California Real Estate Exam Prep | 720 Questions with 100% Correct Answers | Verified | Latest Update 2024 | 71 Pages

According to the Sherman Anti-Trust Act, if a real estate agency instructed all of the salespersons and associate brokers that they were to set their commissions at 3%, and they all agree to do so, this would be - Not a violation of the Sherman Anti-Trust Act In order to have a valid agency relationship, the commission agreement must be - In writing If you are referring to "the principle" in real estate, you are referring to - The part of the monthly payment that reduces the remaining balance of a mortgage In California, the knowledge and consent of both parties (the buyer and the seller) must be obtained prior to the sale in order for the broker or agent to - Collect a commission from both parties "A pamphlet provided by the EPA entitled Protect Your Family From Lead In Your Home is to be given to tenants" would be a false statement regarding the - Residential Lead-Based Paint Hazard Reduction Act Assessment bonds are used by the county to pay for what in a subdivision? - Street lights, curbs, sewers, and other needs If a contract was valid upon its creation but has subsequently passed the statute of limitations, the contract is now considered - Unenforceable Under what type of lease does the tenant pay a fixed rental amount and the landlord pays all of the operating expenses for the premises? - Gross lease After reconciliation of a trust fund, it is found to have a greater balance than it should have. This is called a - Trust fund overage