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Real Estate Course 1 > CH 2 CA State Department of RE > Flashcards

CH 2 CA State Department of RE Flashcards

1
Q

What is the DRE’s mission?

A

To protect the public in real estate transactions and provide related services to the real estate industry.

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2
Q

Who enforces CA real estate laws and real estate licensing laws?

A

the DRE

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3
Q

The revenue necessary to operate the DRE is derived from where?

A

fees charged for real estate licenses, subdivision public reports, and other permits

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4
Q

District offices are located in what five cities?

A

Sacramento, Fresno, Los Angeles, Oakland, and San Diego

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5
Q

What is police power?

A

the right of the sate to enact and enforce laws for the safety of the public

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6
Q

The CA legislature used policy power to create what position?

A

the Commissioner

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7
Q

Who appoints the CA Commissioner?

A

the governor

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8
Q

Who is given power to issue regulations?

A

the Commissioner

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9
Q

What is the Commissioners responsibility/ mission?

A

to enforce RE laws and Subdivided Land Laws in a way to offer max protection for the consumer

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10
Q

The Commissioner’s principal office is located in what city?

A

Sacramento

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11
Q

In a situation where an action is brought against the Commissioner, who will act as their attorney?

A

the Attorney General

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12
Q

If a broker compensated a non licensed person for real estate acts in which need a license to be perform, what is the broker guilty of?

A

a misdemeanor and may be fined by the courts

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13
Q

Salespersons’ licenses must be available for inspection where?

A

in the broker’s main office

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14
Q

Who can a salesperson be compensated/ paid by?

A

only by the broker who employees them, NO one else can compensate them

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15
Q

How long does the sales person license last?

A

4 years

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16
Q

What is a DBA?

A

a fictional business name

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17
Q

A Corporation Change Application is used when?

A

when there is a change in a corporations name

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18
Q

When is a Salesperson Change Application (RE 214) used?

A

when there is a change of salesperson

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19
Q

When is a Corporation Change Application used?

A

If there is a change in the location of the main office or the mailing address

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20
Q

How can you obtain forms from the DRE?

A

at any DRE office or by writing the main office in Sacramento

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21
Q

Where can an application for an exam or license be given to?

A

any DRE office or mailed to Sacramento

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22
Q

A license application must be submitted along with?

A

license fee, completed fingerprint card, and finger print processing fee

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23
Q

What form does a broker applicant use if they were a real estate salesperson in another state?

A

RE 226 Employment Verification

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24
Q

What form does a broker applicant use if they were a broker in another state?

A

RE 228 Employment Certification ; two parties who can verify employment must fill out the form

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25
Q

A corporation may be licensed as a real estate broker if…

A

at least one officer of the corporation is a qualified real estate broker willing to act as the corporation’s responsible designated broker-officer.

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26
Q

EACH broker who is to act for and on behalf of a corporation as a broker-officer must submit what?

A

a completed Corporation License Application

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27
Q

If a broker or salesperson applicant changes his/her address, employer, criminal history or license history after applying, he must file what?

A

anamended supplement setting forth the current information with the Commissioner

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28
Q

Who is exempt from fingerprint requirements?

A

someone who is either currently licensed by the DRE OR who has held a real estate license that expired less than two years ago

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29
Q

What is the DOJ’s Live Scan Program?

A

program where RE applicant submit fingerprints through

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30
Q

All California real estate licenses are issued for a period of how many years?

A

four years

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31
Q

Where can a person find current info on education requirement for license renewals?

A

by contacted the DRE’s Licensing Information Section OR obtain a copy of “Instructions to License Applicants” from any DRE office

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32
Q

What is a Continuing Education Course Verification (RE 251) form used for? When can it be sent to the DRE?

A

to verify completion of continued education requirements for license renewal AND no earlier than 60 days before license is set to expire

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33
Q

Who is exempt from continuing education requirements for license renewal?

A

individuals who have been licensed in good standing for 30 years continuously in CA AND who is also 70 years +

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34
Q

The application for license renewal must be postmarked when?

A

prior to midnight of the expiration date of the current license

35
Q

How long after a license expires, does a sales person have to renew it before having to re take the exam?

A

2 years

36
Q

What does Section 11350.6 of the Welfare and Institutions Code state?

A

that the DRE may NOT issue or renew a full-term license if the applicant is not paying child support

37
Q

What is Non-Working Status?

A

when a salesperson holds a license but is not employed by a broker, they can not perform RE activities until employed

38
Q

Where can a person find the up to date fees for licenses and exams?

A

any DRE district office OR at the DREs website

39
Q

Are fees for license and exams refundable?

A

NO they are not refundable

40
Q

Prepaid Rental Listing Services can not…?

A

negotiate rent contracts or perform activities that require a RE license

41
Q

Is there an exam for individual to obtain the 2-year PRLS license?

A

no exam

42
Q

What is a Prepaid Rental Listing Service (PRLS)?

A

supplying prospective tenants with listings of residential real property for rent for a fee

43
Q

A broker engaged in activities requiring a license must maintain what?

A

an office or definite place of business

44
Q

What must be available for inspection at a brokers main office?

A

brokers license and employed salespersons licenses

45
Q

If a broker changes their main office address, they must notify the DRE no later than the next business day using what application?

A

Broker Change Application (RE 204) or Corporation Change Application (RE 204A)

46
Q

What is required for each additional business location a broker obtains?

A

a branch office license

47
Q

How can a branch office location be added or deleted?

A

using a Branch Office Application (RE 203)

48
Q

An individual or corporate broker can operate under a fictitious business name after who issues a license bearing the fictitious name?

A

the DRE

49
Q

Where do out of state applicants pay the finer printing fee?

A

to the DRE with application

50
Q

What is the fee for replacing a lost license?

A

$15

51
Q

What are the broker and salesperson late renewal fees (with in two years of application)?

A

broker - $450

salesperson - $367

52
Q

What is the fee to obtain an updated license after a change of address or employing broker?

A

$15

53
Q

How much is a corporate license fee?

A

$300

54
Q

How much is a late renewal fee for a corporate license?

A

$450

55
Q

If a broker has multiple fictitious names, the brokers main office license must display…?

A

all the fictitious names

56
Q

When does an FBNS (which is filed with the county clerk) expire?

A

at the end of five years from Dec 31 of the year it was filed

57
Q

What are the Commissioners REGULATIONS a part of?

A

The California Administrative Code

58
Q

What is he California Real Estate LAW and where can it be found?

A

regulates licensing and subdivisions in CA AND found in the Business and Professions Code

59
Q

Who has the authority to investigate the actions of any person engaged in activity that requires a real estate license?

A

The Commissioner

60
Q

If your fingerprints reveal you have a prior conviction, what action is usually taken?

A

a formal hearing to determine if the applicant meets the requirements of honestly and good reputation

61
Q

An investigation of a licensee is based upon what?

A

a written statement from a person who believes they were wronged by a salesperson or broker

62
Q

Once a real estate broker license is revoked or suspended, the licenses of every real estate salesperson in the broker’s employ are what?

A

automatically canceled, those salespersons may transfer their licenses to a new employing broker

63
Q

When a salesperson is terminated by an employing broker for a violation of Real Estate Law, the employing broker must immediately file a what?

A

a certified written statement of the facts with the DRE

64
Q

If a broker does not engage in licensed activities in California, the broker must file what?

A

an Out of State Broker Acknowledgment (RE 235)

65
Q

Brokers who engage in licensed activities in California are required to maintain what?

A

a California business address

66
Q

Those license applicants or licensees who are out of state residents and wish to act as real estate licensees in the State of California must file a signed and notarized what?

A

Consent To Service of Process (RE 234)

67
Q

How does a licensee change their address with the DRE?

A

by filling a change of address notification

  • broker uses RE 204
  • salesperson used RE 214
68
Q

Salespersons must keep their employing broker’s what on file?

A

principal place of business address

69
Q

To receive compensation from the Recovery Fund, an application must be filled within how many years of the final judgment?

A

within one year

70
Q

What is the Recovery Fund?

A

account used as a last resort to pay consumers who suffered financial loss due to a licensee acting in the capacity of an agent who committed intentional fraud or conversion of trust funds

71
Q

20% of the RE General Fund is divided as followed…

A

a. 8% for the real estate education and research fund

b. 12% for the Recovery Fund

72
Q

What is the Real Estate General Fund?

A

an account that holds ALL the money collected from license and exam fees, and is used for the operating expenses of the DRE

73
Q

What is the quarterly Real Estate Bulletin?

A

published by the DRE, distributed to all brokers and salespersons, it is intended for the education of licensees by keeping them informed of the latest administrative provisions

74
Q

Advertising of acts that require a license must contain a designation disclosing stating what?

A

that licensee is performing such acts

75
Q

Broker must cause notice of sales price to be given to both buyers and sellers within how many month after the sale is completed?

A

1 month

76
Q

Licensee must give a copy of any contract to the party signing it when?

A

at the time of signing

77
Q

All listings, deposit receipts, cancelled checks, trust records, etc. are required to be available for inspection for how long?

A

for a three-year period

78
Q

If the Commissioner pays a claim against a licensee from the Recovery Account, what happens?

A

automatic suspension of real estate licensee AND the license may not be reinstated until they reimburse the fund fully plus interest

79
Q

Who has the authority to adopt regulations to aid in the administration and enforcement of the Real Estate Law and the Subdivided Lands Law?

A

the Commissioner

80
Q

The Real Estate Law book, published by the DRE, contains what?

A

the Real Estate Law, Subdivided Lands Law, Commissioner’s Regulations, and pertinent excerpts from the California codes

81
Q

If a person gets their license revoked, how long must they wait till they can apply for reinstatement?

A

one year

82
Q

Section 10176 of The Code is the legal guideline for individuals who?

A

are acting as an agent and who hold a license

83
Q

Section 10177 of The Code is the legal guidelines for individuals who?

A

are NOT acting as an agent and hold a license

Real Estate Course 1 (6 decks)

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