California Real Estate Practice Exam

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Master the California Real Estate Exam with our comprehensive practice quiz. Get expert tips, detailed content review, and insider strategies to pass on your first try.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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The four year statute of limitations with respect to a foreclosure applies to

personal loans only.
judicial foreclosure only.
non-judicial foreclosure only.
both judicial and non-judicial foreclosure.

The correct answer is: judicial foreclosure only.

In this question, the four year statute of limitations refers specifically to a foreclosure, which is a legal process used by lenders to take ownership of a property when a borrower fails to make mortgage payments. While the statute of limitations may vary depending on the state, in general, it starts from the date of the last missed payment. Option A is incorrect because a personal loan is not tied to a specific property, therefore foreclosure does not apply. Option C is incorrect because non-judicial foreclosure refers to a type of foreclosure process that does not involve the court system, but it still falls under the four year statute of limitations. Option D is also incorrect because it includes both judicial and non-judicial foreclosure, when the question is specifically asking about the limitation for one of these types - judicial foreclosure.