Michael Lustig - California Real Estate Broker Exam High-Score Kit

CALIFORNIA REAL ESTATE BROKER EXAMHIGH SCORE KIT Smashwords Edition Prepared byMichael Lustig ContributingEditor: Denise Iona Copyright 2011-1978 by Michael Lustig SmashwordsEdition 2550Questions with Fully Explained Answers, with TopicsCross-Referenced to the Appropriate Pages of the D.R.E. ReferenceBook. Includes Over 80 Tips on How to Pass Your RealEstate Broker Exam Distributedby:
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Visit http://relstone.com/mobile.html Also forthe lowest prices on the Real Estate Principles course, Real EstatePractice course, or for any other pre-license real estate coursesor continuing education courses, go to http://www.rels.com or call1-800-877-5445. Copyright 2011-1978 by Michael Lustig. Copyright registered. All contentsprotected by laws of copyright.

No portion of this book and noportion of the Real Estate Broker Exam High Score Kit may be reprinted, reproduced,transmitted, stored in a retrieval system, placed in a computer oron the Internet, or otherwise utilized, in any form or by any meanselectronic or mechanical, including photocopying or recording, nowexisting or hereinafter invented, nor may any part of this coursebe used for teaching without the prior written consent of MichaelLustig. TABLE OF CONTENTS INTRODUCTION Before you takeyour state exam, be prepared! The questions found in this book havebeen carefully selected to help you pass your states real estatelicense examination in the following areas: PropertyOwnership and Land Use Controls and Regulations Laws ofAgency Valuation andMarket Analysis Financing Transfer ofProperty Practice of RealEstate and Mandated Disclosures Contracts You will findquestions on key terms and phrases. The material found inside thesepages is a very effective way to prepare for your license exam.Read each question carefully, select the answer you believe to bemost accurate, then compare your answer with the correct answer.Read the explanation provided to help you with any questions youmay have answered incorrectly. Goodluck! TIPS ONHOW TO PASS YOUR REAL ESTATE LICENSE EXAM 1. THE NEED FOR STUDY: Though it mayseem obvious, the most important tip is this: There is simply nosubstitute for your own study. A wide range of material isavailable to help you prepare for your real estate exam, but in theend the results are produced by the efforts put forth in studying.In fact, it is a good idea to study a minimum six hours a daystarting at least a week before your exam.

Use sample exam-style questions as a guide foryour study, and when you answer a question incorrectly, look up theanswer in your study material (whatever you are using) to make sureyou have an accurate understanding of the subject matter. As withanything else, what you take from your study will be proportionalto the effort you put into it. The real key to passing your exam,of course, is to know the material well enough to answer a highenough percentage of questions correctly to pass theexam. 2. HOW TO STUDY: Another question oftenasked is: "What is the best way to study?" The best way is the waythat works for you. The method of study is a matter of personalpreference, and only you can say which techniques will serve youbest.

Some like to study slowly and steadily over many weeks, whileothers prefer to cram during the last few days. Some like to restthe day or two before the exam and not even think about the subjectof the exam. Others study up until the moment they step inside theexamination room. You should use whatever method you personallyfind to be the most effective. 3. WHAT TO TAKE INTO THE EXAM: You willnot be permitted to take any study material into the examinationroom.

However, you may have a calculator, provided that it iselectronic, operates silently (producing no beeps, chimes, bells,or other noises), and has no paper printout capability. You should,in fact, take a calculator because you will save a lot of time inanswering the math questions. And make sure your calculator has afresh battery! Once in the exam room, you will be giveneverything you will need to take your exam: pencil, answer sheet,and scratch paper. Listen carefully to the oral instructions andthoroughly read the instructions in your test booklet. Anyonecaught cheating runs the risk of prosecution and being permanentlybarred from taking the exam or holding a real estatelicense. STRATEGY - HOW TO PACE YOURSELF ANDAVOID PANIC: When you begin the exam, don't panic. STRATEGY - HOW TO PACE YOURSELF ANDAVOID PANIC: When you begin the exam, don't panic.

Naturally,some of the questions will be difficult, and there will be somequestions to which you may not know the answers. Remember to pace yourself and spend no morethan about one minute on each question. The best thing to do is tolist the numbers of the most difficult questions in one corner ofyour scratch paper as you come across them and then go on to otherless difficult questions. When you have finished answering all therelatively easy questions, go back and tackle the difficult ones.In this way, you will not waste your time on questions you cannotanswer and risk running out of time on the others. When you return to your list of difficultquestions, be sure to cross them off the list as you are able toanswer them. Again, do not spend too much time on questions youcannot answer.

Time permitting, go through the list a third timeand try to answer the questions again. If you run out of time, take the last coupleof minutes of the exam to make wild guesses at the questions youhave not answered. You have a one in four chance of gues singcorrectly with each question, and there is no penalty for a wronganswer. 5. EXAM MATH: Make sure you check yourmath carefully. Generally, about 12 to 30 questions on the examinvolve math.

Even if you are not especially good at arithmetic,don't worry because you can miss every arithmetic question andstill pass the exam (if you do well on the remainder of your exam).Nevertheless, it is a good idea to aim high and attempt to answerevery question correctly, whether it involves math ornot. Be sure to read each question carefully andcompletely, and be sure to read all the possible answers beforemarking your answer. Sometimes, in their enthusiasm, exam takerswill read a question, see that the answer "a" is correct, and theymark it correct. They do not read answers "b," "c," and "d." Theonly problem is that answers "b" and "c" may also be correct, andanswer "d" is the choice that should have been marked correctbecause it read, "all of the above." 6. TRICKS TO REMEMBER AND TRICKQUESTIONS: Watch out for questions that say "except for," asin: All of the following are types of easementsexcept for: a. easement in gross
c. easement appurtenant
d. easement by adverse prescription ("d" is the answer.) If you are careless and do not read thequestion carefully, you will get this type of question wrong.Often, there are several "except for" or "which one is not" typesof questions on the exam. easement by adverse prescription ("d" is the answer.) If you are careless and do not read thequestion carefully, you will get this type of question wrong.Often, there are several "except for" or "which one is not" typesof questions on the exam.