B8 Flashcards
A salesperson runs an ad in the local paper promoting a broker’s listing. Which of the following is true?
a. The salesperson’s name must appear
b. The designated broker’s name must be larger in size than the salesperson’s
c. The brokerage name must appear prominently in the ad
d. The broker’s telephone number must appear in the ad
c. The brokerage name must appear prominently in the ad.
Which of the following advertising would NOT be regulated by the Department of Real Estate?
a. A classified ad with no brokerage name
b. Ads using the word “team”
c. Ads naming property specific and details
d. Seller misusing the word acre
d. Seller misusing the word acre
When a licensee knows of material facts that affect the buying or selling decision, the facts must be:
a. Disclosed orally
b. Disclosed in writing
c. Recorded with the Commissioner
d. Recorded on title before close of escrow
b. Disclosed in writing
Which of the following documents would a homeowner’s association NOT be required to give a buyer upon resale?
a. Financial statements
b. Reserve analysis
c. Bylaws of the association
d. Personal financial statements
d. Personal financial statements
Who is responsible for providing homeowner’s association documents to a buyer upon the sale of a property located in a homeowner’s association if there are less than 50 units in the association?
a. Broker
b. Seller
c. Association
d. Escrow
b. Seller
When a property is located within a homeowner’s association, who is responsible for supplying the relevant documents?
a. Selling Broker
b. Listing Broker
c. Seller if more than 50 units
d. Association if more than 50 units
d. Association if more than 50 units
A buyer is buying a home located within a HOA. The home has a violation that is not known by the HOA and has not been disclosed to the buyer. Which of the following is true regarding the violation?
a. Buyer may be required to correct the violation
b. Buyer would not be required to correct the violation
c. The violation is grandfathered in
d. After the close of escrow, this violation would be stricken from the CC&R’s
a. Buyer may be required to correct the violation
No criminal, civil, or administrative action may be brought against a licensee for failure to disclose which of the following:
a. Property is located in a floodplain
b. Property is located in a Superfund site
c. Property was a site of a natural death or suicide
d. Property is located near a military airport
c. Property was a site of a natural death or suicide
All of the following would be a violation of the commissioner’s rules EXCEPT:
a. Showing a property presently listed
b. Presenting an offer directly to the owner and not to the listing agent
c. Failing to present an oral offer
d. Inducing a buyer to cancel an existing purchase contract
a. Showing a property presently listed
Which of the following is true when paying an out-of-state referral fee to an employing broker?
a. The exact dollar fee must be disclosed to all parties
b. Only the name of the brokerage firms representing the parties must be disclosed in writing to all parties prior to close of escrow
c. Buyer and seller must agree in writing before a referral fee can be paid
d. The Department of Real Estate must be notified if an out-of-state broker is paid a referral fee
b. Only the name of the brokerage firms representing the parties must be disclosed in writing to all parties prior to close of escrow
A real estate ad must contain which of the following?
a. Brokerage name
b. Salesperson’s name
c. Broker’s and Salesperson’s name
d. Name of principal
a. Brokerage name
When an agent is unable to contact the listing broker to present an offer for 24 hours, the agent:
a. May present the offer with written consent of the buyer
b. May present the offer with written consent of the seller
c. May present the offer with written consent of the broker
d. Must wait and present the offer to the listing agent when available
b. May present the offer with written consent of the seller
