Economy

today:
440
yesterday:
450
Total:
1,585,926

Real Estate

TEST 12

admin 2019.03.06 19:51 Views : 476

1 of 10 - Jeremy, a licensee, witnesses Patti, another licensee, involved in behavior that is questionable. Jeremy learns Patti's client is also willfully involved in the indiscretions. What action, if any, should Jeremy take?
Jeremy need not take any action. As long as he is not involved in the questionable behavior, he is not obligated to do a thing.
 
Jeremy is obligated to speak to the authorities and report what he has witnessed. If he is unsure a crime has been committed, he should obtain legal advice.
Jeremy must report all indiscretions to the Department of Real Estate. He is not obligated to report the client's behavior.
None of the above.
You answered correctly
2 of 10 - The Commissioner discovers in an audit commingling of trust accounts by a licensee. At what amount does the court issue a restraining order against the licensee?
In excess of $50,000
In excess of $100,000
In excess of $30,000
 
In excess of $10,000
You answered correctly
3 of 10 - The designation "grand theft" is used in relation to the theft of:
Certain farm crops or animals, personal and real property with value of less than $950.
Automobiles and other personal property valued over $950.
Money, labor, real and personal property that exceeds a value of $950.
 
Both B and C
You answered correctly
4 of 10 - Jason has approached Sam about purchasing an acre of property that adjoins Jason's backyard. Sam has explained to Jason on numerous occasions that he is not interested in selling. Jason has resorted to telling Sam if he doesn't sell the land, he'll contact the authorities and accuse him of dealing drugs out of his home. Which Penal Code Section addresses this crime?
PC 502.5
 
PC 518, 519
PC 532a
 
PC 484b-c
You answered incorrectly
California Penal Code Sections 518, 519 addresses obtaining property from another by threatening to accuse that person of a crime or to expose his or her secrets.
5 of 10 - Greg, a licensee, fails to have his client sign off on the purchaser's counteroffer. Greg's client verbally approves the new terms, but Greg failed to obtain his signature. The deadline for signing the counteroffer is in one hour. Greg decides to sign his client's name. Which Penal Code Section addresses this crime, if it is a crime?
 
PC 470, 473
PC 532a
PC504b
It is not a crime.
You answered correctly
6 of 10 - ABC Mortgage Company accepts a bribe from a licensee in exchange for approving mortgages for all of his clients. Which Penal Code Section addresses this crime?
PC 556-556.2
 
PC 639-639a
 
PC 830.1
It is not a crime.
You answered incorrectly
California Penal Code Sections 639-639a addresses bribery of a lender to obtain credit or the acceptance of such bribery.
7 of 10 - A corporation is found guilty of charging purchasers advanced fees for securing mortgage loans on homes they have listed. What is the punishment for the violation?
 
A fine up to a maximum of $50,000.
A fine up to a maximum of $10,000, with up to six months of prison time, or a combination of both.
A restraining order issued against the corporation protecting clients and restitution and/or damages paid.
None of the above.
You answered correctly
8 of 10 - The 1943 case People v. Sipper held what decision?
 
The selection and preparation of a mortgage or deed by a broker, in which a fee was charged, constituted the unlawful practice of law.
 
The real estate agent should guard well the privilege of practicing real estate while avoiding stepping over the line of practicing law.
A real estate profession has limited legal authority as a licensee.
The real estate licensee could face losing his real estate license for improper behavior.
You answered incorrectly
The California District Court of Appeal, in the 1943 case of People v. Sipper, held that the practice of law is not simply performing court appearances for another party, but that the larger definition of “to practice law” also includes giving legal advice and counsel and preparing legal instruments by which legal rights are secured. In People v. Sipper, it was held that the selection and preparation of a mortgage or deed of trust by a broker in an independent loan transaction, in which the broker charged a fee, constituted the unlawful practice of law, even though only one transaction was involved.
9 of 10 - Max, a licensee, accepts a bribe from ABC Title Company for referring clients. What is Max's possible punishment?
Max could be fined up to $50,000 and up to six months of prison time.
Max could be fined a maximum of $10,000.
 
Max could go to prison and/or be fined $10,000 for each illegal transaction.
Max may have to pay restitution to those who provided the bribe.
You answered correctly
10 of 10 - The Real Estate Commissioner has the authority to perform all of the following actions except:
Hold formal hearings to decide issues involving a licensee or licensee applicant.
 
Hold interest in a real estate company or brokerage firm.
Regulate and control the issuance and revocation of all licenses issued under California law.
 
Adopt, amend, or repeal rules and regulations for the enforcement of the laws.
You answered incorrectly
The Commissioner may not hold interest in a real estate company or any real estate brokerage firm as director, stockholder, officer, member, agent, or employee or act as a broker or salesman, or act as a copartner or agent for any broker or brokers, salesman, or salesmen.

I want to
List
Write Tag