Shared Flashcard Set

Details

BRE test
studying to pass the CA BRE test
29
Real Estate & Planning
Professional
02/27/2014

Additional Real Estate & Planning Flashcards

 


 

Cards

Term
The primary purpose that an appraiser would use a site analysis for would be to determine the
Definition
highest and best use
Term
under a lease, who has the leasehold estate?
Definition
lessee
Term
urban industrial property is usually valued by the:
Definition
acre/square foot
Term
If a problem between a buyer and seller cannot be resolved in escrow the escrow company can:
Definition
enter court action with buyer and seller in an action of interpleader
Term
a trust deed note taken by a state savings and loan association on a single family, owner occupied residence could be prepaid without a penalty:
Definition
if the loan is more than 7 yrs old
Term
Johnson purchased a parcel of real property and received a standard policy of title insurance. johnson would be protected against al of the following except
Definition
easements and liens on the property not revealed by the public record.
Term
The statement: "no prudent person would normally pay more for an object than the price of an acceptable alternative" refers to the appraising principle of :
Definition
substitution
Term
Under the Civil Code, agents must disclose to sellers and buyers in a real estate transaction the nature of the agency relationship. in which of the following transactions, would this agency relationship be required to be disclosed?
Definition
a lease for a period of more than one year
Term
The quickest appraisal method that can be used to convert the established income of a property into a dollar valuation of a property is the
Definition
gross rent multiplier approach
Term
a real estate investor who wishes to operate by using the principle of leverage would:
Definition
use borrowed money to the maximum extent possible
Term
A real estate transfer disclosure statement would be required when property is transferred by which of the following methods?
Definition
a sale transaction involving one to four units
Term
in the purchase of personal property during the acquisition of a business opportunity, which of the following is necessary to "perfect" the arrangement?
Definition
file a financing statement
Term
Insofar as the ratio of land and improvement cost is concerned, which offers an investor the largest depreciation basis:
Definition
apartment property being sold at $100,000
Term
The Truth-in-Lending Law as it pertains to real estate would most nearly apply to which of the following:
Definition
first T.D. loans and junior loans
Term
"Depression, expansion, prosperity, and recession" are all terms related to which of the following types of cycle:
Definition
business
Term
The Subdivided Lands Act requires the owner, subdivider, or agent to notify the Real Estate Commissioner if certain material changes occur in a subdivision. All of the following would be considered to be a material change in a subdivision except:
Definition
a change in the prices of the lots, units, or parcels
Term
For federal income tax purposes, which of the following items is a legitimate deduction for an owner on unimproved real property that is being held for the purpose of investment?
Definition
a loss on the sale of the property
Term
If an appraiser is appraising a special purpose property, she would most generally use the
Definition
cost approach
Term
For Federal income tax purposes, capital expenditures for improvements are:
Definition
added to the "cost basis" of the property and depreciated
Term
Under most construction loan terms, a lender will not release the final payment to he builder until
Definition
the lien period has expired
Term
If there is a default on a mortgage and the mortgagee decides to foreclose on the mortgage, the mortgagee would:
Definition
file an action in the court
Term
The purchaser in a sale-leaseback transaction would be least concerned with the
Definition
depreciated book value of the building
Term
A net lease provides:
Definition
a net income to the lessor
Term
Which of the following is most nearly like an easement appurtenant?
Definition
stock in a mutual water company
Term
The California Real Estate Law requires a subdivider to notify the Real Estate Commissioner whenever there is a material change after a final public report has been issued. Which of the following would constitute a material change?
Definition
the sale of seven lots to a private builder
Term
When loaning money to two or more co-borrowers on a single promissory note, the lender would be best advised to increase the security on the note by inserting which of the following phrases after the names of the co-borrowers?
Definition
together as individuals
Term
A homeowner may take advantage of an exclusion from capital gains in the sale of their own personal residence
Definition
every two year
Term
Mr. Bailey purchased a 24 unit apartment building in 1988. for income tax purposes, he is allowed to calculate depreciation using which of the following methods?
Definition
straight line
Term
Which of the following is the reciprocal of an 8% capitalization rate?
Definition
12.5%
Supporting users have an ad free experience!