Unit 5: Real Estate Brokerage Activates & Procedures

Question 1

Brokerage Branch Offices

Answer 1

Must register each office.
Registration is not transferable.
Registration may be reinstated.

Question 2

Brokerage Office Signs

Answer 2

Must display on exterior or interior of the entrance to principal office and all branches.

Must be easily read, understood, and must contain the following:
Trade Name (if one is used)
Broker’s Name
The words (Licensed Real Estate Broker) or (Lic. Real Estate Broker).

Question 3

Advertising Requirments

Answer 3

Must be in name of the brokerage

Question 4

Words that are prohibited in Team Names

Answer 4

complete

Question 5

Regarding Advertising Requirments - Recognize errors in a real estate Ad.

Answer 5

complete

Question 6

Federal Telemarketing Law Exceptions

Answer 6

complete

Question 7

Acceptable Depositories for Brokers’ Escrow Account

Answer 7

complete

Question 8

What is the timeframe for escrow deposits

Answer 8

complete

Question 9

Postdated Escrow Checks

Answer 9

complete

Question 10

Who is liable for postdated & insufficient fund checks and why?

Answer 10

complete

Question 11

Title Company & Escrow Funds

Answer 11

complete

Question 12

Conflicting Demands

Answer 12

complete

Question 13

Settlement Procedures for Conflicting Demands

Answer 13

complete

Question 14

Kickbacks

Answer 14

complete

Question 15

Entities who may not register as a real estate brokerage

Answer 15

complete

Question 16

Compensation for Licensed Personal Assistants

Answer 16

complete