61. Constructive notice of a lien is given when a party records a:

A. Notice of non-responsibility

B. Deed of trust

C. A quit claim deed relinquishing an easement

D. A grant deed with restrictions

Answer: B. Deed of trust

62. When a real estate broker is charged with conversion it most generally involves:

A. Client’s funds

B. Subdivision reports

C. Commingling

D. Misrepresentation

Answer: A. Client’s funds

63. In real estate financing the secondary mortgage market relates to:

A. Junior liens

B. Transfers of mortgages between mortgagees

C. Participation in real estate financing by out-of-state lenders

D. Federal policing of the savings and loan associations

Answer: B. Transfers of mortgages between mortgagees

64. A real estate broker found guilty of discriminatory practices would be subject to which of the following penalties?

A. Payment of actual damages

B. Payment of $250 to the injured party

C. Suspension or revocation of his license

D. Any of the above

Answer: D. Any of the above

65. Under the Federal Fair Housing Law, if persons of a minority race contact a real estate office and ask any one of the sales staff about the availability of homes in a certain price bracket, and indicate their interest in inspecting the homes, the salesperson is required to:

A. Show them the same number of homes that would be shown to any prospect making a similar inquiry

B. Show the prospects at least six homes in that price bracket

C. Inquire if they are interested in homes located in a Caucasian neighborhood

D. Show them an equal number of homes located in both the Caucasian and the minority race neighborhoods

Answer: A. Show them the same number of homes that would be shown to any prospect making a similar inquiry

66. Title to real property may be transferred or conveyed in all of the following ways except:

A. Deed

B. Prescription

C. Will

D. Escheat

Answer: B. Prescription

67. A remedy in court compelling a vendor to execute a deed in pursuance of a valid written contract is known as:

A. Specific performance

B. Foreclosure

C. Execution

D. Equity of redemption

Answer: A. Specific performance

68. The status of the escrow holder for both parties is that of:

A. An employee

B. Independent contractor

C. An agent

D. An arbitrator

Answer: C. An agent

69. A survey that refers to fractional sections, townships and ranges is a legal description by:

A. Metes and Bounds

B. Recorded map

C. U.S. Government Survey

D. None of the above

Answer: C. U.S. Government Survey

70. Johnson used a one lane road to get to his mountain cabin. One day he found the road blocked by a chain across the road with a lock. This action by his neighbor had to do with which of the following?

A. Easements

B. Restrictions

C. Insurance

D. Eminent domain

Answer: A. Easements