California Real Estate Principles - Questions
and Answers
9 studiers in 3 days 4.7 (17 reviews)
Students also studied
Flashcard sets Study guides
Real Estate Principles Final Exam California Real Estate Practice - Qu... California Real Estate Exam Multiple... Califor
100 terms 150 terms 510 terms 150 term
Layla_Armouchian Preview mikebaseball Preview adam_salzberg Preview opp
Terms in this set (393) Hide definitions
(1) 1. The Real Estate Law is found in the Business and Professions Code
a. Licensing Code
b. Business and Professions Code
c. Health and Safety Code
d. Corporations Code
(1) 2. The Real Estate Commissioner reports to the governor
a. California Bureau of Real Estate
b. governor
c. Real Estate Advisory Commission
d. legislature
(1) 3. Salesperson Sam owns 25% of the outstanding acceptable
shares of Rollo Realty, Inc., and broker Barbara Rollo
owns the remaining shares. This division of ownership is?
a. acceptable
b. mandated
c. discouraged
d. prohibited
,(1) 4. Salesperson Sam is part owner of Rollo Realty, Inc. prohibited
In the broker's absence, Sam frequently reviews the work
of sales associates. This is?
a. acceptable
b. mandated
c. discouraged
d. prohibited
(1) 5. A real estate business that is a partnership can have a broker partner obtains an additional license for each location
more than one office location, provided
a. a broker partner obtains an additional license for each
location
b. all partners are real estate licensees
c. there is a designated broker-officer
d. there is at least one partner at each location
(1) 6. The sale or transfer of goods ordinarily held for sale Uniform Commercial Code
in the course of business is governed in California by the?
a. Business Opportunity Code
b. Commercial Transfer Law
c. Uniform Commercial Code
d. Real Estate Law
(1) 7. Todd, an officer of Ajax Corporation and not a real should have had a real estate license
estate licensee, successfully negotiated the purchase of
the Smith Widget Plant on behalf of Ajax. Todd received a
commission on the sale in addition to his normal salary.
Todd
a. did not need a real estate license for the deal
b. should have had a real estate license
c. is exempt from licensing requirements
d. None of these
(1) 8. If a real estate license is NOT renewed before it must cease all real estate activities
expires, the licensee?
a. is allowed to complete transactions in progress
b. is allowed to finish transactions that are substantially
complete
c. must cease all real estate activities
d. may act under authority of another agent's license for a
period not to exceed 60 days
, (1) 9. A real estate licensee can offer a mobile home for in a location where it can legally remain for one year
sale that is?
a. in a manufacturing plant, ready for delivery
b. transportable under an exemption from the vehicle
code
c. presold
d. in a location where it can legally remain for one year
(1) 10. The Browns desperately want to move to Pine Bend, prohibited
and they like the Smith House, which is listed by broker
Bob. The Browns tell Bob they will make it worth his while
if he can persuade the Smith's to accept the Brown offer
on their house, and the Browns send an expensive food
basket to Bob as a sign of their good faith. Bob neglects
to mention this to the Smiths. This practice is
a. acceptable
b. mandated
c. discouraged
d. prohibited
(1) 11. Broker Bob routinely places earnest money deposits prohibited
in his personal account for overnight safekeeping. This
practice is
a. acceptable
b. mandated
c. discouraged
d. prohibited
(1) 12. Broker Luis has an exclusive listing agreement with prohibited
the Pierces. The listing will terminate "when the parties
agree". This practice is
a. acceptable
b. mandated
c. discouraged
d. prohibited
and Answers
9 studiers in 3 days 4.7 (17 reviews)
Students also studied
Flashcard sets Study guides
Real Estate Principles Final Exam California Real Estate Practice - Qu... California Real Estate Exam Multiple... Califor
100 terms 150 terms 510 terms 150 term
Layla_Armouchian Preview mikebaseball Preview adam_salzberg Preview opp
Terms in this set (393) Hide definitions
(1) 1. The Real Estate Law is found in the Business and Professions Code
a. Licensing Code
b. Business and Professions Code
c. Health and Safety Code
d. Corporations Code
(1) 2. The Real Estate Commissioner reports to the governor
a. California Bureau of Real Estate
b. governor
c. Real Estate Advisory Commission
d. legislature
(1) 3. Salesperson Sam owns 25% of the outstanding acceptable
shares of Rollo Realty, Inc., and broker Barbara Rollo
owns the remaining shares. This division of ownership is?
a. acceptable
b. mandated
c. discouraged
d. prohibited
,(1) 4. Salesperson Sam is part owner of Rollo Realty, Inc. prohibited
In the broker's absence, Sam frequently reviews the work
of sales associates. This is?
a. acceptable
b. mandated
c. discouraged
d. prohibited
(1) 5. A real estate business that is a partnership can have a broker partner obtains an additional license for each location
more than one office location, provided
a. a broker partner obtains an additional license for each
location
b. all partners are real estate licensees
c. there is a designated broker-officer
d. there is at least one partner at each location
(1) 6. The sale or transfer of goods ordinarily held for sale Uniform Commercial Code
in the course of business is governed in California by the?
a. Business Opportunity Code
b. Commercial Transfer Law
c. Uniform Commercial Code
d. Real Estate Law
(1) 7. Todd, an officer of Ajax Corporation and not a real should have had a real estate license
estate licensee, successfully negotiated the purchase of
the Smith Widget Plant on behalf of Ajax. Todd received a
commission on the sale in addition to his normal salary.
Todd
a. did not need a real estate license for the deal
b. should have had a real estate license
c. is exempt from licensing requirements
d. None of these
(1) 8. If a real estate license is NOT renewed before it must cease all real estate activities
expires, the licensee?
a. is allowed to complete transactions in progress
b. is allowed to finish transactions that are substantially
complete
c. must cease all real estate activities
d. may act under authority of another agent's license for a
period not to exceed 60 days
, (1) 9. A real estate licensee can offer a mobile home for in a location where it can legally remain for one year
sale that is?
a. in a manufacturing plant, ready for delivery
b. transportable under an exemption from the vehicle
code
c. presold
d. in a location where it can legally remain for one year
(1) 10. The Browns desperately want to move to Pine Bend, prohibited
and they like the Smith House, which is listed by broker
Bob. The Browns tell Bob they will make it worth his while
if he can persuade the Smith's to accept the Brown offer
on their house, and the Browns send an expensive food
basket to Bob as a sign of their good faith. Bob neglects
to mention this to the Smiths. This practice is
a. acceptable
b. mandated
c. discouraged
d. prohibited
(1) 11. Broker Bob routinely places earnest money deposits prohibited
in his personal account for overnight safekeeping. This
practice is
a. acceptable
b. mandated
c. discouraged
d. prohibited
(1) 12. Broker Luis has an exclusive listing agreement with prohibited
the Pierces. The listing will terminate "when the parties
agree". This practice is
a. acceptable
b. mandated
c. discouraged
d. prohibited
