which of the following is not true of the real estate commissioner

B. average total cost. d. agreement of the parties. Total depreciation from all causes is $7,000. Broker Sam appoints agent Greg to represent the buyer in a transaction to the exclusion of all the other agents in the firm. A lender offers an investor a maximum 85% LTV loan on the appraised value of a property. 25. 27. 6 of 50 - Anne obtains a new loan @ 80% of her home's price of $740,000. \text { Panasonic } & 8.7 \\ The storage unit was getting full, so the broker disposed of the files that were four or more years old. c) comprised of 6 members appointed by the governor and confirmed by the Senate. A loan primarily for personal, family, or household use that is secured by a mortgage, deed of trust, or other equivalent consensual security interest on a dwelling or on residential real estate is a. Fax: (804) 541-2207. The words "prestigious" and "young couple" indicate a preference for a certain class of person. 15. \hline \text { Company } & \text { Percent } \\ 88. 11. 14 of 50 - Broker Keller has a listing on Franklin Avenue. have two years real work experience in the last five years or a bachelor's degree with a major or minor in real estate. $('.phonefield-us','#mc_embed_signup').each( negative symptoms. While the Real Estate Law, in Section of 10131 of the Code, then goes on to describe a The following information refers to the purchase and installation of this equipment: Instructions An applicant who fails to take the exam will have his or her fee refunded within 30 days. Have keys made for company listings. 24. Phillip advised his clients they needed to paint their master bedroom before showing the property. var fields = new Array(); Which of the following does NOT require a real estate license? return; A The real estate salesperson's accountant. $1.$ Compute the break-even point for Plan A and Plan B. fields[i] = this; She figures agents charge a 6% commission, and that closing costs will be an additional $1,200. 30 of 50 - Which of the following is NOT true about the license exam? GREC is the regulatory body responsible for regulating the brokerage industry and licensing real estate practitioners. The property was sold, and closing took place on March 7. Chart has become too cluttered ( i.e., are you displaying too many slices ) good of citizens under! the name and telephone number of the licensee's firm. All agency agreements must have definite expiration dates. E. marginal cost. }); What is purpose of the Commission's rules and regulations? Real property managers. a) Collects rents or assessments for another for compensation, 12. Broker James' qualifying broker at his old firm must sign transfer documents and return James' license to the Commission. $('#mce-success-response').hide(); One responsibility of a Commission member is to. Real Estate Commissioner at special hearings. Residence: If you are not a California resident, see Out-of-State Applicants. The Georgia Real Estate Commission's authority involves. if (parts[1]==undefined){ Carol has a job at local hotel managing reservations. Tyler's taxable income from this property will be taxed at a rate of 25%. Laura must advertise the property under her broker's name. 10 days after the expiration of the listing. } // ]]>, Prices are in USD. An applicant who fails to take the exam will have his or her fee refunded within 30 days. 6 32 Real Estate Licensing Applying for license All applicants must obtain and submit criminal history reports. Each appointment by the governor is submitted to the Senate for confirmation: One member is appointed from each of the seven Supreme Court districts. Question: Under California law, the Real Estate Commissioner has authority to do which of the following: A: Impose fines on any real estate licensee who is convicted of fraudulent activities; B: Revoke an unrestricted license without a hearing; C: Promulgate rules and regulations to enforce the California real estate laws; D: Do all of the above. '; Laura's broker must give permission for Laura to handle the sale herself. Which of the following is true concerning the Real Estate Commissioner? The Mello-Roos Disclosure requires notice regarding: b. special taxes for public facilities and services. Which of the following is NOT true about trust accounting systems? 30. a. an agreement between two or more parties based on legal consideration to do, or refrain from doing, some lawful act, the performance of which is a duty under law types of contracts 1. bilateral 2. unilateral 3.expressed 4.implied Unilateral contract one sided, obligates only one party to perform. The loan constant is 5.645. Foreign Investment in Real Property Act requires sellers to fill out a Seller's Affidavit of Nonforeign Status and/or California Withholding Exemption. She can if she also includes the interest rate specified in the note and the amount of the discount from the original principal balance. msg = parts[1]; Department of Real Estate, Education and Research Section P.O. OriginalcostEstimatedsalvagevalueEstimatedusefullifeMACRSpropertyclass$24,000.00$3,000.005yearsor16,000hours5-yearProductionHours2012,8802023,2202033,1502042,800. 72. yfory=ln(2x6+ex)y^\prime\quad\text{for}\quad y=\ln(2x^6+e^x) mce_preload_checks++; Supervision Responsibility Whatever the type of license held, real estate licensees must know and comply with all aspects of Real Estate Law that govern licensed real estate conduct in California. The listing broker and selling broker agree to share the commission equally. Formed in 1910, the Association now counts as the state's largest professional trade organization, with more than 33,000 members. c. withdrawal. 3.15.2 Powers Of The Town Council A Town Council may: (a) with the prior written consent of the Board . index = parts[0]; $$ Was the sale commercially reasonable? . Which of the following is NOT among the powers and duties of the Health Insurance Commissioner? If the investor pays $160,000 for the property how much will the investor have to pay as a down payment? Which of the following is true concerning a Mortgage Loan Originator (MLO) License? Fixed costs total$162,000, and variable costs are $36 per unit. Kathy works as an assistant to Broker Sam. One responsibility of a Commission member is to. A buyer comes in to get information about the listing. A contract becomes binding between the seller and the buyer when the: a. buyer signs the counteroffer. 25 of 50 - Which of the following is NOT true about trust accounting systems? The Commission will charge a fee of $25 for all EXCEPT which one of the following? 22. False Reading and reference materials are provided online. In order to receive compensation, the transaction brokerage agreement must be in writing. Keller can discuss all of the following items EXCEPT which? The listing broker is always responsible for depositing earnest money. To earn a commission, a broker must produce a buyer who is: a. ready. An escrow company may be licensed by the: 84. Please note that CE course submissions require 90 days for review and Pre-license/Statutory course submissions require 60 days for review. What can you say about the risk associated with these firms? 39 of 50 - A designated agent can disclose confidential information about a client to, The employing broker if the agent needs advice. The listing belongs to the firm, and will remain with Firm A. Betty is selling her house and put the information in the MLS. Any examination to qualify for any license issued under authority of the Real Estate . For Sale By Owner Bosque Farms, Nm, DEPARTMENT OF REAL ESTATE . Present an acceptable picture ID Recovery fund compensation, the Commission to examine the firm estimate property?, it is so large it competes with: a. land sales contracts files on a licensee firm License may lapse for nonpayment of fees or failure to complete certain educational requirements within the time allowed by Commission! _____ power is the ability to pass laws for the general good of citizens. function(){ Arizona Real Estate Law states that the Real Estate Commissioner may do each of the following EXCEPT A. This is called: 37. a. Box 187000 Sacramento, CA 95818-7000 w N FILE Telephone : (916) 227-0789 . Associated with these firms are not regulated by the escrow holder and return James ' qualifying broker for another.. //

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