In this situation, which of the following statements is true? Operations Management questions and answers, A real estate licensee may be disciplined by the Pennsylvania 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? 2. person selling a vacant lot for a fee 3. hold degree in real estate 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. which is true? Licensee Information **Executive Orders Impacting Applicants and Licensees Licensee Advisories and Alerts Prohibited acts. 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: B. 4. setting the commission rates for different types of property, waiving education or experience requirements, before a person can apply to obtain a brokers license, how much experience must she have as a salesperson? 4. the licensee notify the board within 30 days, the licensee notify the board within 30 days, which person can hold a concurrent license? This arrangement is: Grounds for disciplinary action by the commissioner. 3. 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? relocation service of a Corporation, when payment is in the form of entertainment goods services and Larry has: Exceeded the scope of his authority and violated real estate law. 1. file an annual report with the board which details the activities of each location 1. the licensee is exempt from both the federal and VA fair housing laws 100,000 1. inform his employing broker 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. independent contractors, negotiating leases on behalf of another for a fee 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? 2. she can obtain a temp license from the VREB to sell her house Collect it from the broker: [1] Name Mailing address City License ID 2 Search the website. 1. she may act as a broker in VA by virtue of her valid out of state license 3. operate profitably for at least one year 3. apply for renewal of her license 2. uniform commercial code B. Jack makes the required disclosures in the middle of his email, in bold lettering. 1. take and pass the VA portion of the licensing exam 3. a person who is currently licensed in another jurisdiction A. 1. failing to disclose to buyers that were termites in the property 2. gives a reduced commission rate to a family member 2. illegal 1. 2. if the agents actions were outside the authority granted by the employing broker 1. investigate the actions of any real estate broker or salesperson Holding more than one license as a real estate broker or salesperson in Virginia except as provided in this chapter; 3. A fine of $1,000 was imposed. the expanding universe activity 2 answer key / mahjong tiles engraving / mahjong tiles engraving Question text 100,000 A real estate licensee may be disciplined by the Pennsylvania real estate commission for which of the following reasons? 2. encourage higher education in real estate 3. chairman of the board 2. salesperson's employing broker PO Box 9425 Stn Prov Govt. C. Automatically revoke the broker's license 4. location of property, Bill hires Larry to sell his home. CA Real Estate Laws are found in the Business and Professions Code The commission rate to be given by a seller as set forth in the listing agreement is: Negotiated between the broker and seller. 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? 2. director 1. an investigation will be conducted unless the law specifically provides otherwise Victoria BC V8W 9V1. A. 193E4.2(543B) Method of discipline. 3. the licensee is required to disclose the name of his employing broker 3. a person that is not licensed in another state 3. take and pass a test within 12 months of application 3. an employee of a broker, who negotiates leases 3. meet the current educational requirements and pay the renewal fee 3. failing to inform the seller of the ethnic character of a buyer 2. failing to disclose adverse zoning that affected the property 3. kept indefinitely 4. competent and good reputation for honesty, competent and good reputation for honesty, All firms must have one principal broker. agreement of sale MUST contain the. 3. matters outside the scope of its authority 2. An investment in a limited real estate partnership 3. be furnished to the board every 3 years 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. 11:5-4.5 by failing to properly supervise as the branch office manager. 2. no property location specified They give Ellen $500 as compensation for all of her hard work. B. 3. identify his place of business with an appropriate sign 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. He agrees to maintain the building if he can receive a reduced rental fee. 3. sell or rent investment property for profit 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. Fowler may have anything over that amount as commission. 1. this is permitted since it is only done occasionally 16 hours within the first two years 24 months 93A2] 1. 10,000 A. 3. principal brokers license Visit the Bureau of Real Estate's website at http://www.dre.ca.gov/. 3. ben must disclose his email address 1. offer to sell, purchase, or exchange real estate on behalf of another for a fee 2. is ready to advertise the property payment received, license revocation and in order to perform community I am a. We reviewed their content and use your feedback to keep the quality high. 3. a property manager who leases property for the owner in the course of his employement When she returns on July 5, Jane realizes that her real estate license expired on May 31. 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: 3. to allow licensed real estate professionals to earn more money After that, Tony would handle the mortgages of any buyers through his bank. 3. the agents name appears before the brokers name Which circumstance might also put the employing broker at risk of disciplinary action? B. A. 3. transactions on behalf of a client, c. a real estate licensee selling real estate she owns, d. a licensed auctioneer who is auctioning property. 4. 2. a salesperson who holds a business entity license 40 3. a real estate transaction A. 4. One lot is $10,000 and all others are in the $15,000 - $20,000 price range. 1. sayumi cannot engage in acts of brokerage 1. take listings over the phone Licensees may also write to: Financial Services Tribunal. 3. Thus, the term REALTOR should not be used to generally refer to all real estate licensees. 50,000 person has to apply to the Real Estate Recovery Fund after final Has Larry violated the rules? D. All of the above, Which of the following statements about the Transaction Recovery Fund is correct? These Acts establish the makeup of the Commission and its advisory committees and outline procedures by which a person can become real estate license holders in Texas. 2. if the licensee admits guilt 2. pay a $200 fee and reapply for the license In order to receive payment, this claim must be in connection with: 4. none of the above are exempt, It is necessary to take and pass an examination in order to become licensed in Virginia. Suppose that the study was based on a sample of 20 people who thought about the cheesecake first and 20 people who thought about the organic fruit salad first, and the standard deviation of the number of calories in the cheeseburger was 128 for the people who thought about the cheesecake first and 140 for the people who thought about the organic fruit salad first. 3. in newspaper ads consisting of more than 28 lines of copy 1. send a copy of the charges to the salesperson at his last known business address 4. be a virginia resident for at least 1 year, An unlicensed investor plans to open a real estate brokerage business. 3. does not pay the transaction recovery fund assessment state, there are no circumstances under which this is allowed, disclosure of controlled business arrangements, License revocation and in order to return the competition 2. may allow unlicensed employees (on a regular salary) to sell the tracts 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. 1. his license is null and void 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. 1. the board may take disciplinary action 1. an auctioneer 2. neither the broker nor the clerk is in violation of the law 2. he can pay a fine to extend the renewal date Mark is guilty of: VA association of realtors regulations In the situation described, which of the following statement is true? 1. salesperson 3. a real estate developer that has been defrauded in a real estate transaction 2. tell the buyer it will have to wait until monday 2. a consumer that has been defrauded in a real estate transaction 1. at least 40 hours per week On the day of the showing, he places several directional signs throughout the neighborhood. 4. in VA, she can only sell her house if she is a licensed appraiser, she does not need a real estate license to sell her house, a broker is required to return an affiliated agents license to the board in all of the following situations, except: License Categories [G.S. $10,000 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. regulating brokerage fees what should the salesperson do? 4. apply to the real estate board for a license as a new applicant, ask tom to return her license to the board and apply for a transfer, a VA real estate license must be renewed at periodic intervals. 2. acceptable, as a result of the listing contract A. 1. a court having jurisdiction over the brokers 4. no, because disclosure was provided in prior communication, yes, because the rules require specified disclosures in emails, Correct 1. suspend the license until a formal hearing can be conducted Seller anxious to move. 1. firm license 2. 1. raising the price on a contract in order to influence a lender 3. if there is a violation of the boards regulations 4. any amount of time, Under certain circumstances, the Board may grant reciprocity to a person who is licensed in another state. 1. take the license exam as a new applicant 1. suspension of his license and a fine the board takes disciplinary action against a licensed salesperson. 3. 3. an attorney who is offering real property for sale under court order 2. If the Fund falls below $400,000, the Director may only assess active licensees to restore the Fund 3. maintain an escrow account in VA 2. the tenant must establish an escrow account A real estate license is an authorization issued by a government body to give agents and brokers the legal authority to represent a home seller or buyer in a real estate transaction. 4. impose a penalty of up to one year in prison, impose a penalty of up to one year in prison, A salesperson took a listing on October 15. 2. made available for inspection by the representatives of the real estate board 1. determining commission splits between all MLS brokers 1. 3. selling a business for a relative 3. yes, because suzy must communicate directly with billy 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 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. a 20% decrease in the maximum payment one may receive from the fund, an assessment from all licensees to restore the fund to the minimum balance, 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? 4. taking a listing, a non resident broker may open an office in VA, provided she does which of the following? The actual misuse of trust funds by converting them to the broker's own use. 4. all of the above, a consumer that has been defrauded in a real estate transaction, what is required in order to be eligible for a VA salespersons license? 4. the inspection service provides a warranty, the fee is acknowledged, in writing, by the parties to contract, A salesperson candidate is required to take a certain number of credit hours before sitting for the state licensing exam. 2. be furnished to the board upon request 2. 1. commingling The respondent must assign all commissions and personal property to the claimant or the Board 4. An assessment from all licensees to restore the fund to the minimum balance A. 3. supervising broker