CALIFORNIA REAL ESTATE SALESPERSON EXAM//WITH QUESTIONS AND CORRECT
ANSWERS //VERIFIED ANSWERS GRADED A+//LATEST UPDATE 2024/2025
Real Estate Law
Part 1, Sections 10000 to 10580 of the Business and Professions Code
Subdivided Land Law
Part 2, Sections 11000 to 112000 of the Business and Professions Code
Commission's Regulation 2770
Which regulation or section(s) apply to the use of the Internet for
advertising in California?
Not Indicating Your License Status
Business and Professions Code Section 10235.5 and 10140.6
5 Mandatory Courses for Broker License
1) Real Estate Practice
2) Legal Aspects of Real Estate
3) Real Estate Financing
4) Real Estate Appraisal
5) Accounting or Real Estate Economics
Continuing Education Required Classes
1) 3 Hours of Agency
2) 3 Hours of Ethics & Professional Conduct
3) 3 Hours trust Fund Accounting and Handling
4) 3 Hours Fair Housing
5) 3 Hours Risk Management
,6) 18 Hours Consumer Protection
Where do you find California Real Estate Law?
Business and Professions Code
What are Commissioner's Regulations?
Rules that are part of the California Administrative Code - established
and enforced by the Commissioner
Section 10176 of The Code
The legal guideline for the actions of a real estate licensee performing or
attempting to perform any of the licensed acts within the scope of the
Real Estate Law
Section 10177 of the Business and Professions Code
Applies to situations in which the licensee involved was not necessarily
acting in the capacity of an agent
Civil Rights Act of 1866
Prohibits discrimination based on race or color
Executive Order 11063
Prevents discrimination in residential properties financed by FHA & VA
loans
Civil Rights Act of 1968
Prohibits discrimination concerning the sale, rental and financing of
housing based on race, religion, national origin and sex.
New Fair Housing Regulation
Equal access to housing in HUD programs regardless of gender,
sexuality, etc.
Home Mortgage Disclosure Act
,A federal law that requires lenders to annually disclose the number of
loan applications and loans in certain areas, thus eliminating the practice
of "redlining."
Blockbusting
Illegal practice of inducing homeowners to sell their properties by telling
them that a certain people of a certain race, national origin or religion
are moving into the area. They will usually sell the property for cheaper,
then resell at a higher price.
Panic Peddling
Inducing people to sell their home by insinuating property values will
plummet. Often they tell homeowners that minorities are moving in.
Steering
Channeling prospective buyers or tenants to particular neighborhoods
based upon their race, religion, national origin, or ancestry.
Livery of Seisin
When you sell the entire bundle of rights.
"I own it and I have the right to sell it."
5 Economic Characteristics of Land
D - Demand - more demand means more value
U - Utility or Usefulness - is it more useful
S - Scarcity: sells quickly if available - 1 property will sell quickly if
only a few in that area are available
T - Transferability: easy to transfer/sell when loans are available and
rates are low
S - Situs: location, location, location
3 Physical Characteristics of Land
, Immobile - real estate is permanent
Indestructibility - land is permanent
Uniqueness - nonhomogenous - no property is the same as another
property
Personal Property
All property not classified as real property; readily moveable like
furniture, cars, etc. Also known as Chattel
Chattel
personal property
Real Property
Land and everything permanently attached to it
5 Ways to Determine A Fixture vs. Personal Property
1) Method of Attachment - how is it attached?
2) Adaptability - if well adapted, it is a fixture
3) Relationship of Parties - are they trade items or in the contract?
4) Intent of the Parties - Use common sense or get it in writing
5) Agreement Between Parties - make it clear
Annexation
When personal property becomes real property
Severance
When real property becomes personal property
CERCLA
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