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Question 1 of 10
1. Question
Which of the following statements is not required to be reported to the seller customer by a real estate broker?
I. His plan to partner with other brokers to sell the property.
II. The precise nature of the advertisement to be carried out
III. That the seller can compensate the agent of the buyer
IV. The probability, if any, of the broker operating as a dual agentCorrect
It is not necessary to disclose the precise nature of the advertisement to be done to sell the land.
Incorrect
It is not necessary to disclose the precise nature of the advertisement to be done to sell the land.
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Question 2 of 10
2. Question
Which of the following is the key difference between a real estate broker and a salesperson in real estate?
Correct
The salesperson is the broker’s agent. They may also be Realtors. In general, the broker is hired as an independent contractor by the client.
Incorrect
The salesperson is the broker’s agent. They may also be Realtors. In general, the broker is hired as an independent contractor by the client.
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Question 3 of 10
3. Question
Which of the following statements is correct?
Correct
If the period of tenancy is not defined for a leasing apartment, it is assumed to be month to month.
Incorrect
If the period of tenancy is not defined for a leasing apartment, it is assumed to be month to month.
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Question 4 of 10
4. Question
Which of the following is a material fact which can be disclosed?
Correct
That is a legislative question. It is a disclosable fact for the current owner who has added a new bedroom to the building If the park were to be situated across the street or near the building, city plans could be revealed.
Incorrect
That is a legislative question. It is a disclosable fact for the current owner who has added a new bedroom to the building If the park were to be situated across the street or near the building, city plans could be revealed.
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Question 5 of 10
5. Question
Which of the following statements is true?
I. Only one-family- homes are covered in the duty of a real estate agent to inspect.
II. The duty of a real estate agent to inspect the property for defects are for one- to four-family homes only.
III. It is the duty of a real estate agent to inspect private homes only.
IV. Both residential properties and commercial ones should be inspected by a real estate agent.Correct
The possibility of property for material defects is a duty of a real estate agent to inspect that applies only to the houses for one to four family.
Incorrect
The possibility of property for material defects is a duty of a real estate agent to inspect that applies only to the houses for one to four family.
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Question 6 of 10
6. Question
Which of the following statements is true?
Correct
It is the liability of a vendor, seller’s agent and the buyer’s agent to report to the D. purchaser technical defects and material facts.
Incorrect
It is the liability of a vendor, seller’s agent and the buyer’s agent to report to the D. purchaser technical defects and material facts.
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Question 7 of 10
7. Question
Two weeks before escrow closes, a borrower moves into the property of a seller. What does the situation imply?
Correct
You may think the solution to this is too easy, but if the buyer or seller is in possession of property to which he does not have ownership, a rental agreement will usually be enforced.
Incorrect
You may think the solution to this is too easy, but if the buyer or seller is in possession of property to which he does not have ownership, a rental agreement will usually be enforced.
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Question 8 of 10
8. Question
Which of the following statements is false?
Correct
The California Real Estate Recovery Account is intended to reimburse all victims except victims of physical injury as it does not encompass the legislature of the California Real Estate Recovery Account.
Incorrect
The California Real Estate Recovery Account is intended to reimburse all victims except victims of physical injury as it does not encompass the legislature of the California Real Estate Recovery Account.
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Question 9 of 10
9. Question
Which of the following statements best describes what must happen before a licensee’s license can be restored when a payment is made on behalf of a licensee from the recovery account?
Correct
This is legislative. The licensee will immediately suspend the license when a payment from the licensee is made.
Incorrect
This is legislative. The licensee will immediately suspend the license when a payment from the licensee is made.
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Question 10 of 10
10. Question
Which of the practices that follow does not require a real estate license?
Correct
In order to sell your own land, you never need a license.
Incorrect
In order to sell your own land, you never need a license.