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27 Cards in this Set
- Front
- Back
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A property owner suffers a loss because of the fradulent misrepresentation of a broker. The owner is advised to first: |
Sue the broker for damages. |
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Which of the following is an example of a trust fund violation? |
Holding a check uncashed at your own discretion. |
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The Real Estate law is part of: |
The Business and Professions Code |
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Commingling is the opposite of: |
Seperation |
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A property owner tells the broker that the house is connected to the sewer. The broker relays this information to the buyer, who later finds that the house has a septic system in need of repair. The buyer would Sue: |
The broker and the owner. |
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A salesperson representing a buyer, in selling properties listed with another broker, is directly responsible to: |
The selling broker |
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A valid agency requires a(n): |
A valid agency can be triggered by the actions of the principal or agent |
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A listing broker may not be: |
The sole agent of the buyer |
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An agency relationship would not be created by: |
Subrogation |
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A broker may: |
Accept commission from both buyer and seller Sell their own property to a customer Act as an escrow |
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Which will not terminate an agencys relationship? |
Estoppel |
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What is not essential to the creation of an agency relationship? |
Agreement to pay consideration |
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Agency relationships may not be created by: |
Voluntary offer by the agent |
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A real estate agent may represent principals in a transaction if: |
The dual agency status needs to be disclosed as soon as possible and all parties must consent. |
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The real estate disclosure law 2hich became effective on January 1, 1988 refers to: |
Agency relationships |
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A buyer's agent prepared a purchase offer on a home for their buyer. When should the agent give the buyer the Agency law Disclosure form? |
As soon as practicable |
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A real estate broker acts from a position of trust for the seller or buyer. This is described legally as a: |
Fiduciary relationship |
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Before the broker may solicit for an advanced fee, the advance fee paperwork must be submitted to the____for approval at least 10 days prior to use. |
DRE |
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A real estate broker is guilty of conversion if they: |
Used trust funds for their personal use. |
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A real estate broker sends all of their title business to Wonderful title Co. In appreciation of the business,the title company pays the broker $10 each transaction. According to the (RESPA) this practice is: |
Forbidden |
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___are practices which are not openly discriminatory, but result in discriminatory effects. |
Implicit discrimination |
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Which of the following is an attorney in fact? |
A legally competent person who has been given power of attorney to act on behalf of another. |
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A person who is not among the protected groups under the Americans with disabilities act and can therefore be refused a rental is a: |
Drug addict |
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A real estate salespersons license has been suspended because money was paid out of the recovery account. Their license will not be reinstated: |
Until they repay the recovery account for all money paid plus interest. |
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When a broker deposits their own personal or business funds in a client trust fund account, that act is referred to as: |
Commingling |
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The real estate commissioner is authorized to: |
Promulgate rules and regulations to enforce the California real estate laws. |
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If a real estate broker fires a salesperson for an illegal act, the broker should inform Real Estate commissioner of the firing: |
Immediately in writing. It is unconditionally required |
