Học Thi Real Estate License ở California: Real Estate Agency 1. A salesperson's relationships to an ownerclient of the broker would be most nearly that of: principal subagent independent contractor employee None Hint 2. The Real Estate Law is part of: the Corporation Code the Statute of Limitations the Business and Professions Code none of these None 3. The primary purpose of the Real Estate Law is to: limit competition protect commissions none of these protect the public None 4. A broker acts as an undisclosed agent for both the buyer and seller in a transaction. The buyer does not want to go through with the purchase although the price she agreed to pay is fair. either a or b is true the buyer could be subject to actual damages the buyer may withdrawn without penalty the buyer could be subject to liquidated damages None Hint 5. The Sherman Act prohibits all except agreements to: set minimum commission divide a market geographically split commission refrain from cooperation with another broker None 6. Both an owner and a buyer ask to have the trust funds deposited by the buyer. The broker should: split the funds with 1/2 to each ask the real estate commissioner for advice turn the funds over to the recovery fund commence an interpleader action None Hint 7. The Commissioner's regulations: must be approved by the governor are part of the Corporation Code have the effect of law are the Real Estate Law None Hint 8. As to money held in trust, which of the following is true? trust accounts must be reconciled monthly trust funds for taxes and insurance may bear interest all of these records must be kept of checks held uncashed None 9. A salesperson, in selling listings of another broker, would be directly responsible to: the owner the multiple listing service the listing broker his or her broker None Hint 10. When may a broker accept a commission from both a buyer and a seller? never if the total commission received does not exceed $500 if both parties consent if he or she provided service to both parties None 11. The Real Estate Law comes from: the state legislature the federal government the National Association of Real Estate Brokers the Real Estate Commissioner None 12. Which of the following woulf most likely be a general agent? a leasing agent a transaction broker a broker acting as agent for both a buyer and a seller a property manager None Hint 13. The first action of the Real Estate Commissioner, prior to disciplinary action against a licensee, would be: an injunction an accusation suspension of license activity notification to the attorney general None 14. The agency between a real estate broker and an owner would not be: an express agency a formal document an implied angency an executed agreement None Hint 15. An owner unilaterally cancelled a six-month sale listing with three months to go. Which of the following is a true statement? the owner could be liable for damages the listing has been cancelled all of the above the agent no longer has a duty to seek buyers None Hint 16. If a principal allows his or her agent to appear to have authority, the principal may not later deny an act of the agent, because of: the Unruh Act estoppel ratification subrogation None Hint 17. Commingling is the reason more licenses are revoked than any other. Which of the following is an example of commingling? all of these holding a deposit check uncashed at your own discretion holding a deposit check uncashed after acceptance at the direction of the seller holding a deposit check uncashed prior to acceptance at the direction of the buyer None 18. Under the Business and Professions Code, which of the following is not grounds for revocation of license? making a single false promise of a character likely to induce a buyer commingling one's own funds with money of others held by him or her acting for more than one party to a transaction with the consent of all parties none of these None Hint 19. A hazardous, colorness, odorness gas found in homes describes: lead asbestos PCBs radon None 20. A selling agent can be : buyer's agent only seller's agent only any of the above a dual agent None Hint 21. A property owner tells the broker that the house is connected to the sewer. The broker relays this information to the buyer, who later finds that the house has septic system in need of repair. The buyer would probably sue: the broker and the owner the owner no one, as he or she should have checked the broker None Hint 22. A buyer of a duplex did not receive a transfer disclosure statement. The buyer can: cancel the contract sue for specific performance cancel only if the title has not transferred sue for punitive damages None 23. Use of term REALTOR by a licensee not authorized to do so could result in: suit by the National Association of REALTORS suspension of license revocation of license any of these None Hint 24. A seller sold property "as is". The broker knew the plumbing was in bad repair but did not inform the buyer. The buyer can sue: none of these no one, as "as is" is really notice of problem no one, as the sale was "as is" the broker None Hint 25. When may a broker refuse to submit a low offer to purchase to the owner? both a and b when the broker has clear instructions as to not submit offer below a set price neither a nor b when the offer is clearly frivolous None 26. The Business and Professions Code comes from: the California Association of Real Estate Brokers the Real Estate Commission the National Association of Realtors the state legislature None Hint 27. Commingling is the opposite of: subordination separation mixing subrogation None 28. A real estate broker can be discliplined for: failure to supervise salespeople making a secret profit any of these violating the Franchise Investment Law None 29. An agency agreement does not require: a competent principal any of these consideration mutual consent None Hint 30. The written contract between an employing broker and an employed salesperson is required by: Real Estate Commission regulations none of these the Business and Professions Code the Real Estate Board None 31. A real estate salesperson is to his or her broker as: a principal is to a principal an agent is to a principal an employee is to an employer an independent contractor is to a principal None Hint 32. Upon acceptance of an offer, a broker may never: none of these turn earnest money over to the seller deposit earnest money into a trust account deposit earnest money into escrow None 33. A broker who is on the city planning commission tells some friends about an advantageous deal based on confidential plans to change the zoning. The broker does not personally benefit in any way. The broker's action: is unethical neither a nor b both a and b places his license in jeopardy None 34. An agent failed to reveal to the seller that she was acting in a dual agency capacity. Therefore, the agent: all of the above cannot enforce the collection of a commission from the seller could be subject to disciplinary action has placed the seller in a position where he can rescind the contract None 35. A broker exceeds his authority and without the owner's knowledge tells the buyer that the house will be repainted. none of these is true the owner alone is liable as the broker was her agent the broker is liable neither the owner nor the broker is liable if it wasn't in writing None 36. A listing broker can have any of the following agencies except: dual agent buyer's agent both b and c seller's agent None Hint 37. A broker is selling his own rental unit. He collects the rent on the first day of the month, which is the same day he receives a deposit with an offer to purchase giving him three days to accept. He should: none of these put the rent in a new trust account and the deposit in the usual trust account put the rent and purchase deposit in his usual trust account open two new trust accounts, one for the rent and one for the deposit None Hint 38. The maximum amount that a person can recover from the Real Estate Education Research and Recovery Fund after he or she has obtained a judgment against a licensee is: $20,000 $50,000 no limit-the amount of his or her loss $500 None Hint 39. A contract for the sale of residential property includes a general "as is" provision. This provision: is valid on caveat emptor theory can be ignored, as it takes away the right to a habitable dwelling applies only to visible and observable conditions applies only to matters of record None 40. The Real Estate Commission conducts hearings in accordance with the: Commissioner's regulations Public Procedures Act Real Estate Law Administrative Procedures Act None 41. As to a broker's trust accounts, which of the following is true? it must be audited yearly every broker must have one none of these a record must be kept of funds received that are deposited directly into escrow None 42. A valid agency requires a(n): written agreement attorney-in-fact none of these express agreement None Hint 43. The three steps of agency disclosure, in the proper chronological order, are: confirm-elect-disclose elect-confirm-disclose disclose-elect-confirm disclose-confirm-disclose None 44. When is a broker engaged in dual agency? when the broker represents the seller and the buyer when the broker buys a property he or she listed when the broker lists a property he or she previously sold when the broker represents the seller and another broker represents the buyer None 45. The agency formed by an exclusive listing is: an ostensible agency none of these an express agency an implied agency None Hint 46. IRS Form 1099 would be used by a broker to report: foreign sellers receipt of $10,000 in cash suspected fraud a salesperson's earnings None Hint 47. An example of a red flag would be: an older home A home overbuilt fo the neighborhood Chinese ownership a floor that is not level None Hint 48. Disciplinary hearing for real estate licensees would be conducted by: the superior court the real estate commissioner the real estate advisory commission an administrative law judge None 49. Which of the following does not need any special knowledge of law? an attorney-in-fact a real estate broker a real estate salesperson none of these None Hint 50. A country real estate broker's office is in his home. His sign reads "John Jones-REALTOR". He lives 25 miles from a bank and makes trips twice a month to deposit funds in his trust account. He keeps deposits in his office safe until then. He does not belong to any profeessional organizations, but he pays a 17-year-old boy $5 for each listing. Jones is guilty of all but which of the following? zoning violation an illegal sign paying an unlicensed person to solicit listings commingling funds None Hint 51. A Real Estate Transfer Disclosure Statement is NOT required for the sale of: a home where the sale price is less than $300,000 a commercial property a non-owner occupied duplex a residence sold "as is" None Hint 52. A real estate broker is guilty of conversion. He or she most likely: used trust funds for personal use commingled funds split his or her commission with an unlicensed party acted for both parties to a transaction without their approval None Hint 53. A listing broker may not be: none of these the sole agent of the buyer a dual agent the sole agent of the owner None Hint 54. How long does a broker have to deposit a check received made out to the broker's trust account? 24 hours two business days one business day three business days None 55. A selling agent can elect to be: seller's agent any of these dual agent buyer's agent None 56. A property owner suffers a loss because of the fraudulent misrepresentation of a broker. The owner should: immediately file a claim with the Real Estate Commisioner immediately file a claim with the Real Estate Education Research and Recovery Fund sue the broker for damages none of these None Hint 57. A broker sells an apartment building to a syndicate of which the broker is a member without informing the seller of this interest. Before closing, the owner discovers the broker's interest and refuses to sell. In a suit to collect a commission, the result would probably be: revocation of the broker's license that no commission would be paid that the broker would get the commission that the buyer would obtain specific performance None Hint 58. An agency relationship would not be created by: ratification a verbal agreement implication subornation None Hint 59. A buyer claims that a seller and a broker failed to reveal many defects known to them that made the property unsuitable for the purpose stated. the broker could be subject to discipline the broker should have stated "as is" in the deposit receipt the buyer does not have a case the broker should have stated "as is condition" in the deposit receipt None Hint 60. The court decision that requires the agent to make a reasonable visual inspection of the premises is: Brown v. Board of Education Easton v. Strassburger Charley v. Vogel Shelley v. Kraemer None 61. A broker may never: act as an escrow accept commissions from the buyer and the seller sell his or her own property to a customer none of these None Hint 62. An agent may disobey instructions of the agent's principal: when the agent feels it is in the principal's best interests if disobedience will not jeopardize the principal's interest never in an emergency situation None Hint 63. California allows which type of agency? none of the above designated agency facilitators transaction brokers None 64. Penny sues a licensee for damages resulting from dishonest conduct in a real estate dealing. The maximum she can collect is: $7,500 none of these $20,000 $5,000 None Hint 65. A person may give a power of attorney to: sign a grant deed list real estate accept an offer on real estate any of these None Hint 66. In a sale transaction, a broker represents only the buyer. This would be an example of: dual agency general agency designated agency single agency None Hint 67. A salesperson's business card must include: all of the above the salesperson's license number the broker's name the salesperson's name as it is on his or her license None 68. If an agent is guilty of a tort, the: agent is liable, even if the tort is committed at the principal's direction principal is liable for all torts of an agent principal is liable only if the tort is outside the scope of the agency agent is liable only if the tort is outside the scope of the agency None Hint 69. XYZ Inc. listed a warehouse for sale. After giving the listing, all the officers and directos are killed in a plan crash. What happens to the listing? it is suspended until new officers and directors take over it remains in full force and effect it is automatically terminated it becomes a listing coupled with an interest None Hint 70. An attorney-in-fact cannot: record a notarized power of attorney sell real estate of his or her principal take a mortgage on his or her principal's property any of these None 71. A transfer disclosure statement is required for: sale between spouses subdivision sales involving a public report sale of 1-4 residential units foreclosure sales None 72. Balancing a bank statement with a trust account is known as: trial balance none of these auditing reconciliation None 73. A principal would not be liable for torts of: an agent outside the scope of the contract any of these an independent contractor outside the scope of the contract an independent contractor within the scope of the contract None Hint 74. A broker offered subagency to another agent. Which of the following is a true statement? if accepted, the other agent would have all the agency duties to the owner the owner must have authorized it the other agent would likely decline all of the above None Hint 75. A broker buys a property he has listed: all of these he violated his agency he has violated the Real Estate Law he must inform the owner that the offer is his None
