Real Estate U Chapter 2 quiz answers

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• Chapter 2 - Real Estate Quiz

Chapter 2 - Real Estate Quiz

by JaskiratSondh, Dec. 2016

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10 Cards in this Set

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Sam, a broker, thought the postage meter stamp was sufficient evidence of a U.S. Postal Service postmark. He was wrong and his broker's license expired. What happened next?

Sam must immediately stop his licensed activity. His salespersons are all placed immediately in non-working status, and his branch office licenses are cancelled. He must then take all necessary steps to re-activate his license, his salespersons' licenses and the branch office licenses.

The main purpose of the California Bureau of Real Estate (CalBRE)

To protect the public.

Bill the broker received a very high offer on a piece of property from a buyer. Bill makes a low offer through a "dummy" purchaser, or an accomplice who is not a buyer at all. Bill then sells the property to the buyer for the higher price, with the difference being profit. What's the violation?

Secret Profit

Hannah is a newly licensed California real estate salesperson. She has aspirations of one day being the California Real Estate Commissioner. How does she get there and what does she do once she's there?

Hannah would need the appointment of the Governor of California. Her primary duty as Commissioner would be to enforce the laws in a manner in which maximum protection for real estate consumers is achieved.

Sam has successfully completed the Real Estate Principles course, the Real Estate Practices course, an additional college level course, and passed the salesperson licensing examination. Which license is available to Sam?

The Four-Year Salesperson License

Miranda helps her friend Lupe purchase a home. She researches the neighborhood, assists her with a mortgage -- she essentially acts as Lupe's real estate agent. There is only one issue, Miranda does not have a California license and Lupe has paid Miranda for her help. Is this acceptable?

It is certainly not acceptable. Miranda is accepting compensation for representing another person in a real estate transaction and she does not hold a California real estate license.

Katrina had her license suspended for making false promises to clients. She had a habit of telling clients what they wanted to hear and never being able to state the facts. Of course, she could never follow through with her statements and several complaints were filed. Which guidelines constitute most suspensions?

Sections 10176 and 10177 of the Business and Professions Code.

Susan is thinking of putting her home up for sale but doesn't want to use a real estate agent. What are her options?

Susan may sell her property herself without obtaining a real estate license. Although she will be compensated for the sale of her home, she is not representing another person.

Jan failed to renew her license prior to its expiration. In order to renew her license now Jan must:

Submit a proper application within 2 years of her license expiration.Providing evidence of the completion of current required continuing education.Pay the appropriate late renewal fee.

The law judge has just issued a decision based upon the findings in a formal hearing of a real estate salesperson for various ethical violations. What is the role of the California Real Estate Commissioner at this point in the proceeding?

Dismiss the findings if the charges are not sustained at the hearing. Reduce the proposed penalty and make an official decision.