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1- California Salesperson Exam Prep Progress Exam Questions And Answers With Verified Solutions 100% Correct!!!
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  • California Real Estate

1- California Salesperson Exam Prep Progress Exam Questions And Answers With Verified Solutions 100% Correct!!!

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  • October 9, 2024
  • 10
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • 1 california salesperson exam prep progress exam
  • an agency relationship is created by all of the fo
  • when a real estate agent acts as a dual agent for
  • broker bob collected rents from an apartment hous

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  • California real estate
  • California real estate

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1- California Salesperson Exam Prep
Progress Exam Questions And Answers
With Verified Solutions 100% Correct!!!
An agency relationship is created by all of the following except:

A. agreement
B. ratification
C. specific performance
D. estoppel - ANSWER✔✔C. specific performance

When a real estate agent acts as a dual agent for both the buyer and seller in a 1031
exchange, and does not disclose his dual agency to both parties, he may:

A. provide grounds for either party to rescind the purchase agreement
B. be prevented from receiving any commission
C. be disciplined by the Real Estate Commissioner
D. any of the above - ANSWER✔✔D. any of the above

Broker Bob collected rents from an apartment house under agreement with the
owner. He had been collecting rents on the 1st of each month for several months
and as of July 1, he had collected all but one. On July 2 the owner died. On July 3
the broker went to collect the last rental but the tenant refused to give the rent to
the broker on the grounds that the owner had died and, therefore, the agency
between broker and the owner was terminated. Which of the following is correct?

A. The tenant is correct
B. The broker has the right to collect rents until an executor has been appointed
C. The death of the owner did not terminate the agreement
D. Under the law of agency, the broker has the right to continue collecting rents
but he must place all monies received in a neutral trust account until the court
appoints someone else to collect the rents - ANSWER✔✔A. The tenant is correct

Under Article 3, Section 10176, of the California Real Estate Law, a broker could
not be disciplined for which of the following?

A. Acting for more than one party in a transaction with the knowledge and consent
of all parties thereto

, B. Making any substantial misrepresentation
C. Making any false promises of a character likely to influence
D. Any conduct whether of a same or different character than specified in this
Section which constitutes fraud - ANSWER✔✔A. Acting for more than one party
in a transaction with the knowledge and consent of all parties thereto

Broker Jones secured an agency listing in writing from the Johnson Co. on a
commercial building that had been vacant for some months. The listing broker
entered into a verbal agreement to share his commission with a cooperating broker.
The cooperating broker procured a buyer, but broker Jones refused to split the
commission. The cooperating broker:

A. may recover his share in court
B. may not recover his share in court because this was only a verbal agreement
C. should ask the Commissioner to arbitrate the dispute
D. should go to the Labor Commissioner - ANSWER✔✔A. may recover his share
in court

An agent who pays part of the commission to the buyer:

A. must inform the seller.
B. is subject to criminal prosecution.
C. is subject to discipline by the Real Estate Commissioner.
D. is subject to a civil lawsuit by the seller, even if he disclosed everything to the
seller. - ANSWER✔✔A. must inform the seller.

California Real Estate Law imposes upon a real estate agent the highest obligation
of undivided interest and loyalty to his principal. This relationship is comparable to
that of:

A. a lessee to the lessor.
B. a trustee to his beneficiary.
C. a vendor to the purchaser.
D. a salesperson to his broker. - ANSWER✔✔B. a trustee to his beneficiary.

When a broker is representing the buyer exclusively under a buyer agency contract,
which of the following is true?

A. The buyer's broker has no liability for acts of the listing broker

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