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.   Require licensees to keep a tracking journal of all activities as proof that they've not violated federal regulations.
B.   Rely on licensees to make themselves aware of all federal regulations related to real estate.
C.   Include a review of related federal legislation in the policies and procedures manual and provide appropriate training.
D.   Encourage licensees to obtain outside training on real estate-related federal regulations.
Question #2
How old must an individual be to qualify for a real estate salesperson license in California?
A.   20
B.   18
C.   21
D.   19
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.   45 hours
B.   10 hours
C.   Eight hours
D.   20 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.   Two years
B.   Four years
C.   Three years
D.   One year
Question #5
Jackson holds a real estate broker license with an MLO endorsement. How often must he renew his MLO endorsement?
A.   Every two years
B.   Every three years
C.   Every four years
D.   Every year
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.   As long as Steve holds an active license in a neighboring state, he can practice real estate in California.
C.   California has a reciprocity agreement with Oregon. Steve can complete a California application to receive a license.
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.   Prohibiting licensees from recommending third party vendors to clients
B.   Purchasing a general liability insurance policy
C.   Equipping your office with fire alarms and sprinklers
D.   Providing training and policies/procedures documentation to staff
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.   0 hours
B.   30 hours
C.   8 hours
D.   45 hours

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