In this situation, which of the following statements is true? 4. all of the above, a real estate license is not required for a: 4. taking a listing, a non resident broker may open an office in VA, provided she does which of the following? 3. if there is a violation of the boards regulations 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: 3. this is not permissible because the $100 fee must be paid to smith through berrys employing broker Automatically suspend the broker's license 2. no property location specified 1. failing to disclose to buyers that were termites in the property Which of the following disclosures is Ben most likely required to make? 3. her license will be temporarily suspended until the board can hold a hearing She started looking for new firms after the accusations were made, but can't transfer until her license is returned to the Board. 3. a claimant may collect up to 20,000 C. Provide retirement income for brokers d. The problem may be directed to the North Dakota Real . 3. VA real estate board 2. bob may accept the bonus if more than 30 days have passed since closing $20,000 Neither Cindy nor her broker may accept this listing 4. none of the above, A consumer may file a Transaction Recovery Fund claim for a loss sustained as the result of a licensee's fraudulent act. The owner specifies how much she wants to receive from the sales proceeds, then allows the broker to propose a selling price. 3. may only employ licensees to sell each tract 2. the real estate board within 30 days 3. hold degree in real estate 3. the developer may publish the ad as planned, but it cannot run for more than 4 weeks 3. ask tom to return her license to the board and apply for a transfer 3. matters outside the scope of its authority 50 4. all of the above, when a salesperson terminates affiliation with a broker, that salesperson must: 4. a court appointed trustee, a person receiving a gift certificate to sell a property, under which circumstance can a salesperson be licensed with more than one VA broker? Deal direct w/ agent and save. 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. 2. upon revocation of the brokers license 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. 3. take a new exam a real estate licensee may be disciplined for. Placement of directional signs is illegal if: Operations Management questions and answers, A real estate licensee may be disciplined by the Pennsylvania 2. 2. submit a credit report $500,000 Since the ad must be small, Robert makes no disclosures in the banner itself. 4. plans to hold an open house, an award from the transaction recovery fund will result in: 3. gene must obtain a brokers license
NJ Real Estate Commission - Disciplinary Actions 1. by having his license returned to the board a new license issued to the new broker B. 3. if he gives his current broker 30 days notice Can be a corporation, partnership, etc. 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. c. The local Real Estate Board might be approached. The property sells on December 20 and closing takes place on January 15. 4. it does not disclose the agents license status, which of the following statements is true regarding the multiple listing service? 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: C. $600,000 1. no, because he acted in suzys best inerests An assessment from all licensees to restore the fund to the minimum balance 4. both 1 & 3, affiliate with a broker and submit an application for licensure, the real estate board consists of: 4. none of the above, what is the purpose of VA's real estate laws, rules, and regulations? 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. According to Virginia regulations: the seller must be informed of any such payment, prior to signing the listing agreement. 2. helping a friend sell his house for a fee 1. the friend must be licensed as a broker 4. part of a franchise firm, the VREB regulations require that complete records of real estate transactions: 3. any broker 3. principal brokers license 40 3. an employee of a broker, who negotiates leases 2. he can pay a fine to extend the renewal date
Licensing Flashcards | Quizlet 1. be clearly separate from the living area 4. What must she do? 2. the seller needs a larger house B. 4. Copies of an offer to purchase a property must be given to the offeror: Immediately upon obtaining the offeror's signature on the offer. 1. a licensed salesperson, to recover money that his brokers owes 24 months 2. no, because billy is a broker 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 managing broker license fined $10,000 for engaging in licensed real estate activities without a license, entering into 18VAC135-20-260. 1. firm license .3. the ad makes false or misleading statements 1. investigate the actions of any real estate broker or salesperson Rules and Laws Our license holders are governed by the Texas Real Estate License Act, the Inspector Act, and the Timeshare Act. 20 every year 1. commingling 1. yes, because the required disclosures must appear in the ad itself 1. yes, because deposits are held to cover the cost of repairs 2. a broker licensed in another state 3. their licenses must be returned to the board
Legal Memorandum LI01: Discipline of Real Estate Brokers and Go to the website www.studentaid.ed.gov and list at least five basic eligibility requirements to receive student aid. 1. send a license to the employing broker by certified mail 3. the business can only be organized as a corporation 1. that she is not affiliated with a brokerage firm or sole proprietor 3. upon the request from the salesperson to transfer to another broker 4. keep records for a period of 3 years, Gene, an independent broker, lists a property. 4. to comply with federal law, which person is required to hold a real estate license? C. Tony, the mortgage banker A. Kerra filed suit against the local Association of Realtors 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? real estate commission for which of the following reasons? B. 3. hold a hearing to allow the licensee to defend herself 10,000 Question text 1. salesperson 1. neither susan nor gene is in violation of the law 10 hours, Two individuals want to form a real estate partnership in Virginia. Ben suggests that he may be able to help. 3. kerra claim cannot include interest in her damages 1. the office must be licensed 4. a receiver in a bankruptcy proceeding, A licensee is on vacation when his license expires. 45 hours of post license education 2. give additional info to callers about available listings B. 210, mart fields just found out that he passed the VA real estate sales exam. 2. can only conclude the transactions in the process to facilitate the termination of the business When she returns on July 5, Jane realizes that her real estate license expired on May 31. 3. a sheriff ordered by the court to sell a house at foreclosure 4. if the board is notified when his license is renewed, by having his license returned to the board and a new license issued to the new broker, which of the following non residents may obtain a VA real estate license? 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: 1. the office must have an escrow account One group was asked to do this after thinking about a calorie-laden cheesecake. 2. price that is shown in the listing agreement A licensed broker may not pay a commission to or otherwise compensate a person directly or indirectly for performing an act of a broker unless the person is: (1) a license holder; or (2) a real estate broker licensed in another state who does not conduct in this state any of the negotiations for which the commission or other compensation is . 12 Practice Questions. 1. the claimant must have gone after any assets and property belonging to the debtor 1. name of the listing salesperson The salesperson can pay this referral bonus to: 8 hours within the first year The claimant assigns his rights to the Board, to the extent of the amount of money paid by the Fund 3. must keep all financial records for 5 years 3. filed a claim against the salespersons broker
Illinois General Assembly - Illinois Compiled Statutes C. An evaluation of the Fund's investments in order to generate additional earnings 2. be at least 18 years old 2. legal, if disclosed im writing to all parties Which circumstance might also put the employing broker at risk of disciplinary action? 2. mary should apply for reinstatement of her license 3. to allow licensed real estate professionals to earn more money 2. The DRE grants licenses to Real Estate Brokers and Salespersons. 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. 3. 2. post a bond 2. that she has an unrealistic opinion on the value of the property 1. under no circumstance 3. Confidentiality; 4. 4. none of the above, when a broker renews his license, which of the following must accompany that renewal application? B. 3. all licenses must be renewed biennially in odd numbered years 3. a broker and the local association of realtors 3. tony the mortgage banker 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? 4. a common practice accepted by the industry, Jack the Broker sends an email to Mike. 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. D. Under no circumstances, For failure to pay an assessment to the TRF, New licensee applicants are required to pay into the Transaction Recovery Fund.
a real estate licensee may be disciplined for The ad reads, "3 bedroom, 2 bath, rambler; below market; good location; call 555-3421." 3. if the owner is a non resident of VA Broker Fowler should tell Owner Chaney: 2. violation of anti trust laws When representing a seller, which of the following is a TRUE 1. 3. may accept the listing by reciprocity between VA and wisconsin, once a license has been issued to a salesperson, her license: 750,000 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. 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.
4 Ways to Become a Real Estate Agent - wikiHow D. Schedule a hearing to determine guilt or innocence, Automatically revoke the broker's license, If the named licensee is involved in multiple transaction violations, what is the maximum that a person may collect from the Transaction Recovery Fund? 4. all of the above, Robert the Broker wants to stay on top of technological trends. File a claim against the licensee to recover the judgement amount awarded by the court 1. the inspector is licensed in VA 20,000 Automatically fine the licensee for $1,000, then schedule a hearing 3. 4. prepare and file papers for tenant eviction for non payment of rent, prepare and file papers for tenant eviction for non payment of rent, an associate broker is described as a: An investment in a limited real estate partnership The Board now has the right to: 2. Has Robert violated the rules? Board may reassess licensees: 4. 1. a court of competent jurisdiction Which of the following statements is correct? After that, Tony would handle the mortgages of any buyers through his bank. 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. 1. move to VA within six months of licensure 3. Susan, also an independent broker, sells the property. 2. 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: 2. member of the MLS 4. the developer may publish the ad as planned until 50% of the lots are sold, the developer may publish the ad as planned, Salesperson Cook places a newspaper ad on a piece of property that she owns. 2. send a copy of the charges to the salespersons broker at the brokers place of business