The CE Shop » Sales License » 45-HR. CA REAL ESTATE PRACTICE COURSE » Summer 2021

Question #1

In California, a brokerage’s listing agreements, deposit receipts, canceled checks, and trust records are all ______.

A. Documents that must be submitted to the DRE

B. Records that must be held for at least three years

C. Documents that must be stored electronically

D. Records that must be provided to clients upon request

Question #2

Section 10148 of the California Business and Professions Code requires records pertaining to real estate transactions be held for ________ years.

A. Two

B. Five

C. Three

D. Four

Question #3

The _____________ requires brokers to maintain proper documentation for all transactions connected to their real estate business.

A. National Association of REALTORS®

B. Federal Bureau of Investigation

C. Internal Revenue Service

D. California Department of Real Estate

Question #4

Because of the extreme importance of proper trust fund handling and recordkeeping, the _____________ conducts routine audits of brokers.

A. California Department of Real Estate Commissioner

B. Attorney general

C. County auditor panel

D. State Supreme Court