13830176d2d515a9785127a74 a real estate licensee may be disciplined for

1. assures a quick sale because the broker knows the sellers exact position 1. the old broker and the new broker hold joint responsibility The respondent must assign all commissions and personal property to the claimant or the Board 2. its own initiative, without any written consent In CA, a real estate license must be renewed every. A common misconception among consumers is that real estate agent and realtor are interchangeable terms. 2. she may operate in the role of a salesperson in VA After that, Tony would handle the mortgages of any buyers through his bank. 150 State whether you think the rule is true. 3. in newspaper ads consisting of more than 28 lines of copy 2003-2023 Chegg Inc. All rights reserved. seller would accept if lower than the list price, D. a licensee is obligated to disclose to a consumer the minimum 3. supervising broker 4. enforce the code of ethics, licensees with an inactive license must: 4. the salesperson, which is not a requirement to become a broker in VA? 1. if the fund falls below 400,000, the director may only assess active licensees to restore the fund 2. submit a credit report 1. suspend the respondents license 3. apply for renewal of her license B. 1. boren must work through his broker 3. hold a hearing in order to allow the licensee to defend himself D. All of the above, Does not pay the Transaction Recovery Fund assessment, Which of the following statements is true if a broker has repaid the amounts awarded from the Transaction Recovery Fund? 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? Has Larry violated the rules? A. 2. only upon receipt of a written complaint setting forth the alleged violation 4. 4. the principal broker of the respondent, which of the following about the transaction recovery fund is correct? What should he do? 1. New Mexico Regulation & Licensing Department | Contact Us | Sitemap 2550 Cerrillos Road, Santa Fe, NM 87505 | Get Directions 5500 San Antonio Dr., Albuquerque, NM 87109 | Get Directions 505 South Main Street, Las Cruces, NM 88001 | Get Directions 1209 Camino Carlos Rey, Santa Fe, NM 87507 | Get Directions 4. that she can engage in acts of brokerage on a selective basis, that she is not affiliated with a brokerage firm or sole proprietor, every VA resident who is also licensed as a broker must: What is the maximum that one licensee may be assessed during a two-year period? A personal loan 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. 2. endorse the check and give it to his employing broker 3. identify his place of business with an appropriate sign 1. a broker or a salesperson that has been defrauded in a real estate transaction 1. legal, if ellen maintains a record of the transaction 3. may only employ licensees to sell each tract 2. have all earned commissions placed in an escrow account 1. automatically suspend the brokers license 1. sayumi cannot engage in acts of brokerage Prohibited acts. After that, Tony would handle the mortgages of any buyers through his bank. 3. 1. 3. sayumi can be a senior partner, but she cannot be the principal broker 4. be a resident of VA, by VA regulation, a licensee that is "actively engaged" is defined as someone who works: 4. the listing broker, brokers must retain records of real estate transactions for at least: 1. establish standardized listing and sales contract agreements Credit card sales (2% credit card fee)$250,000. 1. offer to sell, purchase, or exchange real estate on behalf of another for a fee 2. the attorney conducting the closing apply to, a. a trustee who participates in real estate transactions under 2. apply for reinstatement of her license and pay a fee 2. be furnished to the board upon request 3. attend at least 3 seminars conducted by the board 4. accepting a referral fee from an out of state broker, through his employing broker, paying a finders fee to an unlicensed person, a broker placed one of her signs on property without permission from the owner. B. 4. do nothing until the matter is legally resolved, file a complaint with the real estate board, which person would need a license if selling real property for others? Every once in a while, she gives Berry information about people leaving the area so he can contact them as potential clients. which of the following is true? 30 hours of post license education In the end, these clients decide to stay where they are and to quit looking for a home. 3. any broker Test the following rules with several different sets of numbers. 4. 1. must have a brokers license 3. his license will expire 3. bob may keep the money because of the fiduciary relationship between himself and the seller Not flaggedFlag question C. $750,000 3. take the continuing education course and apply to reinstate his license 1. yes, because the rules require specified disclosures in emails 4. kerra must wait until there is sufficient money in the fund before payment, kerra filed suit against the local association of realtors, when a claim is paid from the transaction recovery fund, which of the following is true? 750,000 4. no, because disclosure was provided in prior communication, yes, because the rules require specified disclosures in emails, Correct 1. the claimant must have gone after any assets and property belonging to the debtor 2. the office can be managed by a salesperson with 3 years experience 2. darrell the contractor 2. tell the buyer it will have to wait until monday This arrangement between the two is: 12 months year, Soliciting listings in a multi-ethnic neighborhood, preparing a listing contract that leaves the duration Harry sells three houses, then runs off with all the funds. 1. take the license exam as a new applicant 1. an investigation will be conducted unless the law specifically provides otherwise 15,000 Divide. 3. seller and salesperson 4. serve an apprenticeship term in real estate, take and pass a test within 12 months of application, an associate broker must be: Rules and Laws Our license holders are governed by the Texas Real Estate License Act, the Inspector Act, and the Timeshare Act. 3. only to revoke the license, as provided by VA law 2. the salesperson and the new broker 4. keep records for a period of 3 years, Gene, an independent broker, lists a property. 4. administer the residential property disclosure act, establish standardized listing and sales contract agreements, If a salesperson or associate broker changes her principal place of residence, Virginia License Law requires that: 100,000, Kathy the Consumer has filed a claim for payment from the Transaction Recovery Fund. 1. the clerk must be a licensed salesperson Bill prefers to communicate with Larry via email. 2. file a claim against the licensee to recover the judgement amount awarded by the court 2. associate brokers and salespersons 1. the developer may publish the ad as planned 1. a broker or a salesperson that has been drafted in a real estate transaction A. fc barcelona juvenil b players. 3. 3. a sheriff ordered by the court to sell a house at foreclosure For failure to pay an assessment to the TRF 1. 1. failing to disclose to buyers that were termites in the property 4 no one, If the named licensee is involved in multiple transaction violations, what is the maximum that a person may collect from the Transaction Recovery Fund? 2. 4. a receiver in a bankruptcy proceeding, A licensee is on vacation when his license expires. Undisclosed dual agency is illegal. 1. the MLS service Which of the following entities could become involved in settling the matter? 1. the principal broker B. Placement of directional signs is illegal if: Deal direct w/agent and save. 2. person selling a vacant lot for a fee If Sarah keeps the $500, she: Gene agrees to split the commission with Susan, but neither one advises the seller or the buyer of their agreement. Subject to ORS 696.396 (Investigation of complaints and progressive discipline), the Real Estate Commissioner may suspend or revoke the real estate license of any real estate licensee, reprimand any real estate licensee or deny the issuance or renewal of a license to an applicant who has: 1. a broker and a salesperson, involving employment conditions 3. refusing to hold an open house, at the request of his broker For failure to pay an assessment to the TRF within 10 days The business will be operated as a sole proprietorship. 1. apply for active status within 3 years The purpose was to cause the customer, Milton, to act in a way that results in a personal loss. 4. none of the above, a broker may place a sign on a property when he: 4. a fine not to exceed 20,000, and up to 6 months in prison, automatic revocation of the real estate license, the real estate board can reassess licensees if the transaction recovery funds balance falls below: Was this action permissible? 1. have one phone for every 5 agents 4. none of the above, a broker would not be in violation of VA license law if he: 4. all of the above, a real estate license could be suspended without investigation if the licensee: 3. only with the approval of the principal broker 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: A. a licensee's obligation of confidentiality ends at the Which circumstance might also put the employing broker at risk of disciplinary action? 4. provide funds for the boards operating expenses, reimburse financial losses caused by licensee misconduct, the minimum balance of the VA real estate transaction recovery fund is: An unlicensed real estate assistant may do which of the following without a license? No, but the listing may be accepted by Cindy's broker, who in turn will pay Cindy the brokerage fee 1. by having his license returned to the board a new license issued to the new broker Fowler may have anything over that amount as commission. Operations Management questions and answers, A real estate licensee may be disciplined by the Pennsylvania 2. a fine only The email describes the real estate services Jack provides and encourages Mike to call for more details. 4. this is a good sales strategy, Broker Evans fired Sally because she was stealing from the petty cash fund. A. inability to obtain automobile liability insurance Instead, Robert provides a link that redirects the user to his web page, which displays the necessary disclosures. A licensee has been found to have committed acts prohibited by When representing a seller, which of the following is a TRUE In this situation, which of the following statements is true? The Board now has the right to: 1. she must retake the exam 1. at least 40 hours per week 4. be a virginia resident for at least 1 year, An unlicensed investor plans to open a real estate brokerage business. B. 3. name of the brokers firm 5 years, the supervising broker must post which records in a conspicuous place at the branch office? 2. may allow unlicensed employees (on a regular salary) to sell the tracts VA association of realtors regulations 3. the licensee must forfeit all commissions earned 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. Which of the following statements is true? 4. the broker is automatically responsible for all actions of any person affiliated with the firm, if the broker knew or should have known of the agents actions, which person would not need a real estate license? 2. file a claim against the salesperson in a court of competent jurisdiction 3. the board, using money from the transaction recovery fund $750,000 3 years 1. a written complaint 1. maintain an office in the state of VA Loyalty; 3. 1. suspending the persons license 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. D. Kerra must wait until there is sufficient money in the Fund before payment, Kerra filed suit against the local Association of Realtors, The Real Estate Board can re-assess licensees if the Transaction Recovery Fund's balance falls below: 2. an administrator who is required to sell a house in order to liquidate an estate 1. only receive referral fees for sending buyers to other salespersons in his office Deal direct w/ agent and save. 3. a broker and the local association of realtors 2. continue to use cards and stationary which state that he is a licensee 4. all of the above, imposing a fine of $5000 for each violation, If a broker acts for more than one party in a real estate transaction without the full knowledge and consent of all parties, it is: Justia US Law US Codes and Statutes Georgia Code 2010 Georgia Code TITLE 43 - PROFESSIONS AND BUSINESSES CHAPTER 11 - DENTISTS, DENTAL HYGIENISTS, AND DENTAL ASSISTANTS ARTICLE 2 - LICENSES FOR THE PRACTICE OF DENTISTRY 43-11-47 - Refusal to grant, or revocation of, licenses; disciplining licensees; subpoenas; judicial review; investigations; immunity; failure to appear; voluntary surrender Grounds for discipline. 1. inform their employing broker 1. the colors on the sign are different than the firms logo colors 2. the licensee may be exempt from the VA landlord tenant act d. The problem may be directed to the North Dakota Real . 3. a real estate developer that has been defrauded in a real estate transaction 2. approving the license exams 1. paying a finders fee to an unlicensed person 3. the broker notify the board within 30 days 3. a real estate transaction A. If the Fund falls below $400,000, the Director may only assess active licensees to restore the Fund 1. Board may reassess licensees: 1. a referral agent Ben suggests that he may be able to help. 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 1. a trustee who is required to sell a house at foreclosure 2. the fee is less than $100 1. pay a license reinstatement fee 1. the friend must be licensed as a broker The property sells on December 20 and closing takes place on January 15. It will attempt to resolve the problem without the necessity of legal expense. 3. impose a fine on any licensee 4. disparate impact, a licensed real estate salesperson may receive money to manage real property from: 3. hold a hearing to allow the licensee to defend herself 3. there is no property address Which entity would NOT involve itself in resolving the matter? Complete instructions on filing a Notice of Appeal are available on the Financial Services Tribunal's website at www.fst.gov.bc.ca or by calling (250)387-3464. Automatically suspend the broker's license CA Real Estate Laws are found in the Business and Professions Code The commission rate to be given by a seller as set forth in the listing agreement is: Negotiated between the broker and seller. 1. principal brokers 3. yes, because suzy must communicate directly with billy Ben and Jerry are communicating via instant messages. A licensee accused in the claim must sell all personal possessions to satisfy the claim The general part of the exam is broken into . 4. both 1 & 3, a salesperson wishes to transfer from one broker to another. 1. the broker notify the board within 10 days 1. an owner who sells no more than three of her own houses in a year 15 days 800,000 2. meet the current educational requirements B. 4. the licensee must submit to reexamination, a broker may not accept which of the following listings? Which of the following statements is correct? 2. maintain an escrow account in VA 4. the real estate board may waive all or part of the prelicensing requirements, the real estate board may waive all or part of the prelicensing requirements, after the death or disability of the only broker in a real estate firm, how long does a board approved person have to conclude the business? 6 licensees and 1 consumer 3. an attorney who is offering real property for sale under court order The licensee named in the claim must post a bond in order to continue practicing real estate 4. both 1 & 3, if a principal brokers license is suspended, what happens to the licenses of any affiliated agents at that firm? 1. has the owners permission 4. seller and broker, Bob, an associate broker, sold a property. 3. a property manager who leases property for the owner in the course of his employement The duties of a real estate licensee owed to a buyer or seller who engages the real estate licensee as a single agent include the following: 1. 1. file a claim against to the licensee to recover the amount paid from the fund The Iowa real estate commission has authority to impose, after proper procedures have been initiated and followed, the following disciplinary penalties: . 1. a person acting without compensation under power of attorney A renewal notice was mailed from the Board, but it was lost in the mail and never received by Mary. C. $600,000 4. must register with the real estate board, may allow unlicensed employees (on a regular salary) to sell the tracts, to obtain a VA real estate license, it is necessary to: 2. be a US citizen Obedience; 5. 2. the tenant must establish an escrow account C. All claims submitted in relation to a licensee's misconduct in a single transaction may not exceed $20,000 4. there is no max assessment, New licensee applicants are required to pay into the Transaction Recovery Fund. 2. mary should apply for reinstatement of her license 1. larry the developer Seller anxious to move. exemption to the real estate licensing law. C. If there is a violation of the Board's regulations 4. location of property, Bill hires Larry to sell his home. A. 2. advise the board within 30 days 696.301. in addition to obtaining a virginia real estate license, what else must a non resident do in order to sell real estate in virginia? 4. supreme court judicial procedures act, Sarah Smith sees an ad from Broker Mark for a custom built home with mountain views, hardwood floors, a theatre room, and a professional kitchen. 3. the real estate board 4. impose a criminal penalty, the real estate board may investigate the activities of a salesperson: 1 year 2. be at least 18 years old 45 hours 4. mail a license directly to the applicant, mail a license to the broker named on the license application, which of the following actions is not an act of real estate brokerage? 2. sue evans in the local court 2. the VA real estate board 3. the business can only be organized as a corporation 2. suspend or revoke any license issued by the real estate board 4. must find a licensed broker to run the business, can only conclude the transactions in the process to facilitate the termination process, In April, Mary took a continuing education course to satisfy her October renewal requirements. 2. their licenses will also be suspended The principal broker has all of the following duties, except: 1. 2. administer the fair housing act 2. kerra has obtained a judgement in court Ben is a licensee and Jerry is interested in locating property in Ben's area. 2. the board will issue her license if she can provide proof that she passed D. He will be reinstated as a salesperson, NOT as a broker, for a period of 2 years, The Real Estate Board could withhold issuance of a new license, forever, If a payment is made on a broker's behalf from the Transaction Recovery Fund, what action does the Board take? 4. a license must be obtained from the real estate board for partnership, both partners must have a brokers license, if any licensee changes his principal place of residence, he must notify: 4. investigate to determine whether a violation might have been committed, investigate to determine whether a violation might have been committed, Owner Kelly is leaving the area for a one year period. 2. what must marty do before he can start selling real estate? Phone 123-4567"? 1. neither susan nor gene is in violation of the law Automatically fine the licensee for $1,000, then schedule a hearing 4. neither 2 or 3, when a salesperson is alleged to have violated the license law, which of the following is true? 4. only be accessible to the public, which person would need a license to sell property on behalf on another? C. The respondent must file bankruptcy and sell all property 1. 3. all claims submitted in relation to a licensees misconduct in a single transaction may not exceed 20,000 2. the friend must have a law degree 4. sentence the licensee to a prison term of no more than 12 months, file a claim against to the licensee to recover the amount paid from the fund, when the transaction recovery fund balance falls below a statutory minimum it results in: Yes, Cindy may accept this rental listing because brokerage fees are always negotiable between the owner and the agent In CA, real estate law is enforced by the: Real Estate Commissioner Trust funds are best defined as: Anything of value to be held for a client or customer. 4. either 2 or 3, A real estate broker pays $50 to an insurance broker for every referral that goes to closing. 4. all of the above, when a salesperson terminates affiliation with a broker, that salesperson must: A. inability to obtain automobile liability insurance, B. habitual intoxication or drug addiction. Ben and Jerry are communicating for the first time via instant messages. 1. was aware of the improper dealings performed by his salespersons Which of the following statements is correct? 1. this is permitted since it is only done occasionally 2. One of the services constituting real estate brokerage in Georgia is acting as a referral agent securing prospects interested in selling or leasing property (O.C.G.A. 2. 1. any other salesperson or cooperating broker, as long as he finds a ready, willing, and able buyer 4. be maintained in a federally insured bank, every resident broker licensed in VA must: 1. the office must have an escrow account The answer is $1,000 for each day the person engaged in the unlicensed practice of real estate. In December 2015, the department received a complaint and opened an investigation into allegations the salesperson was using a Facebook page to . This ad is in violation of the Virginia License Law because: Furnishing substantially inaccurate or incomplete information to the board in obtaining, renewing, reinstating, or maintaining a license; 2. 1. yes, because deposits are held to cover the cost of repairs 10,000, if the board has authorized payment from the transaction recovery fund, what is the effect for the licensee who committed the misconduct? 5 years, licensees must respond to board inquiries within: Answers - 2 Option D is the correct answer for the given question I.e a licensee is obligated to disclose to a consumer the minimum commission split between the licensee and the broker Answers 7 D.license revocation and a fine Any licensee . 3. she may handle up to 6 transactions (listing or sales) in VA 3. it can refuse to accept open listings C. Tony, the mortgage banker 36 months, Which of the following statements is correct if a licensee is leasing his own property, without help from a broker? 3. that she is acting as a referral agent only, and is not active in selling and listing 3. they direct the public through a neighborhood more desirable than the subject property In this situation, which of the following statements is correct? 4. either 1 or 3, which of the following statements must be true about a real estate salespersons license? 1. regulating brokerage fees 3. gene must obtain a brokers license What will happen to Craig's license if he doesn't complete the required courses before renewal? 4. the local realtors association, under the brokers supervision, his unlicensed assistant may: 1. if a written complaint contains prima facie evidence that a violation has occurred 3. yes, because the ad appears on another commercial site 4. he will have to retake the licensing exam, by virginia definitions, which person requires a real estate license? 3. rent apartments for a small fee 1. email In terms of law, real is in relation to land property and is different from personal property while estate means the . 2. the salesperson can only be paid if her license is renewed prior to january 31 3. that she is describing an exclusive agency listing 3. she does not need a real estate to sell her own house 3. permissible, with the written permission the owner 1. engages in acts of brokerage wile on inactive status It is true for all positive real numbers aaa and bbb that a+b=a+b\sqrt{a+b}=\sqrt{a}+\sqrt{b}a+b=a+b? D. Sentence the licensee to a prison term of no more than 12 months, File a claim against to the licensee to recover the amount paid from the Fund, A consumer may file a Transaction Recovery Fund claim for a loss sustained as the result of a licensee's fraudulent act. relocation service of a Corporation, when payment is in the form of entertainment goods services and