California Real Estate Agent Exam Questions and Answers

California Real Estate Agent Exam Questions and Answers Agent Course Work - Answer-To qualify to take the real estate agent license CalBRE exam, an applicant completes a three-semester unit course, or the quarter equivalent, in: • real estate principles; • real estate practice; and • one elective course in the following subjects: • legal aspects of real estate; • real estate finance; • property management; • real estate appraisal; • real estate economics or accounting; • business law; • real estate office administration; • escrows; • mortgage brokering and lending; • common interest developments (CIDs); or • computer applications in real estate.1 Exempt from real estate licensing requirements: - Answer-• a person dealing with their own property, called a principal; • an officer of a corporation, or a general partner of a partnership or a manager of a limited liability company (LLC), collectively called entities, with respect to property owned or leased by the entity. To be exempt, the acts may not be performed in expectation of a fee; • an individual with power-of-attorney authority; • an attorney rendering legal services for a client; • a receiver, trustee in bankruptcy or any person acting under order of a court; • a trustee of a trust deed lien who is acting under a power-of-sale provision in the trust deed;16 or • a resident manager of an apartment complex, hotel, motel or trailer park.17 Exempt individuals: unlicensed employees - Answer-accept reservations or money for transient occupancy in: • vacation rentals such as hotels, motels or residence clubs; • common interest developments (CIDs), such as condominium projects, planned urban developments (PUDs), community apartment projects and stock cooperatives; or • an apartment unit or single family residence (SFR).