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California Real Estate Practice Questions And Answers With Verified Solutions Already Passed !!!
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California Real Estate Practice Questions And Answers With Verified Solutions Already Passed !!!
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California Real Estate PracticeQuestions And Answers With Verified
Solutions Already Passed !!!
The real estate marketplace is a/an .......... marketplace? - ANSWER✔✔Stratified
Commissions are always negotiable...? - ANSWER✔✔True
Most new home buyers purchase using cash...? - ANSWER✔✔False
Which of the following carries workers compensation insurance...? -
ANSWER✔✔Real Estate Brokers
Broker commissions are typically stated as a...? - ANSWER✔✔Percentage of the
sales price
If the overall commission in a transaction is 6%, and the seller/buyer broker
commission split is 50/50, what would the buyer broker's commission be for the
transaction...? - ANSWER✔✔3%
The overall commission for a transaction is 6%. The commission split between the
seller's and buyer's broker is 50/50. The commission split between the seller's
broker and their real estate agent in the transaction is also 50/50. What would the
seller's broker's real estate agent's commission be for the transaction...? -
ANSWER✔✔1.5%
If a property sells for $500,000 and the seller's broker commission is 6%, how
much will the broker earn from the transaction...? - ANSWER✔✔$30,000
Which of the following should be considered when choosing a broker...? -
ANSWER✔✔Location, Commission Split, Training
According to the IRS, real estate agents are ...? - ANSWER✔✔Independent
Contractors
,Since a real estate agent operates as an independent contractor, the agent's
sponsoring broker is NOT required to withhold any income taxes...? -
ANSWER✔✔True
As a new licensee, what is the most important aspect in choosing a broker...? -
ANSWER✔✔Training
An agent's compensation for performing the duties of the agency is known as a...? -
ANSWER✔✔commission
In addition to commission splits, brokers may make money from which of the
following...? - ANSWER✔✔Desk fees
New agents typically work better in an office environment...? - ANSWER✔✔True
Real estate salespersons must have good time management skills...? -
ANSWER✔✔True
Real estate is cyclical...? - ANSWER✔✔True
Real estate licensees are required to do ..............in order to renew their license? -
ANSWER✔✔continuing education
Which of the following issues a real estate license in California...? -
ANSWER✔✔California Bureau of real estate
High performing agents may demand a higher commission split with their
sponsoring broker...? - ANSWER✔✔True
In order to use the title REALTOR, a licensee must be a member of the...? -
ANSWER✔✔National Association of realtors
New licensees are required to become members of the NAR...? -
ANSWER✔✔False
The California Bureau of Real Estate has the power to do which of the
following...? - ANSWER✔✔Issue license, suspend license, and revoke a license
,This refers to a person who acts for another but who sells final results and whose
methods of achieving those results are not subject to the control of another...? -
ANSWER✔✔Independent contractor
A real estate salesperson must work under a sponsoring broker...? -
ANSWER✔✔True
A real estate salesperson can sell which of the following real property types...? -
ANSWER✔✔Luxury homes, time shares, condominiums
In a buyer's market, there is an excess of inventory...? - ANSWER✔✔True
Any home that is not newly constructed is considered a...? - ANSWER✔✔Resale
Most home purchases are now started online...? - ANSWER✔✔True
A seller who must sell is known as a...? - ANSWER✔✔Motivated Seller
Moral principles that govern a person's or group's behavior are known as...? -
ANSWER✔✔Ethics
Ethics tends to preceed law...? - ANSWER✔✔True
Blockbusting is also known as panic selling...? - ANSWER✔✔True
Steering is commonly associated with...? - ANSWER✔✔Buyers
Which of the following is considered an illegal action under the fair housing
laws...? - ANSWER✔✔Steering, Blockbusting, and redlining
Discrimination in advertising is covered under the Civil Rights Act of 1968...? -
ANSWER✔✔True
A long-term physical or mental impairment, or condition, that substantially limits a
person's major activities is known as a/an...? - ANSWER✔✔Disability
, A federal law protecting the rights of individuals with physical or mental
impairments is known as the...? - ANSWER✔✔Americans with disabilities act
Public accommodations for handicapped individuals is required under the...? -
ANSWER✔✔Americans with disabilities act
Which of the following prohibited discrimination in housing whenever federal
funds were involved...? - ANSWER✔✔Executive order 11603
Familial status became a protected class under the...? - ANSWER✔✔1988 fair
housing act
A landlord is not allowed to charge an increased security deposit for a tenant with a
service animal...? - ANSWER✔✔true
Any licensed real estate broker or agent can call themselves a Realtor...? -
ANSWER✔✔false
In order to be considered a senior living residence, at least 80% of the units must
be occupied by persons ..........years or older? - ANSWER✔✔55
A federal legislation including the imposition of civil and punitive damages for
anti-trust activities is known as the...? - ANSWER✔✔sherman anti-trust act
Money, or other things of value, that a real estate agent receives on behalf of the
principal or any other person involved in a transaction are known as...? -
ANSWER✔✔trust funds
The illegal mixing of personal funds with money held in trust on behalf of a client
is known as...? - ANSWER✔✔commingling
This federal law requires the disclosure to borrowers of settlement (closing)
procedures and costs by means of a pamphlet and forms prescribed by the United
States Department of Housing and Urban Development (HUD)...? -
ANSWER✔✔RESPA
The Sherman Anti-Trust Act prohibits which of the following...? -
ANSWER✔✔Price Fixing, Market allocation, Group Boycotting
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