Real Estate Chapter 1 - Real Estate License Requirements Exam Questions and Answers
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Course
Licensed Realtor
Institution
Licensed Realtor
What areas of Real Estate are real estate oriented people needed in? - Answer-Real Estate oriented people are needed in the following areas:
a. construction
b. financing
c. escrow
d. appraising
e. property management
f. land development
What does a real estate salesperson's license qualifi...
Real Estate Chapter 1 - Real Estate
License Requirements Exam Questions
and Answers
What areas of Real Estate are real estate oriented people needed in? - Answer-Real
Estate oriented people are needed in the following areas:
a. construction
b. financing
c. escrow
d. appraising
e. property management
f. land development
What does a real estate salesperson's license qualifies him/her to do? - Answer-A real
estate salesperson's license qualifies him/her to work for a real estate broker as a real
estate agent.
What is the public's expectation of a real estate salesperson? - Answer-The public's
expectation of a real estate salesperson is that he is an expert in the eyes of the public
and the law but most new agents soon realize that additional training and education are
necessary in order to satisfy the public's expectations.
Who can own and operate a real estate business? - Answer-Only a broker can own and
operate a real estate business. A real estate salesperson must be affiliated with a
broker and a salesperson only receives payment from a broker for services.
What is the NAR? - Answer-The NAR is the National Association of Realtors and is a
national organization and in order to be called a Realtor you must be a member.
What is the State Association of the NAR called? - Answer-The state association of the
NAR is called the California Association of Realtors or CAR.
What is the major objectives of CAR? - Answer-The major objectives of CAR are:
a. to unite its members
b. to promote high standards
c. to safeguard the land buying public
d. To foster legislation for the benefit and protection of real estate
e. to cooperate in the economic growth and development of the state.
What is the main thrust of REALTOR trade groups? - Answer-The main thrust of Realtor
trade groups is to provide information and education for their members and to pursue
political agendas that are favorable to real estate ownership.
, What types of education is available to Realtors? - Answer-Education available to
Realtors include the following:
a. publications
b. seminars
c. state-national-international conventions
d. videos
e. CDs
f. on-line information and other various training sessions
What other membership perks are there in the realtor associations? - Answer-Other
membership perks in realtor associations include substantial savings on insurance and
other health benefits through group rates.
Who are the Realtists? - Answer-The Realtists are part of another real estate
organization called the National Association of Real Estate Brokers which was formed in
1947 and consists of predominantly African American real estate brokers.
What is the primary focus of Realtists? - Answer-The primary focus of Reatists is to
work for better housing for the communities they serve on national and international
bases.
What could violations on codes of ethics set by the NAR, CAR or NAREB call for? -
Answer-If a member of any of the real estate boards violate the codes of ethics set up
by each could lead to grounds for dismissal from the group and loss of membership
benefits.
What kinds of other employment opportunities exist for someone with a real estate
license? - Answer-Other opportunities that could exists for someone with a real estate
license are:
a. loan officer
b. appraiser
c. escrow officer
d. title officer
e. right of way agents
f. leasing negotiators
g. planners
h. HUD program staff.
What are the current requirements to become a real estate salesperson? - Answer-The
requirements to become a real estate salesperson are:
a. Must be 18 years of age and provide proof of legal presence.
b. Must not have a conviction of a crime that is a felony or that involves moral turpitude
(which may result in the denial of a license.)
c. Must complete 3 college level courses prescribed by the California Bureau of Real
Estate (CalBRE)
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