Reference no: EM131036258

Part 1

Question 1

Most agents meet with prospective homebuyers:

a. after the buyers have done extensive research online.
b. before the buyers have done extensive research online.
c. during a sponsored webcast.
d. during a free dinner presentation.

Question 2

Businesses that have physical (rather than virtual or online) presences are referred to as:

a. big box.
b. vintage.
c. brick and mortar.
d. kiosk.

Question 3

The majority of the people in the U.S:

a. have smartphones.
b. have access to the internet.
c. utilize some sort of social media.
d. all of the above.

Question 4

MLS data is updated every:

a. 15 seconds.
b. 30 seconds.
c. 15 minutes.
d. 30 minutes.

Question 5

Which of the following real estate websites is NOT open to the public?

a. Realtor.com
b. Zillow .com
c. Trulia.com
d. Multiple Listing Service

Question 6

The entire process of communicating the benefit of your real estate service to your customers is best described as:

a. real estate marketing.
b. office management.
c. information dissemination.
d. none of the above.

Question 7

The ability to select and cultivate a subgroup of people to whom you directly promote your services in a way strategically designed to satisfy their specific needs and preferences is best described as:

a. selective marketing.
b. target or niche marketing.
c. neighborhood marketing.
d. local advertising.

Question 8

The people in your target market are collectively referred to as your:

a. Facebook friends.
b. sphere of influence.
c. constituency.
d. none of the above.

Question 9

Paid promotion used to help persuade a buyer or seller to talk to you is best described as:

a. advertising.
b. marketing.
c. publicity.
d. payola.

Question 10

Unpaid communication and relationships with various public audiences is best described as:

a. public relations.
b. publicity.
c. advertising.
d. a waste of time.

Question 11

A software application that runs in a smartphone, tablet, or other portable device is called:

a. an operating system.
b. a mobile application.
c. a driver.
d. a router.

Question 12

The process of getting a listing's information displayed on numerous other websites around the internet is called:

a. advertising.
b. collaborating.
c. a listing syndication.
d. promotion.

Question 13

Which is by far the most often visited social networking site on the internet?

a. My Space
b. e-Harmony
c. LinkedIn
d. Facebook

Question 14

A type of barcode that consists of square dots arranged in a square grid on a white background which can be read by an imaging device and processed is called a(n):

a. tweet code.
b. quick response (QR) code.
c. pin code.
d. an e-post code.

Question 15

A "red flag" warning of a potential rental fraud is:

a. an advertised rental rate low for the area.
b. a requirement that advance payment of rents and deposits be made via cash or wire transfer.
c. the unwillingness of the prospective landlord or agent to meet in person.
d. all of the above.

Question 16

The study and prediction of things people do as they age is called:

a. marketing.
b. demographics.
c. anthropology.
d. progressive consumerism.

Question 17

What is the segment of the U.S. population born between 1982 and 2004 referred to as?

a. Millenials
b. Baby boomers
c. Generation X
d. Generation Y

Question 18

Which segment of the U.S. population is predicted to eventually make up 50% of the workforce?

a. Baby boomers
b. Rappers
c. Millennials
d. Veterans

Question 19

According to the U. S. Census Bureau, at what is the "Average Peak Age" that people will purchase a starter house?

a. Mid twenties
b. Early thirties
c. Late thirties
d. Early forties

Question 20

If marketing starter homes, which marketing tools are more likely to be most effective?

a. Direct Mail
b. E-mails
c. Social Media
d. Both b and c

Part 2

Question 1

The key to most real estate transactions is:

a. financing.
b. advertising.
c. commissions.
d. all of the above.

Question 2

The rate stated in the note is the:

a. effective interest rate.
b. nominal interest rate.
c. both a and b.
d. none of the above.

Question 3

The charge for borrowing money is called:

a. boot.
b. usury.
c. interest.
d. chattel.

Question 4

Points are figured on the:

a. amount of the new loan.
b. the selling price of the property.
c. amount of commission.
d. all of the above.

Question 5

A charge to the borrower for paying off all or part of a loan balance before the due date is:

a. called usury.
b. called interest.
c. illegal.
d. called a prepayment penalty.

Question 6

A prepayment penalty for a one- to four-unit home loan is only enforceable during the first:

a. twenty years of the loan.
b. ten years of the loan.
c. five years of the loan.
d. two years of the loan.

Question 7

Impound accounts are prepaid items consisting of reserves for:

a. property taxes.
b. hazard insurance.
c. mortgage insurance.
d. all of the above

Question 8

Which of the following is considered an institutional lender?

a. Savings banks
b. Commercial banks
c. Life insurance companies
d. All of the above

Question 9

Which of the following are direct lenders who fund loans themselves using an investor's guidelines then sell the loan to that investor?

a. Mortgage bankers
b. Mortgage brokers
c. Mortgage loaners
d. None of the above

Question 10

Which of the following are licensed and shop for a lender for the borrowers and earn a fee by putting lender and borrower together?

a. Mortgage bankers
b. Mortgage brokers
c. Mortgage finders.
d. None of the above

Question 11

Savings and lender interest rates are generally determined by the market but influenced by actions of the:

a. Federal Housing Finance Board and the Federal Reserve Board.
b. Federal Deposit Insurance Corporation and the U.S. Treasury.
c. Federal Housing Administration and the Veterans Administration.
d. all of the above.

Question 12

A loan for which the payments are usually the same each month for the life of the loan is a(n):

a. adjustable rate mortgage.
b. fixed rate mortgage.
c. graduated payment mortgage.
d. all of the above

Question 13

What occurs when monthly installment payments are insufficient to pay the interest accruing on the principle balance, so that the unpaid interest must be added to the principle due?

a. Reverse amortization
b. Forensic amortization
c. Negative amortization
d. Accelerated amortization

Question 14

With which loan product can the borrower receive monthly installments, or a lump sum, and the loan is usually only due and payable if the borrower discontinues occupying the property?

a. Unamortized Mortgage Loan
b. Reverse Mortgage Loan
c. FEMA Mortgage Loan
d. SBA Mortgage Loan

Question 15

FNMA stands for:

a. Fannie Mae.
b. Federal National Mortgage Association.
c. both a and b.
d. none of the above.

Question 16

Which of the following federal acts allows loan applicants who have data collected to see their files?

a. The Truth in Lending Act
b. The Equal Credit Opportunity Act
c. The Equal Access Act
d. The Fair Credit Reporting Act

Question 17

What is the difference between market value and existing loans against the property called?

a. Equity
b. Boot
c. Profit
d. Proceeds

Question 18

The SAFE Act stands for the:

a. State and Federal Expedience Act.
b. Secure and Fair Enforcement Mortgage Licensing Act.
c. Securitization After Funding Enforcement Act.
d. State and Federal Experience Act.

Question 19

As a broker, you must keep the "Mortgage Loan Disclosure Statement" on file for:

a. one year.
b. two years.
c. three years.
d. five years.

Question 20

Charging more than the legally allowed percentage of interest is called:

a. commingling.
b. coercion.
c. usury.
d. none of the above.

Part 3

Question 1

The Escrow Act is found in the:

a. Financial Code.
b. Mortgage Code.
c. Penal Code.
d. all of the above.

Question 2

When escrow closes:

a. separate agency changes to dual agency.
b. dual agency changes to separate agency.
c. dual agency changes to triple agency.
d. none of the above.

Question 3

An escrow holder can be:

a. a corporation.
b. an attorney.
c. a real estate broker acting as a real estate agent in the transaction.
d. all of the above.

Question 4

A statement by a lender, under a Deed of Trust, that provides information, such as the unpaid balance, monthly payment, and interest rate is referred to as a(n):

a. Payoff Demand Statement.
b. Escrow Request Statement
c. Beneficiary's Statement.
d. Loan History Statement.

Question 5

The closing date is the date the documents:

a. are drawn up.
b. are destroyed.
c. are recorded.
d. all of the above.

Question 6

The process of proportionately dividing expenses or income to the date escrow closes is called:

a. escrowing.
b. proration.
c. accounting.
d. reconciling.

Question 7

Property tax prorations are based on the amount:

a. the seller is paying.
b. the buyer is paying.
c. the agency is paying.
d. all of the above.

Question 8

The "Structural Pest Control Certification Report":

a. is a written report given by a licensed pest control company.
b. identifies any wood-destroying pests.
c. identifies conditions likely to cause pest infestation.
d. all of the above.

Question 9

Escrow reports real estate transactions to the:

a. CalBRE.
b. F.B.I.
c. I.R.S.
d. all of the above

Question 10

Condominium insurance is chosen by:

a. the managing agent.
b. the homeowner's association.
c. the buyer.
d. escrow.

Question 11

A written summary of the property's documents that evidences title is called the:

a. abstract of title.
b. absurdity of title.
c. prospectus of title.
d. prohibition of title.

Question 12

In compiling a "chain of title," a title insurance company searches the:

a. Federal Lands Office.
b. County Clerk's Office.
c. County Recorder's Office.
d. all of the above.

Question 13

Ordering a "Preliminary Title Report" is the:

a. first step in the title search.
b. second step in the title search.
c. third step in the title search.
d. final step in the title search.

Question 14

The "standard" and most common title insurance policy in California is the:

a. CLTA policy.
b. ALTA policy.
c. BLTA policy.
d. CRTA policy.

Question 15

Which of the following title insurance policies requires a survey?

a. CLTA
b. ALTA
c. Both a and b
d. None of the above

Question 16

No title insurance protects against:

a. a document not properly signed.
b. unmarketability of title.
c. zoning changes.
d. defective delivery of a document.

Question 17

The "R" in the ALTA-R policy R indicates the policy is:

a. Regulatory.
b. Residential.
c. Required.
d. Refundable.

Question 18

The "Real Estate Settlement Procedures Act" requires that the settlement statement must be delivered:

a. as soon as possible.
b. within three business days after the close of escrow.
c. within three business days after the opening of escrow.
d. on or before the date of settlement, at no charge.

Question 19

The "Real Estate Settlement Procedures Act" allows the buyer to request the settlement statement:

a. whenever he or she wants to.
b. one business day before closing.
c. one week before closing.
d. ten business days before closing.

Question 20

The ¨Real Estate Settlement Procedures Act¨:

a. covers first loans on one-to-four unit residential dwellings.
b. has disclosure requirements for federally related lenders.
c. is abreviated as RESPA.
d. all of the above.

Part 4

Question 1

Who is the county officer who has the responsibility of determining the assessed valuation of land, improvements, and personal property used in business?

a. The county appraiser.
b. The county assessor.
c. The county tax collector.
d. The county revenue bureau.

Question 2

Anything that increases the usefulness of the structure, such as the addition of a bedroom or bathroom, is an example of:

a. a taxable alteration.
b. new construction.
c. routine upgrade.
d. reconstruction.

Question 3

A "rough" estimate of property tax is approximately:

a. 1.00 percent of the sales price.
b. 1.25 percent of the sales price.
c. 1.50 percent of the sales price.
d. 2.00 percent of the sales price.

Question 4

In California, the annual property tax increase is limited to:

a. 1.00 percent.
b. 1.50 percent.
c. 2.00 percent.
d. 3.00 percent.

Question 5

Escrow prorates property taxes using a(n):

a. CalBRE chart.
b. estimate provided by the county in which the property is located.
c. amount agreed to by the lender.
d. using the seller's tax bill.

Question 6

The primary responsibility for disclosure of any Mello-Roos bonds lies with:

a. the seller.
b. the county.
c. the buyer's broker.
d. escrow.

Question 7

Which of the following can be deducted from personal taxes?

a. Interest paid on personal residence
b. Property taxes on a personal residence
c. Prepayment penalties paid on a personal residence
d. All of the above

Question 8

Which of the following can be depreciated for tax purposes?

a. Only the buildings or other improvements on income, trade or business property
b. Only the buildings or other improvements on residential property
c. The land and the buildings on residential property
d. The land and the buildings on income, trade or business property

Question 9

Income tax rates are an example of:

a. regressive taxes.
b. progressive taxes.
c. both a and b.
d. none of the above.

Question 10

Taxes where the rates increase as the amount to be taxed increases are an example of:

a. adjusted rate taxes.
b. wealth redistribution taxes.
c. progressive taxes.
d. regressive taxes.

Question 11

The sales of real estate in which the payments for the property extend over more than one calendar year is a(n):

a. commercial sale.
b. installment sale.
c. adjusted sale.
d. all of the above.

Question 12

In a 1031 exchange, boot is defined as:

a. cash or mortgage relief.
b. illegal tax evasion.
c. free money.
d. none of the above.

Question 13

Inventory of properties held primarily for sale to customers is referred to as:

a. dealer property.
b. hidden property.
c. deferred property.
d. all of the above.

Question 14

Which of the following does NOT qualify for tax-free exchange?

a. Investment property
b. Business property
c. Dealer property
d. Income property

Question 15

Under IRS Section 1031, any real property held for investment that can be exchanged for another investment property is referred to as:

a. boot.
b. fair-trade property.
c. like-kind property.
d. exchange property.

Question 16

Taxes that use the same rate no matter how much is earned are referred to as:

a. repressive taxes.
b. regressive taxes.
c. marginal taxes.
d. progressive taxes.

Question 17

An example of a regressive tax is the:

a. federal income tax.
b. state income tax.
c. sales tax.
d. all of the above.

Question 18

The broker does not have to see that 10 percent of the sales price is held in escrow if:

a. the property is nonresidential.
b. the residential property is less than $300,000.
c. the seller signs an affidavit of nonforeign status.
d. all of the above.

Question 19

Which of the following is a factor in classifying a broker as a dealer?

a. Frequency of sales
b. Dollar volume
c. Subdivision activity
d. All of the above

Question 20

If the seller is a foreigner or resident of another state, California tax collection requirements put the burden on:

a. the seller.
b. the buyer.
c. both a and b.
d. none of the above.

Part 5

Question 1

The number one objective for investing in real estate is:

a. to keep busy.

b. to make money.

c. to save the environment.

d. none of the above.

Question 2

Commercial banks make the majority of their funds available for

a. high interest loans.

b. short term loans.

c. credit cards, automobile and construction loans.

d. all of the above.

Question 3

In buying income-producing property, greater emphasis is placed on:

a. financial benefits.

b. sentimental attachments.

c. aesthetics.

d. political climate.

Question 4

The total gross income a property is capable of producing at full occupancy, without any deductions for expenses is:

a. probable gross income.

b. potential gross income.

c. present gross income.

d. all of the above.

Question 5

Operating expenses DO NOT include:

a. loan payments.

b. depreciation allowances.

c. income tax provisions.

d. all of the above.

Question 6

Which of the following is a category of operating expenses for appraisal purposes?

a. Fixed expenses

b. Variable expenses

c. Reserves for replacement

d. All of the above

Question 7

Which of the following are operating expenses that DO vary?

a. Utility costs

b. Property management fees

c. Cleaning and maintenance fees

d. All of the above

Question 8

A Subchapter S Corporation is taxed:

a. only once.

b. twice.
c. unlimited times.

d. none of the above.

Question 9

The most preferred form of legal organization is:

a. general partnership.

b. limited partnership.

c. unlimited partnership.

d. none of the above

Question 10

REIT stands for:

a. Real Estate Investment Trust.

b. Real Estate Interim Trust.

c. Real Equity Interest Trust.

d. none of the above.

Question 11

A business opportunity sale can include:

a. the sale of a business.

b. the lease of a business.

c. the goodwill of a business.

d. all of the above.

Question 12

In a bulk sale, the transferee refers to the:

a. seller.

b. buyer.

c. broker.

d. none of the above.

Question 13

Which of the following is filed with the Secretary of State in California?

a. The Financing Statement

b. The Security Agreement

c. Both a and b

d. None of the above

Question 14

A seller's permit is secured from the:

a. State Board of Equality.

b. State Board of Equalization.

c. Federal Board of Real Estate Sales.

d. all of the above.

Question 15

The bill of sale serves the same function in the transfer of personal property as:

a. the grant deed does for real property.

b. the grant deed does for personal property.

c. the lease does for real property.

d. none of the above.

Question 16

An agreement where the seller of a business agrees to not open a competing business for a period of time within a specific geographical area is referred to as:

a. an agreement to recluse oneself.

b. an agreement to withdraw.

c. A covenant not to compete.

d. none of the above.

Question 17

The term RPSD stands for:

a. Real Property Securities Dealer.

b. Real Property Substandard Department

c. Real Property Securities Division.

d. none of the above.

Question 18

Before selling real property securities to the public, the broker must obtain a permit from the:

a. Governor.

b. California Bureau of Real Estate.

c. State Franchise Board.

d. all of the above.

Question 19

A syndicate can be a:

a. corporation.

b. partnership.

c. trust.

d. all of the above.

Question 20

The broker's broker or consultant is one way to describe the:

a. Real Estate Investment Counselor.

b. Real Estate Commissioner.

c. Escrow Officer.

d. none of the above.

Part 6

Question 1

The Unruh Civil Rights Act is a:

a. California act.
b. federal act.
c. city act.
d. none of the above.

Question 2

The California Act that prohibited steering and blockbusting was the:

a. Unruh Corporations Act.
b. Unruh Civil Rights Act.
c. Civil Rights Act of 1900.
d. none of the above.

Question 3

The refusal of a loan or insurance based upon a property's location (zip code) is called:

a. bluelining.
b. redlining.
c. yellowlining.
d. greenlining.

Question 4

If an agent is asked to discriminate in the sale of a property, the agent:

a. must refuse the listing.
b. must take the listing.
c. has the option of taking the listing.
d. can take the listing only with permission from the CalBRE.

Question 5

Besides residential, the basic types of income-producing properties include:

a. commercial office buildings.
b. retail property.
c. industrial property.
d. all of the above.

Question 6

Licensed real estate brokers who represent more than one owner in managing more than one property are referred to as:

a. multiline brokers.
b. building superintendents,
c. outside managers.
d. real estate managers.

Question 7

The most profitable, physically possible, and legally permissible use for a property is described as:

a. zoning compliance.
b. "highest and best use.
c. net operating income.
d. capitalization rate.

Question 8

A notice that the tenant has 3 business days to pay all past due rents or vacate the property and face unlawful detainer is called a:

a. Three day Notice to Pay Rent or Quit.
b. Pay or Move Notice.
c. Summons.
d. Notice of Pending Eviction.

Question 9

Any rental agreement that ends over one year from the date of signing:

a. should be in writing.
b. must be in writing.
c. must be notarized.
d. must be recorded.

Question 10

Residential property is usually rented under the terms of a:

a. single net lease.
b. percentage lease.
c. gross lease.
d. triple net lease.

Question 11

Ultimately, who is responsible for the management of an HOA?

a. The management company
b. The board of directors
c. Individual owners
d. The Governor

Question 12

A person who, or entity that for compensation or in expectation of compensation, exercises control over the assets of a common interest development is referred to as the:

a. managing agent.
b. board president.
c. facilities director.
d. project superintendent.

Question 13

As a property manager, your responsibilities will include:

a. maintenance of the building.
b. caring for mechanical equipment.
c. planning and implementing a modernization program.
d. all of the above.

Question 14

Delaying the fixing of existing repairs is called:

a. smart management.
b. deferred maintenance.
c. denied maintenance.
d. debilitating management.

Question 15

By California law, no governmental agency can adopt any rent control restrictions on:

a. retail property.
b. commercial office property.
c. industrial property.
d. all of the above.

Question 16

"Section 8" refers to:

a. high-income housing.
b. medium-income housing.
c. low-income housing.
d. free housing.

Question 17

A professional association for property managers that is a division of the National Association of REALTORS® (NAR) is:

a. the Association of Property Managers (APM).
b. the Institute of Real Estate Management (IREM).
c. the Nationwide Managers Association (NMA).
d. the Professional Property Managers Guild (PPMG).

Question 18

The designation "CPM" refers to:

a. Certified Property Manager.
b. California Property Manager.
c. Certified Public Manager.
d. none of the above.

Question 19

The designation AMO refers to:

a. Accredited Management Organization.
b. Accounting Management Organization.
c. American Merchant Organization.
d. none of the above.

Question 20

CALGreen is:

a. a drought resistant brand of grass.
b. the short name for the "California Green Building Standards Code."
c. the official color for all California park maintenance vehicles.
d. none of the above.

Part 7

Question 1

Real estate assistants:

a. are licensed.
b. must be licensed.
c. may be unlicensed.
d. both a and c.

Question 2

Which of the following should be listed on a real estate assistant's resume?

a. Real estate background
b. Education
c. Skills
d. All of the above

Question 3

A basic knowledge of computer use is:

a. mandatory.
b. helpful.
c. not needed if working part time.
d. only useful if unlicensed.

Question 4

A person who works regular hours set by an employer and is paid a regular or hourly wage is a(n)

a. sole proprietor.
b. employee.
c. independent contractor.
d. none of the above.

Question 5

A person who works with a minimum of supervision, pays his or her own taxes, and in general, sets his or her own schedule is:

a. considered management.
b. an employee.
c. an independent contractor.
d. retired.

Question 6

Any document that has both buyer's and seller's signatures is referred to as a(n)

a. shared document.
b. master document.
c. escrowed document.
d. trust file document.

Question 7

All the documents a broker may require on a single completed transaction are contained in a:

a. master transaction file.
b. subfile.
c. miniature file.
d. temporary file.

Question 8

Which of the following is a filing system you might find in real estate office?

a. Alphabetic system
b. Shared document
c. Computer files
d. All of the above

Question 9

An alphabetical list of topics is called a(n):

a. conduit.
b. index.
c. resume.
d. all of the above.

Question 10

A paper file containing signed copies and originals of documents, in addition to the computer file, should be kept for each transaction:

a. for legal reasons.
b. in case of a computer crash.
c. due to most office policies.
d. all of the above.

Question 11

A client's computer file should include:

a. e-mails sent and received.
b. letters.
c. spreadsheets.
d. all of the above.

Question 12

Prepared packets that agents take on listing and selling appointments contain:

a. forms.
b. brochures.
c. electronic presentations.
d. all of the above.

Question 13

The first picture or video of a listing uploaded onto most Multiple Listing Services:

a. must show the address.
b. must be of the front of the house.
c. cannot show the address.
d. must have the broker's sign visible.

Question 14

Who has access to a full MLS listing?

a. Only real estate brokers
b. Only agents representing pre-approved buyers
c. Only MLS members
d. All of the above

Question 15

Smartphones and tablets allow agents who are away from their office to search the MLS by:

a. price.
b. city.
c. address.
d. all of the above.

Question 16

Mobile devices, programmed with the appropriate real estate software, can double up as a(n):

a. calculator.
b. programmer that opens up lockboxes.
c. appoint book.
d. all of the above.

Question 17

A public official whose main powers include administering oaths and arresting to signatures is called:

a. a notary public.
b. a court reporter
c. a public clerk.
d. the Secretary of State.

Question 18

Each person who signs the notarized document must place a:

a. right thumb print in the notary's journal.
b. left thumb print in the notary's journal.
c. right index finger print in the notary's journal.
d. left index finger print in the notary's journal.

Question 19

Real estate assistants assist with escrows:

a. by finding out if all documents have been returned to escrow.
b. by finding out if all contingencies have been removed.
c. by finding out if all conditions have been met.
d. all of the above.

Question 20

When escrow closes:

a. The listing needs to be removed from the MLS.
b. The file needs to have all documents put in chronological order.
c. The broker or office manager must review the file to make sure all pertinent documents have been initialed before the file is placed in the master file cabinet.
d. All of the above.

Part 8

Question 1

Every state government regulates its own real estate brokerage activities by staff members who are collectively referred to as:

a. registrants.
b. regulators.
c. representatives.
d. respondents.

Question 2

Police power deals with:

a. health.
b. safety.
c. morals.
d. all of the above.

Question 3

Any person who is actively involved in a real estate transaction at the service of another, in the expectation of receiving a commission, must be:

a. licensed.
b. married.
c. American born.
d. bonded.

4, An individual who is not a real estate salesperson or broker may solicit for the sale of real property as long as he or she is:

a. the owner or holding power of attorney for the owner.
b. a receiver or court appointee.
c. a trustee, selling under a deed of trust.
d. all of the above.

Question 4

A candidate must be how old to obtain a real estate license?

a. 15 years old
b. 18 years old
c. 21 years old
d. 35 years old

Question 5

The salesperson exam takes:

a. fifteen hours, three minutes.
b. three hours, fifteen minutes.
c. five hours, ten minutes.
d. half an hour tops.

Question 6

To pass the salesperson examination, you must get:

a. 30% correct.
b. 50% correct.
c. 70% correct.
d. 100% correct.

Question 7

In order to be permitted to take the state real estate exam, an examinee must present a(n):

a. acceptable picture ID.
b. printed test date notice.
c. validated health screening card.
d. both a and b.

Question 8

If you take an electronic examination, your results will be:

a. provided to you upon completion of the exam.
b. e-mailed to you within 48 hours.
c. e-mailed to you within 3 business days.
d. mailed to upon receipt of your written request and a self-addressed, stamped envelope.

Question 9

Qualified candidates who pass their electronic exam:

a. will be entered in a drawing for lunch date with the real estate commissioner.
b. can be issued a temporary license and begin conducting licensed activities immediately.
c. will receive a gift card to Office Depot.
d. will receive a coupon good for $100,00 towards their first year dues to a board of REALTORS.

Question 10

The CalBRE fee for the original salesperson examination is:

a. $15.00.
b. $30.00.
c. $60.00.
d. $95.00.

Question 11

The CalBRE fee for 4 year salesperson license is:

a. $175.00. b. $245.00. c. $300.00. d. $395.00.

Question 12

The portion of the Business and Professions code that refers to licensing and subdivisions is called:

a. the Commissioner's Regulations.
b. the California Real Estate Law.
c. the Realty Civil Code.
d. Real Estate Ethics.

Question 13

The Real Estate Commissioner is:

a. elected.
b. appointed by the State Legislature.
c. appointed by the President.
d. appointed by the Governor.

Question 14

The Real Estate Commissioner is defended by:

a. the state Attorney General.
b. private counsel who is paid for by the state.
c. the designated public defender.
d. the president of the California Bar Association.

Question 15

After a license is revoked, that licensee cannot apply for reinstatement until after:

a. one year has passed.
b. two years have passed.
c. ten years have passed.
d. there is no reinstatement.

Question 16

Regulations of the Real Estate Commissioner can be found in:

a. the NAR Code of Ethics.
b. the California Civil Code.
c. the CalBRE publication Real Estate Law.
d. The Business and Professions Code.

Question 17

The NAR mandates that every member must take a course studying the NAR Code of Ethics or risk the loss of membership:

a. within 6 months of becoming a member.
b. within 18 months of becoming a member.
c. every four years.
d. every time they are convicted of a violation by the CalBRE.

Question 18

Every REALTOR® must swear to abide by:

a. the Constitution of the United States.
b. the Magna Carta.
c. their conscience.
d. the NAR Code of Ethics.

Question 19

A document that spells out the company's ethical and professional expectations and requirements, including a mission statement, personnel policies, and general procedures is called:

a. an Office Policy Manual.
b. a Company Constitution.
c. a Company Magna Carta.
d. Company Guidelines.

Question 20

A document that spells out the company's ethical and professional expectations and requirements, including a mission statement, personnel policies, and general procedures is called:

a. a Company Constitution
b. a Company Magna Carta.
c. Company Guidelines.
d. an Office Policy Manual.