

All of the following are correct concerning prepayment penalties, except


A.) Generally the prepayment penalty will decrease as the loan balance decreases
B.) A loan without a prepayment penalty encourages the borrower to refinance when interest rates decrease
C.) Lenders usually include a prepayment penalty in the note to help compensate for the risk of having to liquidate their investment and to find another in a period that may not be as favorable for reinvestment
D.) A prepayment penalty is not deductible for income tax purposes


A
B
C
D

This Is A Financing Question

You Answered:

All of the following are correct concerning prepayment penalties, except


Correct Answer:
A prepayment penalty is not deductible for income tax purposes

Generally, prepayment penalties are regarded as an interest expense, and may be deductible for income tax purposes.



Next Question →

Which of the following closing costs would be classified as a recurring cost


A.) Recording fees
B.) Title insurance premiums
C.) Escrow fees
D.) Impound account items


A
B
C
D

This Is A Transfer of Property Question

You Answered:

Which of the following closing costs would be classified as a recurring cost


Correct Answer:
Impound account items

Of the costs listed, impound account items are normally paid with the monthly payment of principal and interest, and therefor re-occur throughout the loan. The other items normally are paid once, at the closing of the escrow.



Next Question →

The mileage distance separating township boundaries would be


A.) One mile
B.) Six miles
C.) Eight Miles
D.) Twenty-four miles


A
B
C
D

This Is A Property Ownership Question

You Answered:

The mileage distance separating township boundaries would be


Correct Answer:
Six miles

Township boundaries are six miles apart.



Next Question →

Appraiser Albert employed a land residual technique. The unknown factor and desired result would be


A.) Net income
B.) Building value
C.) Land value
D.) Capitalization rate


A
B
C
D

This Is A Valuation & Analysis Question

You Answered:

Appraiser Albert employed a land residual technique. The unknown factor and desired result would be


Correct Answer:
Land value

In employing the land residual technique, the end result would be the land value.



Next Question →

Great Job!!!

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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