Real Estate License Exam Questions with Verified Answers
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Course
Licensed Realtor
Institution
Licensed Realtor
A real estate licensee may have his/her license revoked for - Answer-accepting compensation for brokerage services from someone other than the employing broker
Who must comply with the state license laws? - Answer-A real property owner involved in a like kind exchange with another property owner...
Real Estate License Exam Questions
with Verified Answers
A real estate licensee may have his/her license revoked for - Answer-accepting
compensation for brokerage services from someone other than the employing broker
Who must comply with the state license laws? - Answer-A real property owner involved
in a like kind exchange with another property owner who is represented by a license
Which of the following is /are regulated by the real estate license laws? - Answer-An
individual charging a finder's fee for referral of information leading to a listing
A license may be revoked upon proof of - Answer-stating to a perspective client that the
listing commission is set by state law
As a salesperson involved in a real estate transaction, you may accept a commission
from the - Answer-employing broker
A salesperson may advertise a property for sale only - Answer-if the name of the
employing broker is in the ad
A licensing board or commission has jurisdiction to do which of the following? - Answer-
Establish that all real estate commissions are negotiable
A broker can have his/her license revoked for - Answer-failing to pay salespeople their
earned commissions
A real estate broker hires a secretary who does not have a real estate license to be in
charge of the clerical staff. The broker agrees to pay the secretary a fixed salary. Which
of the following duties may the secretary perform? - Answer-Typing contracts submitted
by the salespeople in the broker's office
Which of the following requires a real estate license? - Answer-Obtaining a listing to find
a tenant to rent a store
Which of the following is/are entitled to a hearing before the real estate licensing
commission? - Answer-One who has passed the state licensing exam and has been
denied a license
A broker is guilty of commingling if he/she maintains client's monies - Answer-In a
sealed envelope in the office safe
, Which of the following actions on the part of a real estate broker or salesperson could
result in license revocation? - Answer-Quoting to prospective buyer's a sale price that is
lower than the listed price
A licensee could have his/her license revoked for - Answer-failing to disclose to the
buyer customer the agency relationship he/she has with the buyer
Which of the following is notrequired in an application for a real estate salesperson's
license? - Answer-U.S. citizenship
A broker's license can be revoked if he/she: - Answer-directs a salesperson to make the
first bid on the property without notifying the owner in writing that the prospective
purchaser works for the broker
Which of the following is/are true of each broker licensed in the state? - Answer-The
broker may engage in the business of real estate in less then a full time capacity
Which of the following needs a real estate license? - Answer-Said builder-owner who is
hired by you for a fee to locate a new home for you that was built by his/her competitors
A broker may deposit into the client escrow deposit account - Answer-a small amount of
the broker's money to keep the client's accounting system open
Which of the following is/are true? - Answer-When asked by the buyer, the broker acting
as a, Designated Seller Representative, cannot divulge confidential personal
information about the seller
What are the responsibilities of a broker concerning the monies entrusted to him/her in
a real estate transaction? - Answer-Provide a full accounting to each party of all receipts
and distributions of any fund entrusted to him/her by the parties.
Which of the following can file suit to collect an earned commission? - Answer-A
presently inactive salesperson whowants to sue his/her former broker for payment of
earned but unpaid commissions
A broker's license can be revoked if he/she - Answer-directs a salesperson to make the
first bid on the property without notifying the owner in writing that the prospective
purchaser works for the broker
If a salesperson makes a misrepresentation in selling property: - Answer-the contract
can be voided by the buyer and the salesperson can be disciplined by the licensing
authority
The purpose of the license law is to - Answer-protect the general public.
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