California Real Estate Practice Exam

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What common characteristic is shared by planned development, condominium, time-share, and stock cooperative projects?

  1. They require city council approval

  2. They are all commercial properties

  3. They are subject to environmental regulations

  4. They are all common interest subdivisions

The correct answer is: They are all common interest subdivisions

Planned development, condominium, time-share, and stock cooperative projects all fall under the category of common interest subdivisions. This means that the properties share common areas or facilities and have shared community responsibilities, such as maintenance and expenses. Options A, B, and C are not characteristics that are necessarily shared by all of these types of projects. City council approval may be required for planned development, but not for the others. Condominiums and time-shares can also be residential properties, not just commercial. And while some of these projects may be subject to environmental regulations, it is not a defining characteristic that they all share.

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