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Updated June 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


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

Laws of Agency

A buyer-Broker Representation Agreement must be in writing.

Contracts

Regardless of the price or terms of the offers, multiple offers on property must be presented to the seller at the same time.

Financing

The flow of money is controlled by the Federal Reserve System.

Practice & Disclosures

A home is the largest purchase an average consumer can make, therefore it is a major part of the consumer price index.

Property Ownership

Flood hazard zones are based on a 100 year history.

Transfer of Property

Usually a court will confirm a probate sale and set the brokers commission.

Valuation & Analysis

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

Monday's Free Practice Questions

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 →

The advantages of a partnership over a sole proprietorship would be


A.) Each partner shares in the assets of the other partners
B.) Individual liability for the total debt of the partnership
C.) Personal liability for the acts of the partners
D.) Ease of transfer of individual interests


A
B
C
D

This Is A Property Ownership Question


You Answered:

The advantages of a partnership over a sole proprietorship would be


Correct Answer:
Each partner shares in the assets of the other partners

The advantage of a partnership is that assets are available for the business venture beyond the limits of the sole owner. B & C are regarded as disadvantages. D is not true.



Next Question →

A restriction in a deed which provides that the land may not be used for the sale of intoxicating liquors could be terminated by


A.) A merger of ownership
B.) A voluntary cancellation by the grantee
C.) A change in zoning laws to prevent commercial development
D.) None of the above


A
B
C
D

This Is A Property Ownership Question


You Answered:

A restriction in a deed which provides that the land may not be used for the sale of intoxicating liquors could be terminated by


Correct Answer:
None of the above

A restriction in a deed prohibiting the sale of intoxicating liquors could not be removed by a cancellation by the grantee, a zoning law change, or a merger of the property.



Next Question →

Capital turnover in real estate investments


A.) Is slower than the average commodity
B.) Is about the same as in other commodities
C.) Is faster than in the stock market
D.) Is about average with other commodities


A
B
C
D

This Is A Valuation & Analysis Question


You Answered:

Capital turnover in real estate investments


Correct Answer:
Is slower than the average commodity

Real estate investments are usually held longer than investments in other commodities.



Next Question →

The law of agency is concerned with the duties, rights, and liabilities between and among


A.) The agent and his principal
B.) The principal and the third party with whom the agent deals
C.) The agent and the third party
D.) All of the above


A
B
C
D

This Is A Laws of Agency Question


You Answered:

The law of agency is concerned with the duties, rights, and liabilities between and among


Correct Answer:
All of the above

The law of agency is concerned with all of these relationships.



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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