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(Part 2) 75 California Most Common Real Estate Exam Questions (2024) Questions And Answers With Verified Solutions 100% Correct!!! $14.49   Add to cart
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(Part 2) 75 California Most Common Real Estate Exam Questions (2024) Questions And Answers With Verified Solutions 100% Correct!!!
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  • California Real Estate

(Part 2) 75 California Most Common Real Estate Exam Questions (2024) Questions And Answers With Verified Solutions 100% Correct!!!

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  • October 9, 2024
  • 16
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • a real estate sales
  • part 2 75 california most common real estate exa
  • real estate law is contained in the
  • under article 3 10175d of the california real es
  • which of the following constitutes commingling

Written for

  • California real Estate
  • California real Estate

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(Part 2) 75 California Most Common Real
Estate Exam Questions (2024) Questions And
Answers With Verified Solutions 100%
Correct!!!
Real Estate Law is contained in the: - ANSWER✔✔Bus/Professions Code

Under Article 3, 10175d, of the California Real Estate Law, a broker could not be
disciplined for which of the following: - ANSWER✔✔Acting for more than one
party in a transaction with the knowledge and consent of all parties thereto.

A real estate licensee may be held responsible to the Real Estate Commissioner for
all of the following EXCEPT: - ANSWER✔✔Failure to disclosure to the buyer
that the seller must sell because of financial instability.

Which of the following constitutes commingling: - ANSWER✔✔Mixing personal
funds with clients funds

A real estate salesman canvasses an area to secure listing. He tells the prospective
seller that minority groups are moving into the area and it would be advantageous
to sell at this time. He would: - ANSWER✔✔Be disciplined by the Real Estate
Commissioner for canvassing in this manner.

Regulation 2905 which pertains to any infestation of wood-destroying organisms
in any improvement or premises is taken from: - ANSWER✔✔Rules and
Regulations of the Commissioner

A person who is required to have a Real Estate License: - ANSWER✔✔One who
sells or offers to sell real estate for compensation.

A real estate broker's license is required to: - ANSWER✔✔Take open listing;
Employ salesmen to sell subdivisions; collect rent for compensation

Of the following, who would need a Real Estate License - ANSWER✔✔An
attorney PERFORMING real estate services as a broker.

,In addition to the Real Estate Commissioner, the number of members of the Real
Estate Advisory Commission is: - ANSWER✔✔Ten

The compensation paid to a broker is generally: - ANSWER✔✔A percentage of
the selling price

A real estate license has the fiduciary duty to NOT do the following: -
ANSWER✔✔1. Modify or cancel the contract of sale after it has been made; 2. To
act in agent's name even if the agent cannot be reached to authorize the decision; 3.
Giving advice with respect to legal matters.

When a broker deposits funds into his trust account, he is required to keep a record
of all funds collected by clients. This record must contain: - ANSWER✔✔1. Date
funds received; 2. Check number and date of deposit; 3. Daily balance of trust
account

A licensed real estate broker shall maintain a record of moneys collected. If money
is placed into a trust account, records must be retained for a period of: -
ANSWER✔✔Three Years

If the offer to purchase was not prepared by the seller's agent, the buyer must
receive the disclosure statement: - ANSWER✔✔Not later than the next business
day after the selling agent receives the offer to purchase.

Ratification - ANSWER✔✔The adoption or approval of an act performed on
behalf of a person without previous authorization after the acts have been
performed.

To avoid liability in the visual inspection of property, the agent must use the legal
standard of care, best described as: - ANSWER✔✔One that a reasonably prudent
real estate licensee would exercise based upon his stand of knowledge, degree of
education and experience.

The agent is required to disclose to the prospective buyer: - ANSWER✔✔All facts
that a visual inspection reveals which would materially affect the property's value
and desirability.

, A power of attorney is the document used by principal to authorize an agent to: -
ANSWER✔✔1. Sell, exchange, convey, quit-claim, release, surrender, mortgage,
encumber, lease or otherwise dispose of real property. 2. Change the form of title
of any interest in Real Property.

At times a seller would be exempt from providing a real estate disclosure
statement. Which of the following would be exempt pursuant to the new disclosure
laws? - ANSWER✔✔Transactions resulting from a Probate sale.

Which of the following is not a basic form of company formation found in the real
estate business? - ANSWER✔✔Co-ops

The advantage of an individual proprietorship: - ANSWER✔✔Business decisions
can be quickly made

Disadvantages to the partnership type of ownership include: -
ANSWER✔✔Personal assets of each are subject to interest of creditors

Among the major advantages of the corporation type of office ownership are: -
ANSWER✔✔Tax advantage

An increasing number of franchises are being sold today. When talking about the
franchiser, we are referring to: - ANSWER✔✔The parent company

"Prospecting" as applied to the real estate business can be interpreted as: -
ANSWER✔✔Open houses

Parts of an ad may be thought of as the heading, body, and the closing. Which of
these parts is considered the most important? - ANSWER✔✔Heading

The selling function in real estate is divided into phases. Which of the following
represent these phases? - ANSWER✔✔Closing transaction by bringing seller and
buyer together.

Which of the following is a common reason for the purchase of real estate? (Use
the text as the authority); - ANSWER✔✔Occupancy

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