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.   Owner of the property
B.   Buying real estate for others
C.   Selling 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.   California Real Estate Law.
B.   Real Estate Recovery Law.
C.   Real Estate General Fund.
D.   Commissioner’s Regulations.
Question #3
Who has the power to revoke, restrict, or suspend a real estate license?
A.   NAR
B.   California Legislature
C.   CAR
D.   Real Estate Commissioner
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.   100 days
D.   200 days
Question #5
The real estate trade association whose members are known as Realtists is the:
A.   Local Board of REALTORS ®.
B.   California Association of REALTORS ®.
C.   National Association of Real Estate Brokers.
D.   National Association of REALTORS®.
Question #6
Any licensee working in the real estate field must be a member of which group?
A.   No affiliation is necessary
B.   NAREB
C.   CAR
D.   NAR
Question #7
The group, through its leader, that regulates real estate transactions is called the:
A.   Federal Government.
B.   CAR.
C.   NAR.
D.   California Bureau of Real Estate.
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.   45 hours
B.   40 hours
C.   60 hours
D.   30 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.   classified advertisement.
B.   paid advertisement.
C.   pocket advertisement.
D.   blind advertisement.
Question #10
A sale of a business (business opportunity) by a real estate agent can include which of the following?
A.   Real estate
B.   Goodwill
C.   Personal property, Real estate and Goodwill
D.   Personal property
Question #11
The completion of what college-level course is required to qualify for a real estate salesperson examination?
A.   One other acceptable course
B.   Real Estate Practice
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 master’s degree.
B.   a perfect credit rating.
C.   a perfect credit rating and a master’s degree
D.   a broker’s license.
Question #13
In a sale of an existing business (Business Opportunity) the real property is transferred:
A.   none of the answers are correct.
B.   by deed.
C.   by bill of sale.
D.   through the Real Estate Commissioner’s office.
Question #14
According to the Business and Professions Code 10176, which of the following is NOT grounds for license revocation or suspension?
A.   Misrepresentation
B.   Commingling
C.   False promises
D.   No commissions earned for a year
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.   3-hour exam period
D.   50% correct score to pass
Question #16
Which of the following is FALSE concerning real estate licenses?
A.   All licensees must complete 45 hours of CE courses every 4 years.
B.   Salespersons’ licenses are renewable.
C.   Brokers’ licenses are renewable.
D.   Real estate licenses are valid for the life of the licensee.
Question #17
A “REALTOR” is a member of which trade association(s)?
A.   Local Board of REALTORS ®
B.   California Association of REALTORS ®
C.   Any of the answers are correct
D.   National Association of REALTORS ®
Question #18
Which of the following is FALSE concerning the broker’s exam?
A.   Five hours to complete
B.   75% correct answers to pass
C.   $500 fee
D.   200 questions

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