California Real Estate Practice Exam

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Master the California Real Estate Exam with our comprehensive practice quiz. Get expert tips, detailed content review, and insider strategies to pass on your first try.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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If a broker fails to keep records of a transaction three years after its closing, has the broker violated the law?

No, if the property didn't close
Yes, regardless of the property's closing status
Yes, because records must be kept for three years from the closing date
No, as long as the broker has digital backups

The correct answer is: Yes, because records must be kept for three years from the closing date

This is because regardless of whether the property has closed or not, it is required by law for brokers to keep records of transactions for at least three years. Option A and D are incorrect because they are not dependent on the closing date. Option B is incorrect because the violation of law is dependent on not keeping records within the specified time frame.