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CA State Certified Appraiser Legal Things

Subject : certifications
Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. When a corporation owns a building and the residents of the building own stock in the corporation - this is called what form of special ownership?






2. A loan that would be secured by the real property is called...






3. Which of the following major forces of influence on real estate value covers supply and demand of housing?






4. When the government regulates the land use for the good of the public - this is called...






5. A subject property has a market value of $125 -000. The property is taxed at a rate of $1.75 per $100 of assessed value. The property is assessed at 75 -000. What is the Millage rate?






6. 'runs with the land' - easement that generally transfers automatically when the dominant estate is transferred.






7. What is the term that means 'going to the state'?






8. What is the method of legal description that is used in subdivisions?






9. The Smith's converted their garage into an apartment for an elderly relative without government approval. This would be an example of...






10. One source of data for use in the comparable sales approach - is deed recordings. Which of the following is/are true?






11. In the term 'Metes and Bounds' - what does the word 'Bounds' mean?






12. River Real Estate Tycoons just purchased an office property next to the Wafflesnake Bayou. Because the office property lacked sufficient parking - they contacted the Bayou Burger Joint next door who agreed to an easement allowing them use of seven sp






13. A lien that would usually take priority would be which of the following: Judgement - Real estate Tax - Mechanics Lien - Mortgage?






14. When the government has the right to levy taxes on real property this is called...






15. Which of the following is a zoning classification for a subdivision that sets density limits and allows dwellings to be clustered?






16. If a property tax rate is 1.7% of assessed value - what would the mill rate be?






17. Which is the superior lien?






18. River Real Estate Tycoons just purchased an office property next to the Wafflesnake Bayou. Because the office property lacked sufficient parking - they contacted the Bayou Burger Joint next door who agreed to an easement allowing them use of seven sp






19. If 'FRED' built his new home - but his large kitchen extended past his property line and into is neighbor's property this would be called an...






20. Public limitations on free exercise of private property are...






21. A mortgage that has not been recorded or registered in the county in which the real estate is located...






22. Land that benefits from an easement on another property...






23. Arnold bought a summer home on the shore of Eagle Bear Lake five years ago. Over the years - the water has receded and left his dock permanently surrounded by dry land. What is this an example of?






24. (Legal interest)The right to remove something from another's land such as minerals etc. is commonly called...






25. Albert is selling is house and has been informed that a potential buyer has submitted an offer that includes his clothes washer and furniture in the sale. Albert accepted the offer without addendum. Which of the following best describes the actions o






26. If a owner has a partial ownership or a lease for a specified amount of time - this would be called a...






27. The recording of a deed that provides everyone with a notice that a valid conveyance has occurred is called...






28. Which of the following can use the right of Eminent Domain?






29. When any interest possessed by the grantor is conveyed to the grantee - without any warranties this is called...






30. For the past several years - high waters have been dumping substantial amounts of soil onto Doug's property. This event is known as...






31. Noun: The action of pulling or tearing away. The sudden separation of land from one property and its attachment to another - esp. by flooding or a change in the course of a river.






32. The right of a government or its agent to expropriate private property for public use - with payment of compensation.






33. In site analysis - an appraiser needs a deed description to determine...






34. Which of the following would be included in the 'public limitations on real estate ownership'?






35. (an) Esement defined in general terms - without a definite location or description






36. immobile - heterogeneous and has long asset life?






37. Which of the following best describes installment or land contract?






38. If a property has more than one owner - and upon death of one of the owners the deceased rights to the property is passed to the surviving owners - this is called...






39. Cecil hired a contractor to repair a sinking foundation. Unfortunately for the contractor - Cecil failed to pay for the completed work. Which of the following would incorrectly describe the likely events.






40. Which is the superior lien?: First Mortgage - IRS Tax Lien - merchants lien - Real estate Taxes






41. In which flood hazard boundary map is the greatest hazard?






42. 'X' leased his property to 'Y' - who in turn sub-leased the property to 'Z'. Which of the following Statements is true.






43. Which of the following would not be considered a commonly accepted form of a 'Legal Description'?






44. this easement may be 'granted' or 'reserved' in a deed or other legal instrument. Alternatively - it may be incorporated by reference to a subdivision plan by 'dedication' - or in a restrictive covenant in the agreement of an owners association.






45. Zoning regulations are concerned with...






46. The recording of a deed that provides everyone with a notice that a valid conveyance has occurred is called...






47. The document that states all the rights of use and the occupancy of the property for a given period of time and a given amount of rent is called ___






48. The document that states all the real property interests or estate interest that includes all the information about surface rights and subsurface rights etc. is called the ___






49. Alfred and James wrote up a lease agreement that would give Alfred (the tenant) the right to extend the lease when it expires. Although Alfred is not obligated to extend the lease - if the option is exercised - the payment amount and the length of th






50. Which of the following major forces of influence on real estate value covers zoning?







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