3. the real estate board 2. 4. review the complaint to determine if there is a possible violation of license law or board regulations, review the complaint to determine if there is a possible violation of license law or board regulations, it is a violation of VA license law to induce another person into selling their property by representing that: Round answer to the nearest cent. 4. comply with federal law, an offer is written for a property late friday night, but the salesperson is getting ready to leave town for the weekend. 1 year On November 9th, 2022, the Department of Real Estate issued an Order revoking real estate salesperson's license number SA692185000 issued to Nelida Oveida Rios. 4. apply to the real estate board for a license as a new applicant, ask tom to return her license to the board and apply for a transfer, a VA real estate license must be renewed at periodic intervals. 1. a fictitious name Reimburse financial losses caused by licensee misconduct 7 licensees (with at least 5 years experience) and 2 consumers, 7 licensees (with at least 5 years experience) and 2 consumers, who is exempt from VA real estate license requirements? 1. an executor of a will 2. automatically fine the licensee for $1000, then schedule a hearing this person: 1. the developer may publish the ad as planned 1. that she is describing an open listing 3. name of the brokers firm Calculate the net sales revenue for the month. 4. plans to hold an open house, an award from the transaction recovery fund will result in: Under what circumstances may listing real estate broker in 1. employs a resident broker to represent her 1. place where real estate business is regularly transacted In the situation described, which of the following statement is true? 4. that he cannot accept the listing, if the board receives a written complaint about a licensee, what if the first they will do? 2. the respondent must assign all commissions and personal property to the claimant or the board Encourage higher education in real estate 2. can only conclude the transactions in the process to facilitate the termination of the business 3. an employee of a broker, who negotiates leases The Licensing section is responsible for reviewing applications of individuals who are applying to take the Arkansas real estate exam, issuing licenses to persons who enter the profession, annually renewing licenses issued to real estate brokers and salespersons, maintaining current license data and history for each licensee, and maintaining A broker may be disciplined for all of the following EXCEPT: Placing a definite expiration date in an exclusive listing agreement. near schools, shops and trains. Visit the Bureau of Real Estate's website at http://www.dre.ca.gov/. 3 years 4. he will have to retake the licensing exam, by virginia definitions, which person requires a real estate license? Question text 1. for failure to pay an assessment to the TRF 3. the business can only be organized as a corporation 4. schedule a hearing to determine guilt or innocence, which of the following persons could file a claim for payment from the transaction recovery fund? 1. sayumi cannot engage in acts of brokerage 3. that she is describing an exclusive agency listing 3. a sheriff ordered by the court to sell a house at foreclosure 4. apply to have her license placed on inactive status, meet the current educational requirements and pay the renewal fee, the real estate board has a responsibility to settle disputes between: 1. a court of competent jurisdiction 3. his license will expire 3. matters outside the scope of its authority 3. only to revoke the license, as provided by VA law Mary didn't realize until January that her license had expired. Has Larry violated the rules? Has Billy violated the VA License Law? Vera should: In this situation, which of the following statements is true? 3. a person who is currently licensed in another jurisdiction The exact steps you'll need to take to become a licensed agent will differ a little depending on where you live, but in most places, you'll need to take a few real estate courses and pass a licensing exam. 1. suspension of his license and a fine 4. both 1 & 3, if a principal brokers license is suspended, what happens to the licenses of any affiliated agents at that firm? 16 hours of continuing education 4. the principal broker of the respondent, which of the following about the transaction recovery fund is correct? The notice of intent to issue a cease and desist order must include a statement of the alleged unlicensed activities, and failure to file a request for a hearing within 20 days after service of the Notice is considered a default, allowing the Director to make a permanent cease and desist order . 1. complete the mandatory postlicense education requirement b) A real estate broker's reliance on information by a multiple listing service is acceptable as a reasonable defense for the broker's failure to obey a licensing law. 3. If you are having problems completing the application process, please contact us at 517-241-0199 for assistance and we can help walk you through the process. 4. corporate attorney, which person must have a license issued by the real estate board? A real estate licensee may be disciplined by the Pennsylvania real estate commission for which of the following reasons? 3. charges more than the legal maximum commission rate 3. provide retirement income for brokers 2. return his or her license to the board 20 every two years 3. all licenses must be renewed biennially in odd numbered years 3. susan is guilty of accepting money from someone other than her employing broker 2. do nothing, as the license automatically renews every 2 years 4. grounds for suspension or revocation of a license, grounds for suspension or revocation of a license, the board may take disciplinary action against a: 120 hours 4. to be exempt, the tenant must pay his own utilities, the owner and tenant are exempt from the real estate license law, The Board takes disciplinary action against a licensed salesperson. 4. A. 4. mary is required to meet the current educational requirements if she had never been licensed, mary should apply for reinstatement of her license, which person would require a license, issued by the real estate board? 4. all of the above, when a salesperson terminates affiliation with a broker, that salesperson must: The salesperson can pay this referral bonus to: Operations Management questions and answers, A real estate licensee may be disciplined by the Pennsylvania 1. give back all listings acquired while affiliated with the broker 3. has a written listing agreement If a salesperson quits or is discharged by his or her broker, the broker is required to return the salesperson's license within: All transactional documentation for listings, purchase and sale agreements, property management activities, exchanges, and trust account records must be retained for a period of: Depositing trust funds with personal or business funds. 21 days 1. automatic suspension of the real estate license 1. an attorney who is licensed to practice law in VA 1. maintain an office in the state of VA 3. 2. have a desk for every 5 agents 2. he can pay a fine to extend the renewal date 3. she does not need a real estate to sell her own house 2. the owner, as long as he finds a ready, willing, and able buyer B. 1. will be issued a temp license by board 1. a court having jurisdiction over the brokers He agrees to maintain the building if he can receive a reduced rental fee. 600,000 1. 4. enforcing the VA homestead act, if a broker operates the firm from an office in his home, it must: 3. take the continuing education course and apply to reinstate his license 2. any property owner 2. post a bond 1. at least 40 hours per week a 12 month. Method 1 Verifying a Real Estate License Download Article 1 Gather information. 1. engages in acts of brokerage wile on inactive status Jack makes the required disclosures in the middle of his email, in bold lettering. 1. your brokerage firm will accept a lower commission rate D. A 20 percent decrease in the maximum payment one may receive from the fund, An assessment from all licensees to restore the fund to the minimum balance, The purpose of the Transaction Recovery Fund is to: 4. all of the above, a real estate license could be suspended without investigation if the licensee: 2. mary should apply for reinstatement of her license Phone 123-4567"? Fiduciary duties are owed to both buyer and seller. 2. by written contract between the owner and the principal broker 2 years $400,000 4. 4. when the salesperson refuses to perform real estte duties, when the salesperson refuses to perform real estate duties, if a licensee has placed her license on inactive status, it means: A. 2. ben must disclose his firm name, city, and state Who is most likely to collect? 60 hours 2. no, because it is permissible to provide a link to the required disclosures A. Engages in acts of brokerage while on inactive status Cindy may accept this listing if her license is current, neither cindy nor her broker may accept this listing, a real estate salesperson will receive her share of the brokerage fee from which person? 4. all of the above, does not pay the transaction recovery fund assessment, If a judgment has been awarded to a claimant, what must the claimant do before the Board will authorize payment from the Transaction Recovery Fund? 2. the licensee may be exempt from the VA landlord tenant act 1. take the continuing education course The licensee has 4 years to repay the Fund 3. administrative process act 1. the salesperson is entitle to receiver her commission What must she do? c. The local Real Estate Board might be approached. We reviewed their content and use your feedback to keep the quality high. 2. with written permission of the VA real estate board This could be drug and alcohol related crimes, in addition to crimes with elements of fraud, dishonesty, and misrepresentation. 3. her employing broker This ad is in violation of the Virginia License Law because: 3. a claimant may collect up to 20,000 2. file a claim against the licensee to recover the judgement amount awarded by the court C. $100,000 1. by having his license returned to the board a new license issued to the new broker If necessary, the Board may reassess licensees: 1. fraud 2. its own initiative, without any written consent 4. list and sell property for relatives at a discounted price, renew his license every 2 years by paying the renewal fee, the VA real estate board has the power to take all of the following actions, except: 1. the owner and the tenant are exempt from the real estate license law 120 2. principal broker 2. protect the public interest 4. setting the commission rates for different types of property, waiving education or experience requirements, before a person can apply to obtain a brokers license, how much experience must she have as a salesperson? 2. be 21 years old 2. administer the fair housing act Ben and Jerry are communicating via instant messages. Thus, the term REALTOR should not be used to generally refer to all real estate licensees. 4. all of the above, Salesperson Lynch receives a referral check from an out-of-town broker, Kirks, for sending him a prospective buyer. 4. either 1 or 3, When a salesperson transfers from one broker to another, who is responsible for sending the salesperson's license to the Board? 3. 4. both 1 & 3, affiliate with a broker and submit an application for licensure, the real estate board consists of: the real estate license of any person or firm may be revoked by which of the following entities? 4. all of the above, offer to sell, purchase, or exchange real estate o behalf of another for a fee, the principal broker must keep all of the following at the main firm office, except: 4. no because the board does not regulate banner advertising, no, because it is permissible to provide a link to the required disclosures, which of the following is true about real estate advertising? 4. after 3 complaints have been received, Allison is a broker who knowingly stated an false material fact. 2. is attractive to many sellers since they dont need to get involved in the negotiation 2. send the salespersons license to the real estate board 2. on for sale signs places on specific property 10,000, if the board has authorized payment from the transaction recovery fund, what is the effect for the licensee who committed the misconduct? 1. she may act as a broker in VA by virtue of her valid out of state license 4. none of the above, a broker would not be in violation of VA license law if he: 4. this is a good sales strategy, Broker Evans fired Sally because she was stealing from the petty cash fund. Experts are tested by Chegg as specialists in their subject area. seller would accept if lower than the list price, D. a licensee is obligated to disclose to a consumer the minimum 1. must be 18 years old 3. with written permission of each broker The DRE also handles the renewal of the licenses. 3. legal, if the insurance broker holds a salespersons license 4. it does not disclose the agents license status, which of the following statements is true regarding the multiple listing service? This arrangement is: Grounds for disciplinary action by the commissioner. 3. they direct the public through a neighborhood more desirable than the subject property 1. 3. standardization of the clauses contained in a listing agreement 1. 10 days 4. selling salesperson, a broker advertises property listed with her firm in a newspaper. C) Terry, 43, who worked as a real estate licensee until he was 28. 1. a written complaint 4. an individual employed by the owner of rental property, an employee of a broker, who negotiates leases, Broker Takahashi wants to open her own partnership. The mission of the California Department of Real Estate is to safeguard and promote the public interests in real estate matters through licensure, regulation, education and enforcement. 10,000 What should he do? The deal states that Harry will sell all of the houses that Darrell built on Larry's land. 3. mary may continue to engage in acts of brokerage if she can establish that the postal service lost the renewal notice Yes, Cindy may accept this rental listing because brokerage fees are always negotiable between the owner and the agent What will happen to Craig's license if he doesn't complete the required courses before renewal? 3. only with the approval of the principal broker 2. a consumer that has been defrauded in a real estate transaction Broker XYZ. 2. approving the license exams 2. instant messaging $471.8360%\$471.83 \div 60\% 45 hours of post license education A. which of the following is true? 3. an office cannot operate on a residential property 2. helping a friend sell his house for a fee 1. the person who is active on the brokerage side of the business must have a brokers license 3. upon the request from the salesperson to transfer to another broker A. Kerra filed suit against the local Association of Realtors 4. must ensure compliance with all laws and regulations at all locations, must keep all financial records for 5 years, a VA real estate firm may operate under the name of: 2. must complete 145 credit hours of courses approved by the board 4. all of the above, a person who, for compensation, helps to sell his neighbors home, when a salesperson takes a listing, the commission amount is determined by the: The Commission promulgates (adopts) rules and regulations that enforce the Florida statutory license law. 4. an attorney at law who is regularly engaged as a real estate broker, an attorney at law who is regularly engaged as a real estate broker, Carla has been licensed to sell real estate in Wisconsin for the last 10 years. agreement of sale MUST contain the. Visit their website for more details and the most current disciplinary action. 4. her employing broker will lose his license if the salesperson is found guilty, she is entitled to a hearing before the board can take disciplinary actions, unless the law provides otherwise, Sarah the Salesperson sold a property for Owner Fred. One night, Larry replies to one of Bill's emails, but includes none of the required disclosures. PO Box 9425 Stn Prov Govt. VA association of realtors 2. not exceed 500 square feet in size B. Darrell, the contractor 24 hours of continuing education, the real estate license of any person or firm may be revoked by which of the following? 3. legal, if ellen performed as agreed 3. must have been active as a salesperson for 3 years 1. a trustee who is required to sell a house at foreclosure In December 2015, the department received a complaint and opened an investigation into allegations the salesperson was using a Facebook page to . 3. the respondent must file bankruptcy and sell all property 4. the local association of realtors, Rainy Yeng has been transferred out of the area on an extended work assignment. 2. impose a monetary penalty of up to $1,000 payment received, license revocation and in order to perform community 2. tell the buyer it will have to wait until monday 4. all of the above, Robert the Broker wants to stay on top of technological trends. A personal loan 4. 3. rent apartments for a small fee 2. the licensee notify the board within 10 days 2. the renewal fee, plus $20 payment for the transaction recovery fund 2. the claimant assigns his rights to the board, to the extent of the amount of money paid by the fund A licensee can advertise a listed property by means of a blind ad when: A licensee hired by a broker to engage in real estate activity on behalf of the broker must: Be employed under the terms of a written agreement that documents their employment relationship, never infer to a customer or client that they are in business for themselves, and receive all compensation from the broker. 3. the firm must be incorporated in VA Why is this ad in violation of Board regulations? 2. violation of anti trust laws The commission rate to be given by a seller as set forth in the listing agreement is: Negotiated between the broker and seller. 4. failing to advise a buyer of an offer, in the case of a buyers agent, failing to inform the seller of the ethnic character of a buyer, If a salesperson is in violation of Virginia License Law or regulations, the Board may discipline the salesperson by doing any of the following actions, EXCEPT: In this situation, which of the following statements is true? 2. branch license This ad is in violation of the Real Estate Board Regulations because: 2. the brokers name is missing 1. in VA, anyone who sells real property must have a real estate license 2. 3. take and pass a test within 12 months of application 4. the seller must be informed of any such payment, prior to signing the listing agreement, in accordance with real estate board regulations, all records of transactions and closings maintained by a broker must be: B. 2. local association of realtors Unfortunately, Craig has been so busy that he hasn't taken any continuing education yet. 1. it can only accept residential listings An assessment from active licensees to restore the fund to the minimum balance The first renewal of a real estate license requires completion of WHAT hours of continuing education during the previous four years. 3. filed a claim against the salespersons broker C. Automatically revoke the broker's license 1. no, because he acted in suzys best inerests 2. legal, if disclosed im writing to all parties 4. no, using these deposits for repairs would eliminate the need to charge damage repairs when tenants move out, no, security deposits are held for tenants in an escrow account and are not part of the operating funds, a broker is a member of the local MLS service. The Real Estate Board could withhold issuance of a new license, forever 3. must be kept at the employing brokers main place of business Board may reassess licensees: 1. misrepresentation (If there is a possibility that the Real Estate License Law has been violated, the Board will refer the complaint to the North Dakota Real Estate Commission.) Licensees may also write to: Financial Services Tribunal. All real estate licensees are subject to discipline by the REEB as well as litigation. 1. complete an 18 credit hour course in the principles of real estate 3. revocation of his license and a fine 4. the licensee is not subject to the rules and regulations of the board, the license may be exempt from the VA landlord tenant act, which of the following persons is not exempt from the licensure requirements? 3. only if the salesperson is an employee of the broker, not an independent contractor commission split between the licensee and the broker, What is the maximum time an aggrieved 4. the inspection service provides a warranty, the fee is acknowledged, in writing, by the parties to contract, A salesperson candidate is required to take a certain number of credit hours before sitting for the state licensing exam. 1. legal, if ellen maintains a record of the transaction 2. a salesperson with 5 years experience may run the office may place a licensee, registrant, or permittee on probation; may suspend a license, registration, or permit for a period not exceeding 10 years; may revoke a license, registration, or permit; may impose an administrative fine not to exceed $5,000 for each count or separate offense; and may issue a . 4. none of the above, people from hungary are moving into the neighborhood, Salesperson Ellen shows many different properties to her clients over the course of several weeks. 2. failing to identify the type of services offered in a general property description 2. must be displayed in a conspicuous place in her home office The property sells on December 20 and closing takes place on January 15. 3. administer the transaction recovery act A. 3. sell or rent investment property for profit Sayumi is therefore designated as a senior partner of the brokerage firm. Automatically suspend the broker's license Which of the following statements is true in this situation? A) Cynthia, age 55, who has a master's degree and has lived in Alabama for the past five years. 30 hours of post license education 1. their licenses are not affected License Categories [G.S. 2. may allow unlicensed employees (on a regular salary) to sell the tracts 4. a 20% decrease in the maximum payment one may receive from the fund, an assessment from all licensees to restore the fund to the minimum balance, What is the maximum amount that can be paid from the Transaction Recovery Fund for claims against the same licensee during a two year period? 3. in newspaper ads consisting of more than 28 lines of copy 2. darrell the contractor Real Property Law 441-c provides, in part, that the Department of State may revoke, suspend, fine or reprimand a real estate broker or salesperson if that licensee is found to have, among other things, violated any provision of Article 12-A of the Real Property Law, engaged in fraud or fraudulent practices, or demonstrated untrustworthiness or
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