California Real Estate Principles: Real Estate Law and Authorities in California Correct and Verified Answers Graded A

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California Real Estate Principles: Real

Estate Law and Authorities in California Correct and Verified Answers Graded A

• How many members of the advisory commission are licensed brokers?
• Four
• Six
• Eight
• Ten

Correct Answer: B. Six

• How are members selected to serve on the Real Estate Advisory Commission?
• They are appointed by the governor
• They are appointed by the Real Estate Commissioner
• They are elected by former Real Estate Advisory Commission members
• They are elected in a public election

Correct Answer: B. They are appointed by the Real Estate Commissioner

• The commissioner must be a practicing real estate broker with 10 years' experience.
• True
• False

Correct Answer: B. False

• What does the Real Estate Commissioner do?
• Connects consumers with real estate licensees
• Determines real estate policy and issues regulations to enforce law
• Issues mortgage loan originator endorsements to real estate licensees
• Values real property in California

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Correct Answer: B. Determines real estate policy and issues regulations to enforce law

• The Commissioner is elected by the public.
• True
• False

Correct Answer: B. False

• The commissioner serves as CEO of California DRE.
• True
• False

Correct Answer: A. True

• Which of these describes the composition of the California Department of Real

Estate Advisory Commission?

• Eight members, seven of whom are unlicensed consumers and one who is a licensed

real estate broker

• Six members, all of whom must be real estate brokers with at least five years of

experience

• Ten members, six of whom are real estate brokers and four who are unlicensed

consumers

• Twelve members, six of whom are real estate brokers and six who are unlicensed

consumers Correct Answer: C. Ten members, six of whom are real estate brokers and four who are unlicensed consumers

• The commissioner issues regulations to enforce law.
• True
• False

Correct Answer: A. True

• How many members on the Real Estate Advisory Commission are unlicensed

consumers?

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• Eight
• Four
• Six
• Ten

Correct Answer: B. Four

• The commissioner is compensated for serving as Commissioner.
• True
• False

Correct Answer: A. True

• How many unlicensed consumers serve on the commission?
• Four
• Six
• Eight
• Ten

Correct Answer: A. Four

• How many people make up the advisory commission?
• Four
• Six
• Eight
• Ten

Correct Answer: D. Ten

• Advisory Commission Members are elected by the public.
• True
• False

Correct Answer: B. False

• Advisory Commission Members are compensated for serving on the commission.

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• True
• False

Correct Answer: B. False

• Advisory Commission Members discuss policy and make recommendations to the

Commissioner.

• True
• False

Correct Answer: A. True

• Which two statements are true about real estate law in California?
• The purpose of the Regulations of the Real Estate Commissioner is to protect real estate

licensees.

• The purpose of the real estate law is to protect public safety.
• Licensees must follow both the real estate law in the Business and Professions Code

and the Regulations of the Real Estate Commission.

• Anyone involved in a real estate transaction in California is required to follow real estate

law.

Correct Answers: B and C