salespersons examination is:A Five hoursB One and

Ch. 1 Flashcards The maximum time allowed an applicant to take the

salesperson's examination is:A) Five hoursB) One and

one-half hoursC) Three hours and 15 minutesD) As long as the applicant wishes to take

• Three hours and 15 minutes

If an applicant fails an examination, he or sheA) May not apply for a re-examination at anytimeB) Must wait a reasonable time after failure notice to applyC) May apply for a re-examination immediately after notification of failureD) Is limited as to the number of times that an examination may be taken.

• May apply for a re-examination immediately after

Commission rates for real estate agents are established byA) The real estate commissionerB) Local board of real estateC) Multiple listing organizationsD) Negotiations

• Negotiations

The Real Estate Commissioner's Regulations apply to:A)

REALTORS onlyB) REALISTS onlyC) Real estate brokers onlyD) All CA real estate licensees

• All CA real estate licensees

Which of the following needs a real estate license?A) A person selling their own homeB) A person managing their own rentalC) A full-service property managerD) None of the above

• A full-service property manager

The trade name REALTIST designates a member of the:A)

National Association of REALTORSB) Consolidated Brokers of AmericaC) National Association of Real Estate ProfessionalsD) National Association of Real Estate Brokers.

• National Association of Real Estate Brokers.

Once an individual has been licensed by the Bureau of Real Estate, which of the following is considered a violation f law and/or regulation and may result in suspension or revocation of the license?A) False promiseB) Commingling of fundsC) Secret profitsD) All of the above

• All of the above

Members of the National Association of Real Estate

Brokers are called:A) REALTORSB) REALISTSC) MAID)

RECI

A) REALTORS

To obtain a real estate sales license, an applicant must

pass approved college level courses in:A) Business

ethicsB) PsychologyC) Real estate principles, practice, and one other CalBRE-approved courseD) Sales skills

• Real estate principles, practice, and one other

A real estate broker's license enables a person to handle

the sale of:A) Registered mobile homesB) Business

opportunitiesC) Trust deedsD) All of these

• All of these

The California Association of REALTORS is a professional real estate organization. The major purposes of this

association include:A) Promotion of high standardsB)

Safeguarding the real estate-buying publicC) fostering of legislation for the benefit and protection of California real estateD) All of the above

• All of the above

In California, the majority of the laws that regulate the real

estate industry originate from:A) Commissioner's Code of

EthicsB) The property codeC) The Treaty of Guadalupe HidalgoD) The Business and Professions Code.

• The Business and Professions Code.

Which of the following is correct?A) There are no continuing education requirements for the salesperson's licenseB) Examination prep courses satisfy continuing education requirements for license renewalC) No transcripts, approval numbers, or certificates are required to verify course requirements for license renewalD) All of the above are incorrect

• All of the above are incorrect

The real estate commissioner has the right to issue regulations for interpretation of Real Estate LawA) These regulations must be approved by the California Association of REALTORSB) These regulations have the same force and effect as Real Estate Law.C) These regulations become part of the California Administrative Code.D) Both b and c are correct

• These regulations have the same force and effect as

Real Estate Law.A candidate for the real estate broker's examination mustA) Be 21 years or olderB) Have completed eight college-level real estate coursesC) Have at least 4 years' experience as a real estate salespersonD) Be a resident of CA

• Have completed eight college-level real estate

A statement that shows the financial position of a business

as of a certain date is called:A) A profit and loss

statementB) Schedule EC) A balance sheetD) Schedule C

• A balance sheet

Required real estate courses may be taken at which of the following institutions?A) Accredited community collegesB) Accredited California universitiesC) Some private vocational schools that have acquired formal approval from the real estate commissionerD) All of the above

• All of the above

The fine for an unlicensed person who receives an illegal

commission is:A) $100B) $1,000C) $20,000D) $50,000

C) $20,000

A passing score on the real estate broker's examination

is:A) 55%B) 60%C) 70% (book states 70%)D) 75%

D) 75%

A passing score on the real estate salesperson's examination isA) 50%B) 70%C) 75%D) 80%

B) 70%