41. Which of the following would be appurtenant to land?

A. Anything acquired by legal right that is to be used with the land for its benefit

B. A right of way over another’s adjoining land

C. Stock in a mutual water company

D. All of the above

Answer: D. All of the above

42. Under a tenancy-in-common ownership, a co-owner may do which of the following with their interest?

A. Dispose of it by sale or gift

B. Will it

C. Mortgage it

D. Any of the above

Answer: D. Any of the above

43. One who holds a fee simple estate holds:

A. An estate in land

B. An Easement over the property of another

C. A Deed restriction regulating the use of land

D. An interest that is less than freehold

Answer: A. An estate in land

44. Which of the following would not be classified as obsolescence?

A. Outdated fixtures

B. Declining neighborhood

C. Wear and tear

D. Misplaced improvements

Answer: C. Wear and tear

45. Which of the following selling prices would not be used when appraising a single family residence using the market data approach?

A. Residences in the immediate neighborhood but of a smaller size

B. Similar homes that sold six months ago

C. A home of the same size but in a different neighborhood

D. One sold at foreclosure

Answer: D. One sold at foreclosure

46. A Tract developer learns that a large national cosmetics manufacturer is moving one of its plants near an area in which he is building a large number of new homes and condominiums. Since a great number of the employees of the cosmetic firm will be women, he decides to gear his sales promotion towards this group. He tells his advertising agency to aim all of their ads to reflect a preference for female buyers. Realizing he can’t discriminate towards any one racial group, he advises his sales agent to be sure to set up a quota for Caucasian, Black, Chicano, and Asian buyers. Once the quota has been reached they should discourage any further sales to that racial group by adjusting the prices. If the developer follows this plan, he violates:

A. No fair housing laws 

B. The fair housing laws based on his ad campaign but not the quota system 

C. The fair housing laws based on his racial quota system but not the ad campaign 

D. The fair housing laws in both his ad campaign and racial quota system

Answer: D. The fair housing laws in both his ad campaign and racial quota system

47. Under a joint tenancy holding, none of the owners may:

A. Sell their interest

B. Will their interest

C. Borrow money on their interest

D. Give away their interest

Answer: B. Will their interest

48. A mortgage company would give the least consideration to which of the following in granting a loan?

A. Borrower’s present income and future income

B. Value of the property in relation to the loan

C. Borrower’s need for financial assistance

D. Amount of down payment

Answer: C. Borrower’s need for financial assistance

49. The California Fair-Employment and Housing Act prohibits discrimination based on race when providing housing accommodations, by:

A. A real estate agent

B. A landlord

C. An owner

D. Any of the above

Answer: D. Any of the above

50. A court order by which property is seized and held as security for a possible future judgment is a:

A. Homestead Declaration

B. Writ of Attachment

C. Trustee’s Deed

D. Notice of Nonresponsiblity

Answer: B. Writ of Attachment