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INTRODUCTION TO LAW
LICENSES & EXEMPTIONS
OHIO REAL ESTATE COMMISSION
DIVISION OF REAL ESTATE
CHAPTER 1 & 2 MISC
100
THIS IS A LAWSUIT BROUGHT BY THE GOVERNMENT.
What is CRIMINAL LITIGATION
100
When a broker returns his own broker’s license to the Superintendent of the Division of Real Estate so as to reactivate his salesperson license, the license is said to be 1. Canceled 2. In escrow 3. Inactive 4. On deposit
What is ON DEPOSIT
100
THE OHIO REAL ESTATE COMMISSION CONSISTS OF HOW MANY MEMBERS?
What is 5
100
THE DIVISION OF REAL ESTATE IS RUN BY WHO?
Who is THE SUPERINTENDENT
100
P sues D for the breach of a real estate contract, claiming $121,500 in damages. In which court is the case mostly likely to be tried? 1. County Court 2. Ohio Real Estate Court 3. Court of Common Pleas 4. Municipal Court
What is COURT OF COMMON PLEAS
200
THIS IS A LAWSUIT IN WHICH ONE INDIVIDUAL SUES ANOTHER.
What is CIVIL LITIGATION
200
According to Ohio License Law, who does NOT need to be licensed to sell real estate? 1. A salaried employee of ABC Corporation when ABC is selling its own property. 2. An apartment locator service that charges a fee for its services to the client seeking an apartment. 3. A property management company that leases to tenants. 4. A friend selling a neighbor’s property for $100
What is A SALARIED EMPLOYEE OF ABC WHEN ABC IS SELLING ITS OWN PROPERTY
200
HOW MANY MEMBERS ARE AGENTS?
What is 4
200
THE INDIVIDUAL THAT RUNS THE DIVISION OF REAL ESTATE IS APPOINTED BY WHO?
Who is THE DIRECTOR OF COMMERCE
200
The rule preventing a court from hearing a case if too much time has passed since the facts giving rise to the case have occurred is called the 1. Statute of limitations. 2. Rule of equitable remedies. 3. Statute of liability. 4. None of the above.
What is STATUTE OF LIMITATIONS
300
THIS IS A BREACH OF THE STANDARDS OF REASONABLE CONDUCT THAT CAUSES DAMAGE TO ANOTHER PERSON.
What is A TORT
300
When a salesperson or a broker enters the armed services, her real estate license is said to be 1. Canceled. 2. On deposit. 3. Inactive. 4. In escrow.
What is ON DEPOSIT
300
NO MORE THAN HOW MANY MEMBERS MAY BE OF THE SAME POLITICAL PARTY?
What is 3
300
THE DIVISION COULD DO THIS AFTER COMPLETION OF AN INVESTIGATION ( REGARDING YOUR LICENSE ) ?
What is SUSPEND OR REVOKE
300
To start a civil lawsuit, a plaintiff files a complaint. If, in the same lawsuit, the defendant makes claims against the plaintiff, the defendant files a 1. Counterclaim. 2. Counter complaint. 3. Deposition. 4. Injunction.
What is COUNTERCLAIM
400
ONE OF THE FIRST DOCUMENTS PROVIDED TO BOTH SELLERS AND BUYERS. LICENSE MAY BE SUSPENDED OR REVOKED IF YOU FAIL TO PROVIDE.
What is CONSUMER GUIDE TO AGENCY RELATIONSHIPS.
400
Suspension of a real estate license is for 1. One-half the time of a revocation. 2. A set period of time, with reactivation by application after the suspension is lifted. 3. An unspecified period of time. 4. An unspecified period of time, with reactivation by application.
What is A SET PERIOD OF TIME, WITH REACTIVATION BY APPLICATION AFTER THE SUSPENSION IS LIFTED
400
HOW MANY YEARS IS THE TERM OF A MEMBER OF THE COMMISSION?
What is 5
400
AFTER COMPLETION OF AN INVESTIGATION THE DIVISION COULD FINE YOU UP TO THIS AMOUNT.
What is $2,500
400
X fails to make the home repairs for which he contracted with Y. The contract was for $5,000 and was not paid. Y secures another contractor to perform the work for $6,000. In the subsequent lawsuit of Y against X for breach of contract, Y is most likely to be awarded 1. $1,000 in compensatory damages. 2. $1,000 in punitive damages. 3. $5,000 in compensatory damages. 4. $6,000 in compensatory damages.
What is $1,000
500
THIS COURT HEARS ALL CIVIL CASES ARISING IN ITS COUNTY THAT EXCEED THE JURISDICTION OF INFERIOR COURTS.
What is THE COURT OF COMMON PLEAS
500
HOW MANY YEARS DOES A SALESPERSON HAVE TO BE AN ACTIVE FULL TIME AGENT IN ORDER TO BECOME A BROKER (IN THE PREVIOUS 5 YEARS).
What is 2
500
A SALES APPLICANT MAY GET A MAXIMUM LOAN OF HOW MUCH FROM THE EDUCATION AND RESEARCH FUND THAT'S ADMINISTERED BY THE COMMISSION?
What is $2,000
500
THE NUMBER OF DAYS FOR PARTIES INVOLVED IN A COMPLAINT TO AGREE TO AN INFORMAL MEETING
What is 10
500
AFTER RECEIVING SUMMONS AND COMPLAINT, THE DEFENDANT HAS HOW MANY DAYS TO PREPARE THE ANSWER?
What is 28