CA Real Estate Principles Course » 2021 » Section 2 Unit 3 Exam

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Question #1
To best prevent risk associated with licensee non-compliance with real estate-related federal regulations, brokerage firms should do which of the following?
A.   Include a review of related federal legislation in the policies and procedures manual and provide appropriate training.
B.   Require licensees to keep a tracking journal of all activities as proof that they've not violated federal regulations.
C.   Encourage licensees to obtain outside training on real estate-related federal regulations.
D.   Rely on licensees to make themselves aware of all federal regulations related to real estate.
Question #2
How old must an individual be to qualify for a real estate salesperson license in California?
A.   20
B.   19
C.   21
D.   18
Question #3
Jackson holds a real estate broker license with an MLO endorsement. How many hours of continuing education must he complete each year to renew this endorsement?
A.   Eight hours
B.   20 hours
C.   10 hours
D.   45 hours
Question #4
What is the minimum amount of full-time real estate industry experience that an individual must have to qualify for a broker’s license?
A.   Three years
B.   One year
C.   Four years
D.   Two years
Question #5
Jackson holds a real estate broker license with an MLO endorsement. How often must he renew his MLO endorsement?
A.   Every three years
B.   Every year
C.   Every two years
D.   Every four years
Question #6
Steve holds a real estate license in Oregon but would also like to perform real estate activities in California. What must he do?
A.   Steven cannot hold licenses and perform real estate activities in multiple states.
B.   California has a reciprocity agreement with Oregon. Steve can complete a California application to receive a license.
C.   As long as Steve holds an active license in a neighboring state, he can practice real estate in California.
D.   California does not have reciprocity agreements with any other states. Individuals licensed in other states must complete all of the requirements that an unlicensed individual completes.
Question #7
As a managing broker, you’re responsible for your associate brokers’ actions. Which of the following risk management techniques helps prevent the risk associated with vicarious liability?
A.   Providing training and policies/procedures documentation to staff
B.   Purchasing a general liability insurance policy
C.   Prohibiting licensees from recommending third party vendors to clients
D.   Equipping your office with fire alarms and sprinklers
Question #8
Al is 70 years old and has held his real estate broker license in good standing for 30 consecutive years. His license is up for renewal soon. How many continuing education hours must he complete?
A.   30 hours
B.   45 hours
C.   0 hours
D.   8 hours

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