201. A broker received 40 acres of land as commission. Two weeks after escrow closed, the broker was offered a higher price per acre. If the broker accepts the offer, he:

A. Is guilty of making a secret profit

B. Would be acting unethically

C. Will be acting in an acceptable manner

D. Must notify the seller in writing of the profit

Answer: C. Will be acting in an acceptable manner

202. The words “procuring cause” would have an important meaning in which situation?

A. A dispute over commission on an open listing

B. A listing that does not have a definite termination date

C. A listing that is canceled when the property is sold

D. A broker who has advertised a property sold under an agency listing

Answer: A. A dispute over commission on an open listing

203. Which of the following is not an essential element of a contract?

A. Offer

B. Acceptance

C. Consideration

D. Performance

Answer: D. Performance

204. Under the Street Improvement Act of 1911, improvements are assessed on the basis of:

A. Square footage

B. Front footage

C. Amount of benefit to each owner

D. The increase in value to the property

Answer: B. Front footage

205. A broker finds a cooperating broker without notifying the principal. The cooperating broker owes fiduciary duties to whom?

A. Principal

B. The original broker

C. No one

D. Both A and B

Answer: A. Principal

206. The landmark case of the United States Supreme Court which prohibited discrimination in housing was:

A. Weinhoff vs. Morgan

B. Shaffer vs. Beinhorn

C. Jones vs. Mayer

D. Unruh vs. Rumford

Answer: C. Jones vs. Mayer

207. Most real estate syndicates created in California have taken the form of a:

A. Corporation

B. Limited partnership

C. Joint venture

D. Real Estate Investment Trust

Answer: B. Limited partnership

208. Under the California Veterans Home and Farm Purchase Act of 1974, the purchaser acquires possession through a:

A. Grant deed

B. Warranty deed

C. Land contract

D. Special state deed

Answer: C. Land contract

209. Which of the following has control over the approval of a subdivision under the Subdivision Map Act?

A. Real Estate Commissioner

B. State Contractors License Board

C. Planning Commission

D. County Board of Supervisors

Answer: C. Planning Commission

210. A grant deed:

A. Warrants that there are no encumbrances on the property being conveyed

B. May be used to transfer both real and personal property

C. Warrants that the property has not been previously conveyed by the grantor

D. May be delivered conditionally

Answer: C. Warrants that the property has not been previously conveyed by the grantor