Exam Prep - National Section V - Trebs 2024 Questions & Answers 100% Correct!!
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Course
- Trebs 2024
Institution
- Trebs 2024
N5. A person who is NOT licensed and sells and receives commission or offers to sell a property for another person:
A. Has violated the law in every case
B. Has not violated the law if he only did it once
C. Has not violated the law if he did it in conjunction with a real estate agent
D. Cannot...
Exam Prep - National Section V - Trebs
2024 Questions & Answers 100%
Correct!!
N5. A person who is NOT licensed and sells and receives commission or offers to sell a property for
another person:
A. Has violated the law in every case
B. Has not violated the law if he only did it once
C. Has not violated the law if he did it in conjunction with a real estate agent
D. Cannot collect a commission if the contract was not in writing - ANSWERSA. Has violated the law in
every case. An unlicensed person is not allowed to sell or offer to sell property for another person. This
would be practicing real estate without a license. An unlicensed person is not allowed to collect a
commission. Only a real estate licensee may receive a commission.
N5. Regarding solicitation over the telephone, which law allows a licensee to legally solicit business from
someone the licensee already has an established business relationship (EBR) with?
A. Anti-Spam Act
B. The National Do Not Call Registry
C. The Consumer Financial Protection Bureau
D. HUD - ANSWERSB. The National Do-Not-Call Registry. With an established business relationship, a
licensee can legally solicit business over the telephone.
N5. The penalty for violating the Do-Not-Call List can be up to ______________ per violation.
A. $40,000
B. $50
C. $100
D. $100,000 - ANSWERSA. $40,000. Violators will be subject to civil penalties of up to $40,000 (it was
$16,000 before 08/01/16). The provision does not apply to business-to-business calls.
, N5. How many days does a business have to remove a consumer's email address once the consumer has
"opted out" of receiving future emails?
A. A week
B. Two days
C. One day
D. Three days - ANSWERSD. Three days. Businesses normally have an "unsubscribe" button for the
consumer if the consumer no longer wishes to receive emails and communication from that business.
N5. The National Do Not Call Registry allows a business to legally solicit business over the telephone if
the consumer has made an inquiry in what period of time?
A. One year
B. Six months
C. Three months
D. One week - ANSWERSC. Three months. If the consumer has made an inquiry in the past three months,
the National Do Not Call Registry allows a business to legally solicit business over the telephone.
N5. Which act constitutes the practice of law by a real estate licensee who is not a member of the State
Bar?
A. Examining an abstract of title and providing an opinion of authenticity
B. Adding a lead-based paint addendum to the sales contract
C. Counseling a prospect on the most favorable terms obtained on a loan
D. Advising a purchaser to seek assurance of the quality of title conveyed in a transaction - ANSWERSA.
Examining an abstract of title and providing an opinion of authenticity. Agents must refrain from advising
buyers and sellers about the legality of both the abstract of title or the title policy. This constitutes the
unauthorized practice of law.
N5. The National Do-Not-Call Registry can be found on the Federal Trade Commission website. Real
estate practitioners are required to search the Do-Not-Call Registry once every _______ and drop from
their call lists the phone numbers of registered consumers.
A. Six months
B. Year
C. Week
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