California Exam Prep Questions & Answers 100% Correct(SCORED A)

Legally, what is the nature of agency relationships between brokers and principals? - ANSWERSpecific agency CalVet loans - ANSWER1.) Land contract 2.) No prepayment penalty 3.) Offers below market interest rates A broker who changes his/her main office address must forward a written notice to the DRE in Sacramento... - ANSWER1.) No later than the next business day. 2.) Broker or corporate change application. RE204 3.) No fee required. Allison has just qualified for her sales person license. How much time does she have to file her application to practice? - ANSWEROne year from the date she passed the exam. How many years after expiration must pass until all license rights lapse? - ANSWERTwo years. The individual will be required to re-qualify through the examination process before being licensed in real estate. Barb is alone in the real estate office. A perspective buyer calls asking for the price and location of an advertised property. As an unlicensed secretary, what actions may Barb take? - ANSWERGive them the price and location, and request the prospective buyer's name and phone number. Tell them a broker will call them back. Broker Bianka was guilty of converting $100,000 worth of trust funds. She was unable to pay and the recovery fund had to pay the victim $50,000. What must Bianka due to continue selling real property? - ANSWERBianka's license is suspended until she pays the Recovery Fund back with interest.