California Real Estate Practice Exam

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What is required of a California real estate broker negotiating to buy property in Nevada for a client in San Francisco?

A Nevada broker's license
Nothing more than his California broker's license
A special interstate transaction permit
Approval from the Nevada Real Estate Division

The correct answer is: Nothing more than his California broker's license

In this scenario, a California real estate broker is negotiating to buy property in Nevada for a client in San Francisco. Since the broker is licensed in California, they are authorized to practice real estate in that state. However, in order to conduct business in another state, the broker would typically need a license in that state as well. Thus, option A (A Nevada broker's license) is incorrect. Option C (A special interstate transaction permit) is also incorrect, as such a permit does not exist and is not required for this scenario. Option D (Approval from the Nevada Real Estate Division) is incorrect, as this is not a requirement for out-of-state brokers conducting business in Nevada. Overall, option B (Nothing more than his California broker's license) is the correct answer, as it is the only option that accurately reflects the licensing requirements for this situation.