CA Real Estate Real Estate Practice and Ethics 2

Question 1

The California Real Estate Commissioner is appointed by whom?

Accepted Answer

The Governor of California

Answer

The California Real Estate Commissioner is appointed by the Governor to head the California Department of Real Estate.

Question 2

Which organization enforces California's Real Estate Law and issues licenses?

Accepted Answer

California Department of Real Estate (DRE)

Answer

The California Department of Real Estate (DRE) is the state agency that licenses and regulates real estate professionals.

Question 3

A real estate salesperson's license in California is valid for how long?

Accepted Answer

4 years

Answer

California real estate salesperson and broker licenses are issued for a four-year term and require continuing education for renewal.

Question 4

What is the purpose of the California Real Estate Recovery Fund?

Accepted Answer

To compensate victims who suffer financial loss due to a licensee's fraud or misrepresentation

Answer

The Recovery Fund compensates consumers who obtain a court judgment against a licensee for fraud, misrepresentation, or deceit.

Question 5

Which of the following actions would most likely result in the revocation of a real estate license in California?

Accepted Answer

Commingling client funds with personal funds

Answer

Commingling client funds with personal or business funds is a serious violation that can result in license revocation in California.

CA Real Estate - California Real Estate Exam Practice Test