11/17/25, 3:33 AM Aceable Agent: Real Estate Principles: Review Questions and Answers Flashcards | Quizlet
Aceable Agent: Real Estate Principles: Review
Questions and Answers
Save
Terms in this set (301)
The Real Estate Law is B. Business and Professions Code
found in
A. The Licensing Code
B. The Business and
Professions Code
C. The Health and Safety
Code
D. The Corporations Code
The Real Estate B. the governor
Commissioner reports to
a. the California Bureau of
Real Estate.
b. the governor.
c. the Department of
Housing and Urban
Development.
d. the legislature.
https://quizlet.com/1109373843/aceable-agent-real-estate-principles-review-questions-and-answers-flash-cards/?new 1/31
,11/17/25, 3:33 AM Aceable Agent: Real Estate Principles: Review Questions and Answers Flashcards | Quizlet
A salesperson owns 25% A. Acceptable
of the outstanding shares
of Rollo Reality Inc and
the broker owns the
remaining shares. The
division of ownership is
a. acceptable.
b. mandated.
c. discouraged.
d. prohibited.
A salesperson is part D. Prohibited
owner of Rollo Realty Inc.
In the broker's absence,
the salesperson frequently
reviews the work of sales
associates. This is
a. acceptable.
b. mandated.
c. discouraged.
d. prohibited.
A real estate business that A. A broker partner obtains an additional license for
is a partnership can have each location.
more than one office
location, provided
a. a broker partner obtains
an additional license for
each location.
b. all partners are real
estate licensees.
c. there is a designated
broker-officer.
d. there is at least one
partner at each location.
https://quizlet.com/1109373843/aceable-agent-real-estate-principles-review-questions-and-answers-flash-cards/?new 2/31
,11/17/25, 3:33 AM Aceable Agent: Real Estate Principles: Review Questions and Answers Flashcards | Quizlet
The sale or transfer of C. The Uniform Commercial Code
goods ordinarily held for
sale in the course of
business is governed in
California by
a. the Business
Opportunity Code.
b. the Commercial Transfer
Law.
c. the Uniform Commercial
Code.
d. the Real Estate Law.
An officer of Ajax B. Should have had a real estate license.
Corporation, who is not a
real estate license,
successfully negotiated
the purchase of the Smith
Widget Plant on behalf of
Ajax. The officer received
a commission on the sale
in addition to his normal
salary. The officer of Ajax
Corporation.
a. did not need a real
estate license for the deal.
b. should have had a real
estate license.
c. is exempt from licensing
requirements.
d. None of these
https://quizlet.com/1109373843/aceable-agent-real-estate-principles-review-questions-and-answers-flash-cards/?new 3/31
, 11/17/25, 3:33 AM Aceable Agent: Real Estate Principles: Review Questions and Answers Flashcards | Quizlet
If a real estate license is C. Must cease all real estate activities
NOT renewed before it
expires, the licensee
a. is allowed to complete
transactions in progress.
b. is allowed to finish
transactions that are
substantially complete.
c. must cease all real
estate activities.
d. may act under authority
of another agent's license
for a period not to exceed
60 days.
A real estate licensee can D. In a location where it can legally remain for one
offer a mobile home for year.
sale that is
a. in a manufacturing
plant, ready for delivery.
b. transportable under an
exemption from the
Vehicle Code.
c. presold.
d. in a location where it
can legally remain for one
year.
https://quizlet.com/1109373843/aceable-agent-real-estate-principles-review-questions-and-answers-flash-cards/?new 4/31
Aceable Agent: Real Estate Principles: Review
Questions and Answers
Save
Terms in this set (301)
The Real Estate Law is B. Business and Professions Code
found in
A. The Licensing Code
B. The Business and
Professions Code
C. The Health and Safety
Code
D. The Corporations Code
The Real Estate B. the governor
Commissioner reports to
a. the California Bureau of
Real Estate.
b. the governor.
c. the Department of
Housing and Urban
Development.
d. the legislature.
https://quizlet.com/1109373843/aceable-agent-real-estate-principles-review-questions-and-answers-flash-cards/?new 1/31
,11/17/25, 3:33 AM Aceable Agent: Real Estate Principles: Review Questions and Answers Flashcards | Quizlet
A salesperson owns 25% A. Acceptable
of the outstanding shares
of Rollo Reality Inc and
the broker owns the
remaining shares. The
division of ownership is
a. acceptable.
b. mandated.
c. discouraged.
d. prohibited.
A salesperson is part D. Prohibited
owner of Rollo Realty Inc.
In the broker's absence,
the salesperson frequently
reviews the work of sales
associates. This is
a. acceptable.
b. mandated.
c. discouraged.
d. prohibited.
A real estate business that A. A broker partner obtains an additional license for
is a partnership can have each location.
more than one office
location, provided
a. a broker partner obtains
an additional license for
each location.
b. all partners are real
estate licensees.
c. there is a designated
broker-officer.
d. there is at least one
partner at each location.
https://quizlet.com/1109373843/aceable-agent-real-estate-principles-review-questions-and-answers-flash-cards/?new 2/31
,11/17/25, 3:33 AM Aceable Agent: Real Estate Principles: Review Questions and Answers Flashcards | Quizlet
The sale or transfer of C. The Uniform Commercial Code
goods ordinarily held for
sale in the course of
business is governed in
California by
a. the Business
Opportunity Code.
b. the Commercial Transfer
Law.
c. the Uniform Commercial
Code.
d. the Real Estate Law.
An officer of Ajax B. Should have had a real estate license.
Corporation, who is not a
real estate license,
successfully negotiated
the purchase of the Smith
Widget Plant on behalf of
Ajax. The officer received
a commission on the sale
in addition to his normal
salary. The officer of Ajax
Corporation.
a. did not need a real
estate license for the deal.
b. should have had a real
estate license.
c. is exempt from licensing
requirements.
d. None of these
https://quizlet.com/1109373843/aceable-agent-real-estate-principles-review-questions-and-answers-flash-cards/?new 3/31
, 11/17/25, 3:33 AM Aceable Agent: Real Estate Principles: Review Questions and Answers Flashcards | Quizlet
If a real estate license is C. Must cease all real estate activities
NOT renewed before it
expires, the licensee
a. is allowed to complete
transactions in progress.
b. is allowed to finish
transactions that are
substantially complete.
c. must cease all real
estate activities.
d. may act under authority
of another agent's license
for a period not to exceed
60 days.
A real estate licensee can D. In a location where it can legally remain for one
offer a mobile home for year.
sale that is
a. in a manufacturing
plant, ready for delivery.
b. transportable under an
exemption from the
Vehicle Code.
c. presold.
d. in a location where it
can legally remain for one
year.
https://quizlet.com/1109373843/aceable-agent-real-estate-principles-review-questions-and-answers-flash-cards/?new 4/31
