13830176d2d515a9785127a74 a real estate licensee may be disciplined for

2. placed on private property without permission of the owner judgement, The Provisions of the Real Estate Licensing and Registration Act 193E4.2(543B) Method of discipline. 3. chat administrators, selling property under court order and for a fee A. Larry, the developer 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). 2. must supervise all firm advertising Box 1339 Jefferson City, MO 65102-1339 573.751.2628 Telephone 573.751.2777 Fax . 3 years the real estate board has authority to administer all of the following laws except: which of the following persons must be licensed when selling real property for others? It will attempt to resolve the problem without the necessity of legal expense. 3. maintain an escrow account in VA 1. acceptable, if no one is defrauded A sales agent obtains a listing and advertises the property as follows: "Spacious 3 bdrm., ideal loc. 4. be a virginia resident for at least 1 year, An unlicensed investor plans to open a real estate brokerage business. 3. a real estate developer that has been defrauded in a real estate transaction 10,000 1. take and pass the VA portion of the licensing exam 4. all of the above, Robert the Broker wants to stay on top of technological trends. 2. this is proper as long as jan remains the senior partner 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: 3. keep records for a period of 10 years 3. file a complaint with the real estate board a real estate licensee may be disciplined for. May Cindy accept this rental listing? the salesperson can only do this: Prior to actually running the ad, the developer receives an offer for the $10,000 lot which he intends to accept. 2. she has the right to present witnesses in her defense, provided these witnesses are licensed real estate professionals C. An evaluation of the Fund's investments in order to generate additional earnings 2. the seller needs a larger house 3. an office cannot operate on a residential property Susan, also an independent broker, sells the property. $800,000 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. endorse the check and give it to his employing broker B. This ad is in violation of the Real Estate Board Regulations because: In order to receive payment, this claim must be in connection with: VA association of realtors Our online system provides more efficient services to those applying for a Real Estate Broker and Salesperson license. However, she agrees to provide most of the start-up money in exchange for a share of the anticipated profits. 4. files an irrevocable consent to suits and services, files an irrevocable consent to suits and services, newly licensed brokers must complete: 4. they must retake the exam, their licenses must be returned to the board, margie passed her license exam in october 2013. in december 2014 she applies for her license. 3. she does not need a real estate to sell her own house What will happen to Craig's license if he doesn't complete the required courses before renewal? 2. 4. keep records for a period of 3 years, Gene, an independent broker, lists a property. Which of the following actions by a licensee is a violation of 2. it must be in the name of the firm Confidentiality; 4. 20 every two years The first renewal of a real estate license requires completion of WHAT hours of continuing education during the previous four years. 2. D. He will be reinstated as a salesperson, NOT as a broker, for a period of 2 years, The Real Estate Board could withhold issuance of a new license, forever, If a payment is made on a broker's behalf from the Transaction Recovery Fund, what action does the Board take? who does not have a Pennsylvania real estate license? 696.301. 1. at any time 2. a person receiving a gift certificate to sell a property 4. all of the above, does not pay the transaction recovery fund assessment, If a judgment has been awarded to a claimant, what must the claimant do before the Board will authorize payment from the Transaction Recovery Fund? C. All claims submitted in relation to a licensee's misconduct in a single transaction may not exceed $20,000 2. send a copy of the charges to the salespersons broker at the brokers place of business 2. she may operate in the role of a salesperson in VA B. near schools, shops, and trains. 3. is not in violation of the VA license law, so long as she informs the buyer 2. the brokers name is missing 10,000 Fred thought Sarah did such a good job, he sent her a $500 bonus. 4. a fine not to exceed 20,000, and up to 6 months in prison, automatic revocation of the real estate license, the real estate board can reassess licensees if the transaction recovery funds balance falls below: An unlicensed real estate assistant may do which of the following without a license? 6 licensees and 1 consumer According to Virginia regulations: 3. a person acting under a power of attorney without compensation licensee? 1. employs a resident broker to represent her Ben suggests that he may be able to help. 3. must keep all financial records for 5 years 3. take the continuing education course and apply to reinstate his license 1. the MLS service Unfortunately, the salesperson forgot to renew her license when it expired on December 31. 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. Evaluate the indicated limits if they exist. On the day of the showing, he places several directional signs throughout the neighborhood. 4.. all of the above, which person does not require a brokers license? 3. return all customers cards to the employing broker Knowing that Suzy would reject such a low offer, Billy tells Bob to "forget it." Deal direct w/agent and save. 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. 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? The ad reads, "3 bedroom, 2 bath, rambler; below market; good location; call 555-3421." 1. an owner who sells no more than three of her own houses in a year 3. conversion 7 licensees (with at least 3 years experience) and 2 consumers C. nonpayment of federal income taxes 2. an administrator who is required to sell a house in order to liquidate an estate 45 hours Harry sells three houses, then runs off with all the funds. Seller anxious to move. 2. pay a $200 fee and reapply for the license Journalize the sales on account, the credit card sales, and the cash payments on account received during the month. D. All of the above, Does not pay the Transaction Recovery Fund assessment, Which of the following statements is true if a broker has repaid the amounts awarded from the Transaction Recovery Fund? 4. any of the above, a person seeking a real estate license in VA must be: A. 7 licensees (with at least 5 years experience) and 2 consumers, 7 licensees (with at least 5 years experience) and 2 consumers, who is exempt from VA real estate license requirements? 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. 1. Answers - 2 Option D is the correct answer for the given question I.e a licensee is obligated to disclose to a consumer the minimum commission split between the licensee and the broker Answers 7 D.license revocation and a fine Any licensee . 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? The purpose was to cause the customer, Milton, to act in a way that results in a personal loss. Bob the Buyer makes an offer that is $20,000 below what Suzy is asking. 1. neither susan nor gene is in violation of the law C. He may apply for a new license within 30 days 2. director 3. the licenses of all salespersons working in the office 3. encouraging a homeowner to sell since minorities are moving into the neighborhood Full disclosure; 6. 1. 4. 2. yes, as long as the owner is aware of it 4. none of the above, a real estate licensee is required in order to: 4. 20,000 1. pay a license reinstatement fee 1. it must be supervised by the principal or supervising broker 24 months Can be a corporation, partnership, etc. 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. D. None of the above, If the Board has authorized payment from the Transaction Recovery Fund, what is the effect for the licensee who committed the misconduct? 2. may allow unlicensed employees (on a regular salary) to sell the tracts 1. failing to get a clients written consent to advertise his property 1. a brokers license must be renewed on june 30 of every even numbered year Disciplinary Action. 1. the old broker and the new broker hold joint responsibility 4. 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. Under these circumstances, Carla: 100,000, Kathy the Consumer has filed a claim for payment from the Transaction Recovery Fund. 2. revoking the persons license 4. 2. a licensee accused in the claim must sell all personal possessions to satisfy the claim 3. the licensee is required to disclose the name of his employing broker When representing a seller, which of the following is a TRUE 3. 3. one of the partners may be unlicensed 4. none of the above are exempt, It is necessary to take and pass an examination in order to become licensed in Virginia. 4. the local realtors association, under the brokers supervision, his unlicensed assistant may: A common misconception among consumers is that real estate agent and realtor are interchangeable terms. 4. disparate impact, a licensed real estate salesperson may receive money to manage real property from: The licensee named in the claim must post a bond in order to continue practicing real estate $20 in a two year period 4. both 2 & 3, Jane has been out of town on personal business. 1. the office must have an escrow account 3. take a new exam 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 the broker is guilty of: 31 days, The Board determines that a licensee misrepresented information on her license application. He still needed to take one more continuing education course before his license expiration date. 15,000 B. 2. submit a credit report 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. 4. seller and broker, Bob, an associate broker, sold a property. 2. 2. the real estate board within 30 days 1. yes, because deposits are held to cover the cost of repairs Ben and Jerry are communicating for the first time via instant messages. 1. Who is responsible for the expenses and fees of the court-appointed receiver? Three times a year, the DRE offers an open forum meeting to members of the industry. 4. 2. a person who will only work as a referral agent 2. advise the board within 30 days Through reciprocity, what is true of a broker licensed in another state? 2. the salesperson and the new broker 1. is in violation of the VA license law D. The respondent must submit to interrogatories by claimant, The claimant must have gone after any assets and property belonging to the debtor, When a claim is paid from the Transaction Recovery fund, which of the following statements is true? Under what circumstances may listing real estate broker in If possible, try to find a counterexample (a set of numbers for which the rule is not true). 4. be a resident of VA, by VA regulation, a licensee that is "actively engaged" is defined as someone who works: Several weeks after closing, the seller sent him $250 and a thank you note for a job well done. 4. B. 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. This could be drug and alcohol related crimes, in addition to crimes with elements of fraud, dishonesty, and misrepresentation. 1. yes, because the rules require specified disclosures in emails

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