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California Real Estate Exam Review 7

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What date does the first installment of taxes become delinquent?
December 10th
Amanda bought a parcel of land measuring 110 by 220 yards. How many acres are in this parcel?
5 acres
The amount of rent the appraised property probably would command at the date of appraisal is called?
market rent
Of the following, which is the closest to highest and best use?

A. gross income
B. greatest net income
C. 100% location
D. Southwest corner of an intersection
B. greatest net income
Which of the following would be a freehold estate?
A. Estate in fee
B. Estate at will
C. Periodic tendency
D. leasehold estate
B
All the rest are less than freehold estates.
The period of time in which an income property produces enough to maintain itself and show a profit is known as....
Economic Life
Value is created by the anticipation of....
future benefits
A listing would most likely be?
high market value
An Exclusive Authorization and Right to Sell Listing just entered into can be described as ?
bilateral executory contract
When a borrower fails to pay it is known as?
default
The mathematical process of converting investment inflows or an income stream into a present value is commonly referred to as?
Discounting
A series of equal periodic payments or receipts is referred to as?
an annuity
If a salesman sold a parcel of land with 800 front feet at $100 a front foot, and he was to receive 40% of his broker's 6% commission, he would receive?
$1920
The extension of some improvement or object, such as a building or driveway, across the legal boundary of an adjoining tract of land is referred to as?
an encroachment
The upper limits of value are determined by which approach?
reproduction

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