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. Records that must be provided to clients upon request

B. Documents that must be submitted to the DRE

C. Documents that must be stored electronically

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

Question #2

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

A. Five

B. Three

C. Two

D. Four

Question #3

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

A. Internal Revenue Service

B. Federal Bureau of Investigation

C. National Association of REALTORS®

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. State Supreme Court

B. Attorney general

C. California Department of Real Estate Commissioner

D. County auditor panel