Unit 1 Quiz

Under the Real Estate Law, a real estate salesperson works for a broker as an: (a)independent contractor. (b)employee. (c)agent. (d)associate broker.

(b)employee.

California's Real Estate Law is found in the: (a)Civil Code. (b)Financial Code. (c)Government Code. (d)Business and Professions Code.

(d)Business and Professions Code.

The Real Estate Law allows a business opportunity to be sold: (a)by a real estate licensee. (b)by the financial planner. (c)by a PRLS licensee. (d)with a special endorsement.

(a)by a real estate licensee.

A real estate salesperson is supervised by: (a)the employing broker only. (b)any licensed broker. (c)the seller. (d)the buyer or seller.

(a)the employing broker only.

The applicant for a real estate salesperson's license must complete how many college-level courses before taking the licensing examination? (a)One (b)Three (c)Five (d)Seven

(b)Three

When a real estate license expires, licensed activity must cease but the license may be renewed up to: (a)one year later. (b)two years later. (c)three years later. (d)four years later.

(b)two years later.

Every real estate broker must be licensed by the Department of: (a)Corporations. (b)State. (c)Real Estate. (d)Housing.

(c)Real Estate.

Which of the following does NOT require a real estate license? (a)Negotiating a lease (b)Presenting an offer (c)Selling your own property (d)Taking a listing

(c)Selling your own property

A real estate broker's license may be obtained by any of the following except a: (a)sole proprietorship. (b)corporation. (c)limited liability company. (d)partnership .

(c)limited liability company.

Real Estate licenses are renewable for a period of: (a)one year. (b)two years. (c)three years. (d)four years.

(d)four years.