REAL ESTATE LAW EXAM LATEST 2024 ACTUAL EXAM
What is the primary purpose of most civil lawsuits? - ANSWER: to compensate a
person who has been harmed
A person who commits a tort....... - ANSWER: has violated the standards of
reasonable conduct
Unconstitutional law........... - ANSWER: exceeds the powers granted to the
government
Which would be most likely to issue an ordinance? -
A. The Ashtabula county court
B. the Dayton city council
C. The Ohio Real Estate Commission
D. The Ohio State Senate
Answer: B
What is the main purpose of the doctrine of Stare Decises ? - ANSWER: to make
court decisions more consistent and predictable
What can limit a courts jurisdiction? - ANSWER: - amount of money at issue in a case
- geographical boundaries
- subject matter of the case
Alice sued Betty for breach of contract, claiming $175,000 in damages. Which kind of
state court did Alice file suit in? - ANSWER: Court of Common Pleas
An example of a person who does not need a real estate license is....... - ANSWER: a
salaried employee of ABC Corporation when selling the company's own property
The Ohio real estate commission is part of what? - ANSWER: the Department of
Commerce
Which authority revokes licenses? - ANSWER: The real estate commission
An example of what a real estate licensee is NOT allowed to do...... - ANSWER: - draft
deeds for sellers
-keep the earnest money if the deed falls through
-use an open-ended expiration date on an open listing agreement
A real estate licensee is allowed to...... - ANSWER: offer real estate to the market
only on the terms allowed by the seller
, a sales associate can - ANSWER: personally buy a listing only after disclosure to the
seller that the sales associate is a principal
what must all brokers have ? - ANSWER: a place of business to operate as brokers
A real estate licensee can begin the practice of real estate when? - ANSWER: the
license has been issued by the Division of Real Estate
In order to use the real estate recovery fund, one must be... - ANSWER: damaged by
a licensee in a real estate transaction
Continuing education for active licensees under the age of 70 requires students to
take - ANSWER: 3 hours of core law, 3 hours of civil rights law, and 3 hours of ethics
as part of the 30 hour requirement
Who may bring a complaint to the superintendent? - ANSWER: Anyone is allowed
What is the purpose of the license law? - ANSWER: protect the public against
fraudulent practice
A broker can buy property in his own name only if - ANSWER: he discloses his license
A real estate agent is usually considered a... - ANSWER: general agent
an apparent agent is one who..... - ANSWER: appears to be the agent of another, but
does not have actual authority
A real estate agency agreement must have what? - ANSWER: an expiration date
The agent may terminate the agency relationship by renouncing it when? - ANSWER:
At any time
A real estate agency is terminated by operation of law if.... - ANSWER: the broker
loses his real estate license
A real estate salesperson working for the listing broker is the - ANSWER: seller's
subagent
The real estate broker who works with a buyer must provide the buyer with the
Consumer Guide to Agency Relationships form when? - ANSWER: at the first
substantive contact
a real estate agent representing the seller is a fiduciary in relation to the ? -
ANSWER: seller
A seller's real estate agent drafted a purchase contract for the transaction instead of
using a form. That is? - ANSWER: the unauthorized practice of law
What is the primary purpose of most civil lawsuits? - ANSWER: to compensate a
person who has been harmed
A person who commits a tort....... - ANSWER: has violated the standards of
reasonable conduct
Unconstitutional law........... - ANSWER: exceeds the powers granted to the
government
Which would be most likely to issue an ordinance? -
A. The Ashtabula county court
B. the Dayton city council
C. The Ohio Real Estate Commission
D. The Ohio State Senate
Answer: B
What is the main purpose of the doctrine of Stare Decises ? - ANSWER: to make
court decisions more consistent and predictable
What can limit a courts jurisdiction? - ANSWER: - amount of money at issue in a case
- geographical boundaries
- subject matter of the case
Alice sued Betty for breach of contract, claiming $175,000 in damages. Which kind of
state court did Alice file suit in? - ANSWER: Court of Common Pleas
An example of a person who does not need a real estate license is....... - ANSWER: a
salaried employee of ABC Corporation when selling the company's own property
The Ohio real estate commission is part of what? - ANSWER: the Department of
Commerce
Which authority revokes licenses? - ANSWER: The real estate commission
An example of what a real estate licensee is NOT allowed to do...... - ANSWER: - draft
deeds for sellers
-keep the earnest money if the deed falls through
-use an open-ended expiration date on an open listing agreement
A real estate licensee is allowed to...... - ANSWER: offer real estate to the market
only on the terms allowed by the seller
, a sales associate can - ANSWER: personally buy a listing only after disclosure to the
seller that the sales associate is a principal
what must all brokers have ? - ANSWER: a place of business to operate as brokers
A real estate licensee can begin the practice of real estate when? - ANSWER: the
license has been issued by the Division of Real Estate
In order to use the real estate recovery fund, one must be... - ANSWER: damaged by
a licensee in a real estate transaction
Continuing education for active licensees under the age of 70 requires students to
take - ANSWER: 3 hours of core law, 3 hours of civil rights law, and 3 hours of ethics
as part of the 30 hour requirement
Who may bring a complaint to the superintendent? - ANSWER: Anyone is allowed
What is the purpose of the license law? - ANSWER: protect the public against
fraudulent practice
A broker can buy property in his own name only if - ANSWER: he discloses his license
A real estate agent is usually considered a... - ANSWER: general agent
an apparent agent is one who..... - ANSWER: appears to be the agent of another, but
does not have actual authority
A real estate agency agreement must have what? - ANSWER: an expiration date
The agent may terminate the agency relationship by renouncing it when? - ANSWER:
At any time
A real estate agency is terminated by operation of law if.... - ANSWER: the broker
loses his real estate license
A real estate salesperson working for the listing broker is the - ANSWER: seller's
subagent
The real estate broker who works with a buyer must provide the buyer with the
Consumer Guide to Agency Relationships form when? - ANSWER: at the first
substantive contact
a real estate agent representing the seller is a fiduciary in relation to the ? -
ANSWER: seller
A seller's real estate agent drafted a purchase contract for the transaction instead of
using a form. That is? - ANSWER: the unauthorized practice of law
