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