Mid Term Prinicples Rooks

Mid Term Prinicples Rooks - Practice Mid Term Principles El...

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1 Of 10 Fall 2005 El Camino College – Rooks 3/6/2006 1 Practice Mid – Term Principles – El Camino College – Rooks 1. If a person dies without a will, the procedure for transferring the deceased’s property to his or her heirs is called: A. accession C. escheat B. intestate succession D. accretion 2. An oath or affirmation made before a notary public is called a(n): A. deed C. verification B. actual notice D. none of the above 3. Grantor A conveys a parcel of land to grantee B on the condition that a park be built within 5 years. At the end of the period, B fails to meet the terms of the conveyance and A terminates the estate that had been granted. This is an example of: A. special limitations C. condition subsequent B. condition precedent D. none of the above 4. Under intestate succession, with a surviving wife and two minor children, how much of the estate would go to the wife? A. 1/3 C. 50% B. 3/4 D. 100% 5. If a property is to be returned to the grantor after a life estate is terminated, it is referred to as a(n): A. estate in reversion C. Iife estate B. estate in remainder D. estate for years 6. What is the term used when a person leasing a property remains after the expiration of the stated term? A. Estate for years C. Estate at will B. Estate from period-to-period D. Estate at sufferance 7. An estate for years is an example of a: A. Iife estate C. freehold estate B. fee estate D. Iess-than-freehold estate 8. CC&Rs refer to: A. conditions, control, and residuals C. construction, conditions, and restrictions B. covenants, communities, and residents D. covenants, conditions, and restrictions 9. When someone is performing unauthorized work on your property, you should file a: A. notice of nonresponsibility C. writ of execution B. notice of completion D. abstract of judgment 10. A mechanic’s lien can be filed against a property by someone who has furnished which of the following services? A. Landscaping C. Plumbing B. Roofing D. All of the above 11. Real property subject to a lien is referred to as: A. attached C. encumbered B. restricted D. all of the above 12. An agent who is only authorized to perform specific acts is known as a(n): A. general attorney in fact C. fiduciary B. special attorney in fact D. attorney by estoppel
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2 Of 10 Fall 2005 El Camino College – Rooks 3/6/2006 2 13. In real estate, the person who acts for and with the authority of another is called a (an): A. agent C. buyer B. principal D. third party 14. Which of the following is NOT a duty of the broker/agent towards his or her principal? A. Availability C. Honesty B. Loyalty D. Integrity 15. If the “exact” terms of the listing agreement are met, the listing broker is entitled to a commission, even if the: A. buyer is legally incompetent C. seller is not the legal owner B. broker is not licensed D. owner refuses to sell to the buyer 16. Which kind of listing is preferred by most brokers? A. Exclusive agency
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Mid Term Prinicples Rooks - Practice Mid Term Principles El...

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