14 Real Estate Taxation

14 Real Estate Taxation - ILOVEPAYINGTAXES 1 CHAPTER12...

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1 I  LOVE  PAYING  TAXES
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2 CHAPTER  12 HERE  ARE  THE  ANSWERS
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3 1. Which of the following is an example of  government use of police power? a. rent controls b. building codes c. zoning ordinances d. all of the above D
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4 2 .   The Subdivision Map Act is administered by: a. California real estate commissioner b. local officials c. California Department of Urban Planning d. Department of Housing and Urban  Development (HUD) B
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5 3. Before a developer can sell a lot in a new  California subdivision, the prospective buyer  must receive a copy of the: a. preliminary title report b. builder’s warranties c. final public report d. zoning ordinances C
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6 4. A developer from Nevada wishes to sell 300  Las Vegas lots to California residents and  open sales offices in Los Angeles and San  Francisco.  The developer need not conform to  the: a. Subdivision Map Act b. CA Department of Real Estate sales  agreement disclosures requirements c. CA Department of Real Estate advertising  disclosures requirements d. Interstate Land Sales Full–Disclosure Act A
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7 5.  The right of the consumer, within a specified  time, to rescind a land purchase contract and  receive a full refund applies to new: a. urban subdivision of 50 lots or more b. suburban subdivisions of 50 lots or more c. farmland of 50 acres or more d. land projects of 50 lots or more D
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8 6. A development where a person individually  owns his or her living unit, but has an  undivided interest with the other owners in  the land and common areas, is a: a. planned unit development b. townhouse c. condominium d. stock cooperative  C
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9 7. The selling of a 1/2500 share in a Northern  California recreational ranch is an example  of: a. an undivided interest b. a condominium c. a PUD d. a time-sharing ownership A
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10 8. A person cannot refuse to sell a home based  on the buyer’s a. physical handicap b. marital status c. sex d. cannot refuse based on all of the above D
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11 9. The law that prevents agents from  discriminating when providing real estate  services is: a. Fair Housing Act b. Rumford Act c. Unruh Civil Rights Act d. Housing Financial Discrimination Act C
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12 10. The law that makes it illegal for real estate  lenders to redline a neighborhood is: a. California Fair Housing Act b. Rumford Act c. Unruh Civil Rights d. Housing Financial Discrimination Act  (Holden Act) D
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11. Which of the following is the best example of a  common interest development? a. condominium
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This note was uploaded on 10/04/2011 for the course REAL ESTAT 11 taught by Professor Robertrooks during the Winter '08 term at El Camino.

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14 Real Estate Taxation - ILOVEPAYINGTAXES 1 CHAPTER12...

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