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Chapter 1 Quiz

2019.04.11 16:20 Views : 186

1 of 10 - Broker Alice has hired several independent contractors in her firm. Which of the these activities does she have control over?
What the licensees wear.
 
What percent of commission the licensees can charge.
How much time the licensees must spend in the office.
Whether or not the licensees attend staff meetings.
You answered correctly
2 of 10 - A shopping center would be primarily categorized as what type of property?
Residential
Agricultural
Investment
 
Commercial
You answered correctly
3 of 10 - Which of the following circumstances would concern you about working for Broker John?
John offers weekly training seminars.
There are several successful agents at John's office.
John's office has a selection of books, CDs and tapes for agent use.
 
John expects his agents to spend 5 hours a week on unsupervised telephone duty.
You answered correctly
4 of 10 - Alice has decided that she will specialize in selling farm land. Which area of specialization would she fall into?
Geography
 
Type of property
Business type
Type of client
You answered correctly
5 of 10 - Which of the following statements is not true?
A broker may require licensees to carry high levels of automobile insurance.
 
It's a good idea for brokers to carry workers' compensation coverage.
 
A broker is not responsible for the acts of independent contractors.
Employee status versus independent contractor status is an IRS issue.
You answered incorrectly
California Code requires that brokers supervise all their salespeople regardless of their income tax classification. Even though a salesperson may be an independent contractor, the broker is still responsible for the licensee's professional actions.
6 of 10 - Which of the following would be an example of a licensee specializing in business type?
 
Jim specializes in clients who want to buy restaurants.
Alice knows everything about the exclusive east side neighborhoods.
Tom specializes in options.
Chris is a buyer's agent.
You answered correctly
7 of 10 - Which of these statements is true?
Salesperson Harry can solicit his own listings.
Salesperson Julie can receive her commission from the cooperating broker in her latest transaction.
 
Salespersons must perform all of their activities on behalf of their employing broker.
Broker Tom has only limited responsibility for the actions of his licensees.
You answered correctly
8 of 10 - Which of the following is NOT a condition of the safe harbor test?
Person must be properly licensed.
Gross income must be based on production.
Clearly written contractor agreement must exist.
 
Gross income must be based on hours worked.
You answered correctly
9 of 10 - All of the following are true statements about goals except which one?
Goals should be measurable.
It's easier to prioritize your tasks if your goals are in writing.
 
Once you set a goal you should never change it.
Goals must be realistic if you hope to accomplish them.
You answered correctly
10 of 10 - Which of the following is not a national real estate trade organization?
NAR
 
CAR
NAREB
AREAA
You answered correctly

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