CE Shop Real Estate Terms Exam Questions with Complete Solutions
5 views 0 purchase
Course
The CE shop real estate
Institution
The CE Shop Real Estate
CalBRE - Answer-A government entity which oversees, regulates, administers and enforces California real estate law as practiced by licensees.
CALDRE - Answer-California Department of Real Estate
Real Estate Commissioner - Answer-Chief Executive Officer of CALDRE
Real Estate Advisory Commis...
CE Shop Real Estate Terms Exam
Questions with Complete Solutions
CalBRE - Answer-A government entity which oversees, regulates, administers and
enforces California real estate law as practiced by licensees.
CALDRE - Answer-California Department of Real Estate
Real Estate Commissioner - Answer-Chief Executive Officer of CALDRE
Real Estate Advisory Commission - Answer-Ten-member group appointed by the Real
Estate Commissioner that makes recommendations to the Commissioner on matters
involving the California Bureau of Real Estate.
How many members of the advisory commission are licensed brokers? - Answer-Six
How many unlicensed consumers serve on the commission? - Answer-Four
True or False: Members are elected by the public. - Answer-False
True or False: Members are compensated for serving on the commission. - Answer-
False
True or False: Members discuss policy and make recommendations to the
Commissioner. - Answer-True
What are the ownership types for brokerages in California ? - Answer-Corporation,
Partnership, and Sole Proprietor
True or False: No matter the type of ownership, a brokerage must have at least one
licensed broker under which real estate activities are performed. - Answer-True
True or False: Broker and salesperson licenses must be stored at the main business
office. - Answer-True
True or False: Main office address changes must be submitted within one week. -
Answer-False
True or False: Additional business offices must have a branch office license. - Answer-
True
True or False: Brokers can designate any licensee to act as a branch office manager. -
Answer-False
, Bret Collects payments on loans secured by real property. In an average year, he
collects nearly 50 payments, totaling close to $80,000. Is a real estate license
required ? - Answer-Yes
Mandy is an officer in Kids-Camp, Inc. She sometimes helps K-C, Inc. purchase
property to make their own parks and playgrounds. She does not receive desperate
compensation for these real estate purchases. Is a license required ? - Answer-No
True or False: California law describes a mobile home as a structure transported in one
or more sections, built on a chassis, and consisting of no more than two dwellings. -
Answer-True
True or False: Real estate professionals must be licensed as mobile home dealers to be
involved in the sale or purchase of these units. - Answer-False
Is She Qualified?: LuAnn is an honest and truthful 21 year old. She's successfully
completed courses in Real Estate Principles, Real Estate Practice, and Real Estate
Finance. She's a legal U.S. resident, doesn't have any convictions or child support
obligations, and passed the California salesperson license exam with flying colors. Is
she qualified to obtain a real estate license? - Answer-Yes
Is He Qualified?: John is an honest and truthful 28 year old. He's successfully
completed courses on Real Estate Practice, Real Estate Finance, Real Estate
Appraisal, Legal Aspects of Real Estate, Accounting, Property Management, Escrows,
and Business Law. He's a legal U.S. resident and doesn't have any convictions or child
support obligations. Is he qualified to obtain a real estate broker license? - Answer-No
When a real estate license is issued in California, how long is that licensed valid? -
Answer-Four years
It's up to licensees to make sure they're completing their CE hours. They'll receive a
reminder about three months before their license expires , but trying to crunch in all of
the hours in this three-month period can be stressful. You can complete CE courses at
any time during the four years immediately preceding the license expiration. How many
hours of CE do licensees need to complete? - Answer-45
Licensees have some flexibility in courses they complete for CE, but there are
mandatory topics that must be taken. What are the mandatory topics ? - Answer-
Agency, Fair Housing, Risk Management, Ethics, Trust Fund Handling
What are the two requirements to be exempt from taking CE courses? - Answer-70
years old and hold a license in good standing for 30 consecutive years.
Which agency must Real Estate licensees go through to gain the MLO endorsement? -
Answer-National Mortgage Licensing System and Registry (NMLS&R)
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller lectknancy. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.49. You're not tied to anything after your purchase.
