DRE & LicensingIntermediateCalifornia Exam
Which California state agency is responsible for licensing and regulating real estate brokers and salespersons?
ACalifornia Department of Consumer Affairs
BCalifornia Department of Real Estate (DRE)Correct
CCalifornia Bureau of Real Estate Appraisers
DCalifornia Department of Housing and Community Development
Why California Department of Real Estate (DRE) Is Correct
Answer B: California Department of Real Estate (DRE)
The California Department of Real Estate (DRE), headed by the Real Estate Commissioner, is responsible for licensing real estate brokers, salespersons, and mortgage loan originators, and for enforcing the Real Estate Law. The Commissioner is appointed by the Governor.
Key DRE & Licensing Terms in This Question
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Loan-to-Value Ratio (LTV)The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.
Discount PointsPrepaid interest paid to a lender at closing to reduce the mortgage interest rate, with each point equal to 1% of the loan amount.
Math Concepts
State-Specific Concepts
DRE Regulation
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