3 Legal Descriptions

3 Legal Descriptions - 1 LAND 2 CHAPTER #15 HERE ARE THE...

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Unformatted text preview: 1 LAND 2 CHAPTER #15 HERE ARE THE ANSWERS 3 1. The term REALTOR can only be used by a member of the: a. National Association of Real Estate Brokers b. National Association of Realtors c. National Association of Real Estate Councils d. All of the above B 4 2. REALTISTS are members of the: a. National Association of Real Estate Brokers b. National Association of Realtors c. National Association of Real Estate Councils d. All of the above A 5 3. Real estate appraisers are licensed by the: a. department of Property Valuation b. Office of Real Estate Appraisers c. Department of Real Estate d. Office of Valuations and Standards B 6 4. A real estate salesperson is usually employed on a commission basis and receives payment directly from the: a. buyer b. seller c. broker d. lender C 7 5. Which of the following best describes the real estate business? a. easy money business b. competitive business c. noncompetitive business d. generous employer-paid benefits B 8 6. In addition to real property, a real estate licensee is allowed to act as an agent for the sale of: a. automobiles b. new, unregistered mobile homes c. travel trailers d. business opportunities D 9 7. Before being allowed to sit for the state real estate sales examination, an applicant must: a. take 45 hours of approved continuing education b. be 21 years old c. take two broker-level courses d. take a course in real estate principles D 10 8. Once a person passes the state real estate sales examination, files an application and pays the fees, a temporary license may be issued for 18 months pending completion of: a. 45 hours of approved continuing education b. eight approved college level broker courses c. four approved college-level broker courses d. two approved college-level broker courses D 11 9. To sit for the real estate brokers examination, an applicant must first do all the following, except: a. take 45 hours of approved continuing education b. take eight approved college-level broker courses c. have two years real estate sales d. pay the required examination fee A 12 10. Once a real estate license has been issued, renewal of the license every four years requires: a. 45 hours of approved continuing education b. a reexamination c. two approved college-level broker courses d. two years of full-time real estate experience or its equivalent A 13 11. The California Real Estate Commissioner is: a. elected by the voters b. appointed by the California Association of Realtors c. appointed by the governor d. elected by the California legislature C 14 1. After a proper hearing, if a licensee has violated a law or regulation, the real estate...
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This note was uploaded on 10/04/2011 for the course REAL ESTAT 11 taught by Professor Robertrooks during the Winter '08 term at El Camino.

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3 Legal Descriptions - 1 LAND 2 CHAPTER #15 HERE ARE THE...

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