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