CANVAS QUIZ: Chapter 14

Question 1

Every state government regulates its own real estate brokerage activities by staff members who are collectively referred to as:

Answer 1

Regulators

Question 2

Police power deals with:

a. health.
b. safety.
c. morals.
d. all of the above.

Answer 2

d. all of the above.

Question 3

Any person who is actively involved in a real estate transaction at the service of another, in the expectation of receiving a commission, must be:

Answer 3

Licensed

Question 4

A candidate must be how old to obtain a real estate license?

Answer 4

18 years old

Question 5

The California real estate salesperson licensing exam takes ___ hours:

Answer 5

3 hours, 15 minutes

Question 6

To pass the California state salesperson examination, you must get ____ correct:

Answer 6

70%

Question 7

In order to be permitted to take the state real estate exam, an examinee must:

a. present an acceptable picture ID.
b. present a printed test date.
c. pass the exam within 2 years of filing application.
d. all of the above.

Answer 7

d. all of the above.

Question 8

If you take an electronic examination, your results will be:

Answer 8

c. provided to you upon completion of the exam.

Question 9

Qualified candidates who pass their electronic exam:

a. will be entered in a drawing for lunch date with the real estate commissioner.
b. must join a real estate board within 3 days or have to retake the exam.
c. will be issued a license that expires in 8 years.
d. can be issued a temporary license and begin conducting licensed activities immediately.

Answer 9

d. can be issued a temporary license and begin conducting licensed activities immediately.

Question 10

Which of the following individuals is not allowed to solicit for the sale of real property?

a. the owner or holding power of attorney for the owner.
b. an unlicensed person in exchange for compensation.
c. a trustee, selling under a deed of trust.
d. a receiver or court appointee.

Answer 10

b. an unlicensed person in exchange for compensation.

Question 11

Which of the following is required to obtain a California real estate brokers license? A candidate must:

a. be 18 years old or older.
b. have two years real work experience in the last five years or a bachelor’s degree with a major/minor in real estate.
c. complete the required eight broker courses.
d. all of the above.

Answer 11

d. all of the above.

Question 12

Which of the following is true concerning a Mortgage Loan Originator (MLO) License?

a. a salesperson or broker must obtain a DRE Mortgage Loan Originator license endorsement from the DRE.
b. Mortgage Loan Originator requirements are determined under the Mortgage Loan Originator NMLS/SAFE Act.
c. a person acting as an MLO in California without a proper DRE MLO license endorsement is guilty of a crime punishable by six months in prison plus a $20,000 fine.
d. all of the above.

Answer 12

d. all of the above.

Question 13

The portion of the Business and Professions code that refers to licensing and subdivisions is called:

Answer 13

b. the California Real Estate Law

Question 14

The Real Estate Commissioner is appointed by:

Answer 14

The Governor

Question 15

The Real Estate Commissioner is defended by:

Answer 15

The state Attorney General/District Attorney

Question 16

In response to an agent’s misconduct, the Real Estate Commissioner can:

Answer 16

Revoke, restrict, and suspend his/her license.

Question 17

A real estate brokerage’s ethical and professional expectations and requirements, including a mission statement, personnel policies, and general procedures, is called:

Answer 17

Office policy manual

Question 18

The National Association of REALTORS® mandates that every member must take a course studying the NAR Code of Ethics or risk the loss of membership every:

Answer 18

Two years

Question 19

Every REALTOR® must swear to abide by:

Answer 19

The NAR® Code of Ethics

Question 20

A licensee who does not belong to a trade or professional association is referred to as a(n):

Answer 20

Salesperson or broker