CA Real Estate Principles Test Aceable Agent Exam Questions And Answers

CA Real Estate Principles Test Aceable Agent Exam Questions And Answers In what code is the Real Estate Law found? - ANS Business and Professions Code Who does the Real Estate Commissioner Report to? - ANS The governor A salesperson owns 25% of the outstanding shares of Rollo Reality Inc and the broker owns the remaining shares. Is the division ownership acceptable or unacceptable? - ANS Acceptable A salesperson is part owner of Rollo Realty Inc. In the broker's absence, the salesperson frequently reviews the work of sales associates. This is: - ANS Prohibited A real estate business that is a partnership can have more than once office location, provided what? - ANS A broker partner obtains an additional license for each location The sale or transfer of goods ordinarily held for sale in the course of business is governed in CA by what? - ANS The Uniform Commercial Code An officer of Ajax Corporation who is not a real estate license, successfully negotiated the purchase of Smith Widget of behalf of Ajax. The officer received a commission on the sale in addition to his normal salary. Should the officer of Ajax have had a real estate license? - ANS Yes True or False: If a real estate license is NOT renewed before it expired, the licensee may act under authority of another agent's license for a period not exceeding 60 days. - ANS False: The former licensee must cease all real estate activities until it is renewed A real estate licensee can offer a mobile home for sale that is in what type of location? - ANS A location where it can legally remain for one year A couple desperately wants to move to Pine Bend, and they like the seller's house, which is listed with a broker. The couple tells the broker they will "make it worth his while" if he can persuade the sellers to accept their offer, and they send an expensive food basket to the broker as a sign of their good faith. The broker neglects to mention this to the sellers. This practice is: - ANS Prohibited A broker routinely places earnest money deposits in his personal account for overnight safekeeping. This practice is: - ANS Prohibited