- List three parties exempt from real estate licensing requirements in California. (Additional correct answers on page 9.)
- The employees of banks or other lending institutions
- Cemetery authorities
- Short-term (vacation) rental agents
- What is California’s policy regarding compensation for an unlicensed person acting in the capacity of a real estate salesperson?
That individual cannot receive any compensation for such acts.
- If a broker authorizes an unlicensed person to act in the capacity of a licensed salesperson, including providing compensation for real estate services, who will be disciplined under the law?
Both the unlicensed person and the broker
- What are the penalties for engaging in unlicensed real estate activity?
The penalties for engaging in unlicensed real estate activity are a fine of up to $20,000 and/or six months imprisonment for an individual, and a fine up to $60,000 for a corporation.
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