True or False Flashcards
The Commissioner is Elected by the public
False. The Commissioner is appointed by the governor.
The Commissioner serves as CEO of California DRE
True. The Commissioner acts as head (or CEO) of California DRE.
The Commissioner is compensated for serving as Commissioner
True. The Commissioner is compensated, but members of the advisory commission are not.
The Commissioner must be a practicing real estate broker with 10 years’ experience
False. The Commissioner must have five years’ experience as a real estate broker or experience in real estate activities for five of the last 10 years.
The Commissioner issues regulations to enforce law
True. Regulations help clarify and enforce the law.
In the advisory commission, members are elected by the public
False. The Commissioner appoints members to this commission.
In the advisory commission, members compensated for serving on the commission
False. Commission members are not compensated, but some expenses they incur for being a member may be reimbursed.
In the advisory commission, members discuss policy and make recommendations to the Commissioner
True. These discussions occur at meetings that are open to the public.
Consumers are not allowed to perform real estate activities for another person for any kind of payment unless they have a real estate license.
True. A license is required if a consumer wants to be paid for performing real estate activities.
If a consumer wishes to sell their home on their own, they must obtain a real estate license first.
False. Remember, the key is, ‘for others, for compensation.’ Consumers selling their own home do not need a real estate license.
No matter the type of ownership, a brokerage must have at least one licensed broker under which real estate activities are performed.
True. With partnerships, at least one of the partners must be a licensed real estate broker. With corporations, at least one officer must be a licensed real estate broker.
Broker and salesperson licenses must be stored at the main business office.
True. The licenses must be available for inspection upon request.
Main office address changes must be submitted within one week.
False. Main office address changes must be submitted by the next business day.
Additional business offices must have a branch office license.
True. This license must be available for inspection at the branch office.
Brokers can designate any licensee to act as a branch office manager.
False. The designated licensee must have at least two years’ full-time real estate experience during the last five years. They also cannot have a restricted license.
