CA Real Estate Principles Course (Unit Exams) - 45
Hours Online Course: : Questions With Solutions
How are members selected to serve on the Real Estate Advisory Commission?
Right Ans - They are appointed by the Real Estate Commissioner
How many members make up the Real Estate Advisory Commission? Right
Ans - 10
What is the role of the Real Estate Commissioner? Right Ans - Act as chief
executive officer of the California DRE
Which of these describes the composition of the California Department of Real
Estate Advisory Commission? Right Ans - Twelve members, six of whom
are real estate brokers and six who are unlicensed consumers
What must be true for a corporation to conduct real estate activities? Right
Ans - At least one officer must hold a broker license
Which of the following actions can an individual holding only a prepaid rental
listing service (PRLS) license perform? Right Ans - Providing listings of
residential properties available for rent to prospective tenants for a fee
Angela is an unlicensed assistant working with Sam, a licensed salesperson.
The following tasks are on their plates. Which of these actions can only Sam
perform? Right Ans - Negotiate on the client's behalf
Which real estate brokerage ownership types require a separate license?
Right Ans - Corporations only
Amy acts like a salesperson and is supervised by a broker, but she holds her
broker's license. What is her job title? Right Ans - Associate broker
Which real estate brokerage ownership types may do business under a
fictitious name? Right Ans - Sole proprietorships, partnerships, and
corporations
,Which of the following statements best describes a sole proprietor? Right
Ans - A brokerage owned by a single person
Which of the following statements best describes a real estate corporation?
Right Ans - An entity owned by one or more parties
Which of these real estate licensees may be exempt from the continuing
education requirements for license renewal? Right Ans - Al is 70 years old
and has been licensed in good standing for 30 consecutive years.
How many hours of continuing education must a California licensee complete
in order to renew a real estate license? Right Ans - 45 hours
Jackson holds a real estate broker license with an MLO endorsement. How
often must he renew his MLO endorsement? Right Ans - Every year
What is the minimum amount of full-time real estate industry experience that
an individual must have to qualify for a broker's license? Right Ans - Two
years
California licensee Donald has a new listing for the house next door to his.
He's never had problems with these neighbors and hopes to keep it this way
by making sure the "right" people move in. He doesn't show the property to
any prospective buyers with children. These actions soon bring complaints of
a fair housing violation. What effect does this have on Robert (Donald's
sponsoring broker)? Right Ans - Robert is liable for Donald's actions and
could be sanctioned along with Donald as a result of Donald's fair housing
violation.
To best prevent risk associated with licensee non-compliance with real estate-
related federal regulations, brokerage firms should do which of the following?
Right Ans - Include a review of related federal legislation in the policies and
procedures manual and provide appropriate training.
As a managing broker, you're responsible for your associate brokers' actions.
Which of the following risk management techniques helps prevent the risk
associated with vicarious liability? Right Ans - Providing training and
policies/procedures documentation to staff
,Steve holds a real estate license in Oregon but would also like to perform real
estate activities in California. What must he do? Right Ans - California does
not have reciprocity agreements with any other states. Individuals licensed in
other states must complete all of the requirements that an unlicensed
individual completes.
Bobby is representing his fiancé in a real estate transaction. Does he have any
special disclosure requirements? Right Ans - Yes, because all special
relationships must be disclosed
If your license is suspended, it's only temporary. If your license is revoked, it is
permanently removed and requires ______. Right Ans - A new license
application after the penalty period
Seamus sent a letter to the residents of Maywood Park, stating, "The Mormons
are moving in! Sell your houses before property values plummet." This is a fair
housing violation, and also ______. Right Ans - A license law violation
If a licensee commits a violation and it's found the broker didn't adequately
supervise the licensee, whose license in jeopardy? Right Ans - Both the
broker's and licensee's
Which physical characteristic of land addresses the concept that land isn't
interchangeable, and one piece of land isn't exactly like another? Right Ans
- Uniqueness
What are improvements with regard to property? Right Ans - Artificial
attachments to land that include items such as fencing, buildings, and
walkways
Shannon's rural property in San Diego County has a small stream that runs
across one corner where her horses are pastured, and her horses use it as a
water source. What's true about this situation? Right Ans - Shannon has a
riparian right to use the water flowing across her property as a water source
for her animals, though she may not divert the water.
Which physical characteristic of land addresses the concept that while
improvements may deteriorate over time, the land itself cannot be destroyed?
Right Ans - Indestructibility
, The right to access rivers, streams, and other flowing bodies of water adjacent
to a property is called ______. Right Ans - Riparian
Sally and Pete are city dwellers who have always dreamed of living in a rural
setting. When Pete inherits a 600-acre cattle ranch from his uncle, they don't
waste a moment packing up and moving to the ranch. What category of real
estate is their new home considered? Right Ans - Agricultural
Display shelves installed by a business owner in a rented building are a good
example of ______. Right Ans - Trade fixtures
Juan has decided to invest his small inheritance in real estate. He is drawn to
the fact that he can add a building where there wasn't one previously and
immediately increase the value of his investment. Which economic
characteristic of real property is this? Right Ans - Improvements
Bart just toured his fourth patio home of the day. To help him remember what
he saw in each one, he's making notes about décor, updates, and inclusions
that will stay with the property. Which of the following items is NOT
considered personal property and would therefore stay with a home? Right
Ans - The chandelier in the foyer
Which of the following are included in the transfer of real property unless
specifically excluded in writing? Right Ans - Fixtures
Which of the following would used to describe an item that is both a fixture
and real property? Right Ans - In-ground
What's contained in a UCC security agreement? Right Ans - A complete
description of the personal property used as collateral
Dan and Rita are a married couple in California. Which of these items will NOT
become community property for them? Right Ans - The ruby slippers Rita
inherits from her Auntie Em.
Debbie and Chris are a married couple in California. When they purchase their
first home together, they want to make sure that if one of them dies, the other
will inherit ownership of the property. How should their ownership be
Hours Online Course: : Questions With Solutions
How are members selected to serve on the Real Estate Advisory Commission?
Right Ans - They are appointed by the Real Estate Commissioner
How many members make up the Real Estate Advisory Commission? Right
Ans - 10
What is the role of the Real Estate Commissioner? Right Ans - Act as chief
executive officer of the California DRE
Which of these describes the composition of the California Department of Real
Estate Advisory Commission? Right Ans - Twelve members, six of whom
are real estate brokers and six who are unlicensed consumers
What must be true for a corporation to conduct real estate activities? Right
Ans - At least one officer must hold a broker license
Which of the following actions can an individual holding only a prepaid rental
listing service (PRLS) license perform? Right Ans - Providing listings of
residential properties available for rent to prospective tenants for a fee
Angela is an unlicensed assistant working with Sam, a licensed salesperson.
The following tasks are on their plates. Which of these actions can only Sam
perform? Right Ans - Negotiate on the client's behalf
Which real estate brokerage ownership types require a separate license?
Right Ans - Corporations only
Amy acts like a salesperson and is supervised by a broker, but she holds her
broker's license. What is her job title? Right Ans - Associate broker
Which real estate brokerage ownership types may do business under a
fictitious name? Right Ans - Sole proprietorships, partnerships, and
corporations
,Which of the following statements best describes a sole proprietor? Right
Ans - A brokerage owned by a single person
Which of the following statements best describes a real estate corporation?
Right Ans - An entity owned by one or more parties
Which of these real estate licensees may be exempt from the continuing
education requirements for license renewal? Right Ans - Al is 70 years old
and has been licensed in good standing for 30 consecutive years.
How many hours of continuing education must a California licensee complete
in order to renew a real estate license? Right Ans - 45 hours
Jackson holds a real estate broker license with an MLO endorsement. How
often must he renew his MLO endorsement? Right Ans - Every year
What is the minimum amount of full-time real estate industry experience that
an individual must have to qualify for a broker's license? Right Ans - Two
years
California licensee Donald has a new listing for the house next door to his.
He's never had problems with these neighbors and hopes to keep it this way
by making sure the "right" people move in. He doesn't show the property to
any prospective buyers with children. These actions soon bring complaints of
a fair housing violation. What effect does this have on Robert (Donald's
sponsoring broker)? Right Ans - Robert is liable for Donald's actions and
could be sanctioned along with Donald as a result of Donald's fair housing
violation.
To best prevent risk associated with licensee non-compliance with real estate-
related federal regulations, brokerage firms should do which of the following?
Right Ans - Include a review of related federal legislation in the policies and
procedures manual and provide appropriate training.
As a managing broker, you're responsible for your associate brokers' actions.
Which of the following risk management techniques helps prevent the risk
associated with vicarious liability? Right Ans - Providing training and
policies/procedures documentation to staff
,Steve holds a real estate license in Oregon but would also like to perform real
estate activities in California. What must he do? Right Ans - California does
not have reciprocity agreements with any other states. Individuals licensed in
other states must complete all of the requirements that an unlicensed
individual completes.
Bobby is representing his fiancé in a real estate transaction. Does he have any
special disclosure requirements? Right Ans - Yes, because all special
relationships must be disclosed
If your license is suspended, it's only temporary. If your license is revoked, it is
permanently removed and requires ______. Right Ans - A new license
application after the penalty period
Seamus sent a letter to the residents of Maywood Park, stating, "The Mormons
are moving in! Sell your houses before property values plummet." This is a fair
housing violation, and also ______. Right Ans - A license law violation
If a licensee commits a violation and it's found the broker didn't adequately
supervise the licensee, whose license in jeopardy? Right Ans - Both the
broker's and licensee's
Which physical characteristic of land addresses the concept that land isn't
interchangeable, and one piece of land isn't exactly like another? Right Ans
- Uniqueness
What are improvements with regard to property? Right Ans - Artificial
attachments to land that include items such as fencing, buildings, and
walkways
Shannon's rural property in San Diego County has a small stream that runs
across one corner where her horses are pastured, and her horses use it as a
water source. What's true about this situation? Right Ans - Shannon has a
riparian right to use the water flowing across her property as a water source
for her animals, though she may not divert the water.
Which physical characteristic of land addresses the concept that while
improvements may deteriorate over time, the land itself cannot be destroyed?
Right Ans - Indestructibility
, The right to access rivers, streams, and other flowing bodies of water adjacent
to a property is called ______. Right Ans - Riparian
Sally and Pete are city dwellers who have always dreamed of living in a rural
setting. When Pete inherits a 600-acre cattle ranch from his uncle, they don't
waste a moment packing up and moving to the ranch. What category of real
estate is their new home considered? Right Ans - Agricultural
Display shelves installed by a business owner in a rented building are a good
example of ______. Right Ans - Trade fixtures
Juan has decided to invest his small inheritance in real estate. He is drawn to
the fact that he can add a building where there wasn't one previously and
immediately increase the value of his investment. Which economic
characteristic of real property is this? Right Ans - Improvements
Bart just toured his fourth patio home of the day. To help him remember what
he saw in each one, he's making notes about décor, updates, and inclusions
that will stay with the property. Which of the following items is NOT
considered personal property and would therefore stay with a home? Right
Ans - The chandelier in the foyer
Which of the following are included in the transfer of real property unless
specifically excluded in writing? Right Ans - Fixtures
Which of the following would used to describe an item that is both a fixture
and real property? Right Ans - In-ground
What's contained in a UCC security agreement? Right Ans - A complete
description of the personal property used as collateral
Dan and Rita are a married couple in California. Which of these items will NOT
become community property for them? Right Ans - The ruby slippers Rita
inherits from her Auntie Em.
Debbie and Chris are a married couple in California. When they purchase their
first home together, they want to make sure that if one of them dies, the other
will inherit ownership of the property. How should their ownership be
