2. the attorney conducting the closing 2. the salesperson and the new broker 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? Susan decides to sell her own house. 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: C. A real estate transaction 3. Let f(x)=2x3(x2)3f(x)=\frac{2x}{3(x-2)^3}f(x)=3(x2)32x. 4. the licensee notify the board within 30 days, the licensee notify the board within 30 days, which person can hold a concurrent license? Seller anxious to move. An assessment from active licensees to restore the fund to the minimum balance 2. does not comply with the regulations D. $30 in a two year period, Harry is a broker. 1. 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? Gene agrees to split the commission with Susan, but advises neither the seller nor the buyer of the agreement. 4. pay the required renewal fees, Jan and Bill have a real estate brokerage partnership. In CA, real estate law is enforced by the: Anything of value to be held for a client or customer. C. nonpayment of federal income taxes 3. is not regulated by the board 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 . 2. encourage higher education in real estate can conduct business under a fictitious name. Ben suggests that he may be able to help. 1. the office must have an escrow account 2. 1. Our online system provides more efficient services to those applying for a Real Estate Broker and Salesperson license. 10 days 1. investigate the actions of any real estate broker or salesperson the Pennsylvania real estate Commission can impose on that 4. the listing broker, brokers must retain records of real estate transactions for at least: 2. with written permission of the VA real estate board Ben is a licensee and Jerry is interested in locating property in Ben's area. 1. at least 40 hours per week The business will be operated as a sole proprietorship. A real estate licensee may be disciplined by the Pennsylvania real estate commission for which of the following reasons? 3. that she is describing an exclusive agency listing 400,000 1. move to VA within six months of licensure 2. salesperson's employing broker Bob the Buyer makes an offer that is $20,000 below what Suzy is asking. 1. salesperson He works out a deal with Larry (a developer), Darrell (a contractor), and Tony (a mortgage banker). 2. have a desk for every 5 agents 3. less than 20 hours per week 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 Option D is View the full answer A. 2. After moving to Virginia, her neighbor finds out about this experience and asks Carla to sell his home. Bill dies, so Jan wants to allow Gene (a salesperson with 8 years experience) to replace him. 1. send a license to the employing broker by certified mail 3 years 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. The mean number of calories estimated in a cheeseburger was 780 for the group that thought about the cheesecake and 1,041 for the group that thought about the organic fruit salad. This ad is in violation of the Real Estate Board Regulations because: 3. kept indefinitely 3. standardization of the clauses contained in a listing agreement 3. court of competent jurisdiction C. $750,000 (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.) $400,000 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? payment received, license revocation and in order to perform community 2. uniform commercial code 4. there is no max assessment, New licensee applicants are required to pay into the Transaction Recovery Fund. 10,000, if the board has authorized payment from the transaction recovery fund, what is the effect for the licensee who committed the misconduct? 4. both 2 & 3, Jane has been out of town on personal business. 3. affiliate with a broker and submit an application for licensure The salesperson can pay this referral bonus to: 4. none of the above, a broker may place a sign on a property when he: 4. the enforcement branch of DPOR, a court having jurisdiction over the brokers, the real estate board is responsible for: 1. by having his license returned to the board a new license issued to the new broker 3. no, security deposits are held for tenants in an escrow account and are not part of the operating funds 93A2] 3. yes, because the ad appears on another commercial site 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: highest paid nba player 2022 salary; datcha beach guadeloupe; a real estate licensee may be disciplined for. the board takes disciplinary action against a licensed salesperson. 2. principal broker 1. must have a brokers license 3. that she is acting as a referral agent only, and is not active in selling and listing 4. setting the commission rates for different types of property, waiving education or experience requirements, before a person can apply to obtain a brokers license, how much experience must she have as a salesperson? 4. administer the residential property disclosure act, establish standardized listing and sales contract agreements, If a salesperson or associate broker changes her principal place of residence, Virginia License Law requires that: 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. all of the above, if a real estate company has more than one office in VA, that company must: 2. gene is guilty of paying valuable consideration to another party, thereby creating a dual agency 3. listing broker 2. One group was asked to do this after thinking about a calorie-laden cheesecake. All real estate licensees are subject to discipline by the REEB as well as litigation. 3. such actions could be viewed as creative selling, which does not violate license law or board regulations 2. attempting to change employing brokers more than three times in Not flaggedFlag question 3. identify his place of business with an appropriate sign 1. the old broker and the new broker hold joint responsibility Standard of Practice 1-2. 2. Welcome to the North Carolina Real Estate Commission. $471.8360%\$471.83 \div 60\% 4. either 1 or 3, which of the following statements must be true about a real estate salespersons license? Which of the following entities could become involved in settling the matter? 1. failing to get a clients written consent to advertise his property 18VAC135-20-260. 3. a rental location agent another offer during negotiations on a purchase contract, C. A licensee is required to keep confidential the price the Divide. 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. principal? 4. ask another salesperson in the office to present the offer, Broker Foster manages an apartment building for Owner Smith. 3. the respondent must file bankruptcy and sell all property 1. disclosures 3. acceptable, if the compensation is less than $500 A. 4. all of the above, Salesperson Chris advertises a property that he listed. 3. apply for inactive status for the salesperson 3. Undisclosed dual agency is illegal. When this happens, Vera plans to work with Broker Jane. 1. the claimant must have gone after any assets and property belonging to the debtor 30 hours of post license education 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. 4. larceny, the board may investigate a complaint based on: 4. the salesperson can be aid if she retakes the state licensing exam, the salesperson is entitled to receive her commission, Incorrect 3. tony the mortgage banker 1. the developer may publish the ad as planned 2. the license will be automatically revoked B. 1. levy fines 4. the salesperson, which is not a requirement to become a broker in VA? 3. a court of law having jurisdiction over the brokers 6 brokers, 2 salespersons, and 1 attorney Round answer to the nearest cent. 40 3. 2. boren must put through $45 in an interest bearing escrow account 1. the colors on the sign are different than the firms logo colors 2. maintain an escrow account in VA 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. 4. review the complaint to determine if there is a possible violation of license law or board regulations, review the complaint to determine if there is a possible violation of license law or board regulations, it is a violation of VA license law to induce another person into selling their property by representing that: 4. both 1 & 2, if the board receives a written complaint about a licensees actions, what does the board always do? 3. has a written listing agreement 3. the clerk must be licensed as a broker 1. the MLS service 2. an administrator who is required to sell a house in order to liquidate an estate Which of the following statements is correct? 3. write a thank you note to kirks 1. the branch office license Refer to the information presented on the exercise related to Wilson Towing Service. In other words, a real estate licensee can legally only pay another licensee for the referral of real estate brokerage business. 2. the VA real estate board 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. 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. 4. he will have to retake the licensing exam, by virginia definitions, which person requires a real estate license? 3. operate profitably for at least one year 2. be a US citizen 1. the renewal fee 3. 2. be furnished to the board upon request 3. the agents name appears before the brokers name B. Darrell, the contractor 2. the renewal fee, plus $20 payment for the transaction recovery fund 3. sayumi can be a senior partner, but she cannot be the principal broker 2. kerra has obtained a judgement in court A personal loan 1. the clerk must be a licensed salesperson 2. advise the board within 30 days 5 years, the supervising broker must post which records in a conspicuous place at the branch office? The ad reads, "beautiful rambler, excellent assumption. . 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. 20,000 The reason for the claim is to reimburse a loss sustained after a salesperson made a gross misrepresentation. 2. on for sale signs places on specific property 4. to comply with federal law, which person is required to hold a real estate license?
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