Under California Business & Professions Code §10130, what is prohibited for any person who has not first obtained a real estate license from the Department of Real Estate?
A. Owning investment real property in California
B. Engaging in, advertising as, or assuming to act as a real estate broker or salesperson
C. Purchasing a home for personal use
D. Serving as a witness on a real estate contract
Source: California Business & Professions Code §10130 — makes it unlawful to act as, advertise as, or assume to act as a real estate broker or salesperson in California without first obtaining a license from the Department of Real Estate; https://law.justia.com/codes/california/code-bpc/division-4/part-1/chapter-3/article-1/section-10130/
Under Business & Professions Code §10131, a 'real estate broker' is a person who does which of the following?
A. Manages a broker's own personally owned rental units without compensation from others
B. For a compensation or in expectation of a compensation, does or negotiates specified real estate acts (such as selling, leasing, or arranging loans) for another
C. Only appraises residential property for lenders
D. Files property tax assessment appeals on behalf of the county assessor
Source: California Business & Professions Code §10131 — defines a 'real estate broker' as a person who, for compensation or expectation of compensation, performs specified acts (sale, lease, exchange, loan negotiation, etc.) for another; https://california.public.law/codes/ca_bus_and_prof_code_section_10131
According to Business & Professions Code §10132, a real estate salesperson performs licensed acts under what condition?
A. Independently, without any broker affiliation, once the salesperson exam is passed
B. Only after also obtaining a broker license
C. Only when acting as an escrow officer
D. While employed by, and acting under, a licensed real estate broker
Source: California Business & Professions Code §10132 — defines a 'real estate salesperson' as a natural person who, for compensation, is employed by a licensed real estate broker to perform the acts described in §10131 and related sections; https://law.justia.com/codes/california/code-bpc/division-4/part-1/chapter-3/article-1/
Under Business & Professions Code §10133, which of the following is expressly exempt from the requirement to hold a real estate license when performing the described function?
A. A property management company advertising rentals to the public for a fee
B. A mortgage loan originator negotiating loans for multiple unrelated borrowers
C. A real estate marketing company producing listing flyers for multiple brokers
D. An attorney at law rendering legal services to a client
Source: California Business & Professions Code §10133 — lists exemptions from real estate licensing requirements, including attorneys at law rendering legal services to a client; https://law.onecle.com/california/business/division-4/part-1/chapter-3/article-1/index.html
Under Business & Professions Code §10139, an individual who knowingly acts as a real estate broker or salesperson without a license can face which penalty?
A. Only a written warning from the Department of Real Estate on a first offense
B. Automatic revocation of any future application, with no fine or jail exposure
C. A civil lawsuit only, since unlicensed practice is not a criminal matter
D. A fine of up to $20,000, imprisonment in county jail for up to six months, or both
Source: California Business & Professions Code §10139 — sets criminal penalties for acting as an unlicensed real estate broker or salesperson (up to $20,000 fine and/or up to six months in county jail for an individual; up to $60,000 fine for a corporation); https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=BPC§ionNum=10139
