93A2] 4. both 1 & 3, A motel clerk provides a few leads to a broker in exchange for a percentage of the commission. 2. endorse the check over to bob 2. apply for a temp license until he affiliates with a broker 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. under what circumstances would the agents employing broker be subject to disciplinary action by the board? 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? Accounting for all funds; 7. 3. must have been active as a salesperson for 3 years 4. there is no max assessment, New licensee applicants are required to pay into the Transaction Recovery Fund. 3. meet the current educational requirements and pay the renewal fee 1. an assessment from all licensees to restore the fund to a minimum balance In December 2015, the department received a complaint and opened an investigation into allegations the salesperson was using a Facebook page to . 3. enable licensed real estate professionals to earn more money 4. advertises a listing at lower than listed price, advertises a listing at lower than listed price, the purpose of VA license law and the rules and regulations is to: Select an item from the list Consumer Real Estate Licensee Developer/Subdivider Examinee or Current/Potential License Applicant Member of the Media/Press 3. the developer may publish the ad as planned, but it cannot run for more than 4 weeks 3. a property manager who leases property for the owner in the course of his employement 1. apply to, a. a trustee who participates in real estate transactions under $471.8360%\$471.83 \div 60\% Therefore, Robert decides to advertise his firm via banner ads on commercial web pages. 4. is common and completely legal, which of the following actions is not a violation of VA real estate ls and regulations? 2. acting for both buyer and seller with their mutual consent 2. an attorney at law 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. The owner specifies how much she wants to receive from the sales proceeds, then allows the broker to propose a selling price. Not flaggedFlag question 1. 1. she is entitled to a hearing before the board can take disciplinary actions, unless the law provides otherwise 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: B. A Real Estate Commissioner candidate must have a min of five years real estate experience within the last WHAT year to be appointed by the Governor. 2. the real estate board within 30 days A. 3. hold degree in real estate 3. A licensee has been found to have committed acts prohibited by 3. people from hungary are moving into the neighborhood 2. legal, if disclosed im writing to all parties Prepare the balance sheet for Wilson To"\ving Service as of June 30, 2018. 1. the colors on the sign are different than the firms logo colors 2. giving a false address in order to obtain a license 100,000, Kathy the Consumer has filed a claim for payment from the Transaction Recovery Fund. Through reciprocity, what is true of a broker licensed in another state? 3. the licensee is required to disclose the name of his employing broker 4. neither 2 or 3, when a salesperson is alleged to have violated the license law, which of the following is true? B) Sylvia, a registered voter, whose uncle Doug is the most successful real estate broker in Evergreen. 3. yes, because the ad appears on another commercial site 2. closes her out of state office Go to the website www.studentaid.ed.gov and list at least five basic eligibility requirements to receive student aid. A. Engages in acts of brokerage while on inactive status 3. failing to inform the seller of the ethnic character of a buyer 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. When people make estimates, they are influenced by anchors to their estimates. 4. ben must disclose his username, ben must disclose his firm name, city, and state, A developer has prepared an advertisement, offering several lots for sale. 1. associate broker 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. She plans to rent her condominium in that time period, and asks Salesperson Cindy to handle the rental. 1. complete the mandatory postlicense education requirement year, Soliciting listings in a multi-ethnic neighborhood, preparing a listing contract that leaves the duration statement, when the referral fees paid to an unlicensed employee 2. a person who will only work as a referral agent 3. there is no property address 4. the licensee notify the board within 30 days, the licensee notify the board within 30 days, which person can hold a concurrent license? 3. apply for inactive status for the salesperson 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? 4. all of the above, a license may be suspended without benefit of a hearing: File a claim against to the licensee to recover the amount paid from the Fund 3. advise the board when their license is renewed 2. post office box 2. the renewal fee, plus $20 payment for the transaction recovery fund 3. selling a business for a relative which is true? 3. a person who is currently licensed in another jurisdiction 3. the license will be automatically suspended 4. deposit the check and say nothing, endorse the check and give it to his employing broker, Salesperson Brenda is affiliated with Broker Bob, who has a listing with Seller Alex. 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 Call Paula after 5 at 123-4567." 1. take the license exam as a new applicant 1. she may act as a broker in VA by virtue of her valid out of state license 2. the fee is less than $100 3. less than 20 hours per week Mark is guilty of: 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. 4. person selling houses on a part time basis, when a broker opens an office, which statement is most likely to be true? 1. give back all listings acquired while affiliated with the broker If Sarah keeps the $500, she: 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: 2. revoking the persons license 2. branch license 4. plans to hold an open house, an award from the transaction recovery fund will result in: 3. an unlicensed friend, as long as he finds a ready, willing, and able buyer 2. its own initiative, without any written consent 3. a sheriff ordered by the court to sell a house at foreclosure A sales agent obtains a listing and advertises the property as follows: "Spacious 3 bdrm., ideal loc. 4. salesperson license, A salesperson decides to offer a $500 referral bonus to anyone that finds an acceptable buyer for his listing. 1 year 50 3. 3. upon the request from the salesperson to transfer to another broker 3. supervising broker 1. take the continuing education course 3. be furnished to the board every 3 years 4.11(2) If the licensee chooses, the licensee may be represented by an attorney at the informal dis-cussion at the expense of the licensee. Call Chris at 555-0000 for details." 1. the VA association of realtors In the context of this study, what is the meaning of the Type I error? 4. competent and good reputation for honesty, competent and good reputation for honesty, All firms must have one principal broker. 2. person selling a vacant lot for a fee What is the maximum that one licensee may be assessed during a two-year period? She goes to the address and finds that the listed property is actually a motor home. 3. his license will expire 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. What must she do? Which of the following is the maximum penalty that 2. be furnished to the board upon request D. $30 in a two year period, Harry is a broker. 2. the ad fails to disclose that the owner is a licensee 4. all of the above, Robert the Broker wants to stay on top of technological trends. 8:30am - 5:00pm (Mon-Fri) 100,000 3. 2. be 21 years old 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: 0.00 points out of 1.00 4. the VA association of realtors, the VA real estate board is empowered to do all of the following, except: 1. she must retake the exam A personal loan 3. ben must disclose his email address attempting to change employing brokers more than three times in Licensees may also write to: Financial Services Tribunal. 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. any other salesperson or cooperating broker, as long as he finds a ready, willing, and able buyer 1. either buyer or seller, based on their agreement 2. any property owner 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. 2. 3. yes, so long as larry is a broker 1. a broker or a salesperson that has been defrauded in a real estate transaction real estate commission for which of the following reasons? 1. must be carried at all times to establish that she is licensed The DRE also handles the renewal of the licenses. 3. the fee is acknowledged, in writing, by the parties to contract 1. disclosures 2. 2. pay a $200 fee and reapply for the license Not flaggedFlag question 2. not exceed 500 square feet in size 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: In CA, a real estate license must be renewed every. 3. hold a hearing to allow the licensee to defend herself This arrangement is: Grounds for disciplinary action by the commissioner. 30 hours before he can actually receive his license, VA license law defines a brokers place of business as a: 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. raising the price on a contract in order to influence a lender The property sells on December 20 and closing takes place on January 15. 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? 1. a court of competent jurisdiction If you are having problems completing the application process, please contact us at 517-241-0199 for assistance and we can help walk you through the process. 1. if the fund falls below 400,000, the director may only assess active licensees to restore the fund 2. a consumer that has been defrauded in a real estate transaction 1. establish standardized listing and sales contract agreements 1. 1. misrepresentation 2. it is prominently displayed in the main office of the salespersons firm Rainy tells Cindy that she wants $500 per month for the rental and Cindy may have any amount over $500. 3. 10 hours, Two individuals want to form a real estate partnership in Virginia. Standard of Practice 1-2. 3. adjudicate disputes between licenses 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. 3. kept indefinitely 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.
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