California Real Estate Exam 91 Questions And Answers Set 02
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Terms in this set
91
Purpose of CalBRE
The California Bureau of Real Estate (CalBRE) protects the public through the enforcement of laws and requirements for salespersons' and brokers' real estate licenses.
The California Real Estate Commissioner
The California Real Estate Commissioner has the authority to investigate the actions of any person engaged in the business of a licensee in California, and has the power to deny, suspend or revoke the real estate license.
Original Real Estate Salesperson License Requirements
A candidate for an original real estate salesperson license must be at least 18 years old; pass a written examination; provide Proof of Legal Presence in the United States and disclose any criminal violation or disciplinary action.
Applicants who seek to obtain a 4-year salesperson license must complete the college-level Real Estate Principles course, the Real Estate Practice course, and one additional required college-level course.
Applicants who seek to obtain a 4-year salesperson license must complete the college-level Real Estate Principles course, the Real Estate Practice course, and one additional required college-level course.
Real Estate Broker License Requirements
The applicant for an original real estate broker license must be at least 18 years old; actively engaged as a real estate salesperson for at least two years during the five years immediately preceding the application; have completed eight courses (five mandatory and three elective courses).
Can a corporation be licensed as a RE broker?
A corporation may be licensed as a real estate broker, if one officer is a qualified real estate broker, who must submit a Corporation License Application and its fee.
Can corporations do business as FBN's or DBAs?
Some corporations may do business under several fictitious business names ("dba"). Applications for changes in name, salespersons and location must be officially submitted.
Renewal Requirements
All renewal applicants, including salespersons, must complete a total of 45 hours of approved offerings within the four-year period immediately preceding license renewal.
The license may be renewed within two years from expiration. Later than that, one needs to re-qualify through the examination process.
The license may be renewed within two years from expiration. Later than that, one needs to re-qualify through the examination process.
Revoked license reinstatement
After a license is revoked, the person affected may not apply for reinstatement of the license until one year has passed.
Non-Working Status
Non-Working Status: a salesperson may hold a license, but NOT perform acts requiring a license.
Brokers and Salesperson licenses must be displayed where?
For main offices located in California, the broker's and salespersons licenses' must be available for inspection and changes in the main office address must be forwarded in a written notice (the change may be corrected in the certificate itself). For branch offices in California, a license is required for each additional business location.