3. in newspaper ads consisting of more than 28 lines of copy 1. a referral agent 3. the salesperson license will be temporarily suspended until the board can schedule a formal hearing 1. 3. encouraging a homeowner to sell since minorities are moving into the neighborhood 12 months 4. 1. the broker is guilty of: 3. seller and salesperson a real estate licensee may be disciplined for. 4. both 1 & 3, affiliate with a broker and submit an application for licensure, the real estate board consists of: A sales agent obtains a listing and advertises the property as follows: "Spacious 3 bdrm., ideal loc. 3. administrative process act 3. is illegal since it would allow the broker to take advantage of an uninformed seller administrators, selling property under court order and for a fee Ben is a licensee and Jerry is interested in locating property in Ben's area. After that, Tony would handle the mortgages of any buyers through his bank. 2 years This arrangement is: Grounds for disciplinary action by the commissioner. 3. 2. the tenant must establish an escrow account 4. ask the court to attach any commissions due the salesperson, pending outcome of the investigation, send a copy of the charges to the salespersons broker at the brokers place of business, every real estate office in VA is required to: 1. pay a license reinstatement fee Larry has: Exceeded the scope of his authority and violated real estate law. 1. nothing 3. permissible, with the written permission the owner 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. 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? 1. reapply for her new license as a new applicant 1. determining commission splits between all MLS brokers Which of the following statements is true? The insurance broker pays $50 to the real estate broker for every referral that buys insurance. 2. placed on private property without permission of the owner 3. inducement Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general. 2. violates the VA real property act 4. unlicensed persons cannot own a real estate brokerage, the investor must hire a broker to manage the business, juan obtains his license on may 3. how much continuing education must juan complete? 4. under no circumstances, for failure to pay an assessment to the TRF, the purpose of the transaction recovery fund is to: Three times a year, the DRE offers an open forum meeting to members of the industry. what must marty do before he can start selling real estate? 2. must supervise all firm advertising The email describes the real estate services Jack provides and encourages Mike to call for more details. 1. email 4. disparate impact, a licensed real estate salesperson may receive money to manage real property from: When people make estimates, they are influenced by anchors to their estimates. 2. no, because it is permissible to provide a link to the required disclosures However, she agrees to provide most of the start-up money in exchange for a share of the anticipated profits. 4. all of the above, a real estate license is not required for a: What must the licensee do if she wants to remain licensed? 6 months 3. the developer may publish the ad as planned, but it cannot run for more than 4 weeks Sayumi is therefore designated as a senior partner of the brokerage firm. A. 3. the board will issue her active license to her principal broker 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 . 1. gene should send his license to the board and request an associate brokers license 2. director 3. the firm must be incorporated in VA Vera should: VA association of realtors C. $750,000 3. After that, Tony would handle the mortgages of any buyers through his bank. 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? 3. an employee of a broker, who negotiates leases 1. cash the check if she deserves it 1. employs a resident broker to represent her 1. failing to disclose to buyers that were termites in the property 3. less than 20 hours per week 2. can only conclude the transactions in the process to facilitate the termination of the business The respondent must assign all commissions and personal property to the claimant or the Board This arrangement between the two is: When this information leads to a sale, Berry pays her $100 for the tip. A personal loan 3. apply for inactive status until the new broker has business cards printed 1. send a copy of the charges to the salesperson at his last known business address 1.00 points out of 1.00 3. if the owner is a non resident of VA 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. may only employ licensees to sell each tract 3. the firms licensed name must be clearly and legibly displayed 2. must complete 145 credit hours of courses approved by the board A. A. Complete instructions on filing a Notice of Appeal are available on the Financial Services Tribunal's website at www.fst.gov.bc.ca or by calling (250)387-3464. 3. affiliate with a broker and submit an application for licensure 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. 2. giving a false address in order to obtain a license 4. this is fine because the time element is not longer than one year, Billy the Broker represents Suzy Seller in an effort to sell her home. It will attempt to resolve the problem without the necessity of legal expense. 1. acceptable, if no one is defrauded 1. neither susan nor gene is in violation of the law Which of the following statements is true in this situation? conclusion of the listing contract, B. a licensee is not obligated to disclose the existence of 2. both partners must have a brokers license In this situation, which of the following statements is true? 3. renew his license every 2 years by paying the renewal fee 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: 1. a court of competent jurisdiction 2. 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. 4. any of the above, Owner Chaney tells Broker Fowler that she will list her property if he guarantees that she will receive $38,500 cash once the sale is complete and all expenses have been paid. 4. ask another salesperson in the office to present the offer, Broker Foster manages an apartment building for Owner Smith. 1. the owner and the tenant are exempt from the real estate license law 3. the board, using money from the transaction recovery fund Not flaggedFlag question Pennsylvania real estate license law? Under what circumstances may listing real estate broker in A study was conducted in which students were asked to estimate the number of calories in a cheeseburger. 2. Prior to actually running the ad, the developer receives an offer for the $10,000 lot which he intends to accept. 4. the salesperson can be aid if she retakes the state licensing exam, the salesperson is entitled to receive her commission, Incorrect 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: 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: 2. darrell the contractor Larry, knowing that Mark will benefit from the extension because he will not be given possession of the house he has purchased until his sale closes, signs Mark's name to an addendum extending the closing. 3. enable licensed real estate professionals to earn more money 4. all of the above, a real estate license could be suspended without investigation if the licensee: 1. an investigation will be conducted unless the law specifically provides otherwise 4. 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? 45 hours of post license education 1. firm license 1. to facilitate supervision, it must be located within a reasonable distance from the main office 1. an auctioneer 2. give additional info to callers about available listings VA association of realtors regulations 2. a rental location agent that is also licensed as a broker 3. place that is managed by a senior salesperson 1. is in violation of the VA license law 1. reimburse financial losses caused by licensee misconduct 4. files an irrevocable consent to suits and services, files an irrevocable consent to suits and services, newly licensed brokers must complete: 2. an assessment from active licensees to restore the fund to the minimum balance 2. do nothing, as the license automatically renews every 2 years If a salesperson quits or is discharged by his or her broker, the broker is required to return the salesperson's license within: All transactional documentation for listings, purchase and sale agreements, property management activities, exchanges, and trust account records must be retained for a period of: Depositing trust funds with personal or business funds. 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. 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. 3. file a complaint with the real estate board 1. complete the mandatory postlicense education requirement Round answer to the nearest cent. 4. a 20% decrease in the maximum payment one may receive from the fund, an assessment from all licensees to restore the fund to the minimum balance, 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? Holding more than one license as a real estate broker or salesperson in Virginia except as provided in this chapter; 3. After moving to Virginia, her neighbor finds out about this experience and asks Carla to sell his home. 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. Bob the Buyer makes an offer that is $20,000 below what Suzy is asking. Which of the following statements is true regarding the advertisement? 1. she may act as a broker in VA by virtue of her valid out of state license Harry sells three houses, then runs off with all the funds. One night, Larry replies to one of Bill's emails, but includes none of the required disclosures. 3. ben must disclose his email address Not flaggedFlag question D. A 20 percent decrease in the maximum payment one may receive from the fund, An assessment from all licensees to restore the fund to the minimum balance, The purpose of the Transaction Recovery Fund is to: At Uptown Arts, gross sales for the month included: Sales on account (2/10, n/30) $350,000 3. standardization of the clauses contained in a listing agreement 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. investigate the actions of any real estate broker or salesperson 4 years A real estate licensee may be disciplined by the Pennsylvania real estate commission for which of the following reasons? 2. the ad fails to disclose that the owner is a licensee 1. the principal broker Bill prefers to communicate with Larry via email. 4. all of the above, a consumer that has been defrauded in a real estate transaction, what is required in order to be eligible for a VA salespersons license? Under the circumstances, which of the following statements is true? 3. the business can only be organized as a corporation 3. yes, because the ad appears on another commercial site I am a. 1. salaried rental property personnel, accepting lease applications on behalf of another 2. it is prominently displayed in the main office of the salespersons firm 1. that she is not affiliated with a brokerage firm or sole proprietor 3. a rental location agent 3. refusing to hold an open house, at the request of his broker 3. the clerk must be licensed as a broker May Cindy accept this rental listing? statement regarding the duties a licensee owes to the 3. revocation of his license and a fine 1. Reimburse financial losses caused by licensee misconduct commission split between the licensee and the broker, What is the maximum time an aggrieved 3. A. C. The license will be automatically suspended 3. selling a business for a relative 1. kept for a period of 7 years 1. 2. a person who will only work as a referral agent License Categories [G.S. 4. salesperson license, A salesperson decides to offer a $500 referral bonus to anyone that finds an acceptable buyer for his listing. 2. post office box 1. renting 1/2 a duplex for a friend 50,000 2. the office can be managed by a salesperson with 3 years experience 2. with written permission of the VA real estate board 4. the salesperson, which is not a requirement to become a broker in VA? dream11 kabaddi team today; political journalist jobs near hamburg; 30 hours before he can actually receive his license, VA license law defines a brokers place of business as a: 4. pay the required renewal fees, Jan and Bill have a real estate brokerage partnership. 2. for failure to pay an assessment to the TRF within 10 days 1. real estate board 4. the listing broker, brokers must retain records of real estate transactions for at least: 1. a personal loan 3. attend at least 3 seminars conducted by the board Broker XYZ. Mark is in Europe for two weeks and cannot be reached. 1. the office must be licensed 4. seller and broker, Bob, an associate broker, sold a property. what should the salesperson do? 3. does not pay the transaction recovery fund assessment 1. his license is null and void 3. she does not need a real estate to sell her own house 3. 3. 2. local association of realtors 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 . which of the following must be incorrect? 1. seller C. $600,000 Ellen deposits the money into her personal checking account. 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?
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