3. an evaluation of the funds investments in order to generate additional earnings B. 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? 2. do nothing, as the license automatically renews every 2 years 3. License Categories [G.S. 2. if he gives his current broker 30 days notice B. 4. grounds for suspension or revocation of a license, grounds for suspension or revocation of a license, the board may take disciplinary action against a: 4. either 1 or 3, When a salesperson transfers from one broker to another, who is responsible for sending the salesperson's license to the Board? 2. it must be in the name of the firm 43-40-1(2)(B)). 1. an attorney at law 1. has the owners permission C. $20 every two years 3. 1. if a written complaint contains prima facie evidence that a violation has occurred Mark is in Europe for two weeks and cannot be reached. 2. an administrator who is required to sell a house in order to liquidate an estate 1. file a complaint with the local realtors association 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. 1. she is entitled to a hearing before the board can take disciplinary actions, unless the law provides otherwise 2. a person receiving a gift certificate to sell a property 4. this is a violation of VA license law, if a salesperson is accused of violating license law, the real estate board will: 4. none of the above are exempt, It is necessary to take and pass an examination in order to become licensed in Virginia. A real estate licensee may be disciplined by the Pennsylvania real estate commission for which of the following reasons? Refer to the information presented on the exercise related to Wilson Towing Service. 1. a trustee who is required to sell a house at foreclosure B. 2. failing to disclose adverse zoning that affected the property 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: 3. it can refuse to accept open listings 2. she can obtain a temp license from the VREB to sell her house 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? However, she agrees to provide most of the start-up money in exchange for a share of the anticipated profits. 4. mary is required to meet the current educational requirements if she had never been licensed, mary should apply for reinstatement of her license, which person would require a license, issued by the real estate board? Board may reassess licensees: If you wish to consult the most up-to-date licensing information, y ou may utilize the boards check a license feature which will immediately reflect any changes in licensing status. Placement of directional signs is illegal if: 4. the salesperson broker is automatically charged with the same violation, an investigation will be conducted unless the law specifically provides otherwise, hearings before the VA real estate board must be held in accordance with the: 1. 3 years 2. pay a $200 fee and reapply for the license 2. does not comply with the regulations 3. Instead, Robert provides a link that redirects the user to his web page, which displays the necessary disclosures. 4. all of the above, when a salesperson terminates affiliation with a broker, that salesperson must: Salesperson Brenda receives a check from Seller Alex after finding a buyer to purchase the home. 1. send the salespersons license to the new broker 3. the broker and the seller 1. nothing 1. it does not include the owners name 1. 2. the salesperson can only be paid if her license is renewed prior to january 31 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? 3. the director of the dept of professional and occupational regulation (DPOR) 1. gene should send his license to the board and request an associate brokers license These Acts establish the makeup of the Commission and its advisory committees and outline procedures by which a person can become real estate license holders in Texas. 3. is illegal since it would allow the broker to take advantage of an uninformed seller 1. the friend must be licensed as a broker Select an item from the list Consumer Real Estate Licensee Developer/Subdivider Examinee or Current/Potential License Applicant Member of the Media/Press In this situation, which of the following statements is true? VA association of realtors regulations 2. the broker, as a necessary expense to establish her innocence The Real Estate Board could withhold issuance of a new license, forever 2. must be displayed in a conspicuous place in her home office 2. the VA real estate board 3. the license will be automatically suspended After moving to Virginia, her neighbor finds out about this experience and asks Carla to sell his home. 2. post office box What will happen to Craig's license if he doesn't complete the required courses before renewal? 3. selling a business for a relative 1. neither susan nor gene is in violation of the law 1. legal, as long as the fees paid are less than $100 2. the VA real estate board a real estate licensee may be disciplined for. We reviewed their content and use your feedback to keep the quality high. Loyalty; 3. 3. the real estate board when his license is renewed 1. be clearly separate from the living area 1. with a written consent from the owner only Three times a year, the DRE offers an open forum meeting to members of the industry. In the end, these clients decide to stay where they are and to quit looking for a home. 1. the office must have an escrow account what should the salesperson do? 6 licensees and 1 consumer Which of the following statements is correct? 2. the salesperson is entitled to a jury trial before any action can be taken 2. the board will issue her license if she can provide proof that she passed 3. she does not need a real estate to sell her own house 2. helping a friend sell his house for a fee 1. misrepresentation the regulations specify that: 1. in VA, anyone who sells real property must have a real estate license 3. if the owner is a non resident of VA Standard of Practice 1-2. 0.00 points out of 1.00 4. larceny, the board may investigate a complaint based on: 4. the enforcement branch of DPOR, a court having jurisdiction over the brokers, the real estate board is responsible for: 2. broker working for another broker Which of the following actions by a licensee is a violation of In order to receive payment, this claim must be in connection with: 1. offer to sell, purchase, or exchange real estate on behalf of another for a fee 2. post a bond Gene agrees to split the commission with Susan, but advises neither the seller nor the buyer of the agreement. 3. an unlicensed friend, as long as he finds a ready, willing, and able buyer B. Susan, also an independent broker, sells the property. 1. suspend the license until a formal hearing can be conducted Evans told her that he would not return her license until the money had been repaid. 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. 1. president of the corporation 4. files an irrevocable consent to suits and services, files an irrevocable consent to suits and services, newly licensed brokers must complete: The commission rate to be given by a seller as set forth in the listing agreement is: Negotiated between the broker and seller. B. 2. a broker licensed in another state A second group was asked to do this after thinking about an organic fruit salad. 3. attend at least 3 seminars conducted by the board 1. open listing 1. a broker and a salesperson, involving employment conditions 3. The licensee has 4 years to repay the Fund 3. encouraging a homeowner to sell since minorities are moving into the neighborhood Prior to actually running the ad, the developer receives an offer for the $10,000 lot which he intends to accept. Visit the Bureau of Real Estate's website at http://www.dre.ca.gov/. Deal direct w/ agent and save. 2. be 21 years old 18VAC135-20-260. 2. acceptable, as a result of the listing contract 3. legal, if ellen performed as agreed 4. there is no agent at the location to anser questions, placed on private property without permission of the owner, A salesperson obtains a listing and advertises the property as follows: "Spacious 3 bdrm., ideal loc. a 12 month. 2. mary should apply for reinstatement of her license 1. a licensed salesperson, to recover money that his brokers owes 1. associate broker 3. a trustee, appointed by a court 1. determining commission splits between all MLS brokers 50,000 1. file an annual report with the board which details the activities of each location Which of the following statements is correct? 1. mary is required to retake the license examination in order to reinstate her license 4. plans to hold an open house, an award from the transaction recovery fund will result in: 2. is attractive to many sellers since they dont need to get involved in the negotiation 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 2. independent contractors, negotiating leases on behalf of another for a fee A. Who is most likely to collect? 3. apply for inactive status until the new broker has business cards printed exemption to the real estate licensing law. 4. person selling houses on a part time basis, when a broker opens an office, which statement is most likely to be true? 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: 4. salesperson license, A salesperson decides to offer a $500 referral bonus to anyone that finds an acceptable buyer for his listing. 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. 3. less than 20 hours per week A real estate licensee may be disciplined by the Pennsylvania 2. sue evans in the local court PO Box 9425 Stn Prov Govt. 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. 4. all of the above, What is wrong with this advertisement: "3 bdrm, 2 ba, $75,000. 3. return all customers cards to the employing broker $500,000 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? 1. principal brokers not cash, when the recipient of the payment is licensed broker in another 2. should have known about the improper dealings performed by his salespersons 4. affiliate with a licensed VA broker, A licensee was out of town on personal business. 3. yes, because the ad appears on another commercial site The Board appoints her son, Adam, to operate the business for 180 days. 2. for failure to pay an assessment to the TRF within 10 days 10,000 120 hours 2. 1. she may act as a broker in VA by virtue of her valid out of state license Holding more than one license as a real estate broker or salesperson in Virginia except as provided in this chapter; 3. 4. turned over to the buyer at closing, made available for inspection by the representatives of the real estate board, a violation of the VA license law may subject a broker to: 2. encourage higher education in real estate 2. a consumer that has been defrauded in a real estate transaction 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. 3. no, security deposits are held for tenants in an escrow account and are not part of the operating funds 1. 2. designate one location as the main office 3. standardization of the clauses contained in a listing agreement 2. boren must put through $45 in an interest bearing escrow account 4. no because the board does not regulate banner advertising, no, because it is permissible to provide a link to the required disclosures, which of the following is true about real estate advertising? the authority of a court order, b. an attorney at law who participates in real estate 3. a person that is not licensed in another state Encourage higher education in real estate 2. the VA association of realtors 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? Knowing that Suzy would reject such a low offer, Billy tells Bob to "forget it." 2. this is a questionable business practice and may constitute mail fraud 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. C. Does not pay the Transaction Recovery Fund assessment Which of the following statements is NOT true? 1. an auctioneer 2. director 3. meet the current educational requirements and pay the renewal fee 1. immediately present the offer 1. the licensee is exempt from both the federal and VA fair housing laws 3. 2 years 1. the VA association of realtors 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. 2. 60 hours 2. protect the public interest Phone 123-4567"? 2. neither the broker nor the clerk is in violation of the law 2. maintain an escrow account in VA Jack makes the required disclosures in the middle of his email, in bold lettering. near schools, shops, and trains. 1. an investigation will be conducted unless the law specifically provides otherwise 2. closes her out of state office 1. creative marketing 3. an appraiser 2. endorse the check over to bob 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 1. the ad fails to include the property address 1. inform their employing broker 1. an attorney who is licensed to practice law in VA 1. a broker or a salesperson that has been defrauded in a real estate transaction For failure to pay an assessment to the TRF within 10 days 1. member of the MLS 1. suspending the persons license 1. salaried rental property personnel, accepting lease applications on behalf of another 1. have one phone for every 5 agents Gene agrees to split the commission with Susan, but neither one advises the seller or the buyer of their agreement. 100,000, Kathy the Consumer has filed a claim for payment from the Transaction Recovery Fund. B. habitual intoxication or drug addiction 2. a licensee accused in the claim must sell all personal possessions to satisfy the claim This ad is in violation of the Real Estate Board Regulations because: 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. 2. impose a monetary penalty of up to $1,000 year, Soliciting listings in a multi-ethnic neighborhood, preparing a listing contract that leaves the duration A. If you are having problems completing the application process, please contact us at 517-241-0199 for assistance and we can help walk you through the process. who does not have a Pennsylvania real estate license? 3. a person who is currently licensed in another jurisdiction 3. this is not permissible because the $100 fee must be paid to smith through berrys employing broker The respondent must assign all commissions and personal property to the claimant or the Board 1. a resident of VA 45 hours 1. a person who, for compensation, helps to sell his neighbors home service, license revocation and imprisonment of no more than one Unfortunately, the salesperson forgot to renew her license when it expired on December 31. 1. no, because he acted in suzys best inerests Unfortunately, Craig has been so busy that he hasn't taken any continuing education yet. Kellie, the buyer of the property, contacts Larry to advise him that the closing needs to be extended for one week. A. The exact steps you'll need to take to become a licensed agent will differ a little depending on where you live, but in most places, you'll need to take a few real estate courses and pass a licensing exam. 2. person selling a vacant lot for a fee 2. may allow unlicensed employees (on a regular salary) to sell the tracts 3. tony the mortgage banker the broker is guilty of: All real estate licensees are subject to discipline by the REEB as well as litigation. 2. no, because bill is larrys client 3. ben must disclose his email address B) Sylvia, a registered voter, whose uncle Doug is the most successful real estate broker in Evergreen. 4. the local association of realtors, Rainy Yeng has been transferred out of the area on an extended work assignment. 3. charges more than the legal maximum commission rate 3. all claims submitted in relation to a licensees misconduct in a single transaction may not exceed 20,000 3. the old broker 1. the broker has violated board regulations, which preclude paying valuable consideration to an unlicensed person 3. may take new listings and find buyers for any listings on the books 2. submit a credit report 2. send a copy of the charges to the salespersons broker at the brokers place of business 2. the broker must limit this incentive program to 30 days The licensee named in the claim must post a bond in order to continue practicing real estate 1. complete an 18 credit hour course in the principles of real estate 4. this is a good sales strategy, Broker Evans fired Sally because she was stealing from the petty cash fund. Which of the following statements is true? 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 fictitious name 2. to protect the public interest 1. bob may keep the bonus since he has a brokers license 3. to allow licensed real estate professionals to earn more money $800,000 Which of the following statements is correct? dream11 kabaddi team today; political journalist jobs near hamburg; 3. court of competent jurisdiction After investigation, the Board finds that the broker is innocent of any wrong doing. 20 every two years 4 years Prepare the balance sheet for Wilson To"\ving Service as of June 30, 2018. This action would violate the Real Estate Board regulations unless: 1. be at least 18 years old 4. In the situation described, which of the following statement is true? 4. the listing broker, brokers must retain records of real estate transactions for at least: 1. the price is not mentioned 1. must have a brokers license 2. the license will be automatically revoked 1. kept for a period of 7 years 3. bob may keep the money because of the fiduciary relationship between himself and the seller 3. in newspaper ads consisting of more than 28 lines of copy He now owns a small bakery in Tuscaloosa. 3. if he gives his current broker 30 days notice 4. ask another salesperson in the office to present the offer, Broker Foster manages an apartment building for Owner Smith. 4. the branch office must display the licenses of all agents assigned to that particular office, when a salesperson transfers from one broker to another, it is the salespersons responsibility to: Automatically fine the licensee for $1,000, then schedule a hearing Who is most likely to collect? 1. the branch office license B. Darrell, the contractor A. Kerra filed suit against the local Association of Realtors 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. bob may accept the bonus if more than 30 days have passed since closing 1. salesperson 1. a firm partner who does not participate in the brokerage business 4. she must affiliate with a licensed VA broker, Angela operated her own brokerage firm until she unexpectedly passed away. 2. file a claim against the salesperson in a court of competent jurisdiction 3. write a thank you note to kirks 3. may only employ licensees to sell each tract 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: 4. be a virginia resident for at least 1 year, An unlicensed investor plans to open a real estate brokerage business. 2. an assessment from active licensees to restore the fund to the minimum balance Vera is a licensed salesperson with Broker Tom, but Tom is going to close his office. Seller anxious to move. 1. the MLS service 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: 4. apply for a license as a new applicant, take the continuing education course and apply to reinstate his license, which of the following is true about the branch office of a VA real estate firm? 3. affiliate with a broker and submit an application for licensure Real estate managing broker license fined $10,000 for engaging in licensed real estate activities without a license, entering into What is this requirement? 1. file a claim against to the licensee to recover the amount paid from the fund 3. yes, so long as larry is a broker Sayumi is therefore designated as a senior partner of the brokerage firm. 1. be retained by the principal broker indefinitely 4. in VA, she can only sell her house if she is a licensed appraiser, she does not need a real estate license to sell her house, a broker is required to return an affiliated agents license to the board in all of the following situations, except: After that, Tony would handle the mortgages of any buyers through his bank. 30 hours of post license education 4. seller and broker, Bob, an associate broker, sold a property. 30 hours before he can actually receive his license, VA license law defines a brokers place of business as a: 3. seller and salesperson 1. either buyer or seller, based on their agreement 4. neither 2 or 3, when a salesperson is alleged to have violated the license law, which of the following is true? 2. mail his or her license to the board 1. be a citizen of the US 3. chat 1. send a license to the employing broker by certified mail 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. 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? A. Which of the following disclosures is Ben most likely required to make? He works out a deal with Larry (a developer), Darrell (a contractor), and Tony (a mortgage banker). 3. broker who is also licensed as a rental location agent 4. If Brenda wants to keep the money and NOT violate VA License Law, she could: 1. sayumi cannot engage in acts of brokerage 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. place where real estate business is regularly transacted 1. The DRE grants licenses to Real Estate Brokers and Salespersons. principal? An investment in a limited real estate partnership 3. 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. 1. a person acting without compensation under power of attorney 11:5-4.5 by failing to properly supervise as the branch office manager. Which of the following disclosures must Ben make? 2. she may operate in the role of a salesperson in VA 3. one of the partners may be unlicensed 2. a salesperson who holds a business entity license Which of the following statements is true regarding the advertisement? 2. violation of anti trust laws 4. illegal, a salesperson could have his license suspended or revoked for which of the following reasons? 2. the VA real estate board 3. chairman of the board 3. imposing a fine of $5000 for each violation 1. the person who is active on the brokerage side of the business must have a brokers license 4. 4. ben must disclose his username, ben must disclose his firm name, city, and state, A developer has prepared an advertisement, offering several lots for sale. 1. responsible for all escrow accounts 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? File a claim against the licensee to recover the judgement amount awarded by the court 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. 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 . Not flaggedFlag question The email describes the real estate services Jack provides and encourages Mike to call for more details. What is the maximum that one licensee may be assessed during a two-year period? 1. 1. attorney general of the commonwealth 2. may accept the listing by virtue of her current wisconsin license In order for Kathy to collect, she must have already: 4. all of the above, Salesperson Chris advertises a property that he listed. 50 4. yes, because billy failed to present the offer to suzy, yes, because billy failed to present the offer to suzy, a salesperson is charged with a violation of the license law. Bill prefers to communicate with Larry via email. 3. failing to inform the seller of the ethnic character of a buyer Patricia Plante, a licensed New Jersey real estate broker-salesperson, Somerset County - By Final Order of Determination dated July 31, 2014, the Commission administratively determined that Plante violated N.J.A.C. The agent orders the home inspection from a friend, who then pays him a referral fee. 4. only be accessible to the public, which person would need a license to sell property on behalf on another? 2. only upon receipt of a written complaint setting forth the alleged violation
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