Quiz 14

20. Which of the following is FALSE concerning the broker's exam? a. 200 questions b. Five hours to complete c. $500 fee d. 75% correct answers to pass

$500 fee

17. Which of the following is TRUE concerning the salesperson's exam? a. 150 multiple choice question test b. 50% correct score to pass c. 3-hour exam period d. all of the above

150 multiple choice question test

10. The total liability of the recovery fund in any one transaction is: a. $20,000 b. $25,000 c. $30,000 d. $50,000

20,000

8. How many hours of Commissioner-approved continuing education must a salesperson or broker have in order to renew his or her four-year license? a. 30 hours b. 40 hours c. 45 hours d. 60 hours

45 hours

19. The portion of the Business and Professions Code that refers to licensing and subdivisions is called: a. Real Estate Recovery Law. b. Real Estate General Fund. c. Commissioner's Regulations. d. California Real Estate Law.

California Real Estate law

6. The real estate trade association whose members are known as Realtists is the: a. National Association of REALTORS®. b. Local Board of REALTORS ®. c. California Association of REALTORS ®. d. National Association of Real Estate Brokers.

National Association of Real estate Brokers

13. Any individual who wants to operate a real estate office must have: a. a perfect credit rating. b. a master's degree. c. a broker's license. d. all of the above.

a broker's license

15. What license is NOT issued by the Department of Real Estate? a. Broker's license b. Prepaid rental listing service license c. Alcoholic Beverage license d. All of the above

alcoholic beverage license

18. A "REALTOR" is a member of which trade association(s)? a. Local Board of REALTORS ® b. California Association of REALTORS ® c. National Association of REALTORS ® d. Any of the above

any of the above

5. A false advertisement (Section 10177 of the Business and Professions Code) that gives the impression that the agent is the owner of the property is called a: a. blind advertisement. b. pocket advertisement. c. classified advertisement. d. paid advertisement.

blind advertisement

16. In a sale of an existing business (Business Opportunity) the real property is transferred: a. by deed. b. by bill of sale. c. through the Real Estate Commissioner's office. d. none of the above.

by deed

2. The group, through its leader, that regulates real estate transactions is called the: a. Department of Real Estate. b. NAR. c. CAR. d. Federal Government.

department of real estate

11. Who appoints the Real Estate Commissioner? a. President b. Governor c. State Senate d. State Assembly

governor

7. Any licensee working in the real estate field must be a member of which group? a. NAR b. CAR c. NAREB d. No affiliation is necessary

no affiliation is necessary

14. According to the Business and Professions Code 10176, which of the following is NOT grounds for license revocation or suspension? a. Misrepresentation b. False promises c. No commissions earned for a year d. Commingling

no commissions earned for a year

4. An unethical real estate office policy that keeps a listing "in house" for a period of time, in order to try to sell it first, is called a: a. blind listing. b. pocket listing. c. classified listing. d. paid listing.

pocket listing

3. Who has the power to revoke, restrict, or suspend a real estate license? a. California Legislature b. NAR c. CAR d. Real Estate Commissioner

real estate commissioner

12. Which of the following is FALSE concerning real estate licenses? a. Brokers' licenses are renewable. b. Salespersons' licenses are renewable. c. All licensees must complete 45 hours of CE courses every four years. d. Real estate licenses are valid for the life of the licensee.

real estate licenses are valid for the life of the licensee

9. A sale of a business (business opportunity) by a real estate agent can include which of the following? a. Real estate b. Personal property c. Goodwill d. All of the above

real estate, personal property, goodwill

1. Which of the following does NOT require a real estate license? a. Selling real estate for others b. Buying real estate for others c. Negotiating leases for others d. Selling your own real estate

selling your own real estate