BRE

Question 0

What items need to be submitted to apply for Salesperson License?

Answer 0

1. Application for the R.E. salesperson license (RE 202)
2. The appropriate license fee
3. One fully completed classifiable fingerprint card
4. The fingerprint processing fee and 5. course transcripts

Question 1

What are the regulations for applications for exams and licenses?

Answer 1

Forms must be made on forms by the BRE, application may be presented or mailed to Sacramento…the application must be submitted with license fee, fingerprint card and fingerprint processing fee. Also need to provide SSN.

Question 2

What must applicant submit to BRE regarding fingerprint?

Answer 2

1. A copy of the RE237 with Part 4 completed.
2. The applicant´s completed original license application
3. A check for the appropriate fee, which is currently $51 to DOJ

Question 3

What are acceptable docs for Proof of Legal Presence

Answer 3

A birth certificate from Puerto Rico after 1-13-41, guam after 1-17-17, U.S. Virgin Isl. after 1-17-17, No. Mariana Isl. after 11-4-86, Amer. Samoa, Swains Island, Dist. of Col.. U.S. passport, Cert of Naturalization, Cert. of Citizenship and U.S. Citizen ID card

Question 4

What are the continuing education requirements for license renewal in California?

Answer 4

The 45 CE hours are broken down like this: 3 hours of Agency, 3 hours of Ethics and Professional Conduct, 3 hrs of Trust Fund Acctg. and Hdlg, 3 hours Fair Housing, 3 hours Risk Mgmt and 18 hrs of courses under the umbrella of consumer protection.

Question 5

What happens when a Brokers license expires?

Answer 5

All licensed activities of the broker must cease, the brokers salespersons are immed. placed in a non-working status and any branch licenses are cancelled.

Question 6

What happens two years after a license expires?

Answer 6

All license rights lapse. The individual will be required to re-qualify through the examination process before being licensed in real estate.

Question 7

What does Section 11350 of the Welfare and Institutions Code?

Answer 7

The BRE may not issue or renew a full term license if the applicant is on a list of persons-obligors who have not complied with a court order to provide child support payments. A license may be suspended if a licensee´s name remains on list for 150 days after notice.

Question 8

What are the Examination Fees for Saleperson and Broker?

Answer 8

Salesperson Original Exam: $60 Broker Orginal Exam $95 Re-exam fee Salesperson $60 Broker Re-exam $95, First Re-scheduled exam salesperson $15 Broker $20 Subsequent Rescheduled exam salesperson $30 Broker $30

Question 9

What are the combined Examination and license application fees (and total) for Salesperson?

Answer 9

Exam fee $60, License fee $245 Fingerprint fee $49, Total Due is $305 plus $49 fingerprint fee

Question 10

What are Combination and License Application Fees for Broker?

Answer 10

Exam fee $95 License fee $300 Total due to BRE $395

Question 11

What are the License fees for Salesperson and Broker?

Answer 11

Total License fee due to BRE for Salesperson is $245 and total due to BRE for Broker is $300

Question 12

What are renewal fees for Salesperson and Broker?

Answer 12

On time renewal for salesperson is $245 for Broker $300 late renewal within 2 yrs after license exp. date Salesperson $367 and Broker $450.

Question 13

What are The Corporation Licensing Fees?

Answer 13

Corporation License fee $300, Expired broker license $450

Question 14

What regulations apply to Main Offices in California?

Answer 14

Must maintain an office in Calif., Brokers license and salespersons licenses must be available for inspection, a change of business address must use Broker Change App.(RE 204)

Question 15

What is required of branch offices in California?

Answer 15

A branch office license is required for each additional business location if broker has more than one place of business.

Question 16

What are some ways an application for a license bearing a fictitious name may be denied?

Answer 16

Is misleading or constitute false advertising, implies a parntership or corp. when it does not exist, includes name of saleperson, violation of prov. of Secs. 17910, 17910.5 or 17917 CA code, name of licensee whose license was revoked, contains words: bank, banker, trust, trustee, trust co, insurance, escrow, savings

Question 17

When does an Fictitious Business Name Statement (FBNS) expire?

Answer 17

An FBNS expires at the end of 5 yrs from Dec. 31 of the year in which it was filed in the office of the county clerk.

Question 18

When does Loss of license Status occur?

Answer 18

When a person holding a license allows two years to elapse from the expiration date without applying for late renewal, submitting evidence of completion of CE Requirements and paying fee, if a license is revoked.

Question 19

What is a Prepaid Rental Listing Service License (PRLS)?

Answer 19

A PRLS is in the business of supplying prospective tenants with listings of residential real property for rent or lease while collecting a fee at the same time or in advance of the time the listings are provided.

Question 20

What authority does the BRE Commissioner have?

Answer 20

Commissioner has the authroity to investigate the actions of any person engaged in the business or acting in the capacity of a licensee in CA, and has the power to suspend or revoke the RE license.

Question 21

What are Sections 10176 and 10177?

Answer 21

The sections under the BP Code constitute the foundation for most license suspensions or revocations.

Question 22

What are the Main Reasons for suspension or revocation of a license?

Answer 22

Misrepresentation - failure to disclose to principal all material facts
False Promise - false statement about what promisor is to do
Continue Misrepresentation - continued misrepresentation
Dual Agency - failure to notify principals that licensee is acting as agent for more than one party in transaction

Question 23

What are some violations of Code Section 10176?

Answer 23

Commingling - when broker has mixed funds of principal with brokers own $…Definite Termination date - must specify a termination date on all exclus. listings, Secret Profit, Listing Option, Dishonest Dealing -acting w/o a license, Signatures of Purchasers- must have auth. to sell before securing purchase agreement

Question 24

What are some violations under Section 10177 of the Code?

Answer 24

Obtaining a license by fraud, Convictions, false advertising, Misuse of Trade Name, Conduct warranting denial, Negligience or incompetence

Question 25

What are some additional violations under Section 10177 of the Code?

Answer 25

Supervision of salespersons, Violating Govt. trust, Other Dishonest conduct, restricted license violation, Inducement of Panic Selling, Violation of Franchise Investment Law, Violation of Corp. Code, Violation of Securities Law

Question 26

What is the Real Estate General Fund?

Answer 26

The Real Estate General fund is an acct. that hold all the money collected from license and exam fees and is used for the operating expenses of the BRE. 20% of the GF is divided as follows: 8% for Real Estate Education and Research and 12% Recovery Fund

Question 27

What is the Recovery Fund?

Answer 27

Is an account established as a last resort for a consumer who has obtained a final civil judgement or criminal restitution order against a R.E. licensee based on fraud or other grounds. For payment to be made: intentional fraud, conversion of funds,

Question 28

Which regulations apply for Payment from the Recovery Fund?

Answer 28

The BRE has 15 days to notify applicant of any deficiencies in application, after app. is complete BRE has 90 days to pay, compromise or deny the claim, if denied applicant has 6 mos to refile with the court, if payment is made licensee is suspended until has repaid amt plus interest.

Question 29

What are some exam essentials about salesperson licensing exam?

Answer 29

Exam fee can be paid by check, money order or credit card; mail app. Copies of official transcripts, and fee to Sacramento BRE; submit completed exam app. to BRE..no changes can be made, exam takes 3 hrs 15 min….150 ques. To pass must score 70%

Question 30

What are some more exam essentials?

Answer 30

If you fail to take exam on scheduled date may apply for another exam by filling out form (RE 401A) along with fee; exam score is available within 5 days or ck website; no limitation on number of re-exams but app. Is valid for 2 yrs; each exam must incl. reexam fee

Question 31

What are some steps for success in licensing exam taking?

Answer 31

Try to eliminate any obviously wrong answer; do not choose all of the above unless two are true; if still unsure select most logical answer. At least guess..do not leave blank.

Question 32

What are the main exam topics?

Answer 32

Property Ownership and land use controls and regulations (18%); Laws of Agency (12%); Valuation and Market analysis (12%) Financing (13%) transfer of property (9%) practice of R.E. And Mandated Disclosure (24%) Contracts (12%)