Real Estate 101 - Real Estate Principles » Fall 2021 » Chapter 15 Quiz

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Question #1
Which of the following does NOT require a real estate license for the sale of real property?
A.   Selling real estate for others
B.   Owner of the property
C.   Buying real estate for others
D.   Negotiating leases for others
Question #2
The portion of the Business and Professions Code that refers to licensing and subdivisions is called:
A.   Real Estate General Fund.
B.   Real Estate Recovery Law.
C.   California Real Estate Law.
D.   Commissioner’s Regulations.
Question #3
Who has the power to revoke, restrict, or suspend a real estate license?
A.   CAR
B.   Real Estate Commissioner
C.   NAR
D.   California Legislature
Question #4
What is the maximum length of a real estate license issue of renewal for an applicant on a list of persons who have not complied with a court order to provide child support payments?
A.   150 days
B.   175 days
C.   200 days
D.   100 days
Question #5
The real estate trade association whose members are known as Realtists is the:
A.   National Association of Real Estate Brokers.
B.   Local Board of REALTORS ®.
C.   California Association of REALTORS ®.
D.   National Association of REALTORS®.
Question #6
Any licensee working in the real estate field must be a member of which group?
A.   CAR
B.   NAR
C.   NAREB
D.   No affiliation is necessary
Question #7
The group, through its leader, that regulates real estate transactions is called the:
A.   NAR.
B.   California Bureau of Real Estate.
C.   CAR.
D.   Federal Government.
Question #8
How many hours of Commissioner-approved continuing education must a salesperson or broker have in order to renew his or her four-year license?
A.   30 hours
B.   40 hours
C.   60 hours
D.   45 hours
Question #9
A false advertisement (Section 10177 of the Business and Professions Code) that gives the impression that the agent is the owner of the property is called a:
A.   pocket advertisement.
B.   classified advertisement.
C.   blind advertisement.
D.   paid advertisement.
Question #10
A sale of a business (business opportunity) by a real estate agent can include which of the following?
A.   Personal property
B.   Personal property, Real estate and Goodwill
C.   Goodwill
D.   Real estate
Question #11
The completion of what college-level course is required to qualify for a real estate salesperson examination?
A.   Real Estate Practice
B.   One other acceptable course
C.   Real Estate Princples
D.   Real Estate Princples, Real Estate Practice and One other acceptable course
Question #12
Any individual who wants to operate a real estate office must have:
A.   a perfect credit rating and a master’s degree
B.   a broker’s license.
C.   a perfect credit rating.
D.   a master’s degree.
Question #13
In a sale of an existing business (Business Opportunity) the real property is transferred:
A.   by deed.
B.   through the Real Estate Commissioner’s office.
C.   by bill of sale.
D.   none of the answers are correct.
Question #14
According to the Business and Professions Code 10176, which of the following is NOT grounds for license revocation or suspension?
A.   Commingling
B.   False promises
C.   No commissions earned for a year
D.   Misrepresentation
Question #15
Which of the following is TRUE concerning the salesperson’s exam?
A.   150 multiple choice question test
B.   3-hour exam period and 50% correct score to pass
C.   50% correct score to pass
D.   3-hour exam period
Question #16
Which of the following is FALSE concerning real estate licenses?
A.   Brokers’ licenses are renewable.
B.   Salespersons’ licenses are renewable.
C.   Real estate licenses are valid for the life of the licensee.
D.   All licensees must complete 45 hours of CE courses every 4 years.
Question #17
A “REALTOR” is a member of which trade association(s)?
A.   National Association of REALTORS ®
B.   Any of the answers are correct
C.   California Association of REALTORS ®
D.   Local Board of REALTORS ®
Question #18
Which of the following is FALSE concerning the broker’s exam?
A.   $500 fee
B.   Five hours to complete
C.   75% correct answers to pass
D.   200 questions

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