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Real Estate Salesperson Exam — National Portion

Taxes (CA): practice questions

Our Real Estate (National) bank has 6 questions on this topic. Here are 5 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · California

What limits yearly increases in California property assessments for most owners?

  1. The Subdivided Lands Act
  2. Proposition 13
  3. The Mello-Roos Act
  4. The Davis-Stirling Act
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B. Proposition 13 — Increases are generally capped at 2% a year until the property changes owner.

Question 2 · California

Within how many days must a buyer file a change in ownership statement if the transfer isn't recorded?

  1. 1 full year
  2. Never
  3. 45 days
  4. 5 days
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C. 45 days — Late filing after a written request brings a penalty.

Question 3 · California

What is California's homeowners' exemption on an owner-occupied residence?

  1. $7,000 of full value
  2. $70,000 of full value
  3. $700
  4. The whole value
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A. $7,000 of full value — It applies to homes occupied by the owner on the lien date.

Question 4 · California

Under Proposition 13, by how much may a California property's assessed base value rise each year without a sale or new construction?

  1. No more than 5%
  2. No more than 10%
  3. No more than 2%
  4. Any amount
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C. No more than 2% — A change of ownership sets a new base year value.

Question 5 · California

When do California property taxes become a lien on real property?

  1. On 31 December after the fiscal year has ended
  2. Only after a court order
  3. On the day the tax bill is paid
  4. On 1 January before the fiscal year for which they are levied
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D. On 1 January before the fiscal year for which they are levied — The fiscal year runs from 1 July to 30 June.

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