3. is not regulated by the board 2. failing to identify the type of services offered in a general property description Which of the following statements is NOT true? 1. kerra filed suit against the local association of realtors 15 days 3. filed a claim against the salespersons broker 180 3. put the check in her escrow PDF Complaint Discipline Procedures - North Dakota Real Estate Commission 2. Three times a year, the DRE offers an open forum meeting to members of the industry. 2. instant messaging 1. place where real estate business is regularly transacted 3. an attorney 2. branch license 4. under no circumstances, a salesperson would be subject to disciplinary action by the real estate board for which of the following actions? 1. this is permitted since it is only done occasionally Which of the following statements is true in this situation? 1. real estate board 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. C. Kerra claim cannot include interest in her damages 3. an unlicensed friend, as long as he finds a ready, willing, and able buyer 6 brokers, 2 salespersons, and 1 attorney the broker is guilty of: 45 hours 2. giving a false address in order to obtain a license Salesperson Brenda receives a check from Seller Alex after finding a buyer to purchase the home. 2. impose a monetary penalty of up to $1,000 4. seller and broker, Bob, an associate broker, sold a property. 1. it does not include the owners name 696.301. 3. this is not permissible because the $100 fee must be paid to smith through berrys employing broker Prior to actually running the ad, the developer receives an offer for the $10,000 lot which he intends to accept. 2. the license will be automatically revoked C. Automatically revoke the broker's license 4. advise the board within 10 days, a builder wants to sell tracts of land that he owns. 1. bob may keep the bonus since he has a brokers license 1. responsible for all escrow accounts B. She plans to rent her condominium in that time period, and asks Salesperson Cindy to handle the rental. 4. It will attempt to resolve the problem without the necessity of legal expense. 4. none of the above, when a broker renews his license, which of the following must accompany that renewal application? A. 1. filed a suit against the local realtors association 4. the ad does not include the price, the ad fails to disclose that the owner is a licensee, if used to advertise property, which type of communication could trigger disclosure requirements by a licensee? 1. commission split between the licensee and the broker, What is the maximum time an aggrieved 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. 1. a brokers license must be renewed on june 30 of every even numbered year 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? 4. enforce the code of ethics, licensees with an inactive license must: 3. seller and salesperson 3. mary may continue to engage in acts of brokerage if she can establish that the postal service lost the renewal notice Real Estate Brokers & Salespersons - Michigan The Real Estate Board could withhold issuance of a new license, forever 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. 4. the respondent must submit to interrogatories by claimant, the claimant must have gone after any assets and property belonging to the debtor, If the Transaction Recovery Fund falls below a statutory minimum, licensees may be assessed to restore the 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. All real estate licensees are subject to discipline by the REEB as well as litigation. 2. general listing 4. the VA association of realtors, the VA real estate board is empowered to do all of the following, except: 1. the court that appointed the receiver 3. NJ Real Estate Commission - Disciplinary Actions Every once in a while, she gives Berry information about people leaving the area so he can contact them as potential clients. In order for Kathy to collect, she must have already: 15,000 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. what must be included in this property advertisement? 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. 3. a claimant may collect up to 20,000 PDF License Law and Rules Comments - Ncrec 1. pay a license reinstatement fee 4. 3. the director of the dept of professional and occupational regulation (DPOR) 2. sell or rent property through a foreclosure process Yes, Cindy may accept this rental listing because brokerage fees are always negotiable between the owner and the agent 3. the business can only be organized as a corporation 2. a rental location agent that is also licensed as a broker According to Virginia regulations: the seller must be informed of any such payment, prior to signing the listing agreement. 4. 2. price that is shown in the listing agreement 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: 1. 4. non resident, licensed in another state as a broker, if a licensee changes their surname, it is the responsibility of the licensee to: 2. the list of licensees assigned to that office 1. suspension of his license and a fine The commission may, upon its own motion, and shall upon receipt of a written complaint filed by any person, investigate any real estate-related activity of a licensee licensed under sections 339.010 to 339.180 and sections 339.710 to 339.860 * or an individual or entity acting as or representing themselves as a real estate licensee. D. $900,000, The minimum balance of the Virginia Real Estate Transaction Recovery Fund is: near schools, shops, and trains. 16 hours of continuing education 2. no, because it is permissible to provide a link to the required disclosures 1. 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? 4. to comply with federal law, which person is required to hold a real estate license? 8:30am - 5:00pm (Mon-Fri) 2. the VA association of realtors 3. provide retirement income for brokers 4. all of the above, claims for payment from the transaction recovery fund are filed with the: 2. any property owner 2. neither the broker nor the clerk is in violation of the law B. When this happens, Vera plans to work with Broker Jane. 3. may take new listings and find buyers for any listings on the books 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: The Real Estate Fund and its consumer recovery account is funded by: Larry is a broker representing Mark in the sale of his house. 3. if he gives his current broker 30 days notice 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. 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? A broker may be disciplined for all of the following EXCEPT: Placing a definite expiration date in an exclusive listing agreement. (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.) 1. kept for a period of 7 years 3. administer the transaction recovery act Find, (A) limxf(x)\lim\limits_{x\rightarrow\infty}f(x)\qquadxlimf(x)(B) limxf(x)\lim\limits_{x\rightarrow-\infty}f(x)\qquadxlimf(x) (C ) limx2f(x)\lim\limits_{x\rightarrow2}f(x)x2limf(x), Production opportunities; time preferences for consumption; risk; inflation. VA association of realtors In this situation, which of the following statements is true? 3. identify his place of business with an appropriate sign 1. that she is describing an open listing 2. he can pay a fine to extend the renewal date Visit the Bureau of Real Estate's website at http://www.dre.ca.gov/. Operations Management questions and answers, A real estate licensee may be disciplined by the Pennsylvania 4. File a claim against to the licensee to recover the amount paid from the Fund 4. do nothing, a person applying for a license by reciprocity must: Unfortunately, the salesperson forgot to renew her license when it expired on December 31. 1. Knowing that Suzy would reject such a low offer, Billy tells Bob to "forget it." 2. 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: conclusion of the listing contract, B. a licensee is not obligated to disclose the existence of Why is this ad in violation of Board regulations? A. Larry, the developer What must she do? 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: File a claim against the licensee to recover the judgement amount awarded by the court Licensing - Arkansas Real Estate Commission 1. a broker and a salesperson, involving employment conditions 1. send a license to the employing broker by certified mail 2. 4. complies with the regulations, so long as it is at least 12 point, bold font, John is holding an open house. 3. the board will issue her active license to her principal broker 2. approving the license exams payment received, license revocation and in order to perform community 8 hours within the first year the board takes disciplinary action against a licensed salesperson. 2. automatic revocation of the real estate license Undisclosed dual agency is illegal. 4. all of the above, the claimant assigns his rights to the board, to the extent of the amount of money paid by the fund, Harry is a broker. 900,000, if a person wants to make a claim from the transaction recovery fund, where should this claim be filed? C. $20 every two years 3. 1 year 2. C) Terry, 43, who worked as a real estate licensee until he was 28. 3. standardization of the clauses contained in a listing agreement 2. violates the VA real property act A. 43-40-1(2)(B)). another offer during negotiations on a purchase contract, C. A licensee is required to keep confidential the price the The DRE also handles the renewal of the licenses. 2. the attorney conducting the closing 2. 5 years, licensees must respond to board inquiries within: 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. 7 licensees (with at least 3 years experience) and 2 consumers who does not have a Pennsylvania real estate license? which is true? Ellen deposits the money into her personal checking account. Neither Cindy nor her broker may accept this listing 2. this is a questionable business practice and may constitute mail fraud 4. none of the above, what is the purpose of VA's real estate laws, rules, and regulations? 1. suspending the persons license B. 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. 3. charges more than the legal maximum commission rate $471.8360%. 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 . 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. 2. is attractive to many sellers since they dont need to get involved in the negotiation 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? Illinois General Assembly - Illinois Compiled Statutes 3. revoke the salespersons license pending a hearing 3. maintain an escrow account in VA 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? 1. sayumi cannot engage in acts of brokerage If Sarah keeps the $500, she: a 12 month. 1. levy fines 2. send a copy of the charges to the salespersons broker at the brokers place of business 2. Sayumi is therefore designated as a senior partner of the brokerage firm. C. The license will be automatically suspended c. The local Real Estate Board might be approached. 3. an appraiser Board may reassess licensees: 3. fine not to exceed 50,000 1. a trustee who is required to sell a house at foreclosure 1. take and pass the VA portion of the licensing exam Fowler may have anything over that amount as commission. 4. none of the above, how much experience should a salesperson have before applying for a brokers license? 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. 3. to allow licensed real estate professionals to earn more money ORS 696.301 - Grounds for discipline Not flaggedFlag question 2. should have known about the improper dealings performed by his salespersons Florida Real Estate Brokers: If Disciplined, You Could Be Punished Twice? 3. no, security deposits are held for tenants in an escrow account and are not part of the operating funds Standard of Practice 1-2. 2. a person receiving a gift certificate to sell a property what must marty do before he can start selling real estate? Go to the website www.studentaid.ed.gov and list at least five basic eligibility requirements to receive student aid. 1. file a complaint with the local realtors association a real estate licensee may be disciplined for. 2. may allow unlicensed employees (on a regular salary) to sell the tracts Real Estate Disciplines - Illinois REALTORS 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? 4. corporate attorney, which person must have a license issued by the real estate board? 1. the licensee has 4 years to repay the fund 1. disclosures 2. suspend or revoke any license issued by the board