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Quiz 15

2019.05.17 22:50 Views : 9541

1 of 25 - What is the main purpose of the DRE?
To collect license and exam fees
 
To protect the public
To protect licensees
To protect brokers
You answered correctly
2 of 25 - Within how long of an alleged violation does a person have to file a complaint with the Commissioner regarding the actions of a real estate licensee in California?
1 year
 
3 years
6 months
18 months
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3 of 25 - What describes the right of the state to enact and enforce laws for the order, safety, health, morals, and general welfare of the public?
Law of the land
Eminent domain
 
Police power
Right of rescission
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4 of 25 - What is an account that holds all the money collected from license and exam fees and is used for the operating expense of the CalDRE?
 
The Real Estate General Fund
The Real Estate License Fund
The Real Estate Escrow Fund
The Real Estate Exam Fund
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5 of 25 - How old must a candidate be in order to obtain a real estate license?
21
 
18
16
23
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6 of 25 - What is an account established as a last resort for a consumer who has obtained a final civil judgment or criminal restitution order against a real estate licensee based on fraud or certain other grounds?
The Real Estate Education Fund
The Real Estate Research Fund
 
The Recovery Fund
The Real Estate Restitution Fund
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7 of 25 - Which one of these parties do not need to be licensed as real estate sales persons or brokers?
A buyer's agent
A person who solicits real estate listings
 
A short term vacation rental agent
A seller's agent
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8 of 25 - If the Commissioner revokes a license, the person affected may not apply for reinstatement of the license until
2 years has passed.
6 months has passed.
 
1 year has passed.
3 months has passed.
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9 of 25 - If an unlicensed person does act as a real estate salesperson or broker, he or she will be
 
guilty of fraud.
 
penalized under the law.
required to compensate the injured party.
fined $1,000.
You answered incorrectly
If an unlicensed person does act as a real estate salesperson or broker, he or she will be penalized under the law.
10 of 25 - What describes money or other things of value that are received by the broker on the part of another person?
Endowment
Investment capital
Escrow
 
Trust funds
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11 of 25 - What is a tax on the retail sale of tangible personal property in California called?
The California Public Use Tax
An assessment
 
The California Sales and Use Tax
Real Property Tax
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12 of 25 - What is the continuing education requirement to renew a real estate license in California?
12 hours every 2 years
15 hours every year
 
45 hours every 4 years
60 hours every 4 years
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13 of 25 - California law has held that a post-dated check may be considered the equivalent of a
certificate of deposit.
cash deposit.
 
promissory note.
cashier's check.
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14 of 25 - What do we call the practice of mixing a client's money with the agent's personal funds?
Conversion
Disengagement
Dispersement
 
Commingling
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15 of 25 - Who enforces the collection of sales and use taxes in California?
The California Board of Realtors
 
The California State Board of Equalization
 
The California Bureau of Real Estate
The California Real Estate Commission
You answered incorrectly
The California State Board of Equalization enforces the collection of sales and use taxes.
16 of 25 - The maximum liability of the Recovery Account in any one transaction is how much?
$40,000.00
$10,000.00
$15,000.00
 
$50,000.00
You answered correctly
17 of 25 - What is described as the written instrument that passes the title to the personal property?
A title receipt
 
A bill of sale
A balance sheet
A transaction record
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18 of 25 - What type of licensing does a person need who is acting on his or her own behalf with respect to his or her own property?
A real estate license
A broker license
An independent contractor license
 
No license required
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19 of 25 - All California real estate licenses are issued for a period of
2 years.
6 years.
8 years.
 
4 years.
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20 of 25 - What gives a person the chance to channel his or her private savings into real estate investments for which other financing cannot be obtained or is not available because of the large amount of money involved?
A Money Market Account
Private investment
Economic reinvestment
 
Real estate syndication
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21 of 25 - A candidate for an original real estate salesperson license must qualify for and pass a written examination with a score of
60% or greater.
65% or greater.
 
70% or greater.
50% or greater.
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22 of 25 - A licensee who is 70 years old or older is exempt from the continuing education requirements if that person has been a licensee in good standing in California for at least
25 years.
 
30 years.
15 years.
20 years.
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23 of 25 - What does DRE stand for?
California Buyer Representation
California Board of Realtors
California Business Enterprises
 
California Department of Real Estate
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24 of 25 - The rules of the Bulk Sales Act apply when a business is sold that involves
creditors.
appurtenances.
assets.
 
inventory.
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25 of 25 - A broker who receives a buyer's money deposit, that is not in the form of a check, must deposit it in the appropriate account within how many days following receipt of the funds?
10 business days
 
3 business days
7 business days
5 business days
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Update Delete List
No. Subject Date Views
370 discriminate 2019.05.22 1148
369 culmination 2019.05.22 1154
368 Exclusive agency vs Exclusive right to sell 2019.05.22 1164
367 ground floor handicapped accessible 2019.05.22 1342
366 violation of the Federal Fair Housing Act 2019.05.22 1185
365 Valuable consideration 2019.05.22 1097
364 quiet title 2019.05.22 1104
363 Subrogation 2019.05.22 1144
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360 Real Estate Law 107 2019.05.17 1172
359 Real Estate Law 106 2019.05.17 1007
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353 Chapter 14 Conclusion 2019.05.16 991
352 Real Estate Law 101 2019.05.16 963
351 Real Estate Law 100 2019.05.16 1156
350 Real Estate Law 99 2019.05.16 982
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