Real Estate Principles Edition 10, Chapter 1 Quiz

California's Real Estate Law is found in the

Business and Professions Code.

Every real estate broker must be licensed by the Bureau of

Real Estate.

Which of the following does NOT require a real estate license?

Selling your own property

The applicant for a real estate salesperson's license must complete how many college-level courses before taking the licensing examination?

Three

The Real Estate Law allows a business opportunity to be sold

by a real estate licensee.

Under the Real Estate Law, a real estate salesperson works for a broker as an

employee.

Real estate licenses are renewable for a period of

four years.

A real estate broker's license may be obtained by any of the following except a

limited liability company.

A real estate salesperson is supervised by

the employing broker only.

When a real estate license expires, licensed activity must cease but the license may be renewed up to

two years later.