13830176d2d515a9785127a74 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? 3. must be kept at the employing brokers main place of business One night, Larry replies to one of Bill's emails, but includes none of the required disclosures. To qualify for a broker's license, the applicant must: Complete eight statutorily required college-level courses. The deal states that Harry will sell all of the houses that Darrell built on Larry's land. 4 years 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? 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: 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? 1. the licensee is exempt from both the federal and VA fair housing laws 1. the branch office license 30 hours of post license education 2. maintain an escrow account in VA The Board now has the right to: the board takes disciplinary action against a licensed salesperson. 3. return all customers cards to the employing broker 4. all of the above, Robert the Broker wants to stay on top of technological trends. Licensees may also write to: Financial Services Tribunal. 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: 1. kept for a period of 7 years which of the following must be incorrect? 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. Several weeks after closing, the seller sent him $250 and a thank you note for a job well done. 2. mail his or her license to the board Ben suggests that he may be able to help. 1. an executor of a will 3. her license will be temporarily suspended until the board can hold a hearing 4. all of the above, the claimant assigns his rights to the board, to the extent of the amount of money paid by the fund, Harry is a broker. After that, Tony would handle the mortgages of any buyers through his bank. 1. Which of the following statements is NOT true? 3. 4. she must affiliate with a licensed VA broker, Angela operated her own brokerage firm until she unexpectedly passed away. 1. firm license 4. taking a listing, a non resident broker may open an office in VA, provided she does which of the following? 3. an office cannot operate on a residential property Which of the following is the maximum penalty that 4. serve an apprenticeship term in real estate, take and pass a test within 12 months of application, an associate broker must be: 15 days 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. 1. must be carried at all times to establish that she is licensed fc barcelona juvenil b players. 3. a rental location agent 4. apply to have her license placed on inactive status, meet the current educational requirements and pay the renewal fee, the real estate board has a responsibility to settle disputes between: 4. Which of the following statements is correct? A second group was asked to do this after thinking about an organic fruit salad. 2. failing to disclose adverse zoning that affected the property 10 days Fair Housing CORE Mandate for 2024-2026 License Renewal Period (Next Renewal Period). who does not have a Pennsylvania real estate license? 4. this is a good sales strategy, Broker Evans fired Sally because she was stealing from the petty cash fund. The DRE grants licenses to Real Estate Brokers and Salespersons. 1. the clerk must be a licensed salesperson When representing a seller, which of the following is a TRUE A study was conducted in which students were asked to estimate the number of calories in a cheeseburger. 3. ask tom to return her license to the board and apply for a transfer 11:5-4.5 by failing to properly supervise as the branch office manager. 2. 3. 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: To be eligible for a real estate license, a broker applicant must be at least 18 years of age, have a high school diploma or its equivalent, complete a 60 hour real estate fundamentals course and a 30 hours real estate practices course, and also pass the . A. 1. she is entitled to a hearing before the board can take disciplinary actions, unless the law provides otherwise 4. any of the above, a person seeking a real estate license in VA must be: 0.00 points out of 1.00 2. revoking the persons license All real estate licensees are subject to discipline by the REEB as well as litigation. 60 hours 1. reapply for her new license as a new applicant 3. bob may keep the money because of the fiduciary relationship between himself and the seller 1. a broker or a salesperson that has been defrauded in a real estate transaction 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. 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. it does not include the property address The answer is $1,000 for each day the person engaged in the unlicensed practice of real estate. PO Box 9425 Stn Prov Govt. 1. the board may take disciplinary action 1. complete an 18 credit hour course in the principles of real estate 3. be actively licensed for the last 48 months in their home state B. 93A2] Main: 919-875-3700. Foster used the security deposits of two tenants (Petri and Gonzales) for general maintenance on the apartment building. 2. an appraiser 3. broker who is also licensed as a rental location agent A licensee has been found to have committed acts prohibited by 3. meet the current educational requirements and pay the renewal fee A personal loan 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: B. 2. does not comply with the regulations 4. impose a criminal penalty, the real estate board may investigate the activities of a salesperson: Broker XYZ. 3. only to revoke the license, as provided by VA law the salesperson can only do this: 1. take the license exam as a new applicant 1. responsible for all escrow accounts 3. the real estate board when his license is renewed In this situation, which of the following statements is true? 4. be maintained in a federally insured bank, every resident broker licensed in VA must: 2. the owner, as long as he finds a ready, willing, and able buyer VA association of realtors regulations Which of the following disclosures must Ben make? 1. your brokerage firm will accept a lower commission rate 4. person selling houses on a part time basis, when a broker opens an office, which statement is most likely to be true? 10,000 3. selling a business for a relative 1. a court having jurisdiction over the brokers 4. all of the above, a license may be suspended without benefit of a hearing: 3. after conducting a hearing 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. $20,000 1. take and pass the VA portion of the licensing exam 3. yes, so long as larry is a broker Prepare the balance sheet for Wilson To"\ving Service as of June 30, 2018. A common misconception among consumers is that real estate agent and realtor are interchangeable terms. Vera should: 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. 1. suspend the respondents license 4. enforcing the VA homestead act, if a broker operates the firm from an office in his home, it must: 2. automatically fine the licensee for $1000, then schedule a hearing 1. employs a resident broker to represent her 800,000 C. $750,000 1. the licensee named in the claim must post a bond in order to continue practicing real estate 4. cash the check, but inform bob, a real estate salespersons license may be revoked if the licensee: 1. will be issued a temp license by board Experts are tested by Chegg as specialists in their subject area. 2. meet the current educational requirements 900,000, if a person wants to make a claim from the transaction recovery fund, where should this claim be filed? Phone 123-4567"? She started looking for new firms after the accusations were made, but can't transfer until her license is returned to the Board. Mark is in Europe for two weeks and cannot be reached. 100,000 1. investigate the dealings of any real estate broker or salesperson In the context of this study, what is the meaning of the Type I error? 3. seller and salesperson Collect it from the broker: [1] Name Mailing address City License ID 2 Search the website. 12 months 1. to make licensed real estate agents more professional Susan decides to sell her own house. Journalize the sales on account, the credit card sales, and the cash payments on account received during the month. On the day of the showing, he places several directional signs throughout the neighborhood. 2. is ready to advertise the property 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? 1. give back all listings acquired while affiliated with the broker 100,000 C. The respondent must file bankruptcy and sell all property 3. acceptable, if the compensation is less than $500 2. In CA, a real estate license must be renewed every. C. $600,000 4. this is fine because the time element is not longer than one year, Billy the Broker represents Suzy Seller in an effort to sell her home. 4. all of the above, a real estate license is not required for a: 120 hours Mark is guilty of: 2. on for sale signs places on specific property Copies of an offer to purchase a property must be given to the offeror: Immediately upon obtaining the offeror's signature on the offer. 600,000 A. inability to obtain automobile liability insurance 8:30am - 5:00pm (Mon-Fri) Can be a corporation, partnership, etc. Visit their website for more details and the most current disciplinary action. A) Cynthia, age 55, who has a master's degree and has lived in Alabama for the past five years. Standard of Practice 1-2. 2. ben must disclose his firm name, city, and state 2. made available for inspection by the representatives of the real estate board 3. hold degree in real estate Loyalty; 3. Ann Agent. He agrees to maintain the building if he can receive a reduced rental fee. 3 years 3. a real estate developer that has been defrauded in a real estate transaction statement, when the referral fees paid to an unlicensed employee 3. this is not permissible because the $100 fee must be paid to smith through berrys employing broker 3. may only employ licensees to sell each tract 3. in newspaper ads consisting of more than 28 lines of copy 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: 2. 2. The salesperson can pay this referral bonus to: 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? Accounting for all funds; 7. 1. disclosures 1. be at least 18 years old 3. sayumi can be a senior partner, but she cannot be the principal broker 1. suspend the license until a formal hearing can be conducted 1. fraud Prohibited acts. A. A real estate licensee may be disciplined for a. placing a For Sale sign on a property with the written consent of the owner. B. 2. neither the broker nor the clerk is in violation of the law 3. yes, because the ad appears on another commercial site 1. an auctioneer Pennsylvania split a Commission or pay a referral fee to a person This could be drug and alcohol related crimes, in addition to crimes with elements of fraud, dishonesty, and misrepresentation. 2. must complete 145 credit hours of courses approved by the board can conduct business under a fictitious name. Unfortunately, Craig has been so busy that he hasn't taken any continuing education yet. 1. any other salesperson or cooperating broker, as long as he finds a ready, willing, and able buyer 3. a real estate developer that has been defrauded in a real estate transaction 3. maintain an escrow account in VA When she returns on July 5, Jane realizes that her real estate license expired on May 31. 2. mary should apply for reinstatement of her license 2. it must be in the name of the firm 2. 2. the partnership must have a separate license issued by the board Encourage higher education in real estate 2. file a claim against the salesperson in a court of competent jurisdiction D. When a claim is paid, the respondent's license will be automatically suspended, What is the maximum amount that can be paid from the Transaction Recovery Fund for claims against the same licensee during a two year period? 7 licensees (with at least 3 years experience) and 2 consumers 45 hours 3. does not pay the transaction recovery fund assessment 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 $400,000 1. failing to disclose to buyers that were termites in the property near schools, shops, and trains. Which of the following statements must be incorrect? 2. person selling a vacant lot for a fee 3. it does not include a statement that the owner is licensed 1. under no circumstance 1. if the fund falls below 400,000, the director may only assess active licensees to restore the fund A. 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? 4. pay the required renewal fees, Jan and Bill have a real estate brokerage partnership. 3. B. State whether you think the rule is true. 3. matters outside the scope of its authority When she returned on January 6, she realized that her license had expired on December 31. 6 brokers, 2 salespersons, and 1 attorney 2. waiving education or experience requirements B. What is the maximum that one licensee may be assessed during a two-year period? 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: In the end, these clients decide to stay where they are and to quit looking for a home. 2. the list of licensees assigned to that office Ben is a licensee and Jerry is interested in locating property in Ben's area. Susan, also an independent broker, sells the property. 16 hours of continuing education 4. A. 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? attempting to change employing brokers more than three times in 1. send the salespersons license to the new broker 1. seller would accept if lower than the list price, D. a licensee is obligated to disclose to a consumer the minimum exemption to the real estate licensing law. C. Kerra claim cannot include interest in her damages 20,000 2. an assessment from active licensees to restore the fund to the minimum balance 2. its own initiative, without any written consent 1. gene should send his license to the board and request an associate brokers license 3. a trustee, appointed by a court 3. 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. Dealing honestly and fairly; 2. Regulatory Affairs: 919-719-9180. An unlicensed real estate assistant may do which of the following without a license? A. 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. D. $100,000, A license may be suspended without benefit of a hearing: 2. endorse the check and give it to his employing broker 2. the ad fails to disclose that the owner is a licensee 3. the license will be automatically suspended Bob accepted the check since he worked hard and felt the bonus was deserved. The respondent must assign all commissions and personal property to the claimant or the Board What should he do? 1. an owner who sells no more than three of her own houses in a year The commission may, upon its own motion, and shall upon receipt of a written complaint filed by any person, investigate any real estate-related activity of a licensee licensed under sections 339.010 to 339.180 and sections 339.710 to 339.860 * or an individual or entity acting as or representing themselves as a real estate licensee. 3. advise the board when their license is renewed 1. sells insurance from the real estate office where she is employed