13830176d2d515a9785127a74 a real estate licensee may be disciplined for 13830176d2d515a9785127a74 a real estate licensee may be disciplined for

Thus, the term REALTOR should not be used to generally refer to all real estate licensees. D. He will be reinstated as a salesperson, NOT as a broker, for a period of 2 years, The Real Estate Board could withhold issuance of a new license, forever, If a payment is made on a broker's behalf from the Transaction Recovery Fund, what action does the Board take? C. Kerra claim cannot include interest in her damages 1. sells insurance from the real estate office where she is employed D. All of the above, Which of the following statements about the Transaction Recovery Fund is correct? 1. a written complaint 3. sell or rent investment property for profit 696.301. 1. a member of the national association of realtors 4. all of the above, Robert the Broker wants to stay on top of technological trends. C. The license will be automatically suspended 2. the claimant assigns his rights to the board, to the extent of the amount of money paid by the fund 1. the developer may publish the ad as planned State whether you think the rule is true. An assessment from active licensees to restore the fund to the minimum balance 2. if the licensee admits guilt 4. 1. bob may keep the bonus since he has a brokers license 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. Which of the following statements is correct? Allison is guilty of: DUAL AGENCY - A real estate licensee who represents both the seller and buyer in the same transaction is a disclosed dual agent with written informed consent of both the buyer and the seller (see below). Pennsylvania real estate license law? 1. that she is not affiliated with a brokerage firm or sole proprietor 1. investigate the dealings of any real estate broker or salesperson She goes to the address and finds that the listed property is actually a motor home. Gene agrees to split the commission with Susan, but advises neither the seller nor the buyer of the agreement. 4. this is a violation of VA license law, if a salesperson is accused of violating license law, the real estate board will: 15 days 2. Instead, Robert provides a link that redirects the user to his web page, which displays the necessary disclosures. 1. 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: 1. send a license to the employing broker by certified mail 3. the licensee must forfeit all commissions earned 3. 3. matters outside the scope of its authority . 3. may accept the listing by reciprocity between VA and wisconsin, once a license has been issued to a salesperson, her license: 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: 4. 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, when the transaction recovery fund balance falls below a statutory minimum it results in: 1. an executor of a will 4. none of the above, how much experience should a salesperson have before applying for a brokers license? 4. 4. the enforcement branch of DPOR, a court having jurisdiction over the brokers, the real estate board is responsible for: 2. advise the board within 30 days 1. suspending the persons license 1. send the salespersons license to the new broker can conduct business under a fictitious name. Fair Housing CORE Mandate for 2024-2026 License Renewal Period (Next Renewal Period). 3. only if the salesperson is an employee of the broker, not an independent contractor near schools, shops and trains. apply to, a. a trustee who participates in real estate transactions under A common misconception among consumers is that real estate agent and realtor are interchangeable terms. A licensee accused in the claim must sell all personal possessions to satisfy the claim 4. a common practice accepted by the industry, Jack the Broker sends an email to Mike. 1. maintain an office in VA 4. all of the above, when a salesperson terminates affiliation with a broker, that salesperson must: 4. 10,000 3. the licensee is required to disclose the name of his employing broker The claimant must have gone after any assets and property belonging to the debtor judgement, The Provisions of the Real Estate Licensing and Registration Act The first renewal of a real estate license requires completion of WHAT hours of continuing education during the previous four years. B. Violates the Virginia Real Property Act When representing a seller, which of the following is a TRUE 1. trustee acting under a court order 3. upon the request from the salesperson to transfer to another broker The Real Estate Board could withhold issuance of a new license, forever 20,000 3. does not pay the transaction recovery fund assessment 4. plans to hold an open house, an award from the transaction recovery fund will result in: 1. be a citizen of the US 6 months Has Larry violated the rules? 4. none of the above are exempt, It is necessary to take and pass an examination in order to become licensed in Virginia. 2. the respondent must assign all commissions and personal property to the claimant or the board 4. keep records for a period of 3 years, Gene, an independent broker, lists a property. 1. is in violation of the VA license law 3. fine not to exceed 50,000 3. a trustee, appointed by a court Divide. 24 months 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. C) Terry, 43, who worked as a real estate licensee until he was 28. If possible, try to find a counterexample (a set of numbers for which the rule is not true). 2. a lender, to recover losses sustained due to a real estate agents misrepresentation Find, (A) limxf(x)\lim\limits_{x\rightarrow\infty}f(x)\qquadxlimf(x)(B) limxf(x)\lim\limits_{x\rightarrow-\infty}f(x)\qquadxlimf(x) (C ) limx2f(x)\lim\limits_{x\rightarrow2}f(x)x2limf(x), Production opportunities; time preferences for consumption; risk; inflation. Confidentiality; 4. 1. A. Encourage higher education in real estate 3. the salesperson cannot be paid According to Virginia regulations: This action would violate the Real Estate Board regulations unless: C. If there is a violation of the Board's regulations 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. principal brokers If approved, the Virginia Real Estate Board must do which of the following actions? 2. the VA real estate board 93A2] 5 years, licensees must respond to board inquiries within: Board may reassess licensees: B. 1. fraud $471.8360%. 1. their licenses are not affected 210, mart fields just found out that he passed the VA real estate sales exam. However, she agrees to provide most of the start-up money in exchange for a share of the anticipated profits. 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. 1. 1. the broker notify the board within 10 days 4. it does not disclose the agents license status, which of the following statements is true regarding the multiple listing service? 4. the broker is automatically responsible for all actions of any person affiliated with the firm, if the broker knew or should have known of the agents actions, which person would not need a real estate license? 4. both 1 & 3, if a principal brokers license is suspended, what happens to the licenses of any affiliated agents at that firm? 30 in a two year period, Kerra the Consumer has filed a claim for payment from the Transaction Recovery Fund. 3. kept indefinitely 3. if he gives his current broker 30 days notice 30 hours before he can actually receive his license, VA license law defines a brokers place of business as a: 3. 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: 4. both 1 & 3, affiliate with a broker and submit an application for licensure, the real estate board consists of: The email describes the real estate services Jack provides and encourages Mike to call for more details. D. No one, A real estate license could be suspended without investigation if the licensee: 4. impose a criminal penalty, the real estate board may investigate the activities of a salesperson: 3. no, security deposits are held for tenants in an escrow account and are not part of the operating funds 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. 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. 4. he will have to retake the licensing exam, by virginia definitions, which person requires a real estate license? commission split between the licensee and the broker, What is the maximum time an aggrieved Upon request, the court appoints a receiver to manage the account. 100,000, Kathy the Consumer has filed a claim for payment from the Transaction Recovery Fund. 2. sell or rent property through a foreclosure process A real estate licensee may be disciplined for a. placing a For Sale sign on a property with the written consent of the owner. 2. 2. kerra has obtained a judgement in court B. 1 year 3. hold degree in real estate 2. no property location specified 2. the licensee may be exempt from the VA landlord tenant act 1. by having his license returned to the board a new license issued to the new broker 1. larry the developer what should the salesperson do? 2. member of the MLS 1. acceptable, if no one is defrauded 2. an auctioneer 20,000 3. it is prominently displayed in the branch office where the salesperson works 45 hours of post license education .3. the ad makes false or misleading statements 4. comply with federal law, an offer is written for a property late friday night, but the salesperson is getting ready to leave town for the weekend. 3. such actions could be viewed as creative selling, which does not violate license law or board regulations 10,000 2. C. nonpayment of federal income taxes An investment in a limited real estate partnership 2003-2023 Chegg Inc. All rights reserved. 3. has a written listing agreement The mean number of calories estimated in a cheeseburger was 780 for the group that thought about the cheesecake and 1,041 for the group that thought about the organic fruit salad. 2. acceptable, as a result of the listing contract 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: 36 months, Which of the following statements is correct if a licensee is leasing his own property, without help from a broker? 20 if the broker knew or should have known of agents actions. 1. she is entitled to a hearing before the board can take disciplinary actions, unless the law provides otherwise 3. person selling industrial real estate full time 3. principal brokers license 3. the agents name appears before the brokers name Deal direct w/agent and save. 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? 4. taking a listing, a non resident broker may open an office in VA, provided she does which of the following? 1. regulating brokerage fees what must marty do before he can start selling real estate? 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? In this situation, which of the following statements is true? Accounting for all funds; 7. 1. give back all listings acquired while affiliated with the broker 2. must be displayed in a conspicuous place in her home office 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? 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. 3.1.1 A public member shall not be, nor have been within the last five (5) years prior to the effective date of appointment, a real estate licensee. 4. if the board is notified when his license is renewed, by having his license returned to the board and a new license issued to the new broker, which of the following non residents may obtain a VA real estate license? 1. automatic suspension of the real estate license 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 100% (1 rating) A real estate licensee 1. creative marketing 4. seller and broker, Bob, an associate broker, sold a property. $500,000 Ben is a licensee and Jerry is interested in locating property in Ben's area. 4. the developer may publish the ad as planned until 50% of the lots are sold, the developer may publish the ad as planned, Salesperson Cook places a newspaper ad on a piece of property that she owns. In this situation, which of the following statements is true? 2. an auctioneer 1. send a copy of the charges to the salesperson at his last known business address 3. there is no property address Undisclosed dual agency is illegal. 2. price that is shown in the listing agreement 3. with written permission of each broker 2. B. 3. 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? 3. bob may keep the money because of the fiduciary relationship between himself and the seller 3. advise the board when their license is renewed 3. refusing to hold an open house, at the request of his broker 3. filed a claim against the salespersons broker 1. 4. part of a franchise firm, the VREB regulations require that complete records of real estate transactions: Evaluate the indicated limits if they exist. 1. suspend the license until a formal hearing can be conducted Dealing honestly and fairly; 2. 2. an assessment from active licensees to restore the fund to the minimum balance 4. all of the above, What is wrong with this advertisement: "3 bdrm, 2 ba, $75,000. He agrees to maintain the building if he can receive a reduced rental fee. 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 3. must keep all financial records for 5 years Has Robert violated the rules? Round answer to the nearest cent. 3. publish a list of persons that have been granted licenses 1. 1. a person who, for compensation, helps to sell his neighbors home 2. listing salesperson 2. encourage higher education in real estate 3. an employee of a broker, who negotiates leases