DRE & LicensingIntermediateCalifornia Exam
What is a 'corporate real estate broker license' in California?
AA license issued to any business entity, per standard DRE licensing procedure, under California Department of Real Estate requirements, consistent with Business and Professions Code licensing rules
BA license that allows a corporation to conduct real estate activities, requiring that a licensed broker serve as the designated officer responsible for complianceCorrect
CA special license for real estate investment trusts (REITs), as required for license renewal in California, under California Department of Real Estate requirements, consistent with Business and Professions Code licensing rules
DA license for commercial-only brokerages, consistent with Business and Professions Code licensing rules, under California Department of Real Estate requirements, consistent with Business and Professions Code licensing rules
Why A license that allows a corporation to conduct real estate activities, requiring that a licensed broker serve as the designated officer responsible for compliance Is Correct
Answer B: A license that allows a corporation to conduct real estate activities, requiring that a licensed broker serve as the designated officer responsible for compliance
A California corporation can obtain a real estate broker license, but must designate at least one licensed individual broker as the officer responsible for all real estate activities conducted by or on behalf of the corporation. The designated officer is personally responsible for ensuring compliance.
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