100% CORRECT ANSWERS|LATEST
Principal broker - ANSWER an individual who performs certain real estate services
for another party for compensation. Ultimately responsible for the company's activities,
notably the activities of other licensees as well as the business's trust accounts.
Real estate duties not requiring license - ANSWER Delivery of a lease application or
lease.
Receiving a lease or lease application for delivery to the principal broker, real estate firm, or
owner.
Receiving a security deposit, rent payment or related payment for delivery to the principal
broker, real estate firm, or owner.
Acting under the direct written instructions of the principal broker, firm or owner in:
Showing a rental unit.
Assisting in the execution of a preprinted lease or rental agreement containing pre-
established terms.
Conveying information regarding a lease transaction prepared by the principal broker, firm,
or owner to any person.
Executive broker - ANSWER a licensed broker employed and supervised by a
principal broker as an employee or independent contractor who can perform real estate
services under the auspices of the principal broker, but who also has the authority to
supervise associate brokers and salespersons.
Associate broker - ANSWER licensed broker who, as an employee or independent
contractor, may perform real estate services under the supervision of a principal broker or
executive broker. The associate broker may not supervise any other licensee
1
,To qualify for a Arkansas license - ANSWER Be of majority age (18 years old).
Satisfy educational requirements.
Satisfy experience requirements.
Pass the appropriate licensing examination.
Demonstrate a record of professional conduct.
Provide evidence of honesty, trustworthiness and integrity.
Complete a criminal history background check.
Pay the appropriate fees.
Requirement for brokers license - ANSWER 60 classroom hours in real estate within
a 3-year period prior to the date of application, documented by the approved school or
other satisfactory evidence
Two years experience as a licensed Arkansas salesperson, or salesperson or broker from
another state, within the four-year period preceding the date of application
Application procedure for initial licensure - ANSWER for documentation evidencing
fulfillment of the requirements previously identified concerning education, experience,
character, age, etc
Submit payment for the non-refundable application fee as well as the license examination
fee.
Requested the criminal background check may then take the license examination
Invalidate the results of exam and applicant must reapply an retest -
ANSWER Applicants who pass the exam must pay the license fee and Real Estate
Recovery Fund fee within 90 days from the date of the examination. Failure to pay these fees
will:
90 days following exam date - ANSWER Upon successful completion of the
examination, the applicant must submit the proper forms and fees to the Commission no
later than
2
,A six-month extension - ANSWER if an applicant fails one of the sections of the
exam, he or she is granted a _____ re-take and pass the failed portion. Misses deadline he or
she must re-take the entire exam.
If the examinee waits more than one year - ANSWER he or she must re-take the
exam and re-apply for the license.
Exempt from general portion of exam if: - ANSWER They passed the general portion
in another state, subject to Commission approval; and
The passing grade for such section is no lower; and
The examinee is licensed in another state at the time he or she takes the Arkansas exam.
Requirements for non-resident licensure are: - ANSWER Meet the same
requirements as residents; or follow commissions non-resident regulations and meet
requirements such as Affiliate with a resident or non-resident principal broker licensed by
the Commission etc.
If a resident or non-resident licensee terminates affiliation with a principal briker -
ANSWER the person's license is terminated until such time as a re-affiliation occurs
with another principal broker and the nonresident/resident places his or her license on
inactive status.
December 31 - ANSWER All Arkansas real estate licenses, active or inactive, expire
on___ even in the initial year of licensure
September 30 - ANSWER The deadline for renewing the license without paying
additional fees
90 prior to expiration - ANSWER the Commission will issue a renewed license upon
receipt of the application no later than
3
, 7 days - ANSWER Inactive licensees must notify the Commission of any change in
name or address within
To activate an inactive license - ANSWER must complete 6 hours of CE for every year
the licensee was inactive, up to a total of 30 hours.
If a license has been expired in excess of 3 years - ANSWER the reactivation
requirement will be the same as a new applicant.
To reactivate an expired license - ANSWER submit a renewal application, pay the
appropriate fee, and satisfy continuing education and any other requirements
On or about July 15th - ANSWER the Commission sends licensees notice to renew
licenses for the upcoming year.
In a specific topic identified by the Commission - ANSWER At least one hour of the
6-hour requirement will be
The first partial year, nor the following full year of licensure - ANSWER New
licensees are not required to complete the CE requirement in:
At least one hour of the 6-hour requirement - ANSWER will be in a specific topic
identified by the Commission (courses may not be taken twice to meet the requirement)
Courses exempt from SBPCE approval are: - ANSWER Courses offered by Realtor
Associations or affiliated councils.
Courses approved by the Commission.
3+-hour real estate-related courses offered by universities or colleges.
4
Principal broker - ANSWER an individual who performs certain real estate services
for another party for compensation. Ultimately responsible for the company's activities,
notably the activities of other licensees as well as the business's trust accounts.
Real estate duties not requiring license - ANSWER Delivery of a lease application or
lease.
Receiving a lease or lease application for delivery to the principal broker, real estate firm, or
owner.
Receiving a security deposit, rent payment or related payment for delivery to the principal
broker, real estate firm, or owner.
Acting under the direct written instructions of the principal broker, firm or owner in:
Showing a rental unit.
Assisting in the execution of a preprinted lease or rental agreement containing pre-
established terms.
Conveying information regarding a lease transaction prepared by the principal broker, firm,
or owner to any person.
Executive broker - ANSWER a licensed broker employed and supervised by a
principal broker as an employee or independent contractor who can perform real estate
services under the auspices of the principal broker, but who also has the authority to
supervise associate brokers and salespersons.
Associate broker - ANSWER licensed broker who, as an employee or independent
contractor, may perform real estate services under the supervision of a principal broker or
executive broker. The associate broker may not supervise any other licensee
1
,To qualify for a Arkansas license - ANSWER Be of majority age (18 years old).
Satisfy educational requirements.
Satisfy experience requirements.
Pass the appropriate licensing examination.
Demonstrate a record of professional conduct.
Provide evidence of honesty, trustworthiness and integrity.
Complete a criminal history background check.
Pay the appropriate fees.
Requirement for brokers license - ANSWER 60 classroom hours in real estate within
a 3-year period prior to the date of application, documented by the approved school or
other satisfactory evidence
Two years experience as a licensed Arkansas salesperson, or salesperson or broker from
another state, within the four-year period preceding the date of application
Application procedure for initial licensure - ANSWER for documentation evidencing
fulfillment of the requirements previously identified concerning education, experience,
character, age, etc
Submit payment for the non-refundable application fee as well as the license examination
fee.
Requested the criminal background check may then take the license examination
Invalidate the results of exam and applicant must reapply an retest -
ANSWER Applicants who pass the exam must pay the license fee and Real Estate
Recovery Fund fee within 90 days from the date of the examination. Failure to pay these fees
will:
90 days following exam date - ANSWER Upon successful completion of the
examination, the applicant must submit the proper forms and fees to the Commission no
later than
2
,A six-month extension - ANSWER if an applicant fails one of the sections of the
exam, he or she is granted a _____ re-take and pass the failed portion. Misses deadline he or
she must re-take the entire exam.
If the examinee waits more than one year - ANSWER he or she must re-take the
exam and re-apply for the license.
Exempt from general portion of exam if: - ANSWER They passed the general portion
in another state, subject to Commission approval; and
The passing grade for such section is no lower; and
The examinee is licensed in another state at the time he or she takes the Arkansas exam.
Requirements for non-resident licensure are: - ANSWER Meet the same
requirements as residents; or follow commissions non-resident regulations and meet
requirements such as Affiliate with a resident or non-resident principal broker licensed by
the Commission etc.
If a resident or non-resident licensee terminates affiliation with a principal briker -
ANSWER the person's license is terminated until such time as a re-affiliation occurs
with another principal broker and the nonresident/resident places his or her license on
inactive status.
December 31 - ANSWER All Arkansas real estate licenses, active or inactive, expire
on___ even in the initial year of licensure
September 30 - ANSWER The deadline for renewing the license without paying
additional fees
90 prior to expiration - ANSWER the Commission will issue a renewed license upon
receipt of the application no later than
3
, 7 days - ANSWER Inactive licensees must notify the Commission of any change in
name or address within
To activate an inactive license - ANSWER must complete 6 hours of CE for every year
the licensee was inactive, up to a total of 30 hours.
If a license has been expired in excess of 3 years - ANSWER the reactivation
requirement will be the same as a new applicant.
To reactivate an expired license - ANSWER submit a renewal application, pay the
appropriate fee, and satisfy continuing education and any other requirements
On or about July 15th - ANSWER the Commission sends licensees notice to renew
licenses for the upcoming year.
In a specific topic identified by the Commission - ANSWER At least one hour of the
6-hour requirement will be
The first partial year, nor the following full year of licensure - ANSWER New
licensees are not required to complete the CE requirement in:
At least one hour of the 6-hour requirement - ANSWER will be in a specific topic
identified by the Commission (courses may not be taken twice to meet the requirement)
Courses exempt from SBPCE approval are: - ANSWER Courses offered by Realtor
Associations or affiliated councils.
Courses approved by the Commission.
3+-hour real estate-related courses offered by universities or colleges.
4
