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Questions and Answers
What department is the California Department of Real Estate a part of?
What department is the California Department of Real Estate a part of?
- Corporation Commission
- Fish and Game Commission
- Business and Transportation Agency (correct)
- Fair Housing Commission
What is required to be appointed as Real Estate Commissioner?
What is required to be appointed as Real Estate Commissioner?
- Ten years as a deputy commissioner
- Five years active participation in real estate as a broker
- Ten years of experience in any business sector (correct)
- Five years related experience with California real estate within the prior 10 years
Who has the final decision on policy implementation by the Department of Real Estate?
Who has the final decision on policy implementation by the Department of Real Estate?
- Deputy Director of the DRE
- Department of Corporations
- Real Estate Commissioner (correct)
- Real Estate Commission
Hearings for denial, revocation, or suspension of a real estate license must comply with which act?
Hearings for denial, revocation, or suspension of a real estate license must comply with which act?
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After an accusation, what rights does the accused have?
After an accusation, what rights does the accused have?
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What is the maximum liability of the recovery fund regarding a single action?
What is the maximum liability of the recovery fund regarding a single action?
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What is the main purpose of real estate licensing?
What is the main purpose of real estate licensing?
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Which body oversees the hearings related to denial, revocation, or suspension of a real estate license?
Which body oversees the hearings related to denial, revocation, or suspension of a real estate license?
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What is the primary reason for the establishment of real estate licensing?
What is the primary reason for the establishment of real estate licensing?
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What is the liability limit of the recovery fund for a single action?
What is the liability limit of the recovery fund for a single action?
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Study Notes
California Department of Real Estate
- The California Department of Real Estate operates under the Business and Transportation Agency.
Real Estate Commissioner Requirements
- Appointment as Real Estate Commissioner necessitates either five years of active participation as a broker or five years of related experience in California real estate within the last ten years.
Policy Implementation
- The Real Estate Commissioner has the final authority on policy implementation within the Department of Real Estate.
Licensing Hearings
- Hearings regarding denial, revocation, or suspension of real estate licenses must comply with the Administrative Procedures Act.
Accusation Rights
- Individuals facing accusations maintain the right to object, present new evidence, and request a hearing.
Recovery Fund Liability
- The recovery fund's liability for a single action is capped at $50,000.
Purpose of Licensing
- Real estate licensing aims to protect the public, rather than generating revenue or restricting competition.
Licensing Requirements for Brokers
- To be licensed as a California real estate broker, one must be at least 18 years old, a California resident, and meet educational and experience requirements.
Ownership in Real Estate Corporation
- A salesperson can own a controlling interest in a real estate corporation if they have applied for a broker’s license and there is at least one broker on staff.
Salesperson License Requirements
- To obtain a real estate salesperson’s license, candidates must be at least 18, complete a three-semester unit course in Real Estate Principles, and submit an application to take the examination.
California Department of Real Estate
- The California Department of Real Estate operates under the Business and Transportation Agency.
Real Estate Commissioner Requirements
- Appointment as Real Estate Commissioner necessitates either five years of active participation as a broker or five years of related experience in California real estate within the last ten years.
Policy Implementation
- The Real Estate Commissioner has the final authority on policy implementation within the Department of Real Estate.
Licensing Hearings
- Hearings regarding denial, revocation, or suspension of real estate licenses must comply with the Administrative Procedures Act.
Accusation Rights
- Individuals facing accusations maintain the right to object, present new evidence, and request a hearing.
Recovery Fund Liability
- The recovery fund's liability for a single action is capped at $50,000.
Purpose of Licensing
- Real estate licensing aims to protect the public, rather than generating revenue or restricting competition.
Licensing Requirements for Brokers
- To be licensed as a California real estate broker, one must be at least 18 years old, a California resident, and meet educational and experience requirements.
Ownership in Real Estate Corporation
- A salesperson can own a controlling interest in a real estate corporation if they have applied for a broker’s license and there is at least one broker on staff.
Salesperson License Requirements
- To obtain a real estate salesperson’s license, candidates must be at least 18, complete a three-semester unit course in Real Estate Principles, and submit an application to take the examination.
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