California Law Quiz Explanations
Wrong!
1. A real
estate broker in California must retain copies of all listings, deposit slips,
canceled checks, trust records, and other documents executed by him or her or
obtained by him or her in connection with any transactions requiring a real
estate license, for a period of 3 years. Brokers may be audited to insure
compliance with this requirement.
WRONG!!!
2. Fees for
credit reports, as well as appraisal fees, are considered trust funds. No trust money may be deposited into the
broker’s general account. Mixing ANY
trust funds with business or personal funds would be commingling.
WRONG!!!
3. The license
certificate of a real estate salesperson licensee must be retained at the main
business office of the salesperson’s broker.
WRONG!
4. A real estate agent in California may not use marital status as a
basis for soliciting business. If the
agent tried to get listings or tried to get homeowners to sell their houses by
using scare tactics based on race, color, sex, religion, ancestry, national
origin or marital status, they would be guilty of panic selling. Also, an agent may not try to discourage
anyone from moving into an area based on the same groups of people, including
marital status.
5. Physical handicap is a protected category in
California, but Tammy would not have to show ALL houses that a handicapped
individual requests seeing. If
hazardous conditions or architectural barriers to the handicapped individual
are present, which conform to applicable state and local building codes and
regulations, Tammy would not be considered to be discriminating if she failed
to show, or even refused to show those properties to the handicapped
individual. An agent should be certain,
however, that they understand what constitutes a hazardous condition or
architectural barrier in the area they are working in. Tammy may NOT use the physical handicap as a
criterion for selecting a neighborhood.
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