Chapter 16 Quiz Sample

Chapter 16 Quiz Sample - Principles of California Real...

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Principles of California Real Estate Chapter 16 Quiz 1. Owen approaches Broker Bob with a property he wants to sell. Bob is interested in the property himself, so they agree to a listing arrangement that gives Bob the right to purchase the property within the first two months of the listing period. Three weeks pass, and Bob decides to buy the land. Before doing so, what must he do? A. Tell Owen of any outstanding offers from other prospective purchasers B. Obtain Owen's written consent as to the amount of profit Bob anticipates making C. Give Owen any material information he has regarding the property D. All of the above 2. When a bulk sale occurs, the buyer must give notice by: A. recording a notice of intent to buy with the county clerk B. sending notice to the county tax assessor C. publishing notice in the newspaper of general circulation D. All of the above 3. The buyer of a business obtains a Certificate of Clearance in order to protect herself from: A. "successor's liability" to the Franchise Tax Board B. "successor's liability" to the State Board of Equalization C. unsecured creditors D. secured creditors 4. Rebecca pays Henry to help her with the sale of her home. Because Henry does not have a real estate license, he has violated the real estate license law and is subject to prosecution by:
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This note was uploaded on 01/26/2012 for the course FIN 365 taught by Professor Staff during the Spring '11 term at S.F. State.

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Chapter 16 Quiz Sample - Principles of California Real...

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