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Ce Shop Real Estate Terms Questions And Answers With Verified Solutions 100% Correct!!!
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Ce Shop Real Estate Terms Questions And Answers With Verified Solutions 100% Correct!!!
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Ce Shop Real Estate Terms QuestionsAnd Answers With Verified Solutions
100% Correct!!!
CalBRE - ANSWER✔✔ A government entity which oversees, regulates,
administers and enforces California real estate law as practiced by licensees.
CALDRE - ANSWER✔✔ California Department of Real Estate
Real Estate Commissioner - ANSWER✔✔ Chief Executive Officer of CALDRE
Real Estate Advisory Commission - ANSWER✔✔ Ten-member group appointed
by the Real Estate Commissioner that makes recommendations to the
Commissioner on matters involving the California Bureau of Real Estate.
How many members of the advisory commission are licensed brokers? -
ANSWER✔✔ Six
How many unlicensed consumers serve on the commission? - ANSWER✔✔ Four
True or False: Members are elected by the public. - ANSWER✔✔ False
True or False: Members are compensated for serving on the commission. -
ANSWER✔✔ False
True or False: Members discuss policy and make recommendations to the
Commissioner. - ANSWER✔✔ True
,What are the ownership types for brokerages in California ? - ANSWER✔✔
Corporation, Partnership, and Sole Proprietor
True or False: No matter the type of ownership, a brokerage must have at least one
licensed broker under which real estate activities are performed. - ANSWER✔✔
True
True or False: Broker and salesperson licenses must be stored at the main business
office. - ANSWER✔✔ True
True or False: Main office address changes must be submitted within one week. -
ANSWER✔✔ False
True or False: Additional business offices must have a branch office license. -
ANSWER✔✔ True
True or False: Brokers can designate any licensee to act as a branch office
manager. - ANSWER✔✔ False
Bret Collects payments on loans secured by real property. In an average year, he
collects nearly 50 payments, totaling close to $80,000. Is a real estate license
required ? - ANSWER✔✔ Yes
Mandy is an officer in Kids-Camp, Inc. She sometimes helps K-C, Inc. purchase
property to make their own parks and playgrounds. She does not receive desperate
compensation for these real estate purchases. Is a license required ? -
ANSWER✔✔ No
, True or False: California law describes a mobile home as a structure transported in
one or more sections, built on a chassis, and consisting of no more than two
dwellings. - ANSWER✔✔ True
True or False: Real estate professionals must be licensed as mobile home dealers to
be involved in the sale or purchase of these units. - ANSWER✔✔ False
Is She Qualified?: LuAnn is an honest and truthful 21 year old. She's successfully
completed courses in Real Estate Principles, Real Estate Practice, and Real Estate
Finance. She's a legal U.S. resident, doesn't have any convictions or child support
obligations, and passed the California salesperson license exam with flying colors.
Is she qualified to obtain a real estate license? - ANSWER✔✔ Yes
Is He Qualified?: John is an honest and truthful 28 year old. He's successfully
completed courses on Real Estate Practice, Real Estate Finance, Real Estate
Appraisal, Legal Aspects of Real Estate, Accounting, Property Management,
Escrows, and Business Law. He's a legal U.S. resident and doesn't have any
convictions or child support obligations. Is he qualified to obtain a real estate
broker license? - ANSWER✔✔ No
When a real estate license is issued in California, how long is that licensed valid? -
ANSWER✔✔ Four years
It's up to licensees to make sure they're completing their CE hours. They'll receive
a reminder about three months before their license expires , but trying to crunch in
all of the hours in this three-month period can be stressful. You can complete CE
courses at any time during the four years immediately preceding the license
expiration. How many hours of CE do licensees need to complete? - ANSWER✔✔
45
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