3. attend at least 3 seminars conducted by the board $471.8360%\$471.83 \div 60\% 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. the enforcement branch of DPOR, a court having jurisdiction over the brokers, the real estate board is responsible for: $471.8360%. This ad is in violation of the Virginia License Law because: 3. charges more than the legal maximum commission rate the Pennsylvania real estate Commission can impose on that 4. files an irrevocable consent to suits and services, files an irrevocable consent to suits and services, newly licensed brokers must complete: What must the licensee do if she wants to remain licensed? 4. be a virginia resident for at least 1 year, An unlicensed investor plans to open a real estate brokerage business. 3. court of competent jurisdiction 1. the old broker and the new broker hold joint responsibility 3. standardization of the clauses contained in a listing agreement In order to receive payment, this claim must be in connection with: Prior to actually running the ad, the developer receives an offer for the $10,000 lot which he intends to accept. 1. 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: 1. disclosures VA association of realtors 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? A. The salesperson can pay this referral bonus to: Has Robert violated the rules? 3. enable licensed real estate professionals to earn more money 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. 1. an investigation will be conducted unless the law specifically provides otherwise 1. misrepresentation 2. must be displayed in a conspicuous place in her home office A real estate licensee may be disciplined by the Pennsylvania real estate commission for which of the following reasons? 3. gene must obtain a brokers license D. any felony conviction Neither Cindy nor her broker may accept this listing The ad reads, "beautiful rambler, excellent assumption. 2. post a bond This could be drug and alcohol related crimes, in addition to crimes with elements of fraud, dishonesty, and misrepresentation. Skill, care, and diligence in the transaction; 8. 2. the real estate board within 30 days The purpose was to cause the customer, Milton, to act in a way that results in a personal loss. 1. open listing Go to the website www.studentaid.ed.gov and list at least five basic eligibility requirements to receive student aid. The licensee has 4 years to repay the Fund 2. both partners must have a brokers license 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. 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. 2. branch license 2. approving the license exams 2. associate brokers and salespersons 4. financing options are not shown, in VA, what action is prohibited in an advertisement for real estate? 3. listing broker 2. mail his or her license to the board Therefore, Robert decides to advertise his firm via banner ads on commercial web pages. The duties of a real estate licensee owed to a buyer or seller who engages the real estate licensee as a single agent include the following: 1. 1. a resident of VA 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? 1. real estate board A personal loan near schools, shops and trains. 1. neither susan nor gene is in violation of the law 3. apply for inactive status until the new broker has business cards printed Standard of Practice 1-2. 3. may take new listings and find buyers for any listings on the books 45 hours of post license education However, she agrees to provide most of the start-up money in exchange for a share of the anticipated profits. 4. the local realtors association, under the brokers supervision, his unlicensed assistant may: 4. both 2 & 3, Jane has been out of town on personal business. 4. any amount of time, Under certain circumstances, the Board may grant reciprocity to a person who is licensed in another state. 4. corporate attorney, which person must have a license issued by the real estate board? 4. a friend, relative, or builder, The Board believes that a broker is not properly managing her escrow account. 3. she does not need a real estate to sell her own house 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. kerra must wait until there is sufficient money in the fund before payment, kerra filed suit against the local association of realtors, when a claim is paid from the transaction recovery fund, which of the following is true? 3. improper dealing 4. none of the above, a broker may place a sign on a property when he: c) A real estate broker is presumed to know the law governing the regulated real estate activities in which he or she is engaged. 3. the code of ethics for real estate professionals 3. a college grad 4. the local association of realtors, Rainy Yeng has been transferred out of the area on an extended work assignment. B. 1. that she is not affiliated with a brokerage firm or sole proprietor 3. the director of the dept of professional and occupational regulation (DPOR) 2. the developer cannot publish the ad as planned 2. apply for a temp license until he affiliates with a broker 40 When representing a seller, which of the following is a TRUE 1. 4. that she can engage in acts of brokerage on a selective basis, that she is not affiliated with a brokerage firm or sole proprietor, every VA resident who is also licensed as a broker must: 2. darrell the contractor 1. place where real estate business is regularly transacted 1. investigate the actions of any real estate broker or salesperson 1. a broker that is active in more than one brokerage firm 3. place that is managed by a senior salesperson 2. maintain an escrow account in VA 3. impose a fine on any licensee 2. principal broker 1. an attorney who is licensed to practice law in VA But, Sally is innocent! 4. the VA association of realtors, the VA real estate board is empowered to do all of the following, except: You'll get a detailed solution from a subject matter expert that helps you learn core concepts. 150 B. 1. the principal broker 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. 696.301. 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. In January of 2019, the Texas Real Estate Commission (TREC) reprimanded a real estate agent and suspended his license for 30 days after it was determined that he failed to perform an adequate inspection of a property's foundation on behalf of a buyer. B. Kerra has obtained a judgement in court 2. it may be supervised by a salesperson with 3 years experience Allison is guilty of: 4. 4. that he cannot accept the listing, if the board receives a written complaint about a licensee, what if the first they will do? 1. 1. larry the developer 3. encouraging a homeowner to sell since minorities are moving into the neighborhood 2. 3. a tenant, seeking to recover a security deposit from his landlord The DRE also handles the renewal of the licenses. 3. the developer may publish the ad as planned, but it cannot run for more than 4 weeks 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. Before applying for the real estate license, all the formalities of education and experience must be cleared. A) Cynthia, age 55, who has a master's degree and has lived in Alabama for the past five years. 4. both 1 & 2, if the board receives a written complaint about a licensees actions, what does the board always do? 1. The first renewal of a real estate license requires completion of WHAT hours of continuing education during the previous four years. 3. hold degree in real estate 1. upon demand by the board Why is this ad in violation of Board regulations? Automatically suspend the broker's license C. Does not pay the Transaction Recovery Fund assessment 1. salesperson B. At Uptown Arts, gross sales for the month included: Sales on account (2/10, n/30) $350,000 When representing a seller, which of the following is a TRUE 4. affiliate with a licensed VA broker, A licensee was out of town on personal business. 2. general listing 4. gene may continue to operate under his existing sales license, Two brokers are involved in a dispute over a commission split. 1. renting 1/2 a duplex for a friend 1. a licensed salesperson, to recover money that his brokers owes 8:30am - 5:00pm (Mon-Fri) 50,000 4. 4. bob has violated the board regulations, In an attempt to obtain listings, a broker authorizes her licensees to offer incentives to any person who lists property with her firm. A. 3. C. Only to revoke the license, as provided by Virginia law $20 in a two year period 2. illegal, because ellen can only accept money from her broker The actual misuse of trust funds by converting them to the broker's own use. 4. serve an apprenticeship term in real estate, take and pass a test within 12 months of application, an associate broker must be: 4. either 2 or 3, A real estate broker pays $50 to an insurance broker for every referral that goes to closing. 1. their licenses are not affected 2. the ad fails to disclose that the owner is a licensee He now owns a small bakery in Tuscaloosa. Rainy tells Cindy that she wants $500 per month for the rental and Cindy may have any amount over $500. The license will be automatically revoked Larry, Darrell, and Tony all file claims for payment from the Transaction Recovery Fund. 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: 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? 4. deposit the check and say nothing, endorse the check and give it to his employing broker, Salesperson Brenda is affiliated with Broker Bob, who has a listing with Seller Alex. Reimburse financial losses caused by licensee misconduct 3. the respondent must file bankruptcy and sell all property 3. is illegal since it would allow the broker to take advantage of an uninformed seller To qualify for a broker's license, the applicant must: Complete eight statutorily required college-level courses. 2. broker working for another broker 3. is not regulated by the board 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. 1. get her license from tom and take it to jane Fred thought Sarah did such a good job, he sent her a $500 bonus. the regulations specify that: 2. the VA real estate board 4. all of the above, Salesperson Lynch receives a referral check from an out-of-town broker, Kirks, for sending him a prospective buyer. The [Florida real estate] commission . 2. a person receiving a gift certificate to sell a property 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. 1. it must be supervised by the principal or supervising broker 3. administer the transaction recovery act 3. 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 fc barcelona juvenil b players. 1. engages in acts of brokerage wile on inactive status Real Property Law 441-c provides, in part, that the Department of State may revoke, suspend, fine or reprimand a real estate broker or salesperson if that licensee is found to have, among other things, violated any provision of Article 12-A of the Real Property Law, engaged in fraud or fraudulent practices, or demonstrated untrustworthiness or 1. must be carried at all times to establish that she is licensed A. inability to obtain automobile liability insurance, B. habitual intoxication or drug addiction. 3 years 3. impose a fine 2. do nothing, as the license automatically renews every 2 years 2. to protect the public interest Why is this ad in violation of Board regulations? 1 year Call Paula after 5 at 123-4567." 1. raising the price on a contract in order to influence a lender 3. apply for renewal of her license 3. inducement 3. take the continuing education course and apply to reinstate his license Several weeks after closing, the seller sent him $250 and a thank you note for a job well done. Every once in a while, she gives Berry information about people leaving the area so he can contact them as potential clients. 3. a real estate developer that has been defrauded in a real estate transaction apply to, a. a trustee who participates in real estate transactions under 4. 2. for failure to pay an assessment to the TRF within 10 days 3. people from hungary are moving into the neighborhood 1. 1. send a copy of the charges to the salesperson at his last known business address 1. any other salesperson or cooperating broker, as long as he finds a ready, willing, and able buyer 4. Method 1 Verifying a Real Estate License Download Article 1 Gather information. 2. an appraiser 2. the license will be automatically revoked Upon request, the court appoints a receiver to manage the account. When this happens, Vera plans to work with Broker Jane. If necessary, the Board may reassess licensees: commission rates charged by members of the MLS are established by: 2. automatic revocation of the real estate license 3. the license will be automatically suspended 4. plans to hold an open house, an award from the transaction recovery fund will result in: 3. employed by another broker 1. Round answer to the nearest cent. if a broker repays the amount awarded to an aggrieved consumer from the transaction recovery fund with interest, which of the following is true? 4. 50 Prepare the balance sheet for Wilson To"\ving Service as of June 30, 2018. The respondent must assign all commissions and personal property to the claimant or the Board 2. kerra has obtained a judgement in court 3. it can refuse to accept open listings Foster used the security deposits of two tenants (Petri and Gonzales) for general maintenance on the apartment building. 3. yes, because the ad appears on another commercial site 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. They give Ellen $500 as compensation for all of her hard work. 1. suspension of his license and a fine The agent orders the home inspection from a friend, who then pays him a referral fee. 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. B. 2. the investor must hire a broker to manage the business 1. only receive referral fees for sending buyers to other salespersons in his office In CA, a real estate license must be renewed every. 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. Which of the following statements is true? 2. that she has an unrealistic opinion on the value of the property 4. enforce the code of ethics, licensees with an inactive license must: 2. be a US citizen 2. revoking the persons license 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: transactions on behalf of a client, c. a real estate licensee selling real estate she owns, d. a licensed auctioneer who is auctioning property. Under these circumstances, Carla: 4. all of the above, a salesperson whose license is on an active status may: 1. suspending the persons license 3. the broker notify the board within 30 days 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. 4. both 1 & 3, A motel clerk provides a few leads to a broker in exchange for a percentage of the commission. 2. neither the broker nor the clerk is in violation of the law highest paid nba player 2022 salary; datcha beach guadeloupe; a real estate licensee may be disciplined for. 4. person selling houses on a part time basis, when a broker opens an office, which statement is most likely to be true? 3. must keep all financial records for 5 years $400,000 40-25(b)(17)). 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. 20 in a two year period 1. an executor of a will 1. the court that appointed the receiver 1. boren must work through his broker Not flaggedFlag question 3. revocation of his license and a fine 3. matters outside the scope of its authority 1. principal brokers 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? 3. person selling industrial real estate full time

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