Irma Craft, a real estate salesperson for Luckless Realty has an arrangement with RidX Pest Control Services to receive a $25.00 referral fee for any customer she refers to Rid X. D. $400,000, 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? 1. will be issued a temp license by board B. 3. legal, if the insurance broker holds a salespersons license 2. file a claim against the licensee to recover the judgement amount awarded by the court 1. is in violation of the VA license law Seller anxious to move. After that, Tony would handle the mortgages of any buyers through his bank. 1. determining commission splits between all MLS brokers This arrangement between the two is: c) A real estate broker is presumed to know the law governing the regulated real estate activities in which he or she is engaged.
Chapter 16: CA Real Estate License Law Flashcards | Quizlet How to Check a California Real Estate Broker's License: 12 Steps - wikiHow Gene agrees to split the commission with Susan, but advises neither the seller nor the buyer of the agreement. 3. is not in violation of the VA license law, so long as she informs the buyer
a real estate licensee may be disciplined for - rccw.rocks 4. place where the broker maintains transactions and escrow records in a safe deposit box, place where real estate business is regularly transacted, when a salesperson transfers from one broker to another, it is the duty of the former broker to: Question text All real estate licensees are subject to discipline by the REEB as well as litigation.
PDF License Law and Rules Comments - Ncrec 4. hold the license until the salesperson has paid any outstanding bills, send the salespersons license to the real estate board, the VA real estate board is empowered to: A personal loan 2. the VA real estate board 4. it does not include the name of chris firm, it does not include the name of chris firm, which of the following names must appear in any advertisement for real estate? Why is this ad in violation of Board regulations? 40-25(b)(17)). 3. a person that is not licensed in another state 3. hold degree in real estate 1. must be 18 years old Such action is: 3. enable licensed real estate professionals to earn more money $500,000 1. the office must have an escrow account 2. placed on private property without permission of the owner 3. 3. legal, if ellen performed as agreed C. Tony, the mortgage banker 3. an employee of a broker, who negotiates leases 3. a rental location agent 4. pay the required renewal fees, Jan and Bill have a real estate brokerage partnership. 3. the licensee is required to disclose the name of his employing broker 1. a brokers license must be renewed on june 30 of every even numbered year 2. continue to use cards and stationary which state that he is a licensee A. Kerra filed suit against the local Association of Realtors 2. mail his or her license to the board 1. an attorney who is licensed to practice law in VA Placement of directional signs is illegal if: Seller anxious to move. 2. it may be supervised by a salesperson with 3 years experience May Cindy accept this rental listing? 2. 3. a college grad 1. move to VA within six months of licensure Call Paula after 5 at 123-4567." She plans to rent her condominium in that time period, and asks Salesperson Cindy to handle the rental. . D. $900,000, The minimum balance of the Virginia Real Estate Transaction Recovery Fund is: 1. to make licensed real estate agents more professional Larry, Darrell, and Tony all file claims for payment from the Transaction Recovery Fund. This ad is in violation of the Virginia License Law because: 3. a real estate developer that has been defrauded in a real estate transaction 2. apply for a temp license until he affiliates with a broker 3. listing broker Holding more than one license as a real estate broker or salesperson in Virginia except as provided in this chapter; 3. 2. hold a bachelors degree in real estate 3. 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 The agent orders the home inspection from a friend, who then pays him a referral fee. 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: Mary didn't realize until January that her license had expired. 1. that she is not affiliated with a brokerage firm or sole proprietor 1. your brokerage firm will accept a lower commission rate 1. raising the price on a contract in order to influence a lender 3. has a written listing agreement 2. a salesperson with 5 years experience may run the office 1. the licensee has 4 years to repay the fund 16 hours within the first two years 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. inform his employing broker 1. boren must work through his broker 4. brokers must renew their licenses every two years in the month that it was issued, brokers must renew their licenses every two years in the month that it was issued, a non resident VA salesperson is required to do which of the following? 2. reimburse aggrieved persons 18VAC135-20-260. Rules and Laws Our license holders are governed by the Texas Real Estate License Act, the Inspector Act, and the Timeshare Act. 2. endorse the check and give it to his employing broker 4. taking a listing, a non resident broker may open an office in VA, provided she does which of the following? A. a licensee's obligation of confidentiality ends at the 1. member of the MLS 4. sign an affidavit that they understand the laws in the state of VA, take and pass the VA portion of the licensing exam, the real estate board is responsible for: 1. seller Which circumstance might also put the employing broker at risk of disciplinary action? Ben and Jerry are communicating via instant messages. B. A. Allison is guilty of: 3. the agents name appears before the brokers name During this period, Adam: 3. both the tenant and owner are subject to board regulations 24 months 2. not exceed 500 square feet in size 4. when a claim is paid, the respondents license will be automatically suspended, kerra the consumer has filed a claim for payment from the transaction recovery fund. Foster used the security deposits of two tenants (Petri and Gonzales) for general maintenance on the apartment building. 3. be furnished to the board every 3 years another offer during negotiations on a purchase contract, C. A licensee is required to keep confidential the price the 1. in VA, anyone who sells real property must have a real estate license 6 brokers, 2 salespersons, and 1 attorney B. 1. place where real estate business is regularly transacted She goes to the address and finds that the listed property is actually a motor home. Which of the following statements is correct? 2. to protect the public interest 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: 3. automatically revoke the brokers license License Categories [G.S. The Provisions of the Real Estate Licensing and Registration Act apply to a. a trustee who participates in real estate transactions under the authority of a court order b. an attorney at law who participates in real estate transactions on behalf of a client c. a real estate licensee selling real estate she owns 1. if a written complaint contains prima facie evidence that a violation has occurred This arrangement is: Grounds for disciplinary action by the commissioner. 1. be at least 18 years old D. When a claim is paid, the respondent's license will be automatically suspended, 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? Jack's email: 2. illegal, because ellen can only accept money from her broker 2. encourage higher education in real estate 4. principal broker, A tenant lives in a four-unit apartment building.
4 Ways to Become a Real Estate Agent - wikiHow commission rates charged by members of the MLS are established by: 3. tell the seller that there is an offer, but it will have to wait until monday to be presented 3. tony the mortgage banker 2. approving the license exams 3. the fee is acknowledged, in writing, by the parties to contract 1. failing to get a clients written consent to advertise his property 3. matters outside the scope of its authority Who is most likely to collect? When she returned on January 6, she realized that her license had expired on December 31. Since the ad must be small, Robert makes no disclosures in the banner itself. The ad reads, "3 bedroom, 2 bath, rambler; below market; good location; call 555-3421." 2. it is prominently displayed in the main office of the salespersons firm 2. post a bond 1. a trustee who is required to sell a house at foreclosure A study was conducted in which students were asked to estimate the number of calories in a cheeseburger. 3. a trustee, appointed by a court 2. the fee is less than $100 Full disclosure; 6. 4. illegal, unless properly disclosed, illegal, because ellen can only accept money from her broker, the real estate board has power to take all of the following actions, except: 4. all of the above, What is wrong with this advertisement: "3 bdrm, 2 ba, $75,000. 2. be 21 years old 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. 3. impose a fine on any licensee 1. disclosures C. Provide retirement income for brokers 3. a claimant may collect up to 20,000 Has Larry violated the rules? can conduct business under a fictitious name. which of the following must be incorrect? State whether you think the rule is true. 4. 4. she must affiliate with a licensed VA broker, Angela operated her own brokerage firm until she unexpectedly passed away. 3. with written permission of each broker Automatically fine the licensee for $1,000, then schedule a hearing 4. none of the above, a broker may place a sign on a property when he: 2. can only conclude the transactions in the process to facilitate the termination of the business 1. a court of competent jurisdiction 2. protect the public interest 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. 2. return his or her license to the board 2. the investor must hire a broker to manage the business 2. have a desk for every 5 agents 1. immediately present the offer 3. all claims submitted in relation to a licensees misconduct in a single transaction may not exceed 20,000 3. file a complaint with the real estate board 3. the clerk must be licensed as a broker 1. the friend must be licensed as a broker 3.1.1 A public member shall not be, nor have been within the last five (5) years prior to the effective date of appointment, a real estate licensee. 4. both 1 & 3, if a principal brokers license is suspended, what happens to the licenses of any affiliated agents at that firm? 2. must complete 145 credit hours of courses approved by the board
PDF CHAPTER 4 DISCIPLINE AND HEARING PROCEDURE [Prior to 6/15/88, see Real For failure to pay an assessment to the TRF within 10 days A. inability to obtain automobile liability insurance, B. habitual intoxication or drug addiction. transactions on behalf of a client, c. a real estate licensee selling real estate she owns, d. a licensed auctioneer who is auctioning property. 4. salesperson license, A salesperson decides to offer a $500 referral bonus to anyone that finds an acceptable buyer for his listing. 120 hours 4. any of the above, Owner Chaney tells Broker Fowler that she will list her property if he guarantees that she will receive $38,500 cash once the sale is complete and all expenses have been paid. Grounds for discipline. B. Which of the following statements is correct? 3. if there is a violation of the boards regulations B. Kerra has obtained a judgement in court who does not have a Pennsylvania real estate license? A. 2. 4. must be displayed in the branch office where she is assigned, must be kept at the employing brokers main place of business, Two brokers are involved in a dispute over splitting a commission. After moving to Virginia, her neighbor finds out about this experience and asks Carla to sell his home. 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. 1. file an annual report with the board which details the activities of each location No, but the listing may be accepted by Cindy's broker, who in turn will pay Cindy the brokerage fee 2. illegal
339.100 - Missouri Revisor of Statutes Which of the following persons could become licensed without taking an examination? 4. impose a penalty of up to one year in prison, impose a penalty of up to one year in prison, A salesperson took a listing on October 15. The general part of the exam is broken into . 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. a broker and a salesperson, but only if there is a violation of license law, a broker and a salesperson, but only if there is a violation of license law, Which person is designated to ensure compliance with Virginia license law and be responsible for the activities of the entire firm? Under what circumstances may listing real estate broker in 10,000 4. unlicensed persons cannot own a real estate brokerage, the investor must hire a broker to manage the business, juan obtains his license on may 3. how much continuing education must juan complete? 2. the VA real estate board 2. no, because bill is larrys client the authority of a court order, b. an attorney at law who participates in real estate Disciplinary Action. 1. no, because he acted in suzys best inerests 3. gene must obtain a brokers license Which of the following statements is NOT true? 1. an owner who sells no more than three of her own houses in a year 4. cash the check, but inform bob, a real estate salespersons license may be revoked if the licensee: The salesperson can pay this referral bonus to: C. $50,000 D. None of the above, If the Board has authorized payment from the Transaction Recovery Fund, what is the effect for the licensee who committed the misconduct? 2. this is proper as long as jan remains the senior partner 3. 2. maintain an escrow account at an insured depository in the state 1. a person who, for compensation, helps to sell his neighbors home 2. 1. investigate the actions of any real estate broker or salesperson 3. employed by another broker Refer to the information presented on the exercise related to Wilson Towing Service. 1. an attorney at law 1. the principal broker Prohibited acts. 1. kerra filed suit against the local association of realtors 1. yes, because the required disclosures must appear in the ad itself A licensee has been found to have committed acts prohibited by C. All claims submitted in relation to a licensee's misconduct in a single transaction may not exceed $20,000 20 every two years 4. What is the first thing Lynch should do? 2. gives a reduced commission rate to a family member 2. 4. gene may continue to operate under his existing sales license, Two brokers are involved in a dispute over a commission split. 2. 1. a fictitious name 20,000 2. the brokers name is missing 3. What must the licensee do if she wants to remain licensed? 4. complies with the regulations, so long as it is at least 12 point, bold font, John is holding an open house. 1. inform their employing broker 2. boren must put through $45 in an interest bearing escrow account 4. none of the above, when a broker renews his license, which of the following must accompany that renewal application? Ben is a licensee and Jerry is interested in locating property in Ben's area. Which of the following is the maximum penalty that 1. take and pass the VA portion of the licensing exam 600,000 2. that she has an unrealistic opinion on the value of the property 2. failing to disclose adverse zoning that affected the property 2. the salesperson is entitled to a jury trial before any action can be taken $20,000 Prior to actually running the ad, the developer receives an offer for the $10,000 lot which he intends to accept. 1. commingling person has to apply to the Real Estate Recovery Fund after final Fred thought Sarah did such a good job, he sent her a $500 bonus. 3. after conducting a hearing His license is automatically reinstated 1. assures a quick sale because the broker knows the sellers exact position A second group was asked to do this after thinking about an organic fruit salad. Regulatory Affairs: 919-719-9180. 3. the real estate board
a real estate licensee may be disciplined for Which of the following statements must be incorrect? 4. plans to hold an open house, an award from the transaction recovery fund will result in: 1. his or her broker B. Darrell, the contractor
2925 Real Estate Commission Education Committee - Delaware 2. does not comply with the regulations 4. 2. darrell the contractor Skill, care, and diligence in the transaction; 8. When this information leads to a sale, Berry pays her $100 for the tip. 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. 4. this is a good sales strategy, Broker Evans fired Sally because she was stealing from the petty cash fund. 4. all of the above, a consumer that has been defrauded in a real estate transaction, what is required in order to be eligible for a VA salespersons license? Generally, you can expect that your state real estate agent license exam will consist of 80-100 multiple-choice questions about general real estate concepts and 60-80 questions specific to state licensing laws. 1. larry the developer 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: 2. associate brokers and salespersons 2. 3. selling a business for a relative 2. a broker licensed in another state 2. it can establish minimum and maximum commission rates 2. impose a monetary penalty of up to $1,000
6 Common Violations for Real Estate Brokers in California 2. administer the fair housing act What should he do? 4. only be accessible to the public, which person would need a license to sell property on behalf on another? 3. the licenses of all salespersons working in the office One group was asked to do this after thinking about a calorie-laden cheesecake. 3. one of the partners may be unlicensed Neither Cindy nor her broker may accept this listing . 3. the old broker 3. the friend need not be licensed the broker is guilty of: 1. 3. maintain an escrow account in VA
ORS 696.301 - Grounds for discipline 3. 3. conversion File a claim against the licensee to recover the judgement amount awarded by the court 3. affiliate with a broker and submit an application for licensure 2. general listing 2. the claimant assigns his rights to the board, to the extent of the amount of money paid by the fund