California Real Estate Practice Exam

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Study for the California Real Estate Exam with confidence. Engage with interactive questions designed to enhance your understanding of real estate principles, laws, and practices. Prepare thoroughly for your licensing test and ensure you have the knowledge to succeed in your real estate career!

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An employee of a bank selling properties at foreclosure

must be licensed as a real estate broker
is required to have a special permit
needs a real estate agent's license
is exempt from licensing requirements

The correct answer is: is exempt from licensing requirements

Employees of a bank selling properties in a foreclosure do not need to have a real estate license or special permit. This is because they are acting on behalf of the bank and not directly engaging in the buying or selling of properties. Therefore, they are exempt from the licensing requirements that apply to real estate brokers and agents. Options A, B, and C are incorrect because they suggest that a license or permit is required, which is not the case for employees of a bank in this situation.