State Licensing Laws Generally Prescribe Two Levels of Real Estate

question 32

Multiple Choice

State licensing laws generally prescribe two levels of real estate brokerage licensing: the broker license and the salesperson license. Which of the following responsibilities is an individual with a salesperson license permitted to do?

• A) Own and operate a real estate brokerage business
• B) Handle money in trust for clients
• C) Negotiate listing contracts or contracts for sale
• D) Complete legal documents used in sales and leases in their own name

---

Definitions:

Responsibility Center

An organizational unit for which a manager is assigned responsibility over costs, revenues, or assets.

Department Manager

A position responsible for overseeing the operations, productivity, and personnel of a specific department within an organization.

Revenues

The cumulative financial gain acquired by transacting goods or services indispensable to an enterprise's principal undertakings.

Decentralization

The distribution of decision-making powers from a central authority to smaller units or individuals within an organization.