16. California Real Estate License Law
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Questions and Answers

How long must a broker keep bank deposit slips according to documentation requirements?

  • 2 years
  • 3 years (correct)
  • 4 years
  • 1 year
  • What must be included in an advertisement published by a real estate agent?

  • Licensee's address
  • Licensee's designation (correct)
  • Licensee's educational background
  • Licensee's social security number
  • According to the DRE, what is the minimum duration a broker-salesperson agreement must be retained after the relationship is terminated?

  • 4 years
  • 3 years (correct)
  • 1 year
  • 2 years
  • What are the consequences of false advertising and other advertising law violations?

    <p>Grounds for disciplinary action under Real Estate Law</p> Signup and view all the answers

    What is required in an advertisement if it is published by a real estate agent?

    <p>'Some indication in ad that advertiser is licensee'</p> Signup and view all the answers

    When should trust funds be deposited in a trust account?

    <p>No later than the third business day after they are received</p> Signup and view all the answers

    What should a salesperson do when entrusted with trust funds?

    <p>Immediately deliver the funds to their broker or as directed by the broker</p> Signup and view all the answers

    In what situation can a good faith deposit check be held uncashed?

    <p>If buyer has given written instructions not to deposit or cash the check until acceptance</p> Signup and view all the answers

    What is required if a principal gives a check directly to a third party without it passing through the broker's hands?

    <p>Enter the check into the trust fund records</p> Signup and view all the answers

    How should trust accounts be opened?

    <p>Specially designated as trust accounts in the broker’s name</p> Signup and view all the answers

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