13830176d2d515a9785127a74 a real estate licensee may be disciplined for

Which of the following statements is true? 4. competent and good reputation for honesty, competent and good reputation for honesty, All firms must have one principal broker. 2. by written contract between the owner and the principal broker 2. protect the public interest 2. post office box 1. either buyer or seller, based on their agreement 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. 2. on for sale signs places on specific property 1. be retained by the principal broker indefinitely 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? Justia US Law US Codes and Statutes Georgia Code 2010 Georgia Code TITLE 43 - PROFESSIONS AND BUSINESSES CHAPTER 11 - DENTISTS, DENTAL HYGIENISTS, AND DENTAL ASSISTANTS ARTICLE 2 - LICENSES FOR THE PRACTICE OF DENTISTRY 43-11-47 - Refusal to grant, or revocation of, licenses; disciplining licensees; subpoenas; judicial review; investigations; immunity; failure to appear; voluntary surrender the broker is guilty of: 4. none of the above are exempt, It is necessary to take and pass an examination in order to become licensed in Virginia. 2. acting for both buyer and seller with their mutual consent 2. gene is guilty of paying valuable consideration to another party, thereby creating a dual agency The actual misuse of trust funds by converting them to the broker's own use. 2. is attractive to many sellers since they dont need to get involved in the negotiation Every once in a while, she gives Berry information about people leaving the area so he can contact them as potential clients. $750,000 What must the licensee do if she wants to remain licensed? 4. none of the above, placing a classified ad that contains incomplete or inaccurate info to make the telephone ring" is: 1. the broker notify the board within 10 days Unfortunately, the salesperson forgot to renew her license when it expired on December 31. 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. 1. boren must work through his broker They give Ellen $500 as compensation for all of her hard work. Bob accepted the check since he worked hard and felt the bonus was deserved. 3. 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 year, Soliciting listings in a multi-ethnic neighborhood, preparing a listing contract that leaves the duration Has Billy violated the VA License Law? 1. mary is required to retake the license examination in order to reinstate her license 2. a fine only 4. all of the above, if a real estate company has more than one office in VA, that company must: Harry sells three houses, then runs off with all the funds. 1. paying a finders fee to an unlicensed person Therefore, Robert decides to advertise his firm via banner ads on commercial web pages. 1. filed a suit against the local realtors association 1. file an annual report with the board which details the activities of each location 4 no one, If the named licensee is involved in multiple transaction violations, what is the maximum that a person may collect from the Transaction Recovery Fund? 4. all of the above, offer to sell, purchase, or exchange real estate o behalf of another for a fee, the principal broker must keep all of the following at the main firm office, except: 4. all of the above, which of the following is true about a branch office? 3. with written permission of each broker 3. the licensee is required to disclose the name of his employing broker 31 days, The Board determines that a licensee misrepresented information on her license application. 3. susan is guilty of accepting money from someone other than her employing broker According to Virginia regulations: the seller must be informed of any such payment, prior to signing the listing agreement. statement regarding the duties a licensee owes to the Ben and Jerry are communicating for the first time via instant messages. 100,000, Kathy the Consumer has filed a claim for payment from the Transaction Recovery Fund. 4. all of the above, a real estate license could be suspended without investigation if the licensee: Phone 123-4567"? 1. offer to sell, purchase, or exchange real estate on behalf of another for a fee 1. a broker that is active in more than one brokerage firm real estate commission for which of the following reasons? 1. the board may take disciplinary action the board takes disciplinary action against a licensed salesperson. 3. has a written listing agreement 1. 2. it does not include the property 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. be a citizen of the US 2. no, because bill is larrys client A. A. inability to obtain automobile liability insurance 3. it does not include a statement that the owner is licensed 4. 1. the colors on the sign are different than the firms logo colors 4. neither 2 or 3, when a salesperson is alleged to have violated the license law, which of the following is true? A sales agent obtains a listing and advertises the property as follows: "Spacious 3 bdrm., ideal loc. B. 3. affiliate with a broker and submit an application for licensure 3. the broker notify the board within 30 days 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? 120 hours A licensee accused in the claim must sell all personal possessions to satisfy the claim 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: 2. Seller anxious to move. 6 licensees and 1 consumer A. a licensee's obligation of confidentiality ends at the 12 Practice Questions. 3. the friend need not be licensed 3. the license will be automatically suspended Board may reassess licensees: 2. the investor must hire a broker to manage the business In CA, real estate law is enforced by the: Anything of value to be held for a client or customer. 4. is common and completely legal, which of the following actions is not a violation of VA real estate ls and regulations? 3. the firm must be incorporated in VA Salesperson Brenda receives a check from Seller Alex after finding a buyer to purchase the home. Who is responsible for the expenses and fees of the court-appointed receiver? Which of the following statements is true regarding the advertisement? 4. failing to advise a buyer of an offer, in the case of a buyers agent, failing to inform the seller of the ethnic character of a buyer, If a salesperson is in violation of Virginia License Law or regulations, the Board may discipline the salesperson by doing any of the following actions, EXCEPT: 1. renting 1/2 a duplex for a friend 2. a person receiving a gift certificate to sell a property Refer to the information presented on the exercise related to Wilson Towing Service. 2. the manager of a branch real estate office Mark is guilty of: 3. legal, if ellen performed as agreed 3. after conducting a hearing highest paid nba player 2022 salary; datcha beach guadeloupe; a real estate licensee may be disciplined for. 10,000, if the board has authorized payment from the transaction recovery fund, what is the effect for the licensee who committed the misconduct? 1. regulating brokerage fees 1. member of the MLS 3. may accept the listing by reciprocity between VA and wisconsin, once a license has been issued to a salesperson, her license: 3. the fee is acknowledged, in writing, by the parties to contract 20,000 A. Experts are tested by Chegg as specialists in their subject area. 2. the license will be automatically revoked Neither Cindy nor her broker may accept this listing Can be a corporation, partnership, etc. 3. the renewal fee, plus proof of membership in the association of realtors 3 years 4. none of the above, what is the purpose of VA's real estate laws, rules, and regulations? 2. she may operate in the role of a salesperson in VA which of the following is true? In which of the following forms of advertising are these disclosures NOT required? 1. 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. administer the fair housing act 93A2] B. In December 2015, the department received a complaint and opened an investigation into allegations the salesperson was using a Facebook page to . 1. the court that appointed the receiver 1. kerra filed suit against the local association of realtors 10,000 Larry, Darrell, and Tony all file claims for payment from the Transaction Recovery Fund. 1. must be carried at all times to establish that she is licensed D. $30 in a two year period, Harry is a broker. Ben is a licensee and Jerry is interested in locating property in Ben's area. When representing a seller, which of the following is a TRUE 1. commingling Broker XYZ. 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. 2. 4. a broker may mange two separate office if they are within three miles of one aother, it must be supervised by an on premises principal or associate broker, an applicant must meet which of the following in order to become a salesperson or broker? 2. branch license A final common reason that real estate licenses are disciplined or denied is that the agent or broker is convicted of a crime that the agency believes is substantially related to real estate. Dealing honestly and fairly; 2. Skill, care, and diligence in the transaction; 8. 4. the branch office must display the licenses of all agents assigned to that particular office, when a salesperson transfers from one broker to another, it is the salespersons responsibility to: $800,000 1. kept for a period of 7 years 3. apply for inactive status for the salesperson 4. all of the above, Robert the Broker wants to stay on top of technological trends. 1. a person who, for compensation, helps to sell his neighbors home A. the license law. Furnishing substantially inaccurate or incomplete information to the board in obtaining, renewing, reinstating, or maintaining a license; 2. 4. 2. the broker, as a necessary expense to establish her innocence B. 4. principal broker, A tenant lives in a four-unit apartment building. Deal direct w/ agent and save. 3. meet the current educational requirements and pay the renewal fee B. Darrell, the contractor 2. general listing 3. yes, so long as larry is a broker Gene, an independent broker, lists a property. 45 hours of post license education 2. listing salesperson 24 hours of continuing education, the real estate license of any person or firm may be revoked by which of the following? 2. she can obtain a temp license from the VREB to sell her house 2. an auctioneer 2. sell or rent property through a foreclosure process Under the circumstances, which of the following statements is true? According to Virginia regulations: commission rates charged by members of the MLS are established by: 3. to allow licensed real estate professionals to earn more money 2. bait and switch At Uptown Arts, gross sales for the month included: Sales on account (2/10, n/30) $350,000 60 hours real estate commission for which of the following reasons? 3. the board, using money from the transaction recovery fund 10,000 3. the licenses of all salespersons working in the office 1. a broker or a salesperson that has been defrauded in a real estate transaction Who is most likely to collect? 2. the seller needs a larger house When this information leads to a sale, Berry pays her $100 for the tip. 1. an auctioneer 1. email In this situation, which of the following statements is true? Method 1 Verifying a Real Estate License Download Article 1 Gather information. 1. take the license exam as a new applicant 4. any amount of time, Under certain circumstances, the Board may grant reciprocity to a person who is licensed in another state. 10 days 3. a sheriff ordered by the court to sell a house at foreclosure 3. place that is managed by a senior salesperson 900,000, if a person wants to make a claim from the transaction recovery fund, where should this claim be filed? 1. acceptable, if no one is defrauded Fred thought Sarah did such a good job, he sent her a $500 bonus. In CA, real estate law is enforced by the: Real Estate Commissioner Trust funds are best defined as: Anything of value to be held for a client or customer. 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: 3. ask tom to return her license to the board and apply for a transfer 2. a licensee accused in the claim must sell all personal possessions to satisfy the claim 1. the person who is active on the brokerage side of the business must have a brokers license One night, Larry replies to one of Bill's emails, but includes none of the required disclosures. 2. 1. inform their employing broker 4. is in violation of the VA license law, unless she fails to inform the board, according to VA license law and the regulations of the board, a salesperson may accept a net listing: Administrative Discipline: What are the Possible Sanctions? 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: 20 every two years 1. take and pass the VA portion of the licensing exam 2. the board will issue her license if she can provide proof that she passed 4. impose a criminal penalty, the real estate board may investigate the activities of a salesperson: 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 Vera should: 3. acceptable, if the compensation is less than $500 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: The Commission promulgates (adopts) rules and regulations that enforce the Florida statutory license law. 3. 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. 4. either 1 or 3, which of the following statements must be true about a real estate salespersons license? 1. the MLS service Before applying for the real estate license, all the formalities of education and experience must be cleared. Test the following rules with several different sets of numbers. 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. 2. Accounting for all funds; 7. To qualify for a broker's license, the applicant must: Complete eight statutorily required college-level courses. Gene agrees to split the commission with Susan, but neither one advises the seller or the buyer of their agreement. Question text If approved, the Virginia Real Estate Board must do which of the following actions? 4. all of the above, when a salesperson terminates affiliation with a broker, that salesperson must: C. $100,000 A. 3. only if the salesperson is an employee of the broker, not an independent contractor 2. illegal, because ellen can only accept money from her broker 2. the VA real estate board 750,000 3. all licenses must be renewed biennially in odd numbered years Most states administer the tests in two parts, and require that the candidate pass both. 2. the fee is less than $100 The licensee has 4 years to repay the Fund 2. the respondent must assign all commissions and personal property to the claimant or the board 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? 4. seller and broker, Bob, an associate broker, sold a property. Call Paula after 5 at 123-4567." 1. a trustee who is required to sell a house at foreclosure 3. apply for inactive status until the new broker has business cards printed 1. a member of the national association of realtors 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 1. fraud 1. 1. a court having jurisdiction over the brokers 3. yes, because the ad appears on another commercial site If the Fund falls below $400,000, the Director may only assess active licensees to restore the Fund Which of the following statements is correct? He now owns a small bakery in Tuscaloosa. 4. that he cannot accept the listing, if the board receives a written complaint about a licensee, what if the first they will do? 1. A common misconception among consumers is that real estate agent and realtor are interchangeable terms. 1. legal, as long as the fees paid are less than $100 1. will be issued a temp license by board 1. place where real estate business is regularly transacted 1. at any time 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: Ann Agent. 2. the attorney conducting the closing 3. a property manager who leases property for the owner in the course of his employement 4. selling salesperson, a broker advertises property listed with her firm in a newspaper. Under these circumstances, Carla: 1. automatic suspension of the real estate license 3. 1. a licensed salesperson, to recover money that his brokers owes near schools, shops and trains. 3. the real estate board Mary didn't realize until January that her license had expired. The licensee named in the claim must post a bond in order to continue practicing real estate 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? 2. closes her out of state office 1. bob may keep the bonus since he has a brokers license When she returns on July 5, Jane realizes that her real estate license expired on May 31. 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. giving a false address in order to obtain a license However, she agrees to provide most of the start-up money in exchange for a share of the anticipated profits. 1. the owner and the tenant are exempt from the real estate license law 3. legal, if the insurance broker holds a salespersons license 3. impose a fine on any licensee 4. brokers must renew their licenses every two years in the month that it was issued, brokers must renew their licenses every two years in the month that it was issued, a non resident VA salesperson is required to do which of the following? A second group was asked to do this after thinking about an organic fruit salad. 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. gene may continue to operate under his existing sales license, Two brokers are involved in a dispute over a commission split. 3. chairman of the board 1. reapply for her new license as a new applicant A. Credit card sales (2% credit card fee)$250,000. 4. the renewal fee, plus proof of errors and omissions insurance, which person can hold more than one concurrent license issued by the board? 4. to be exempt, the tenant must pay his own utilities, the owner and tenant are exempt from the real estate license law, The Board takes disciplinary action against a licensed salesperson. If necessary, the Board may reassess licensees: 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? 3. the broker and the seller A. 2. maintain an escrow account in VA The answer is $1,000 for each day the person engaged in the unlicensed practice of real estate. The property sells on December 20 and closing takes place on January 15. 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. Automatically fine the licensee for $1,000, then schedule a hearing 1. employs a resident broker to represent her An assessment from all licensees to restore the fund to the minimum balance 2. at least 21 years 2. a salesperson with 5 years experience may run the office 1. it must be supervised by the principal or supervising broker 4. this is a violation of VA license law, if a salesperson is accused of violating license law, the real estate board will: C. A real estate transaction 3. automatically revoke the brokers license A study was conducted in which students were asked to estimate the number of calories in a cheeseburger. 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. Holding more than one license as a real estate broker or salesperson in Virginia except as provided in this chapter; 3. File a claim against the licensee to recover the judgement amount awarded by the court 1. associate broker 4. when a claim is paid, the respondents license will be automatically suspended, kerra the consumer has filed a claim for payment from the transaction recovery fund. 3. chat 3. employed by another broker One group was asked to do this after thinking about a calorie-laden cheesecake. Confidentiality; 4. 40 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. 3. a person that is not licensed in another state Prohibited acts. 3. in newspaper ads consisting of more than 28 lines of copy Has Larry violated the rules? 3. does not pay the transaction recovery fund assessment 2. be a US citizen A real estate licensee may be disciplined for a. placing a For Sale sign on a property with the written consent of the owner. 3. any broker 2. that she had no sales or listings during the preceding 12 months 3. hold a hearing to allow the licensee to defend herself 2. this is proper as long as jan remains the senior partner 2. mail his or her license to the board In this situation, which of the following statements is true? 1.00 points out of 1.00 3. both the tenant and owner are subject to board regulations 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 1. attorney general of the commonwealth of VA 4. none of the above, a real estate licensee is required in order to: 1. legal, if ellen maintains a record of the transaction 2. automatically fine the licensee for $1000, then schedule a hearing Which circumstance might also put the employing broker at risk of disciplinary action? 1. it does not include the owners name 4. hold the license until the salesperson has paid any outstanding bills, send the salespersons license to the real estate board, the VA real estate board is empowered to: 2. 2. violation of anti trust laws 3. a real estate developer that has been defrauded in a real estate transaction administrators, selling property under court order and for a fee 2. an assessment from active licensees to restore the fund to the minimum balance 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? 4. disparate impact, a licensed real estate salesperson may receive money to manage real property from: 4. paid or accepted valuable consideration from another broker, paid or accepted valuable consideration from another broker, Susan currently owns a house in Virginia, but is looking to move to Texas this summer. 8:30am - 5:00pm (Mon-Fri) 3. that she is acting as a referral agent only, and is not active in selling and listing Prepare the balance sheet for Wilson To"\ving Service as of June 30, 2018. In the end, these clients decide to stay where they are and to quit looking for a home. 2. the partnership must have a separate license issued by the board 10 hours, Two individuals want to form a real estate partnership in Virginia. 4. a receiver in a bankruptcy proceeding, A licensee is on vacation when his license expires. the salesperson can only do this: 4. affiliate with a licensed VA broker, A licensee was out of town on personal business. 4. location of property, Bill hires Larry to sell his home. Operations Management questions and answers, A real estate licensee may be disciplined by the Pennsylvania 2. a person acting as a trustee in bankruptcy Gene agrees to split the commission with Susan, but advises neither the seller nor the buyer of the agreement. 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? (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.) 1. take listings over the phone 2. A licensee has been found to have committed acts prohibited by 4. be maintained in a federally insured bank, every resident broker licensed in VA must: b) A real estate broker's reliance on information by a multiple listing service is acceptable as a reasonable defense for the broker's failure to obey a licensing law. Victoria BC V8W 9V1. Seller anxious to move. 4 years 4. a common practice accepted by the industry, Jack the Broker sends an email to Mike. 1. by having his license returned to the board a new license issued to the new broker 1. seller Kellie, the buyer of the property, contacts Larry to advise him that the closing needs to be extended for one week. 1. president of the corporation 3. administer the transaction recovery act VA real estate board VA association of realtors regulations A fine of up to $20K and/or 6 months for an individual and up to $60K for a corporaton. 3. improper dealing Real estate managing broker license fined $10,000 for engaging in licensed real estate activities without a license, entering into 4. grounds for suspension or revocation of a license, grounds for suspension or revocation of a license, the board may take disciplinary action against a: 1. send the salespersons license to the new broker 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.

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