13830176d2d515a9785127a74 a real estate licensee may be disciplined for

You'll get a detailed solution from a subject matter expert that helps you learn core concepts. 4. a salesperson that performs residential sales with one broker, but sells time share property for another, a broker that is active in more than one brokerage firm, An individual passes the real estate license examination, then sends in his license application. 100,000, Kathy the Consumer has filed a claim for payment from the Transaction Recovery Fund. 2. that she has an unrealistic opinion on the value of the property 1. a court having jurisdiction over the brokers principal? B. 1. 1. a personal loan $750,000 1. is in violation of the VA license law When she returns on July 5, Jane realizes that her real estate license expired on May 31. 2. principal broker 1. complies with the regulations 2. a consumer that has been defrauded in a real estate transaction 1. no, because he acted in suzys best inerests Who is most likely to collect? VA association of realtors 1. send the salespersons license to the new broker what must be included in this property advertisement? In the situation described, which of the following statement is true? In CA, real estate law is enforced by the: Anything of value to be held for a client or customer. 4. a common practice accepted by the industry, Jack the Broker sends an email to Mike. 4. none of the above, a broker would not be in violation of VA license law if he: Automatically fine the licensee for $1,000, then schedule a hearing 4. location of property, Bill hires Larry to sell his home. 1. 1. the MLS service 4. it does not disclose the agents license status, which of the following statements is true regarding the multiple listing service? 3. the friend need not be licensed 1. any other salesperson or cooperating broker, as long as he finds a ready, willing, and able buyer 3. affiliate with a broker and submit an application for licensure The licensee named in the claim must post a bond in order to continue practicing real estate 2. salesperson's employing broker 500,000 .3. the ad makes false or misleading statements 3. if he gives his current broker 30 days notice 1. a broker that is active in more than one brokerage firm D. any felony conviction 3. the license will be automatically suspended 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: 1. neither susan nor gene is in violation of the law 6 months VA real estate board 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. 40 2. is ready to advertise the property c) A real estate broker is presumed to know the law governing the regulated real estate activities in which he or she is engaged. D. When a claim is paid, the respondent's license will be automatically suspended, What is the maximum amount that can be paid from the Transaction Recovery Fund for claims against the same licensee during a two year period? 4. complies with the regulations, so long as it is at least 12 point, bold font, John is holding an open house. D. All of the above, Which of the following statements about the Transaction Recovery Fund is correct? Neither Cindy nor her broker may accept this listing payment received, license revocation and in order to perform community 3. a real estate transaction Which of the following statements is true? 900,000, if a person wants to make a claim from the transaction recovery fund, where should this claim be filed? 3. the developer may publish the ad as planned, but it cannot run for more than 4 weeks 1. member of the MLS 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. 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? 2. an assessment from active licensees to restore the fund to the minimum balance Refer to the information presented on the exercise related to Wilson Towing Service. Visit their website for more details and the most current disciplinary action. 1. must be carried at all times to establish that she is licensed Fowler may have anything over that amount as commission. PO Box 9425 Stn Prov Govt. not cash, when the recipient of the payment is licensed broker in another Larry, Darrell, and Tony all file claims for payment from the Transaction Recovery Fund. 3. Therefore, Robert decides to advertise his firm via banner ads on commercial web pages. He works out a deal with Larry (a developer), Darrell (a contractor), and Tony (a mortgage banker). D. No one, A real estate license could be suspended without investigation if the licensee: 2. the seller needs a larger house C. $750,000 A sales agent obtains a listing and advertises the property as follows: "Spacious 3 bdrm., ideal loc. His license is automatically reinstated Yes, Cindy may accept this rental listing because brokerage fees are always negotiable between the owner and the agent 4. be a resident of VA, by VA regulation, a licensee that is "actively engaged" is defined as someone who works: She started looking for new firms after the accusations were made, but can't transfer until her license is returned to the Board. 3. the licensee is required to disclose the name of his employing broker 3. failing to inform the seller of the ethnic character of a buyer 3. an employee of a broker, who negotiates leases 3. violated the fair housing act 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. District of Columbia, a territory, a foreign nation, or a governmental agency authorized to impose discipline if at least one of the grounds for that discipline is the same as or the equivalent of one of the grounds for which a licensee may be disciplined under this Act. 1. 1. disclosures Has Robert violated the rules? Authorized Real Estate Schools This list is updated regularly to reflect new or expiring real estate schools. 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. 1. acceptable, if no one is defrauded 1. real estate transaction recovery act 2. land tort reform act 3. real estate license law 4. virginia fair housing act, the real estate board regulates: 1. the wording contained in standard exclusive right to sell listing agreements 2. disputes between brokers or salespersons 3. the real estate licensing examination 3. charges more than the legal maximum commission rate 4. 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 . 4. to comply with federal law, which person is required to hold a real estate license? 20 in a two year period 1. a firm partner who does not participate in the brokerage business 2. the respondent must assign all commissions and personal property to the claimant or the board 3. standardization of the clauses contained in a listing agreement 3. legal, if ellen performed as agreed 1. misrepresentation Experts are tested by Chegg as specialists in their subject area. 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? 1. should contact the local realtors association and obtain a temp license to sell property During this period, Adam: Which of the following statements is true regarding the advertisement? 4. all of the above, a real estate license could be suspended without investigation if the licensee: What is the maximum that one licensee may be assessed during a two-year period? A common misconception among consumers is that real estate agent and realtor are interchangeable terms. 2. post a bond 1. creative marketing dream11 kabaddi team today; political journalist jobs near hamburg; 2. the VA real estate board 100,000 Automatically suspend the broker's license 1. the developer may publish the ad as planned 3. chairman of the board 1. salaried rental property personnel, accepting lease applications on behalf of another The Board now has the right to: 2. legal, if disclosed im writing to all parties 20 B. (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.) 3. name of the brokers firm 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. 30 in a two year period, Kerra the Consumer has filed a claim for payment from the Transaction Recovery Fund. 1. suspension of his license and a fine 2. a consumer that has been defrauded in a real estate transaction If necessary, the Board may reassess licensees: A. a licensee's obligation of confidentiality ends at the 3. yes, because the ad appears on another commercial site 1. was aware of the improper dealings performed by his salespersons 2. send the salespersons license to the real estate board 4. a receiver in a bankruptcy proceeding, A licensee is on vacation when his license expires. Disciplinary Action. No, but the listing may be accepted by Cindy's broker, who in turn will pay Cindy the brokerage fee Let f(x)=2x3(x2)3f(x)=\frac{2x}{3(x-2)^3}f(x)=3(x2)32x. Main: 919-875-3700. 4. she must affiliate with a licensed VA broker, Angela operated her own brokerage firm until she unexpectedly passed away. Has Billy violated the VA License Law? 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. 1. the licensee is exempt from both the federal and VA fair housing laws Board may reassess licensees: 1. 2. made available for inspection by the representatives of the real estate board 3. write a thank you note to kirks 4. impose a criminal penalty, the real estate board may investigate the activities of a salesperson: 3. 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. 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? A. 2. the real estate board within 30 days 2. maintain an escrow account at an insured depository in the state 2. violation of anti trust laws C. $100,000 which of the following is true? Not flaggedFlag question 696.301. 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. 193E4.2(543B) Method of discipline. 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. principal brokers 750,000 1. an auctioneer 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. sayumi cannot engage in acts of brokerage 24 months 3. meet the current educational requirements and pay the renewal fee 2. automatic revocation of the real estate license The principal broker has all of the following duties, except: 2. advise the board within 30 days 2. salespersons and associate brokers must renew their licenses every two years in the month of their birth date 2. suspend or revoke any license issued by the real estate board Real estate managing broker license fined $10,000 for engaging in licensed real estate activities without a license, entering into 4. All real estate licensees are subject to discipline by the REEB as well as litigation. 4. all of the above, a person who, for compensation, helps to sell his neighbors home, when a salesperson takes a listing, the commission amount is determined by the: Regulatory Affairs: 919-719-9180. 2. both partners must have a brokers license 2. placed on private property without permission of the owner 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. 2. instant messaging 400,000 2. general listing C. Automatically revoke the broker's license 3. a broker and the local association of realtors 400,000, In a single transaction, what is the maximum amount that a person can collect from the Transaction Recovery Fund due to licensee misconduct? 3. mary may continue to engage in acts of brokerage if she can establish that the postal service lost the renewal notice In order for Kathy to collect, she must have already: 20 every year 1. failing to disclose to buyers that were termites in the property 1. a salesperson licensed in another state For failure to pay an assessment to the TRF 3. tell the seller that there is an offer, but it will have to wait until monday to be presented 3. renew his license every 2 years by paying the renewal fee 3. advertising that a property listed by a firm is for sale by owner C. Tony, the mortgage banker the real estate license of any person or firm may be revoked by which of the following entities? 3. this is not permissible because the $100 fee must be paid to smith through berrys employing broker According to Virginia regulations: Placement of directional signs is illegal if: 1. that she is not affiliated with a brokerage firm or sole proprietor 2. if the licensee admits guilt Phone 123-4567"? 2. only upon receipt of a written complaint setting forth the alleged violation 1. an investigation will be conducted unless the law specifically provides otherwise 1. a fictitious name 2. the board may order criminal penalties 1. it can only accept residential listings What must she do? 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? Method 1 Qualifications and Education 1 Find out the licensing requirements where you live. 3. a rental location agent Who is most likely to collect? 2. this is a questionable business practice and may constitute mail fraud 4. all of the above, The principal broker of a real estate franchise must make certain disclosures when advertising. 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. Which of the following statements is correct? Box 1339 Jefferson City, MO 65102-1339 573.751.2628 Telephone 573.751.2777 Fax . State whether you think the rule is true. $800,000 4. Was this action permissible? $400,000 1. nothing 3. permissible, with the written permission the owner 2. an auctioneer 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? 2. no, because billy is a broker 1. has the owners permission 2. continue to use cards and stationary which state that he is a licensee Sayumi is therefore designated as a senior partner of the brokerage firm. The Provisions of the Real Estate Licensing and Registration Act apply to a. a trustee who participates in real estate transactions under the authority of a court order b. an attorney at law who participates in real estate transactions on behalf of a client c. a real estate licensee selling real estate she owns 3. no, security deposits are held for tenants in an escrow account and are not part of the operating funds 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 4. the licensee is not subject to the rules and regulations of the board, the license may be exempt from the VA landlord tenant act, which of the following persons is not exempt from the licensure requirements? 1. cash the check if she deserves it 1. real estate commission for which of the following reasons? 3. her license will be temporarily suspended until the board can hold a hearing 1. complete an 18 credit hour course in the principles of real estate Which of the following persons could become licensed without taking an examination? 4. the inspection service provides a warranty, the fee is acknowledged, in writing, by the parties to contract, A salesperson candidate is required to take a certain number of credit hours before sitting for the state licensing exam. 3. sell or rent investment property for profit 3. the office must have a separate license 20,000 near schools, shops and trains. 1. president of the corporation 4. cash the check, but inform bob, a real estate salespersons license may be revoked if the licensee: The purpose was to cause the customer, Milton, to act in a way that results in a personal loss. 2. can only conclude the transactions in the process to facilitate the termination of the business 4. neither 2 or 3, when a salesperson is alleged to have violated the license law, which of the following is true? 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? 1. email Following are recent disciplinary actions taken by the Real Estate Division of the Illinois Department of Financial and Professional Regulation. 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: But, Sally is innocent! 3. that she is describing an exclusive agency listing 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. 2. it does not include the property address Call Chris at 555-0000 for details." 1. in ratio and tv ads 24 hours of continuing education, the real estate license of any person or firm may be revoked by which of the following? 2. bait and switch Gene agrees to split the commission with Susan, but neither one advises the seller or the buyer of their agreement. 1. engages in acts of brokerage wile on inactive status For failure to pay an assessment to the TRF within 10 days year, Soliciting listings in a multi-ethnic neighborhood, preparing a listing contract that leaves the duration 6 licensees and 1 consumer 3. supervising broker 40-25(b)(17)). 4. all of the above, claims for payment from the transaction recovery fund are filed with the: 10 days a real estate licensee may be disciplined for. 4. the broker is automatically responsible for all actions of any person affiliated with the firm, if the broker knew or should have known of the agents actions, which person would not need a real estate license? 4. the salesperson, which is not a requirement to become a broker in VA? 5 years, licensees must respond to board inquiries within: 4. is common and completely legal, which of the following actions is not a violation of VA real estate ls and regulations? 1. yes, because the rules require specified disclosures in emails 2. 1. if the broker knew or should have known of the agents actions 1. be retained by the principal broker indefinitely Who is responsible for the expenses and fees of the court-appointed receiver? 4. non resident, licensed in another state as a broker, if a licensee changes their surname, it is the responsibility of the licensee to: C. A real estate transaction 4. both 1 & 2, A licensee presents a full-price offer to the seller, subject to a home inspection. 3. the licensee must forfeit all commissions earned Which of the following is the maximum penalty that d. The problem may be directed to the North Dakota Real . 2. its own initiative, without any written consent 1. a brokers license must be renewed on june 30 of every even numbered year 4. schedule a hearing to determine guilt or innocence, which of the following persons could file a claim for payment from the transaction recovery fund? He now owns a small bakery in Tuscaloosa. B. 3. C. Kerra claim cannot include interest in her damages 50 A real estate licensee may be disciplined by the Pennsylvania Under these circumstances, Carla: the salesperson can only do this: 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. 1. firm license 1. fraud 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? 3. the broker notify the board within 30 days Three times a year, the DRE offers an open forum meeting to members of the industry. 4. both 1 & 3, affiliate with a broker and submit an application for licensure, the real estate board consists of: 1. the old broker and the new broker hold joint responsibility C. All claims submitted in relation to a licensee's misconduct in a single transaction may not exceed $20,000 1. gene should send his license to the board and request an associate brokers license 1. only receive referral fees for sending buyers to other salespersons in his office 3. automatically revoke the brokers license . Gene, an independent broker, lists a property. 3. revoke the salespersons license pending a hearing the real estate board could withhold issuance of a new license, forever, which of the following persons may file a claim and collect from the virginia transaction recovery fund? An investment in a limited real estate partnership 2. 1. the office must be licensed D. $100,000, A license may be suspended without benefit of a hearing: 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: If Brenda wants to keep the money and NOT violate VA License Law, she could: 3. attend at least 3 seminars conducted by the board 3. the board, using money from the transaction recovery fund 4. all of the above, imposing a fine of $5000 for each violation, If a broker acts for more than one party in a real estate transaction without the full knowledge and consent of all parties, it is: $471.8360%. After that, Tony would handle the mortgages of any buyers through his bank. 3. does not pay the transaction recovery fund assessment Her long-time friend, Sayumi, is not licensed as a real estate agent. 1. at any time 1. it is mailed to the licensee for delivery to the employing broker 1. be a citizen of the US In December 2015, the department received a complaint and opened an investigation into allegations the salesperson was using a Facebook page to . the Pennsylvania real estate Commission can impose on that Kellie, the buyer of the property, contacts Larry to advise him that the closing needs to be extended for one week. 10,000 C. $20 every two years 3. less than 20 hours per week 1. trustee acting under a court order 3. she may handle up to 6 transactions (listing or sales) in VA The Board now has the right to: Ben suggests that he may be able to help. 1. the inspector is licensed in VA After investigation, the Board finds that the broker is innocent of any wrong doing. 3. an office cannot operate on a residential property

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