Real Estate Principles Chapter 19 Exam Questions and Answers
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Licensed Realtor
Institution
Licensed Realtor
The first state to legislate licensing requirements for real estate agents was - Answer-California
The basic intent for real estate license laws and regulations was to - Answer-protect the public
Who, of the following would be required to have a real estate license?
a. A secretary who answer...
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Real Estate Principles Chapter 19 Exam
Questions and Answers
The first state to legislate licensing requirements for real estate agents was - Answer-
California
The basic intent for real estate license laws and regulations was to - Answer-protect the
public
Who, of the following would be required to have a real estate license?
a. A secretary who answers the phone in a real estate office
b. An attorney who specializes in real estate law
c. An escrow officer
d. A person who solicits buyers and sellers for a broker - Answer-D
In the following examples, who needs a real estate license?
a. Trustees selling foreclosed property for a lender
b. Government employees finding tenants for government properties
c. An attorney at law selling his clients property to settle an estate
d. A nonexempt person dealing in real property for others for compensation - Answer-D
In which states are licensing examinations required for a real estate license?
a. Only the western states
b. All but the New England states
c. All but Texas, Hawaii and Alaska
d. Every state - Answer-D
A nonexempt person who sells real estate for others
a. must always be licensed.
b. need not be licensed if there is no listing agreement..
c. must be a licensed broker.
d. can sell real estate to people in other states. - Answer-A
Who can sell real property WITHOUT a license? - Answer-an attorney, acting within his
duties
In most states, a person is exempt from licensure as a real estate agent when
performing which of the following activities, even if receiving a fee?
a. Renting resort condominiums for the owner as a commissioned rental agent
b. Negotiating an exchange of properties where no cash changes hands
c. Selling real property as an executor of an estate
d. Dealing in land options - Answer-C
, Since real estate agents will be handling other people's money, some states will
examine licensee's - Answer-credit history
A real estate broker differs from a real estate salesperson under the law in that the
a. broker is liable for the acts of the salesperson.
b. salesperson may take a listing with him when he changes brokers.
c. law recognizes no differences.
d. salesperson is responsible for the acts of the broker. - Answer-A
Over time, states have established licensing requirements dealing with all EXCEPT -
Answer--minimum age
-education
-residency
When moving to a new state, a licensed real estate agent in one state can presume his
license status in the former state will be given credit in his new state of residence
a. always.
b. sometimes.
c. never.
d. when moving to Texas only. - Answer-B
Which of the following is responsible for processing license applications, issuing real
estate licenses, and collecting license fees?
a. State legislature
b. Federal Department of Real Estate Licenses
c. Attorney General
d. State Real Estate Commission or Department - Answer-D
Real estate commissions or departments act to protect the public by regulation and
education. The following would be the usual activity of these organizations EXCEPT
a. requiring a specific number of answers on a real estate license exam.
b. requiring all licensees to be reexamined every two years.
c. holding public hearings in response to complaints of improper actions of licensees.
d. requiring a licensee to post a bond or contribute to a recovery fund. - Answer-B
Real estate commissions typically do all of the following - Answer--review license exam
answers
-hold hearings in response to complaints of improper actions of licensees
-determine the number and location of exam testing sites
A real estate broker's or salesperson's license would most likely be revoked for
a. failure to pay REALTORS® dues.
b. misrepresentations.
c. failure to practice real estate.
d. failing to split a commission with an unlicensed individual. - Answer-B
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