13830176d2d515a9785127a74 a real estate licensee may be disciplined for

License Categories [G.S. A broker may be disciplined for all of the following EXCEPT: Placing a definite expiration date in an exclusive listing agreement. A. inability to obtain automobile liability insurance B. habitual intoxication or drug addiction C. nonpayment of federal income taxes D. any felony conviction Expert Answer 100% (1 rating) A real estate licensee 3. the code of ethics for real estate professionals 3. a person acting under a power of attorney without compensation 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 . 1. a written complaint 4. Automatically fine the licensee for $1,000, then schedule a hearing 2. may allow unlicensed employees (on a regular salary) to sell the tracts dream11 kabaddi team today; political journalist jobs near hamburg; 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. The license will be automatically revoked File a claim against the licensee to recover the judgement amount awarded by the court In December 2015, the department received a complaint and opened an investigation into allegations the salesperson was using a Facebook page to . 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: This type of agreement: 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: Pennsylvania split a Commission or pay a referral fee to a person 1. a salesperson licensed in another state 2. file a claim against the salesperson in a court of competent jurisdiction 1. offer to sell, purchase, or exchange real estate on behalf of another for a fee She plans to rent her condominium in that time period, and asks Salesperson Cindy to handle the rental. 2. the licensee notify the board within 10 days 400,000, In a single transaction, what is the maximum amount that a person can collect from the Transaction Recovery Fund due to licensee misconduct? 4.11(2) If the licensee chooses, the licensee may be represented by an attorney at the informal dis-cussion at the expense of the licensee. 1. attest to a prescribed level of competency Ben and Jerry are communicating via instant messages. 2. branch license A second group was asked to do this after thinking about an organic fruit salad. 21 days Go to the website www.studentaid.ed.gov and list at least five basic eligibility requirements to receive student aid. 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 Which of the following statements must be incorrect? 3. automatically revoke the brokers license 1. send a copy of the charges to the salesperson at his last known business address 7 licensees (with at least 3 years experience) and 2 consumers He works out a deal with Larry (a developer), Darrell (a contractor), and Tony (a mortgage banker). C. Does not pay the Transaction Recovery Fund assessment 4. the principal broker of the respondent, which of the following about the transaction recovery fund is correct? transactions on behalf of a client, c. a real estate licensee selling real estate she owns, d. a licensed auctioneer who is auctioning property. Furnishing substantially inaccurate or incomplete information to the board in obtaining, renewing, reinstating, or maintaining a license; 2. 4. principal broker, A tenant lives in a four-unit apartment building. 2. no, because bill is larrys client Ben and Jerry are communicating for the first time via instant messages. 3. all claims submitted in relation to a licensees misconduct in a single transaction may not exceed 20,000 commission split between the licensee and the broker, What is the maximum time an aggrieved 4. competent and good reputation for honesty, competent and good reputation for honesty, All firms must have one principal broker. Fiduciary duties are owed to both buyer and seller. An investment in a limited real estate partnership ORS 696.301 - Grounds for discipline 4. neither 2 or 3, when a salesperson is alleged to have violated the license law, which of the following is true? A real estate licensee may be disciplined by the Pennsylvania real estate commission for which of the following reasons? 93A2] 1. upon demand by the board Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general. A. 1. send the salespersons license to the new broker 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 2. yes, as long as the owner is aware of it B. Darrell, the contractor 2. may accept the listing by virtue of her current wisconsin license 4. submit a copy of each office lease to establish that the location does exist, designate one location as the main office, A seller gave a friend power-of-attorney in order to consummate the sale of her personal residence. 4. none of the above, a broker would not be in violation of VA license law if he: 1. with a written consent from the owner only 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: 3. Rainy tells Cindy that she wants $500 per month for the rental and Cindy may have any amount over $500. 2. Chapter 16: CA Real Estate License Law Flashcards | Quizlet 3. that she is acting as a referral agent only, and is not active in selling and listing 1. regulating brokerage fees 1. inform their employing broker B. Main: 919-875-3700. 2. the tenant must establish an escrow account Upon request, the court appoints a receiver to manage the account. Therefore, Robert decides to advertise his firm via banner ads on commercial web pages. 4 years Call Paula after 5 at 123-4567." 4. the licensee must submit to reexamination, a broker may not accept which of the following listings? He still needed to take one more continuing education course before his license expiration date. 30 hours within the first year 2. post office box 2. an appraiser Note that a real estate "licensee" is NOT au-tomatically a "REALTOR." A licensed real estate agent is a REALTOR only if he/she belongs to the National Associa - tion of REALTORS, a private trade association. statement regarding the duties a licensee owes to the 1. the salesperson is entitle to receiver her commission 2. file a claim against the licensee to recover the judgement amount awarded by the court A real estate licensee may be disciplined by the Pennsylvania real estate commission for which of the following reasons? Susan, also an independent broker, sells the property. 3. an office cannot operate on a residential property 4. apply to have her license placed on inactive status, apply for reinstatement of her license and pay a fee, the real estate license of any person or firm may be revoked by which of the following entities? . 3. hold degree in real estate 3. seller and salesperson 1. the principal broker 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. Which circumstance might also put the employing broker at risk of disciplinary action? 1. be retained by the principal broker indefinitely Standard of Practice 1-2. 4. a broker may mange two separate office if they are within three miles of one aother, it must be supervised by an on premises principal or associate broker, an applicant must meet which of the following in order to become a salesperson or broker? Who is most likely to collect? Visit their website for more details and the most current disciplinary action. 2. a broker licensed in another state In the situation described, which of the following statement is true? 3. is not in violation of the VA license law, so long as she informs the buyer 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: 4. salesperson license, A salesperson decides to offer a $500 referral bonus to anyone that finds an acceptable buyer for his listing. 4. B. Violates the Virginia Real Property Act another offer during negotiations on a purchase contract, C. A licensee is required to keep confidential the price the 4. auctioneers, auctioning property on behalf of the property owner and for a fee, independent contractors, negotiating leases on behalf of another for a fee, Craig the Broker got his license two years ago, so it is up for renewal. 3. hold a hearing in order to allow the licensee to defend himself Not flaggedFlag question 1. it can only accept residential listings All real estate licensees are subject to discipline by the REEB as well as litigation. 6 licensees and 1 consumer 2. upon revocation of the brokers license B. . The ad reads, "beautiful rambler, excellent assumption. 5 years, licensees must respond to board inquiries within: 3. encouraging a homeowner to sell since minorities are moving into the neighborhood 4. both 2 & 3, Jane has been out of town on personal business. 2. that she had no sales or listings during the preceding 12 months VA real estate board 1. maintain an office in VA 3. less than 20 hours per week The Board now has the right to: B. A) Cynthia, age 55, who has a master's degree and has lived in Alabama for the past five years. 3. be furnished to the board every 3 years 3. person selling industrial real estate full time 1. responsible for all escrow accounts 3. conversion 3. only with the approval of the principal broker Larry has: Exceeded the scope of his authority and violated real estate law. 3. One night, Larry replies to one of Bill's emails, but includes none of the required disclosures. 2. a salaried property manager is employed to manage the apartment and lease individual units In the context of this study, what is the meaning of the Type I error? Which of the following statements is correct? After that, Tony would handle the mortgages of any buyers through his bank. 1. take listings over the phone d. The problem may be directed to the North Dakota Real . 4. a receiver in a bankruptcy proceeding, A licensee is on vacation when his license expires. 2. uniform commercial code 3. meet the current educational requirements and pay the renewal fee 4. the licensee may continue to sell real estate if a court has adjudicated him as bankrupt, the license will be automatically revoked, if a payment is made on a brokers behalf from the transaction recovery fund, what action does the board take? 4. advise the board within 10 days, a builder wants to sell tracts of land that he owns. District of Columbia, a territory, a foreign nation, or a governmental agency authorized to impose discipline if at least one of the grounds for that discipline is the same as or the equivalent of one of the grounds for which a licensee may be disciplined under this Act. 1. the ad fails to include the property address Vera is a licensed salesperson with Broker Tom, but Tom is going to close his office. 3. must have been active as a salesperson for 3 years 1. 4. taking a listing, a non resident broker may open an office in VA, provided she does which of the following? 3. advertising that a property listed by a firm is for sale by owner 1. fraud 24 months (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.) 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: 2. 2. gives a reduced commission rate to a family member 3. principal brokers license 2. suspend or revoke any license issued by the real estate board 1. a resident of VA 3. failing to inform the seller of the ethnic character of a buyer 500,000 3. the renewal fee, plus proof of membership in the association of realtors 4. none of the above, a real estate licensee is required in order to: If possible, try to find a counterexample (a set of numbers for which the rule is not true). 2. automatic revocation of the real estate license year, Soliciting listings in a multi-ethnic neighborhood, preparing a listing contract that leaves the duration this person: 1. real estate transaction recovery act 2. land tort reform act 3. real estate license law 4. virginia fair housing act, the real estate board regulates: 1. the wording contained in standard exclusive right to sell listing agreements 2. disputes between brokers or salespersons 3. the real estate licensing examination 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. write a thank you note to kirks 2. tell the buyer it will have to wait until monday Method 1 Qualifications and Education 1 Find out the licensing requirements where you live. 2. darrell the contractor B. 3. be actively licensed for the last 48 months in their home state 4. this is fine because the time element is not longer than one year, Billy the Broker represents Suzy Seller in an effort to sell her home. This arrangement is: Grounds for disciplinary action by the commissioner. 3. it is prominently displayed in the branch office where the salesperson works 4. 3. permissible, with the written permission the owner 100,000 One group was asked to do this after thinking about a calorie-laden cheesecake. 3. name of the brokers firm Credit card sales (2% credit card fee)$250,000. 2. endorse the check over to bob 2. that she has an unrealistic opinion on the value of the property 3. this is not permissible because the $100 fee must be paid to smith through berrys employing broker 2. is ready to advertise the property 3. publish a list of persons that have been granted licenses 3. advise the board when their license is renewed 3. administer the transaction recovery act 4. the brokers actions violate anti trust laws, such actions could be viewed as creative selling, which does not violate license law or board regulations, An owner lists property with a broker. A public member shall have a high school diploma, or the equivalent, and shall have a minimum of five (5) years experience in a professional capacity, other than as a real estate licensee. judgement, The Provisions of the Real Estate Licensing and Registration Act 3. a broker and the local association of realtors 3. her license will be temporarily suspended until the board can hold a hearing But to earn the trademarked title of "Realtor," a real estate licensee must officially join the National Association of Realtors, the largest trade organization in the country representing almost 1.6 million members. When representing a seller, which of the following is a TRUE Broker Fowler should tell Owner Chaney: Grounds for discipline. Which of the following entities could become involved in settling the matter? 1. A. 3. the licenses of all salespersons working in the office 2. no property location specified 3. the board, using money from the transaction recovery fund which of the following must be incorrect? 4. a friend, relative, or builder, The Board believes that a broker is not properly managing her escrow account. 20,000 a real estate licensee may be disciplined for. 2. an auctioneer Real estate - Wikipedia 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? Why is this ad in violation of Board regulations? Ben suggests that he may be able to help. 3. a salesperson that is also licensed as a rental location agent 4. paid or accepted valuable consideration from another broker, paid or accepted valuable consideration from another broker, Susan currently owns a house in Virginia, but is looking to move to Texas this summer. Which of the following statements is true regarding the advertisement? 3. 2. have all earned commissions placed in an escrow account Who is most likely to collect? 3. only if the salesperson is an employee of the broker, not an independent contractor C. Only to revoke the license, as provided by Virginia law 339.100 - Missouri Revisor of Statutes 45 hours of post license education 20,000 the expanding universe activity 2 answer key / mahjong tiles engraving / mahjong tiles engraving 3. yes, because the ad appears on another commercial site Our online system provides more efficient services to those applying for a Real Estate Broker and Salesperson license. 1. the executor of an estate 2003-2023 Chegg Inc. All rights reserved. 10,000 Call Chris at 555-0000 for details." 2. the VA real estate board 2. acting for both buyer and seller with their mutual consent Who is responsible for the expenses and fees of the court-appointed receiver? A real estate license entitles a licensee to represent a client in: Loan brokerage, business opportunities, and property management activity. According to the real estate commissions regulations, an statement, when the referral fees paid to an unlicensed employee 4. none of the above, a broker may place a sign on a property when he: 4. the enforcement branch of DPOR, a court having jurisdiction over the brokers, the real estate board is responsible for: Question text 2. listing salesperson 1. associate broker 1. 3. with written permission of each broker 3. a claimant may collect up to 20,000 3. associate brokers C. $100,000 Which of the following is the maximum penalty that 1. get her license from tom and take it to jane 3. improper dealing 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: 2. approving the license exams Bill dies, so Jan wants to allow Gene (a salesperson with 8 years experience) to replace him. 4. do nothing, a person applying for a license by reciprocity must: Unit 26: Washington License Law Enforcement (11%) 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. 4. it is kept in the custody of the employing broker, it is kept in the custody of the employing broker, when a broker or salesperson license is renewed, the licensee must: 4. salespersons broker, If the Board honors a claim and authorizes payment from the Transaction Recovery Fund, the claimant subrogates his rights to the Board. 2. boren must put through $45 in an interest bearing escrow account Wisconsin Real Estate Magazine: Bust a Deal, Face the Wheel - WRA 4. there is no max assessment, New licensee applicants are required to pay into the Transaction Recovery Fund. A real estate license is an authorization issued by a government body to give agents and brokers the legal authority to represent a home seller or buyer in a real estate transaction. Which of the following statements is correct? The California Real Estate Law provides, in pertinent part (at section 10131 of the California Business and Professions Code), that a "real estate broker" license is required for "a person who, for a compensation or in expectation of a compensation, regardless of the form or time of payment, does or 4. she must affiliate with a licensed VA broker, Angela operated her own brokerage firm until she unexpectedly passed away. 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. 1. any other salesperson or cooperating broker, as long as he finds a ready, willing, and able buyer 1. a firm partner who does not participate in the brokerage business 4. the board, using money from its operating budget, the board, using money from its operating budget, A postal employee has a friend, Berry, who is a real estate salesperson. Which of the following statements is correct? Which of the following disclosures must Ben make? 3. In order for Kathy to collect, she must have already: An assessment from all licensees to restore the fund to the minimum balance 4. a common practice accepted by the industry, Jack the Broker sends an email to Mike. Thus, the term REALTOR should not be used to generally refer to all real estate licensees. B. 1. yes, because deposits are held to cover the cost of repairs Arizona Department of Real Estate 1. yes, because the rules require specified disclosures in emails 3. a rental location agent Fowler may have anything over that amount as commission. 4. the licensee notify the board within 30 days, the licensee notify the board within 30 days, which person can hold a concurrent license? The Real Estate Board could withhold issuance of a new license, forever Larry, knowing that Mark will benefit from the extension because he will not be given possession of the house he has purchased until his sale closes, signs Mark's name to an addendum extending the closing. 1. establish standardized listing and sales contract agreements 3. rent apartments for a small fee 2. a consumer that has been defrauded in a real estate transaction Loyalty; 3. A. 30 hours before he can actually receive his license, VA license law defines a brokers place of business as a: $400,000 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.

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