California “R.E. Practice” questions Ch1-Ch3

(correct answers will be revealed with correct subscription)

————-

Tip: to find a certain word or key term,  press at the same time, the buttons:

( Ctrl and F ) on Windows computers

(Command and F ) on Mac computer

to bring up the in-page search box


California: Real Estate Practice – Ch1 Quiz with no answers

Answers will be revealed with proper subscription

1 of 10 Broker Alice has hired several independent contractors in her firm. Which of the these activities does she have control over?

A.    What the licensees wear.

B.     What percent of commission the licensees can charge.

C.     How much time the licensees must spend in the office.

D.    Whether or not the licensees attend staff meetings.

2 of 10 Which of these statements is true?

A.    Salesperson Harry can solicit his own listings.

B.     Salesperson Julie can receive her commission from the cooperating broker in her latest transaction.

C.     Salespersons must perform all of their activities on behalf of their employing broker.

D.    Broker Tom has only limited responsibility for the actions of his licensees.

3 of 10 Which of the following would be an example of a licensee specializing in business type?

A.    Jim specializes in clients who want to buy restaurants.

B.     Alice knows everything about the exclusive east side neighborhoods.

C.     Tom specializes in options.

D.    Chris is a buyer’s agent.

4 of 10 Which of the following is NOT a condition of the safe harbor test?

A.    Person must be properly licensed.

B.     Gross income must be based on production.

C.     Clearly written contractor agreement must exist.

D.    Gross income must be based on hours worked.

5 of 10 Alice has decided that she will specialize in selling farm land. Which area of specialization would she fall into?

A.    Geography

B.     Type of property

C.     Business type

D.    Type of client

6 of 10 Which of the following statements is not true?

A.    A broker may require licensees to carry high levels of automobile insurance.

B.     It’s a good idea for brokers to carry workers’ compensation coverage.

C.     A broker is not responsible for the acts of independent contractors.

D.    Employee status versus independent contractor status is an IRS issue.

7 of 10 Which of the following is not a national real estate trade organization?

A.    NAR

B.     CAR

C.     NAREB

D.    AREAA

8 of 10 Which of the following circumstances would concern you about working for Broker John?

A.    John offers weekly training seminars.

B.     There are several successful agents at John’s office.

C.     John’s office has a selection of books, CDs and tapes for agent use.

D.    John expects his agents to spend 5 hours a week on unsupervised telephone duty.

9 of 10 A shopping center would be primarily categorized as what type of property?

A.    Residential

B.     Agricultural

C.     Investment

D.    Commercial

10 of 10 All of the following are true statements about goals except which one?

A.    Goals should be measurable.

B.     It’s easier to prioritize your tasks if your goals are in writing.

C.     Once you set a goal you should never change it.

D.    Goals must be realistic if you hope to accomplish them.

Ch1 bonus questions

1.      What economic factors affect the real estate market as well as other goods and services?

2.      How are properties affected by the local economy?

3.      Other than residential list three kinds of property in the real estate market.

4.      Jim has decided that he will learn all he can about the new subdivisions at the west end of town. Jim has decided to specialize in what area of real estate?

5.      From whom may a salesperson receive compensation for performed activities?

6.      What is the major difference between an employee and an independent contractor?

7.      What kinds of insurance do brokers normally require of their employees? 

8.      What should a licensee’s written employment agreement contain?

9.      Give an example of a specific short-term goal.

10.  What do you need to remember about making phone calls to potential clients?

11.  What is meant by the term “sphere of influence”? 

12.  What are members of NAR required to do? 

Ch2 – Quiz with no answers

Answers will be revealed with proper subscription

1 of 10 Which Fair Housing Law added sex to the list of protected classes?

A.    Housing and Community Development Act

B.     Rehabilitation Act of 1973

C.     Jones v. Mayer

D.    Fair Housing Amendments Act

2 of 10 Which is not a true statement about the Americans with Disabilities Act?

A.    A broker might need to change the layout of the office to make the aisles wider for clients in wheelchairs.

B.     A duplex owner might need to remodel the kitchen in the rental unit to accommodate persons with disabilities.

C.     An apartment manager might be required to allow a tenant with a disability to widen a doorway.

D.    A shopping center might have to remodel their public restrooms.

3 of 10 How long must trust account records be kept?

A.    1 year

B.     2 years

C.     3 years

D.    5 years

4 of 10 If a person believes he or she has been discriminated against, how long does he or she have to file a HUD complaint?

A.    30 days

B.     90 days

C.     1 year

D.    2 years

5 of 10 Which of the following is not a source of information for professional ethics codes?

A.    State laws

B.     Licensing regulations

C.     Real estate associations

D.    Real estate schools

6 of 10 A broker induces an owner to sell by telling him that Hispanics are moving into the neighborhood. This broker is guilty of what prohibited activity?

A.    Redlining

B.     Panic selling

C.     Steering

D.    Misrepresentation

7 of 10 If a broker receives a deposit check with a purchase contract, which of these is he not allowed to do?

A.    Deposit it directly into escrow.

B.     Give it to the principal.

C.     Deposit into the brokerage business account.

D.    Hold it with the buyer’s permission until the contract is accepted.

8 of 10 Which California Fair Housing law provides protection from discrimination by business establishments?

A.    Rumford Fair Housing Act

B.     Unruh Civil Rights Act

C.     Holden Act

D.    Fair Employment and Housing Act

9 of 10 A person who believes he or she has been discriminated against has how long from the time of the alleged violation to file a suit in a state or federal court?

A.    6 months

B.     12 months

C.     18 months

D.    24 months

10 of 10 Which of these is not an exemption to fair housing law?

A.    Senior housing for residents 62 or older

B.     A religious organization providing housing to members only

C.     The sale of a single-family home by an owner who owns five residences

D.    Rental of a unit in an owner-occupied four-family flat

Bonus Ch2 questions

1. Why is it important for licensees to understand the Americans with Disabilities Act?

2. Alex Jones owns a duplex and lives in one unit. He refuses to rent the other unit to families with children. What would you say about Alex’s actions?

3. If a person feels like he or she has been discriminated against, how long does that person have to file a complaint?

4. Salesperson Sally tells her senior citizen buyers that the home they want to view is located in a neighborhood with several small children and loud teenagers. She tells them they would not be comfortable in this home and she shows them a list of homes in other neighborhoods she thinks would be more appropriate. What would you say about Sally’s behavior? 

California: Real Estate Practice – Ch3 – Quiz with no answers

Answers will be revealed with proper subscription

1 of 10 Which of the following types of agency is not allowed in California?

A.    Dual agency

B.     Buyer’s agency

C.     Single agency

D.    Designated agency

2 of 10 Which of the following is not a fiduciary duty an agent owes to his or her principal?

A.    Loyalty

B.     Confidentiality

C.     Accountability

D.    Blind obedience

3 of 10 When must a listing agent present the Disclosure Regarding Real Estate Agency Relationships to the seller?

A.    Prior to bringing an offer to purchase.

B.     Prior to accepting the listing.

C.     As soon as possible.

D.    Prior to conducting any showings.

4 of 10 Timeshare buyers have the right to rescind a transaction within what timeframe after signing the purchase contract?

A.    1 day

B.     3 days

C.     7 days

D.    Never

5 of 10 The principles of an agency relationship include all of these factors except which one?

A.    Mutual consent

B.     Authorization

C.     Compensation

D.    Fiduciary duties

6 of 10 Which booklet is not part of the Combined Hazards Book?

A.    The Residential Environmental Hazards Guide

B.     Protect Your Family From Lead In Your Home

C.     The Homeowners Guide to Earthquake Safety

D.    Consumer Guide to Disclosure for Buyers

7 of 10 Which disclosure form gives detailed information about the property’s condition?

A.    Real Estate Transfer Disclosure Statement

B.     Agency Disclosure

C.     Natural Hazard Disclosure Statement

D.    Mello-Roos Report

8 of 10 Which disclosure is required by the Real Estate Settlement Procedures Act?

A.    Good faith estimate

B.     Rights regarding discrimination

C.     Transfer of the loan collection

D.    All of the above

9 of 10 Agent Paul is bound to inform his client of all facts that might affect the client’s interests — both what Paul knows and what he “should have known.” Which of these situations would not be something Paul “should know”?

A.    There is a crack in the basement wall.

B.     The owner of the property is HIV positive.

C.     The air conditioner does not work.

D.    The casement windows have broken seals.

10 of 10 If an agent does not comply with the requirement of conducting a visual inspection of a property, how long after possession does the buyer have to file a suit?

A.    6 months

B.     12 months

C.     24 months

D.    36 months

Bonus ch3 questions –

1- When is an agency relationship created?
2- What exception exists to the duty of obedience when working with a client?
3- An agent’s fiduciary responsibilities to a client usually end when the transaction closes. This is not true of which duty?
4- Amanda calls broker Tim to schedule a showing of one of his listings. Amanda loves the home and wants to make an offer. What should Tim do next? 
5- When must a licensee provide an agency disclosure to a prospective client?
6- What is the Real Estate Transfer Disclosure Statement and who is responsible for providing it?
7- Agent Jim needs to do a visual inspection of his listing. What kinds of things should he be looking for? 
8- Why should agent Grace give her client a Combined Hazards Book? 
9- What required disclosure is a result of Megan’s Law?
10- Which disclosures are NOT required to be made when selling residential property?
11- What is a public report and when must it be provided? 
12- What does TRID require of lenders?