Chapter 5 ( Brokerage Operations)

Question 0

Six individuals decide to form a real estate partnership? All six individuals are planning to be active real estate sales. Which best applies?

. The partnership must be registered with the commission, and all six partners must be active real estate brokers.

. At least one partner must be licensed as an active broker.

. Only two partners must have a real estate license.

. A partnership cannot be formed as a brokerage business.

Answer 0

The partnership must be registered with the commission, all six partners must be active real estate brokers.

Question 1

A sales associate licensed with a real estate brokerage corporation can be.
. An officer
. A stockholder
. A director
. An officer and director

Answer 1

. a stockholder

Question 2

A broker associate licensed with a real estate brokerage partnership.
. Can be a member of the partnership
. Can make earnest money deposits
. Cannot manage the office
. Cannot supervise licensed sales associates

Answer 2

Can make earnest money deposits.