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California Real Estate Exam Study Guide Solutions
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California Real Estate Exam Study Guide Solutions Purpose of CalBRE - ANSWER-The California Bureau of Real Estate (CalBRE) protects the public through the enforcement of laws and requirements for salespersons' and brokers' real estate licenses. The California Real Estate Commissioner - ANSWER-T...

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  • November 10, 2024
  • 17
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • california real estate exam study guide solutions

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Copyright © OLIVIAWEST 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED




California Real Estate Exam Study Guide

Solutions


Purpose of CalBRE - ANSWER✔✔-The California Bureau of Real Estate (CalBRE) protects the public

through the enforcement of laws and requirements for salespersons' and brokers' real estate licenses.


The California Real Estate Commissioner - ANSWER✔✔-The California Real Estate Commissioner has the

authority to investigate the actions of any person engaged in the business of a licensee in California, and

has the power to deny, suspend or revoke the real estate license.


Original Real Estate Salesperson License Requirements - ANSWER✔✔-A candidate for an original real

estate salesperson license must be at least 18 years old; pass a written examination; provide Proof of

Legal Presence in the United States and disclose any criminal violation or disciplinary action.




Applicants who seek to obtain a 4-year salesperson license must complete the college-level Real Estate

Principles course, the Real Estate Practice course, and one additional required college-level course.


Real Estate Broker License Requirements - ANSWER✔✔-The applicant for an original real estate broker

license must be at least 18 years old; actively engaged as a real estate salesperson for at least two years

during the five years immediately preceding the application; have completed eight courses (five

mandatory and three elective courses).




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Can a corporation be licensed as a RE broker? - ANSWER✔✔-A corporation may be licensed as a real

estate broker, if one officer is a qualified real estate broker, who must submit a Corporation License

Application and its fee.


Can corporations do business as FBN's or DBAs? - ANSWER✔✔-Some corporations may do business

under several fictitious business names ("dba"). Applications for changes in name, salespersons and

location must be officially submitted.


Renewal Requirements - ANSWER✔✔-All renewal applicants, including salespersons, must complete a

total of 45 hours of approved offerings within the four-year period immediately preceding license

renewal.




The license may be renewed within two years from expiration. Later than that, one needs to re-qualify

through the examination process.


Revoked license reinstatement - ANSWER✔✔-After a license is revoked, the person affected may not

apply for reinstatement of the license until one year has passed.


Non-Working Status - ANSWER✔✔-Non-Working Status: a salesperson may hold a license, but NOT

perform acts requiring a license.


Brokers and Salesperson licenses must be displayed where? - ANSWER✔✔-For main offices located in

California, the broker's and salespersons licenses' must be available for inspection and changes in the

main office address must be forwarded in a written notice (the change may be corrected in the

certificate itself). For branch offices in California, a license is required for each additional business

location.



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Mailing address with CalBRE - ANSWER✔✔-Both brokers and salespersons are required to maintain their

mailing address of record on file at all times while licensed.


Out of State Requirements - ANSWER✔✔-If a broker does NOT engage in licensed activities in California,

the broker must file an Out of State Broker Acknowledgment (RE 235). Non-resident salespersons must

be licensed with a California broker.


Salesperson license transfer of employing broker - ANSWER✔✔-CalBRE Licensing must be notified in

writing regarding transfers. Within 5 days, the salesperson and the new employing broker must complete

RE 214 - Salesperson Change Application-


Terminated Salesperson notification requirements - ANSWER✔✔-When a salesperson is terminated, the

employing broker must immediately file a certified written statement of the facts with the CalBRE.


RE Broker license suspension & salesperson's licenses - ANSWER✔✔-If a real estate broker license is

revoked or suspended, the licenses of every real estate salesperson in the broker's employ are

automatically canceled. (They may transfer their licenses to a new employing broker).


What is a Prepaid Rental Listing Service License - ANSWER✔✔-A Prepaid Rental Listing Service License

(PRLS) allows the licensee to collect for supplying a prospective tenant with a list of prospective rentals


Sections 10176 and 10177 of the Business Professions Code - ANSWER✔✔-Sections 10176 and 10177 of

the Business Professions Code constitute the foundation for most license suspensions or revocations.




The most important topics under these sections, which constitute the grounds for disciplinary action

against a licensee:




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