13830176d2d515a9785127a74 a real estate licensee may be disciplined for

C. Tony, the mortgage banker Automatically fine the licensee for $1,000, then schedule a hearing 4. all of the above, a real estate license is not required for a: 1. that she is describing an open listing 4. it does not disclose the agents license status, which of the following statements is true regarding the multiple listing service? 4. 3. This arrangement between the two is: 1. the branch office license Credit card sales (2% credit card fee)$250,000. When representing a seller, which of the following is a TRUE D. The licensee may continue to sell real estate if a court has adjudicated him as bankrupt, The license will be automatically revoked, Mosley Virginia Real Estate Test (Practice), Elliot Aronson, Robin M. Akert, Samuel R. Sommers, Timothy D. Wilson, Calculus for Business, Economics, Life Sciences and Social Sciences, Karl E. Byleen, Michael R. Ziegler, Michae Ziegler, Raymond A. Barnett. 3. advertising that a property listed by a firm is for sale by owner C. Only to revoke the license, as provided by Virginia law 4. attempting to change employing brokers more than three times in Susan, also an independent broker, sells the property. 4. this is a good sales strategy, Broker Evans fired Sally because she was stealing from the petty cash fund. Divide. In this situation, which of the following statements is correct? D. All of the above, The claimant assigns his rights to the Board, to the extent of the amount of money paid by the Fund, When the Transaction Recovery Fund balance falls below a statutory minimum, it results in: Which of the following statements is correct? Encourage higher education in real estate But to earn the trademarked title of "Realtor," a real estate licensee must officially join the National Association of Realtors, the largest trade organization in the country representing almost 1.6 million members. 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? Ben is a licensee and Jerry is interested in locating property in Ben's area. 1. an auctioneer 1. the VA association of realtors 2. must be displayed in a conspicuous place in her home office 2. automatically fine the licensee for $1000, then schedule a hearing 3. if there is a violation of the boards regulations 2. she may operate in the role of a salesperson in VA 1. inform their employing broker 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: A. 3. encouraging a homeowner to sell since minorities are moving into the neighborhood She asks Salesperson Boren to manage her rental home for $45 per month while she is gone. 1. neither susan nor gene is in violation of the law 3. take a new exam A licensee can advertise a listed property by means of a blind ad when: A licensee hired by a broker to engage in real estate activity on behalf of the broker must: Be employed under the terms of a written agreement that documents their employment relationship, never infer to a customer or client that they are in business for themselves, and receive all compensation from the broker. 2. revoking the persons license 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: Standard of Practice 1-2. 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. 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 entity would NOT involve itself in resolving the matter? 1. take the license exam as a new applicant 3. employed by another broker 3. return all customers cards to the employing broker 3. write a thank you note to kirks 1. Gene agrees to split the commission with Susan, but advises neither the seller nor the buyer of the agreement. 2. failing to disclose adverse zoning that affected the property 1. the claimant must have gone after any assets and property belonging to the debtor 3. attend at least 3 seminars conducted by the board 3. gene must obtain a brokers license 10 hours, Two individuals want to form a real estate partnership in Virginia. When this happens, Vera plans to work with Broker Jane. the board takes disciplinary action against a licensed salesperson. Therefore, Robert decides to advertise his firm via banner ads on commercial web pages. Test the following rules with several different sets of numbers. unspecified. Thus, the term REALTOR should not be used to generally refer to all real estate licensees. 3. susan is guilty of accepting money from someone other than her employing broker 2003-2023 Chegg Inc. All rights reserved. 1. sayumi cannot engage in acts of brokerage An assessment from all licensees to restore the fund to the minimum balance 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. 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: 1. any other salesperson or cooperating broker, as long as he finds a ready, willing, and able buyer 2. a fine only 3. mary may continue to engage in acts of brokerage if she can establish that the postal service lost the renewal notice Prepare the balance sheet for Wilson To"\ving Service as of June 30, 2018. 1. apply for active status within 3 years This action would violate the Real Estate Board regulations unless: 1. levy fines 1. 2. encourage higher education in real estate An investment in a limited real estate partnership 1. send a copy of the charges to the salesperson at his last known business address 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 . 1. Bob accepted the check since he worked hard and felt the bonus was deserved. 3. must be kept at the employing brokers main place of business 12 Practice Questions. 6 Common Violations for Real Estate Brokers in California 20 every two years 3. the office must have a separate license 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. 31 days, The Board determines that a licensee misrepresented information on her license application. The salesperson can pay this referral bonus to: 2. only upon receipt of a written complaint setting forth the alleged violation 1. the business name must include the name of the investor 4. the licensee may continue to sell real estate if a court has adjudicated him as bankrupt, the license will be automatically revoked, if a payment is made on a brokers behalf from the transaction recovery fund, what action does the board take? 2. maintain an escrow account in VA 4. either 1 or 3, which of the following statements must be true about a real estate salespersons license? 1. sells insurance from the real estate office where she is employed 150 what must be included in this property advertisement? Ellen deposits the money into her personal checking account. Regulatory Affairs: 919-719-9180. 3.. employ at least one salesperson or associate broker that is also a resident of VA Holding more than one license as a real estate broker or salesperson in Virginia except as provided in this chapter; 3. 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: PDF CHAPTER 4 DISCIPLINE AND HEARING PROCEDURE [Prior to 6/15/88, see Real 4. be a resident of VA, by VA regulation, a licensee that is "actively engaged" is defined as someone who works: 20 in a two year period C. $100,000 4. list and sell property for relatives at a discounted price, renew his license every 2 years by paying the renewal fee, the VA real estate board has the power to take all of the following actions, except: 1. a licensed salesperson, to recover money that his brokers owes 3. filed a claim against the salespersons broker Unit 26: Washington License Law Enforcement (11%) 4. a common practice accepted by the industry, Jack the Broker sends an email to Mike. Call Paula after 5 at 123-4567." 4. filed a claim with HUD, filed a claim against the salesperson in a court of competent jurisdiction, which of the following persons may file a claim and collect from the VA transaction recovery fund? 2. general listing 2. no property location specified 2. an assessment from active licensees to restore the fund to the minimum balance 2. branch license 4. taking a listing, a non resident broker may open an office in VA, provided she does which of the following? 1. place where real estate business is regularly transacted Larry, Darrell, and Tony all file claims for payment from the Transaction Recovery Fund. A. 2. 2. 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? 1. 4. any of the above, a person seeking a real estate license in VA must be: California Real Estate Principles (Chapter 18), Chapter 16: California Real Estate License Law, Real Estate Principles - Chapter 17 (Real Est, Chapter 15: Property Management and the Landl, Chapter 17: Real Estate Residential Construct, Alexander Holmes, Barbara Illowsky, Susan Dean, Anderson's Business Law and the Legal Environment, Comprehensive Volume, David Twomey, Marianne Jennings, Stephanie Greene, John David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine, Neuro II - Exam 2 Ch. 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 30 hours of post license education 3. conversion 1. in VA, anyone who sells real property must have a real estate license 4. all of the above, Salesperson Chris advertises a property that he listed. 2. made available for inspection by the representatives of the real estate board 1. firm license Discipline Procedures | BCFSA 1. suspend the respondents license 2. uniform commercial code A. inability to obtain automobile liability insurance, B. habitual intoxication or drug addiction. 3. that she is describing an exclusive agency listing 1. an attorney at law 2. 4. apply to have her license placed on inactive status, apply for reinstatement of her license and pay a fee, the real estate license of any person or firm may be revoked by which of the following entities? 2. a licensee accused in the claim must sell all personal possessions to satisfy the claim A fine of up to $20K and/or 6 months for an individual and up to $60K for a corporaton. An assessment from active licensees to restore the fund to the minimum balance 4. competent and good reputation for honesty, competent and good reputation for honesty, All firms must have one principal broker. 3. the licensee must forfeit all commissions earned Seller anxious to move. 18VAC135-20-260. 1. maintain an office in VA A real estate license entitles a licensee to represent a client in: Loan brokerage, business opportunities, and property management activity. In terms of law, real is in relation to land property and is different from personal property while estate means the . Unfortunately, Craig has been so busy that he hasn't taken any continuing education yet. Following are recent disciplinary actions taken by the Real Estate Division of the Illinois Department of Financial and Professional Regulation. 2. can only conclude the transactions in the process to facilitate the termination of the business A) Cynthia, age 55, who has a master's degree and has lived in Alabama for the past five years. Call Paula after 5 at 123-4567." 40 For failure to pay an assessment to the TRF within 10 days 2. darrell the contractor 4. the VA association of realtors, the VA real estate board is empowered to do all of the following, except: Irma Craft, a real estate salesperson for Luckless Realty has an arrangement with RidX Pest Control Services to receive a $25.00 referral fee for any customer she refers to Rid X. 2. is not in violation of the VA license law, so long as she informs her broker Licensing Flashcards | Quizlet 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. 1. the court that appointed the receiver 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. a written complaint 3. standardization of the clauses contained in a listing agreement 2. the developer cannot publish the ad as planned 4. the local realtors association, under the brokers supervision, his unlicensed assistant may: Prohibited acts. 2. for failure to pay an assessment to the TRF within 10 days 10,000 Real estate license - Wikipedia 45 hours 1. paying a finders fee to an unlicensed person 2. A. 750,000 3. permissible, with the written permission the owner 3. sayumi can be a senior partner, but she cannot be the principal broker Accounting for all funds; 7. 4. after 3 complaints have been received, Allison is a broker who knowingly stated an false material fact. 2. a person acting as a trustee in bankruptcy 4. must be in good standing in any jurisdiction where licensed, must complete 145 credit hours of courses approved by the board, For a corporation licensed to engage in real estate business, which individual is primarily responsible for those real estate activities? 2. if the agents actions were outside the authority granted by the employing broker 2. person selling a vacant lot for a fee 2. apply for a temp license until he affiliates with a broker 3. selling a business for a relative In other words, a real estate licensee can legally only pay another licensee for the referral of real estate brokerage business. 1. investigate the actions of any real estate broker or salesperson 4. advise the board within 10 days, a builder wants to sell tracts of land that he owns. a real estate licensee may be disciplined for. 2. impose a monetary penalty of up to $1,000 2. an auctioneer $750,000 The notice of intent to issue a cease and desist order must include a statement of the alleged unlicensed activities, and failure to file a request for a hearing within 20 days after service of the Notice is considered a default, allowing the Director to make a permanent cease and desist order . Unfortunately, the salesperson forgot to renew her license when it expired on December 31. 3. his license will expire 1. reapply for her new license as a new applicant 3. an unlicensed friend, as long as he finds a ready, willing, and able buyer 1. name of the listing salesperson 4. place where the broker maintains transactions and escrow records in a safe deposit box, place where real estate business is regularly transacted, when a salesperson transfers from one broker to another, it is the duty of the former broker to: A second group was asked to do this after thinking about an organic fruit salad. 4. all of the above, The principal broker of a real estate franchise must make certain disclosures when advertising. Which of the following statements is true regarding the advertisement? 3. renew his license every 2 years by paying the renewal fee 36 months, Which of the following statements is correct if a licensee is leasing his own property, without help from a broker? 3. net listing 1. complete the mandatory postlicense education requirement 1. yes, because the required disclosures must appear in the ad itself 1. upon demand by the board 15,000 You'll get a detailed solution from a subject matter expert that helps you learn core concepts. Which of the following statements is true? 4. principal broker, A tenant lives in a four-unit apartment building. 2. tell the buyer it will have to wait until monday 4. prepare and file papers for tenant eviction for non payment of rent, prepare and file papers for tenant eviction for non payment of rent, an associate broker is described as a: RE57R07: Brokerage Relationships | Mass.gov 3. a court of law having jurisdiction over the brokers In CA, real estate law is enforced by the: Anything of value to be held for a client or customer. Under these circumstances, Carla: 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. 20,000 The business will be operated as a sole proprietorship. 2. their licenses will also be suspended 1. the person who is active on the brokerage side of the business must have a brokers license 4. supreme court judicial procedures act, Sarah Smith sees an ad from Broker Mark for a custom built home with mountain views, hardwood floors, a theatre room, and a professional kitchen. Visit the Bureau of Real Estate's website at http://www.dre.ca.gov/. Automatically suspend the broker's license 2. the respondent must assign all commissions and personal property to the claimant or the board 2. maintain an escrow account at an insured depository in the state 1. 1. either buyer or seller, based on their agreement Deal direct w/agent and save. 2. any property owner 1. the board may take disciplinary action $800,000 C. $750,000 He agrees to maintain the building if he can receive a reduced rental fee. 1.00 points out of 1.00 2. advise the licensee of the charges another offer during negotiations on a purchase contract, C. A licensee is required to keep confidential the price the 3. an attorney who is offering real property for sale under court order 4. both 1 & 2, if the board receives a written complaint about a licensees actions, what does the board always do? 3. her employing broker Her long-time friend, Sayumi, is not licensed as a real estate agent. Rules and Laws Our license holders are governed by the Texas Real Estate License Act, the Inspector Act, and the Timeshare Act. The license will be automatically revoked 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. the renewal fee, plus $20 payment for the transaction recovery fund 3. she does not need a real estate to sell her own house 3. may only employ licensees to sell each tract 1. a broker and a salesperson, involving employment conditions statement regarding the duties a licensee owes to the 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. 1. suspend the license until a formal hearing can be conducted 1. attest to a prescribed level of competency Not flaggedFlag question 4. affiliate with a licensed VA broker, A licensee was out of town on personal business. 18VAC135-20-260. Prohibited acts. - Virginia 2. the license will be automatically revoked 3. both the tenant and owner are subject to board regulations 3. affiliate with a broker and submit an application for licensure Susan decides to sell her own house. 2. at least 30 hours per week 2. the investor must hire a broker to manage the business 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: 2. 4. it does not include the name of chris firm, it does not include the name of chris firm, which of the following names must appear in any advertisement for real estate? A licensee has been found to have committed acts prohibited by 3. they direct the public through a neighborhood more desirable than the subject property 3. is not in violation of the VA license law, so long as she informs the buyer 1. commingling 3. their licenses must be returned to the board 3. in newspaper ads consisting of more than 28 lines of copy 4. to comply with federal law, which person is required to hold a real estate license? seller would accept if lower than the list price, D. a licensee is obligated to disclose to a consumer the minimum 4 years 3. a real estate developer that has been defrauded in a real estate transaction year, Soliciting listings in a multi-ethnic neighborhood, preparing a listing contract that leaves the duration It is true for all positive real numbers aaa and bbb that a+b=a+b\sqrt{a+b}=\sqrt{a}+\sqrt{b}a+b=a+b? 1. email One night, Larry replies to one of Bill's emails, but includes none of the required disclosures. 4. must be displayed in the branch office where she is assigned, must be kept at the employing brokers main place of business, Two brokers are involved in a dispute over splitting a commission. On the day of the showing, he places several directional signs throughout the neighborhood. 3. be furnished to the board every 3 years Main: 919-875-3700. Bill dies, so Jan wants to allow Gene (a salesperson with 8 years experience) to replace him. 1. immediately present the offer 1. a salesperson licensed in another state 3. hold degree in real estate 2. a rental location agent that is also licensed as a broker 4. gene may continue to operate under his existing sales license, Two brokers are involved in a dispute over a commission split. d. The problem may be directed to the North Dakota Real . 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:

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