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24 Cards in this Set
- Front
- Back
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Members of the National Association of Real Estate Brokers are called. A. REALTORS B. REALISTS C. MAI D. RECI |
A. REALTORS |
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A real estate broker's license enables a person to handle the sale of: A. registered mobile homes B. business opportunities C. trust deeds D. all of these |
D. All of these |
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A statement that shows financial position of a business as of a certain date is called: A. a profit and loss statement B. schedule E C. a balance sheet D. schedule C |
C. a balance sheet |
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A candidate for the real estate broker's exam must : A. Be 21 years or older B. Have completed 8 college level real estate courses C. Have at least 4 years experience as a real estate sales person D. Be a resident of CA
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B. Have completed 8 college level real estate courses |
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Commission rates for real estate agents are established by: A. The real estate commissioner B. Local boards of Real Estate C. Multiple listing organizations D. Negotiations |
D. Negotiations |
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A passing score on the real estate salesperson's exam is: A. 50% B. 70% C. 75% D. 80% |
B. 70 |
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The real estate commissioners regulations apply to: A. REALTORS only B. REALISTS only C. Real estate broker's only D. All CA real Estate licensees |
D. All CA real Estate licensees |
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The fine for an unlicensed person who receives an illegal commission is: A. $100 B. $1,000 C. $20,000 D. $50,000 |
C. $20,000 |
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In CA, the majority of the laws that regulate the real estate industry originate from: A. Commissioners code of ethics B. The property code C. The Treaty of Guadalupe Hidalgo D. The business and professionals code |
D. The business and professionals code |
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The trade name REALISTS designates a member of the: A. National Association of REALTORS B. consolidated broker's of America C. National Association of Real estate professionals D. National Association of Real estate brokers |
C. National Association of Real Estate Professionals |
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The real estate commissioner has the right to issue regulations for the interpretation of Real estate law. A. The regulations must be approved by the CA Association of REALTORS B. These regulations have the same force and effect as Real Estate Law C. These regulations become part of the CA Administration Code D. Both B and C are correct |
B. These regulations have the same force and effect as Real Estate Law |
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To obtain a real estate sales license, an applicant must pass approved college courses in: A. Business ethics B. Psychology C. Real estate principals, practice, and one other CalBRE-approved course D. Sales skills |
C. Real estate principals, practice, and one other CalBRE-approved course |
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The CA Association or REALTORS is a professional real Estate organization. The major purposes of this association include: A. Promotion of high standardshipping among members B. Safeguarding the real estate-buying public C. Fostering of legislation for the benefit and protection of CA real Estate. D. All of the above |
D. All of the above |
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The maximum time allowed an applicant to take the salesperson's exam is: A. 5 hours B. 1 1/2 hours C. 3 hrs. 15 min. D. As long as needed |
C. 3 hrs. 15 min. |
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If an applicant fails an exam, he or she: A. May not apply for re-examination B. Must wait a reasonable time after failure notice to apply C. May apply for re-examination immediately after notification of failure D. Is limited as to the number of times that an exam may be taken |
C. May apply for re-examination immediately after notification of failure |
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Which of the following is correct? A. There are no continuing education requirements for the salesperson's license B. Exam preparation courses satisfy continuing education requirements for license renewal C. No transcripts, approval numbers, or certificates are required to verify course requirements for license renewal D. All of the above are incorrect |
D. All of the above are incorrect |
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Required real Estate courses may be taken at which of the following institutions? A. Accredited community colleges B. Accredited CA universities C. Some private vocational schools that have acquired formal approval from the real estate commissioner D. All of the above |
D. All of the above |
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Once an individual has been licensed by the bureau of Real estate, which of the following is considered a violation of law and/or regulation and may result in suspension or revocation of the license? A. False promise B. Commingling of funds C. Secret profits D. All of the above |
D. All of the above |
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Which of the following needs a real estate license? A. A person selling their own home B. A person managing their own rental C. A full-service property manager D. None of the above |
C. A full-service property manager |
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A passing score on the real estate broker's exam is: A. 55% B. 60% C. 70% D. 75% |
C. 70% |
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Business opportunity |
The sale or lease of a business, including stock, trade fixtures, trade name & goodwill. This Includes the sale of personal property. |
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California Association of Realtors (CAR) |
Staff affiliated group that provides services for California members. |
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Realtor |
A real estate broker holding active membership in a real estate board affiliated with the National Association of REALTORS |
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Realist |
A real estate broker holding active membership in a real estate board affiliated with the National Association of Real Estate Brokers. |
