2. 3. net listing 3 years Therefore, Robert decides to advertise his firm via banner ads on commercial web pages. 4. the local association of realtors, Rainy Yeng has been transferred out of the area on an extended work assignment. A. Under these circumstances, Carla: 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 . 3. hold a hearing to allow the licensee to defend herself 2. legal, if disclosed im writing to all parties 2. no property location specified The reason for the claim is to reimburse a loss sustained after a salesperson made a gross misrepresentation. 2. any property owner 3. 3. the respondent must file bankruptcy and sell all property 2. maintain an escrow account at an insured depository in the state When representing a seller, which of the following is a TRUE 2. the manager of a branch real estate office RULE 20 CSR 2250-10.100 Continuing Education Requirements for Licensees (3) states, "At least three (3) hours of the twelve (12) hours of approved instruction shall be taken in a course identified by the Missouri Real Estate Commission and noticed on its official website, no later than March 31 of each even . 2. Has Robert violated the rules? 2. the salesperson can only be paid if her license is renewed prior to january 31 1. a broker and a salesperson, involving employment conditions During this period, Adam: 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: 2. sell or rent property through a foreclosure process Most states administer the tests in two parts, and require that the candidate pass both. 1. 3. meet the current educational requirements and pay the renewal fee $750,000 3. associate brokers Broker Fowler should tell Owner Chaney: 3. this is fine because the compensation is less than $1000 3. a property manager who leases property for the owner in the course of his employement judgement, The Provisions of the Real Estate Licensing and Registration Act 1. 3. apply for inactive status for the salesperson 3. take and pass a test within 12 months of application 3. renew his license every 2 years by paying the renewal fee 3. if the owner is a non resident of VA 2. be at least 18 years old 750,000 C. An evaluation of the Fund's investments in order to generate additional earnings principal? 2. the board will issue her license if she can provide proof that she passed 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: 3. the code of ethics for real estate professionals 10,000 near schools, shops, and trains. 3. failing to inform the seller of the ethnic character of a buyer 3. listing broker what must marty do before he can start selling real estate? 4. none of the above, placing a classified ad that contains incomplete or inaccurate info to make the telephone ring" is: 1. was aware of the improper dealings performed by his salespersons 1. 3. a real estate transaction 2. an appraiser B) Sylvia, a registered voter, whose uncle Doug is the most successful real estate broker in Evergreen. 4. plans to hold an open house, an award from the transaction recovery fund will result in: 4. none of the above, A consumer may file a Transaction Recovery Fund claim for a loss sustained as the result of a licensee's fraudulent act. 2. impose a monetary penalty of up to $1,000 Which of the following entities could become involved in settling the matter? 2. a salesperson who holds a business entity license the salesperson can only do this: transactions on behalf of a client, c. a real estate licensee selling real estate she owns, d. a licensed auctioneer who is auctioning property. Pennsylvania real estate license law? 2. independent contractors, negotiating leases on behalf of another for a fee 45 hours 1. the principal broker 1. file a claim against to the licensee to recover the amount paid from the fund He still needed to take one more continuing education course before his license expiration date. Cindy may accept this listing if her license is current, neither cindy nor her broker may accept this listing, a real estate salesperson will receive her share of the brokerage fee from which person? The licensee has 4 years to repay the Fund 10 hours, Two individuals want to form a real estate partnership in Virginia. 1. the claimant must have gone after any assets and property belonging to the debtor Was this action permissible? 2. return his or her license to the board Vera should: 1. acceptable, if no one is defrauded 1. a written complaint 1. a person acting without compensation under power of attorney The commission rate to be given by a seller as set forth in the listing agreement is: Negotiated between the broker and seller. 1. yes, because the required disclosures must appear in the ad itself 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. B. Violates the Virginia Real Property Act Bob accepted the check since he worked hard and felt the bonus was deserved. If possible, try to find a counterexample (a set of numbers for which the rule is not true). 2. the board may order criminal penalties 2. continue to use cards and stationary which state that he is a licensee 3. revoke the salespersons license pending a hearing 3. is not in violation of the VA license law, so long as she informs the buyer 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. 3. supervising broker D. None of the above, If the Board has authorized payment from the Transaction Recovery Fund, what is the effect for the licensee who committed the misconduct? The agent orders the home inspection from a friend, who then pays him a referral fee. 2. the VA real estate board Credit card sales (2% credit card fee)$250,000. 4. all of the above, Salesperson Lynch receives a referral check from an out-of-town broker, Kirks, for sending him a prospective buyer. 2. uniform commercial code 3. imposing a fine of $5000 for each violation 2. revoking the persons license C. Provide retirement income for brokers 1. be clearly separate from the living area 1. legal, if ellen maintains a record of the transaction 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? 3. the fee is acknowledged, in writing, by the parties to contract 4. both 1 & 2, if the board receives a written complaint about a licensees actions, what does the board always do? $471.8360%. 1. take the continuing education course 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. 3. his license will expire 4. all of the above, claims for payment from the transaction recovery fund are filed with the: Susan, also an independent broker, sells the property. 3. an appraiser 3. may take new listings and find buyers for any listings on the books In the situation described, which of the following statement is true? Furnishing substantially inaccurate or incomplete information to the board in obtaining, renewing, reinstating, or maintaining a license; 2. unspecified. Evans told her that he would not return her license until the money had been repaid. 1. employs a resident broker to represent her 4. enforce the code of ethics, licensees with an inactive license must: 3. The answer is $1,000 for each day the person engaged in the unlicensed practice of real estate. Harry sells three houses, then runs off with all the funds. 3. a tenant, seeking to recover a security deposit from his landlord File a claim against the licensee to recover the judgement amount awarded by the court 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: 3 years 1. 2003-2023 Chegg Inc. All rights reserved. 2. their licenses will also be suspended Upon request, the court appoints a receiver to manage the account. 3. a court of law having jurisdiction over the brokers What will happen to Craig's license if he doesn't complete the required courses before renewal? 4. when the salesperson refuses to perform real estte duties, when the salesperson refuses to perform real estate duties, if a licensee has placed her license on inactive status, it means: state, there are no circumstances under which this is allowed, disclosure of controlled business arrangements, License revocation and in order to return the competition 4. This action would violate the Real Estate Board regulations unless: 3. person selling industrial real estate full time 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: She goes to the address and finds that the listed property is actually a motor home. 15 days 4. 1. the office must be licensed 3.. employ at least one salesperson or associate broker that is also a resident of VA This arrangement is: Grounds for disciplinary action by the commissioner. 3. chat For failure to pay an assessment to the TRF within 10 days The Board now has the right to: A. The insurance broker pays $50 to the real estate broker for every referral that buys insurance. Undisclosed dual agency is illegal. On the day of the showing, he places several directional signs throughout the neighborhood. 4. serve an apprenticeship term in real estate, take and pass a test within 12 months of application, an associate broker must be: If necessary, the Board may reassess licensees: 3. retake their prelicense education and pass a licensing exam 1. mary is required to retake the license examination in order to reinstate her license 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: 2. the license will be automatically revoked 4. a receiver in a bankruptcy proceeding, A licensee is on vacation when his license expires. 1. she is entitled to a hearing before the board can take disciplinary actions, unless the law provides otherwise 4. seller and broker, Bob, an associate broker, sold a property. 4. non resident, licensed in another state as a broker, if a licensee changes their surname, it is the responsibility of the licensee to: 4. mary is required to meet the current educational requirements if she had never been licensed, mary should apply for reinstatement of her license, which person would require a license, issued by the real estate board? 4. none of the above, a broker may place a sign on a property when he: 10,000, if the board has authorized payment from the transaction recovery fund, what is the effect for the licensee who committed the misconduct? 3. adjudicate disputes between licenses The [Florida real estate] commission . 3. must have been active as a salesperson for 3 years 4. no, using these deposits for repairs would eliminate the need to charge damage repairs when tenants move out, no, security deposits are held for tenants in an escrow account and are not part of the operating funds, a broker is a member of the local MLS service. 2. post office box Box 1339 Jefferson City, MO 65102-1339 573.751.2628 Telephone 573.751.2777 Fax . 2. placed on private property without permission of the owner 2. apply for a temp license until he affiliates with a broker 3. violated the fair housing act The respondent must assign all commissions and personal property to the claimant or the Board 1. the colors on the sign are different than the firms logo colors 3. all claims submitted in relation to a licensees misconduct in a single transaction may not exceed 20,000 1. larry the developer 15,000 1. a broker or a salesperson that has been defrauded in a real estate transaction 3. attend at least 3 seminars conducted by the board 3. maintain an escrow account in VA In the context of this study, what is the meaning of the Type I error? 1. be a citizen of the US 1. email 3. place that is managed by a senior salesperson 2. 4. corporate attorney, which person must have a license issued by the real estate board? When people make estimates, they are influenced by anchors to their estimates. 1. the licensee named in the claim must post a bond in order to continue practicing real estate 1. renting 1/2 a duplex for a friend 4. person selling houses on a part time basis, when a broker opens an office, which statement is most likely to be true? 3. if there is a violation of the boards regulations PO Box 9425 Stn Prov Govt. 4. the friend need not be licensed, only if he or she does not get paid, the friend need not be licensed, only if he or she does not get paid, which person is most likely required to have an active real estate license? Prohibited acts. 2. submit a credit report C. A claimant may collect up to $20,000 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. person has to apply to the Real Estate Recovery Fund after final In December 2015, the department received a complaint and opened an investigation into allegations the salesperson was using a Facebook page to . 3. may only employ licensees to sell each tract 2. kerra has obtained a judgement in court 2. branch license 1. to make licensed real estate agents more professional 2. it may be supervised by a salesperson with 3 years experience 2. designate one location as the main office 2. be furnished to the board upon request 31 days, The Board determines that a licensee misrepresented information on her license application. If you wish to consult the most up-to-date licensing information, y ou may utilize the boards check a license feature which will immediately reflect any changes in licensing status. 2. 4. the salesperson can be aid if she retakes the state licensing exam, the salesperson is entitled to receive her commission, Incorrect 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. Ben suggests that he may be able to help. 1. the broker has violated board regulations, which preclude paying valuable consideration to an unlicensed person 1. it is mailed to the licensee for delivery to the employing broker 2. an auctioneer 4. accepting a referral fee from an out of state broker, through his employing broker, paying a finders fee to an unlicensed person, a broker placed one of her signs on property without permission from the owner. 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. The owner specifies how much she wants to receive from the sales proceeds, then allows the broker to propose a selling price. 1. a court having jurisdiction over the brokers 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. 5 years, licensees must respond to board inquiries within: 3. less than 20 hours per week Mark is in Europe for two weeks and cannot be reached. in addition to obtaining a virginia real estate license, what else must a non resident do in order to sell real estate in virginia? 2. is attractive to many sellers since they dont need to get involved in the negotiation 1. regulating brokerage fees 4. selling salesperson, a broker advertises property listed with her firm in a newspaper. In which of the following forms of advertising are these disclosures NOT required? 1. a resident of VA 4. illegal, unless properly disclosed, illegal, because ellen can only accept money from her broker, the real estate board has power to take all of the following actions, except: 1. the old broker and the new broker hold joint responsibility 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? 3. is illegal since it would allow the broker to take advantage of an uninformed seller 3. an attorney who is offering real property for sale under court order 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. a salesperson licensed in another state 4. part of a franchise firm, the VREB regulations require that complete records of real estate transactions: B. 2. the broker must limit this incentive program to 30 days 4. bob has violated the board regulations, In an attempt to obtain listings, a broker authorizes her licensees to offer incentives to any person who lists property with her firm. Not flaggedFlag question C. He may apply for a new license within 30 days Let f(x)=2x3(x2)3f(x)=\frac{2x}{3(x-2)^3}f(x)=3(x2)32x. 4. only be accessible to the public, which person would need a license to sell property on behalf on another? 2. 3. the licensee must forfeit all commissions earned 1. the MLS service Which of the following statements is correct? 3. revocation of his license and a fine 2. ben must disclose his firm name, city, and state 43-40-1(2)(B)). 3. a person acting under a power of attorney without compensation 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. upon revocation of the brokers license 4. none of the above, a real estate licensee is required in order to: If Sarah keeps the $500, she: May Cindy accept this rental listing? 2. 2. gives a reduced commission rate to a family member C. Automatically revoke the broker's license It will attempt to resolve the problem without the necessity of legal expense. 1. if the broker knew or should have known of the agents actions Mary didn't realize until January that her license had expired. 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: D. any felony conviction licensee? 3. both the tenant and owner are subject to board regulations 1. kept for a period of 7 years Board may reassess licensees: Jack's email: C. The respondent must file bankruptcy and sell all property B. Larry has: Exceeded the scope of his authority and violated real estate law. 4. must find a licensed broker to run the business, can only conclude the transactions in the process to facilitate the termination process, In April, Mary took a continuing education course to satisfy her October renewal requirements. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. In this situation, which of the following statements is true? 1. engages in acts of brokerage wile on inactive status 30 hours before he can actually receive his license, VA license law defines a brokers place of business as a: 3. employed by another broker 3. a trustee, appointed by a court Gene, an independent broker, lists a property. 2. suspend or revoke any license issued by the board An assessment from active licensees to restore the fund to the minimum balance 3. chairman of the board The ad reads, "beautiful rambler, excellent assumption. 4. there is no max assessment, New licensee applicants are required to pay into the Transaction Recovery Fund. 4. principal broker, A tenant lives in a four-unit apartment building. 2. mail a license to the broker named on the license application 1. suspension of his license and a fine 2. principal broker In this situation, which of the following statements is true? 3. mary may continue to engage in acts of brokerage if she can establish that the postal service lost the renewal notice 2. the investor must hire a broker to manage the business 1. complete an 18 credit hour course in the principles of real estate 2. can only conclude the transactions in the process to facilitate the termination of the business dream11 kabaddi team today; political journalist jobs near hamburg; 3. file a complaint with the real estate board 3. a broker and the local association of realtors if the broker knew or should have known of agents actions. 2. no, because bill is larrys client This arrangement between the two is: 4. all of the above, What is wrong with this advertisement: "3 bdrm, 2 ba, $75,000. On November 9th, 2022, the Department of Real Estate issued an Order revoking real estate salesperson's license number SA692185000 issued to Nelida Oveida Rios. 1. a fictitious name 2. endorse the check over to bob 2. send the salespersons license to the real estate board C. $100,000 3. the board will issue her active license to her principal broker 1. salaried rental property personnel, accepting lease applications on behalf of another 3. upon the request from the salesperson to transfer to another broker 1. legal, as long as the fees paid are less than $100 4. a friend, relative, or builder, The Board believes that a broker is not properly managing her escrow account. 2. 3. must keep all financial records for 5 years D. $900,000, The minimum balance of the Virginia Real Estate Transaction Recovery Fund is: The Iowa real estate commission has authority to impose, after proper procedures have been initiated and followed, the following disciplinary penalties: . He now owns a small bakery in Tuscaloosa. Question text B. 1. an executor of a will Our online system provides more efficient services to those applying for a Real Estate Broker and Salesperson license. All real estate licensees are subject to discipline by the REEB as well as litigation. 4. that she can engage in acts of brokerage on a selective basis, that she is not affiliated with a brokerage firm or sole proprietor, every VA resident who is also licensed as a broker must: 4. the salesperson broker is automatically charged with the same violation, an investigation will be conducted unless the law specifically provides otherwise, hearings before the VA real estate board must be held in accordance with the: Allison is guilty of: 1. the price is not mentioned 2. the developer cannot publish the ad as planned 2. a licensee accused in the claim must sell all personal possessions to satisfy the claim 4. both 1 & 3, affiliate with a broker and submit an application for licensure, the real estate board consists of: One night, Larry replies to one of Bill's emails, but includes none of the required disclosures. 2. an investment in a limited real estate partnership She started looking for new firms after the accusations were made, but can't transfer until her license is returned to the Board. 1. your brokerage firm will accept a lower commission rate 20,000 Neither Cindy nor her broker may accept this listing Rainy tells Cindy that she wants $500 per month for the rental and Cindy may have any amount over $500. 2. the list of licensees assigned to that office A. a licensee's obligation of confidentiality ends at the Seller anxious to move. 30 hours within the first year Visit their website for more details and the most current disciplinary action. Such action is: 1. the branch office license Regulatory Affairs: 919-719-9180. Which of the following statements is true regarding the advertisement? Ellen deposits the money into her personal checking account. 2. mail his or her license to the board She asks Salesperson Boren to manage her rental home for $45 per month while she is gone. 2. maintain an escrow account in VA the expanding universe activity 2 answer key / mahjong tiles engraving / mahjong tiles engraving Fred thought Sarah did such a good job, he sent her a $500 bonus. 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? The email describes the real estate services Jack provides and encourages Mike to call for more details. 4. with written permission of the association of realtors, with written permission of the VA real estate board, the real estate board is responsible for: A common misconception among consumers is that real estate agent and realtor are interchangeable terms. 3. the real estate board when his license is renewed 2. made available for inspection by the representatives of the real estate board D. Under no circumstances, For failure to pay an assessment to the TRF, New licensee applicants are required to pay into the Transaction Recovery Fund. 1. make brokers and salespersons more professional Ben and Jerry are communicating for the first time via instant messages. 1. move to VA within six months of licensure 2. an attorney at law 4. an individual employed by the owner of rental property, an employee of a broker, who negotiates leases, Broker Takahashi wants to open her own partnership. 3. after conducting a hearing 3. advise the board when their license is renewed 2. the claimant assigns his rights to the board, to the extent of the amount of money paid by the fund 4. both 1 & 3, A motel clerk provides a few leads to a broker in exchange for a percentage of the commission. A study was conducted in which students were asked to estimate the number of calories in a cheeseburger. Standard of Practice 1-2. 2. the salesperson and the new broker 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:

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