Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Real Estate California > Chapter 1 Business of Real Estate > Flashcards

Chapter 1 Business of Real Estate Flashcards

1
Q

Associate License

A

A real estate sales person or broker who works as the employee of a real estate person.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

blind advertising

A

Ad in which the names of the person placing the ad is not mentioned.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

broker-officer

A

A licensed broker who is an officer of a brokerage that is set up as a corporation and who is designated as the broker responsible for supervision of licensed employees of the brokerage.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

bulk transfer of goods

A

Any transfer of a substantial part of the materials, supplies, merchandise, equipment, or other inventory of a business that is not in the ordinary course of the business’ activities.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Business and Professions Code

A

California code that contains the real estate law, which includes real estate licensing, transaction requirements, and the Subdivided Lands Law.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

business opportunity

A

The assets of an existing business enterprise, including its goodwill.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

CALBRE

A

California Agency that administers the real estate law, including the licensing of real estate brokers and sales people.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Caveat emptor

A

A latin phase meaning that means let the buyer beware,

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

certificate of status

A

A document issued by California Secretary of State showing a corporations place of domicile, date of incorporation, corporate number, name and address of agent for service of process and other information.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

codes

A

Bound volume of laws and regulations

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

conditional licenses

A

A person who is working on but not has completed the process in obtaining a realtor license

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

fictitious business name statement

A

Document indicating the name under which a business is operating; filed with the country where the business is located.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

franchise

A

A Contract or agreement between the franchisor (grantor)

and the franchisee (grantee).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

mobile home dealer

A

Agent who displays or offers for sale two or more mobile homes at his or her place of business ; requires license by Ca. Dept. of Housing and community Dev.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

mortgage loan brokerage

A

An individual or company that brings borrowers and lenders together.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

mortgage loan originator (MLO)

A

A real estate licensee who conducts mortgage loan origination activities and is required to register annually
on the Nationwide Mortgage licensing system and registry

17
Q

Prepaid Rental Listing Service (PRLS)

A

Business that supplies prospective tenants with property listings on payment of a fee

18
Q

Real Estate Advisory Commission

A

A ten- member group appointed by the real estate commissioner that makes recommendations to the Commissioner on matters involving the CAlBRE

19
Q

Real Estate Broker

A

A person employed for a fee by another to carry on any of the activities

20
Q

real estate brokerage

A

Business licensed to conduct activities under authority of real estate broker’s license.

21
Q

Real Estate Commissioner

A

The person designating and managing the Licensing of the state

22
Q

Real Estate Education and Research Fund

A

California fund financed by a fixed portion of real estate license fees, designated to encourage research in land use and real estate development.

23
Q

real estate law

A

Portion of the California Business and Professions code regarding licensing or real estate brokers and salespeople and activities of the CalBRE; also includes Subdivided Lands Laws

24
Q

real estate sales person

A

A person licensed under the provisions of the Real Estate Law to act under the control and supervision of a real estate broker in carrying on any of the activities listed in the license Law

25
Q

recovery account

A

State fund financed by real estate license fees and intended to help compensate victims of real estate licensee fraud, misrepresentation, deceit, or conversion of trust funds, when an court-ordered judgment cannot be collected

26
Q

Regulations of the Real Estate Commissioner

A

Rules that clarify and interpret the Real Estate Law and that are binding on real estate licensees

27
Q

restricted license

A

Real Estate license on which one or more conditions are imposed by the Real Estate Commissioner as the result of a disciplinary action.

28
Q

sales associate

A

A Real estate person or broker who works as the employee of a real estate broker

29
Q

Uniform Commercial Code

A

Building codes that are developed by national or international groups adopted by states and local jurisdictions.

Real Estate California (4 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions