3. in newspaper ads consisting of more than 28 lines of copy 1. investigate the actions of any real estate broker or salesperson 3. ben must disclose his email address 3. a real estate developer that has been defrauded in a real estate transaction Administrative Discipline: What are the Possible Sanctions? 3. filed a claim against the salespersons broker 100,000 D. $900,000, The minimum balance of the Virginia Real Estate Transaction Recovery Fund is: 4. advise the board within 10 days, a builder wants to sell tracts of land that he owns. 1. the business name must include the name of the investor 2. it does not include the property address The Board appoints her son, Adam, to operate the business for 180 days. 2. not exceed 500 square feet in size 4. with written permission of the association of realtors, with written permission of the VA real estate board, the real estate board is responsible for: 1. open listing The general part of the exam is broken into . 3. hold a hearing in order to allow the licensee to defend himself 3. his license will expire 2. an investment in a limited real estate partnership 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. 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. Arizona Department of Real Estate 2. pay a $200 fee and reapply for the license Larry, Darrell, and Tony all file claims for payment from the Transaction Recovery Fund. 2. it is prominently displayed in the main office of the salespersons firm 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? 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. 2. is ready to advertise the property His license is automatically reinstated 1. a court having jurisdiction over the brokers Real Estate Brokers & Salespersons - Michigan 2. continue to use cards and stationary which state that he is a licensee 1. suspension of his license and a fine 4. impose a criminal penalty, the real estate board may investigate the activities of a salesperson: 1. for failure to pay an assessment to the TRF 3. this is fine because the compensation is less than $1000 3. administrative process act 2. member of the MLS 3. a rental location agent 4. be maintained in a federally insured bank, every resident broker licensed in VA must: No, but the listing may be accepted by Cindy's broker, who in turn will pay Cindy the brokerage fee For failure to pay an assessment to the TRF within 10 days 2. it may be supervised by a salesperson with 3 years experience 4. both 1 & 3, A motel clerk provides a few leads to a broker in exchange for a percentage of the commission. what must marty do before he can start selling real estate? Licensing - Arkansas Real Estate Commission 2. this is proper as long as jan remains the senior partner 4. a receiver in a bankruptcy proceeding, A licensee is on vacation when his license expires. 20 2. 1. 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. the expanding universe activity 2 answer key / mahjong tiles engraving / mahjong tiles engraving real estate commission for which of the following reasons? 2. a salesperson who holds a business entity license 50,000 1.00 points out of 1.00 3. 2. mail a license to the broker named on the license application 3. place that is managed by a senior salesperson 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. C. Tony, the mortgage banker 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. the ad fails to disclose that the owner is a licensee Which of the following statements is correct? 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. She started looking for new firms after the accusations were made, but can't transfer until her license is returned to the Board. 1. a resident of VA 3. selling a business for a relative Which of the following statements is true? 1. it can only accept residential listings Statutes & Constitution :View Statutes : Online - Florida Legislature 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. 2003-2023 Chegg Inc. All rights reserved. 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. Susan, also an independent broker, sells the property. 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 . 2. bob may accept the bonus if more than 30 days have passed since closing 2. that she has an unrealistic opinion on the value of the property This could be drug and alcohol related crimes, in addition to crimes with elements of fraud, dishonesty, and misrepresentation. 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. 4. Questions & Answers - Florida Real Estate Pre-Licensing & Exam Prep 1. an assessment from all licensees to restore the fund to a minimum balance in addition to obtaining a virginia real estate license, what else must a non resident do in order to sell real estate in virginia? 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 Option D is View the full answer 4. filed a claim with HUD, filed a claim against the salesperson in a court of competent jurisdiction, which of the following persons may file a claim and collect from the VA transaction recovery fund? A. . A) Cynthia, age 55, who has a master's degree and has lived in Alabama for the past five years. unspecified. 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. 2. only upon receipt of a written complaint setting forth the alleged violation 4. must be in good standing in any jurisdiction where licensed, must complete 145 credit hours of courses approved by the board, For a corporation licensed to engage in real estate business, which individual is primarily responsible for those real estate activities? 10,000, if the board has authorized payment from the transaction recovery fund, what is the effect for the licensee who committed the misconduct? 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 Ben and Jerry are communicating for the first time via instant messages. 3. is not in violation of the VA license law, so long as she informs the buyer Since the ad must be small, Robert makes no disclosures in the banner itself. judgement, The Provisions of the Real Estate Licensing and Registration Act 4. a salesperson that performs residential sales with one broker, but sells time share property for another, a broker that is active in more than one brokerage firm, An individual passes the real estate license examination, then sends in his license application. 2. the VA real estate board 1. an executor of a will 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. Refer to the information presented on the exercise related to Wilson Towing Service. 3. conversion 3. employed by another broker 10 hours, Two individuals want to form a real estate partnership in Virginia. 4. Therefore, Robert decides to advertise his firm via banner ads on commercial web pages. 3. the salesperson cannot be paid 1. A broker may be disciplined for all of the following EXCEPT: Placing a definite expiration date in an exclusive listing agreement. 4. be a resident of VA, by VA regulation, a licensee that is "actively engaged" is defined as someone who works: 1. investigate the dealings of any real estate broker or salesperson Suppose that the study was based on a sample of 20 people who thought about the cheesecake first and 20 people who thought about the organic fruit salad first, and the standard deviation of the number of calories in the cheeseburger was 128 for the people who thought about the cheesecake first and 140 for the people who thought about the organic fruit salad first. 180 2. the claimant assigns his rights to the board, to the extent of the amount of money paid by the fund Susan decides to sell her own house. 2. boren must put through $45 in an interest bearing escrow account A. inability to obtain automobile liability insurance, B. habitual intoxication or drug addiction. Real estate agents and real estate brokers are required to be licensed when conducting real estate transactions in the United States and many other countries. 4. illegal, a salesperson could have his license suspended or revoked for which of the following reasons? 1. complete the mandatory postlicense education requirement 4. The DRE grants licenses to Real Estate Brokers and Salespersons. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. 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? 1. an investigation will be conducted unless the law specifically provides otherwise Box 1339 Jefferson City, MO 65102-1339 573.751.2628 Telephone 573.751.2777 Fax . 36 months, Which of the following statements is correct if a licensee is leasing his own property, without help from a broker? 3. matters outside the scope of its authority Confidentiality; 4. 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. 4. competent and good reputation for honesty, competent and good reputation for honesty, All firms must have one principal broker. 2. their licenses will also be suspended 1. take the continuing education course 900,000, if a person wants to make a claim from the transaction recovery fund, where should this claim be filed? 4. 3. provide retirement income for brokers 3. the respondent must file bankruptcy and sell all property 3. a trustee, appointed by a court 3. an office cannot operate on a residential property 1. was aware of the improper dealings performed by his salespersons 3. associate brokers 2. principal broker 3. her employing broker File a claim against to the licensee to recover the amount paid from the Fund 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. 2. to protect the public interest 1. name of the listing salesperson 2. advise the licensee of the charges 3. that she is describing an exclusive agency listing 3. a court of law having jurisdiction over the brokers 11:5-4.5 by failing to properly supervise as the branch office manager. 3. gene must obtain a brokers license Mark is guilty of: 193E4.2(543B) Method of discipline. 4. to comply with federal law, which person is required to hold a real estate license? 1. 210, mart fields just found out that he passed the VA real estate sales exam. 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. 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. 4. cash the check, but inform bob, a real estate salespersons license may be revoked if the licensee: 1. fraud 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? 1. mary is required to retake the license examination in order to reinstate her license what must be included in this property advertisement? 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. maintain an escrow account at an insured depository in the state 100,000 Larry has: Exceeded the scope of his authority and violated real estate law. 1. the court that appointed the receiver 1. be retained by the principal broker indefinitely 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 1. she must retake the exam 3. chairman of the board commission split between the licensee and the broker, What is the maximum time an aggrieved 2. 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. Furnishing substantially inaccurate or incomplete information to the board in obtaining, renewing, reinstating, or maintaining a license; 2. 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. 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. 1. if the fund falls below 400,000, the director may only assess active licensees to restore the fund Several weeks after closing, the seller sent him $250 and a thank you note for a job well done. Credit card sales (2% credit card fee)$250,000. 2. send a copy of the charges to the salespersons broker at the brokers place of business 10 days 2. revoking the persons license 40-25(b)(17)). 1. automatic suspension of the real estate license 3. must be kept at the employing brokers main place of business 4. 3. upon the request from the salesperson to transfer to another broker . 3. enable licensed real estate professionals to earn more money 1. maintain an office in the state of VA C. $750,000 1. only receive referral fees for sending buyers to other salespersons in his office 2. no, because it is permissible to provide a link to the required disclosures 2. 3. impose a fine 3. if the owner is a non resident of VA 2. if the agents actions were outside the authority granted by the employing broker 6 licensees and 1 consumer 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: 2. mail his or her license to the board 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. California Real Estate Principles (Chapter 18), Chapter 16: California Real Estate License Law, Real Estate Principles - Chapter 17 (Real Est, Chapter 15: Property Management and the Landl, Chapter 17: Real Estate Residential Construct, Alexander Holmes, Barbara Illowsky, Susan Dean, Anderson's Business Law and the Legal Environment, Comprehensive Volume, David Twomey, Marianne Jennings, Stephanie Greene, John David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine, Neuro II - Exam 2 Ch. 2. does not comply with the regulations 4. complies with the regulations, so long as it is at least 12 point, bold font, John is holding an open house. 30 in a two year period, Kerra the Consumer has filed a claim for payment from the Transaction Recovery Fund. 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: B. agreement of sale MUST contain the. 3 years 3. the broker and the seller 3. her license will be temporarily suspended until the board can hold a hearing 2010 Georgia Code - Justia Law 3. renew his license every 2 years by paying the renewal fee 4. all of the above, a real estate license could be suspended without investigation if the licensee: 2. VA association of realtors regulations D. Provide funds for the Board's operating expenses, Reimburse financial losses caused by licensee misconduct, If the Board honors a claim and authorizes payment from the Transaction Recovery Fund, the claimant subrogates his rights to the Board. Real Estate Commission - Missouri What will happen to Craig's license if he doesn't complete the required courses before renewal? B. 12 Practice Questions. dream11 kabaddi team today; political journalist jobs near hamburg; 4. affiliate with a licensed VA broker, A licensee was out of town on personal business. 750,000 1. an auctioneer 2. he can pay a fine to extend the renewal date 3. a person that is not licensed in another state A licensee has been found to have committed acts prohibited by D. The licensee may continue to sell real estate if a court has adjudicated him as bankrupt, The license will be automatically revoked, Mosley Virginia Real Estate Test (Practice), Elliot Aronson, Robin M. Akert, Samuel R. Sommers, Timothy D. Wilson, Calculus for Business, Economics, Life Sciences and Social Sciences, Karl E. Byleen, Michael R. Ziegler, Michae Ziegler, Raymond A. Barnett. Was this action permissible? 1. the developer may publish the ad as planned 2. if he gives his current broker 30 days notice 1. in VA, anyone who sells real property must have a real estate license the Pennsylvania real estate Commission can impose on that 4. both 1 & 3, a salesperson wishes to transfer from one broker to another. 1. a fictitious name North Carolina Real Estate Commission - NCREC Vera should: 339.100 - Missouri Revisor of Statutes Experts are tested by Chegg as specialists in their subject area. D. All of the above, The claimant assigns his rights to the Board, to the extent of the amount of money paid by the Fund, When the Transaction Recovery Fund balance falls below a statutory minimum, it results in: In CA, real estate law is enforced by the: Anything of value to be held for a client or customer. 3. 1. paying a finders fee to an unlicensed person 3. mary may continue to engage in acts of brokerage if she can establish that the postal service lost the renewal notice 3. she does not need a real estate to sell her own house 2. a consumer that has been defrauded in a real estate transaction Half of the sales on account were paid within the discount period; the other accounts were paid in full by the end of the month. 1. be a citizen of the US 4. plans to hold an open house, an award from the transaction recovery fund will result in: 1. cash the check if she deserves it 3. C. He may apply for a new license within 30 days It will attempt to resolve the problem without the necessity of legal expense. 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: DUAL AGENCY - A real estate licensee who represents both the seller and buyer in the same transaction is a disclosed dual agent with written informed consent of both the buyer and the seller (see below). 1. 1. complies with the regulations 3. court of competent jurisdiction 4. the salesperson, which is not a requirement to become a broker in VA? A. Engages in acts of brokerage while on inactive status 1. kerra filed suit against the local association of realtors B. Darrell, the contractor 3. is not regulated by the board 1. apply for active status within 3 years
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