Quiz 5 - Rooks - March 2006 - Rooks - California Real...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
1 California Real Estate Principles Chapter 5 Quiz – El Camino College – Robert Rooks Classes 1. A licensee is required to tell the parties involved that he or she is representing the buyer: A. as soon as possible. C. after the escrow instructions are filed. B. after the loan is funded. D. after the offer has been accepted. 2. The best way to create an agency relationship is: A. by written agreement. C. by using the MLS service. B. by handshake. D. by creating a dual agency. 3. With the exception of the mortgage disclosure form, which must be kept longer, transaction files of all the important broker and salesperson documents concerning a property be kept for how long? A. One year C. Three years B. Two years D. There is no time requirement 4. A special power of attorney allows the authorized person to: A. transact all of the principal’s business. C. maintain a trust account for the principal. B. transact one specific act (sell your house). D. none of the above. 5. When a real estate salesperson mixes his/her personal funds with the deposit of a client, it’s called: A. commingling. C. secret profit. B. commission.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 02/07/2011 for the course REAL ESTAT 330 taught by Professor Hadley during the Spring '11 term at American College of Computer & Information Sciences.

Page1 / 2

Quiz 5 - Rooks - March 2006 - Rooks - California Real...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online