AREC Arkansas Broker Unified Exam
Questions With Correct Answers
To |provide |evidence |that |a |person |is |qualified |to |conduct |business |as |a |real |estate |licensee, |
state |laws |require |each |applicant |for |a |license |must |do |all |of |the |following |EXCEPT:
A. |furnish |proof |of |a |good |reputation
B. |pass |an |examination |that |demonstrates |real |estate |knowledge |and |competency.
C. |file |an |application |for |testing |prior |to |scheduled |test.
D. |post |a |$2000 |performance |bond.
D. |post |a |$2000 |performance |bond.
A |broker's |license |may |be |revoked |for |any |of |the |following |EXCEPT:
A. |commingles |clients' |money |with |his |or |her |own.
B. |makes |false |statements |concerning |a |property |listed.
C. |advances |funds |from |escrow |account |3 |days |before |sale |is |closed |to |pay |rent.
D. |places |personal |funds |in |escrow |account |to |eliminate |closing |the |account.
D. |places |personal |funds |in |escrow |account |to |eliminate |closing |the |account.
Each |principal |broker |must |do |all |of |the |following |EXCEPT:
A. |maintain |a |definite |place |of |business.
B. |keep |a |special |escrow |account |for |monies |belonging |to |clients.
C. |designate |a |territory |in |which |licensees |can |operate.
D. |have |a |permanent |sign |on |the |place |of |business.
C. |designate |a |territory |in |which |licensees |can |operate.
The |fee |for |transferring |from |one |broker |to |another |for |a |sales |person |the |second |time |during |
a |renewal |period |is:
A. |$10.00
B. |$30.00
,C. |$100.00
D. |$25.00
B. |$30.00
Which |of |the |following |must |legally |have |a |real |estate |license?
A. |A |homeowner |offering |his |residence |for |sale
B. |An |individual |who |anticipates |receiving |a |fee |for |collecting |the |rent |from |a |former |
neighbor's |tenant
C. |Real |estate |appraisers
D. |An |attorney |who |specializes |in |real |estate |law
B. |An |individual |who |anticipates |receiving |a |fee |for |collecting |the |rent |from |a |former |
neighbor's |tenant
Provided |that |he |or |she |is |licensed, |a |salesperson |may:
A. |leave |the |employment |of |one |broker |and |become |associated |with |another |broker |without |
reporting |the |change |to |the |Real |Estate |Commission.
B. |act |as |an |agent |for |a |seller |in |his |or |her |own |right.
C. |manage |a |branch |office |in |the |same |city |of |the |principal |broker, |without |permission |of |the |
Real |Estate |Commission.
D. |manage |an |apartment |project |without |living |on |the |premises.
D. |manage |an |apartment |project |without |living |on |the |premises.
The |fee |for |transferring |from |one |broker |to |another |for |an |a |broker |for |the |first |time |during |a |
renewal |period |is:
A. |$3.00
B. |$30.00
C. |$20.00
D. |$100.00
B. |$30.00
Once |a |licensee |has |been |discharged |or |terminated, |how |many |days |does |the |Principal |Broker |
have |to |notify |the |Arkansas |Real |Estate |Commission?
A. |Fifteen
B. |Thirty
, C. |Seven
D. |Ten
C. |Seven
The |Arkansas |Real |Estate |Commission |is |required |periodically |to |publish |a |list |of |all |licensees |
and |of |those |licensees |who |have |had |any |disciplinary |action |taken. |This |list |is |published:
A. |monthly
B. |quarterly
C. |annually
D. |biannually
B. |quarterly
The |investigator |finds |evidence |a |sales |agent |has |violated |the |rules |and |regulations. |The |
person |is |notified |30 |days |before |the |hearing. |The |licensee |may:
A. |send |her |attorney |to |the |hearing
B. |accept |their |findings |and |not |go
C. |go |and |hear |them
D. |do |any |of |the |above
D. |do |any |of |the |above
In |which |of |the |following |capacities |may |a |licensed |Arkansas |real |estate |principal |broker |
employ |an |agent?
A. |sales |person
B. |broker-salesman
C. |independent |contractor
D. |any |of |the |above
D. |any |of |the |above
If |a |complainant |disagrees |with |the |Director |of |the |Commission's |dismissal |of |his |written |
complaint, |the |complainant |may:
A. |call |the |Chairman |of |the |Commission |and |discuss |it.
B. |submit |a |request |in |writing, |along |with |$100 |filing |fee, |to |obtain |a |determination |by |the |
entire |Commission.
Questions With Correct Answers
To |provide |evidence |that |a |person |is |qualified |to |conduct |business |as |a |real |estate |licensee, |
state |laws |require |each |applicant |for |a |license |must |do |all |of |the |following |EXCEPT:
A. |furnish |proof |of |a |good |reputation
B. |pass |an |examination |that |demonstrates |real |estate |knowledge |and |competency.
C. |file |an |application |for |testing |prior |to |scheduled |test.
D. |post |a |$2000 |performance |bond.
D. |post |a |$2000 |performance |bond.
A |broker's |license |may |be |revoked |for |any |of |the |following |EXCEPT:
A. |commingles |clients' |money |with |his |or |her |own.
B. |makes |false |statements |concerning |a |property |listed.
C. |advances |funds |from |escrow |account |3 |days |before |sale |is |closed |to |pay |rent.
D. |places |personal |funds |in |escrow |account |to |eliminate |closing |the |account.
D. |places |personal |funds |in |escrow |account |to |eliminate |closing |the |account.
Each |principal |broker |must |do |all |of |the |following |EXCEPT:
A. |maintain |a |definite |place |of |business.
B. |keep |a |special |escrow |account |for |monies |belonging |to |clients.
C. |designate |a |territory |in |which |licensees |can |operate.
D. |have |a |permanent |sign |on |the |place |of |business.
C. |designate |a |territory |in |which |licensees |can |operate.
The |fee |for |transferring |from |one |broker |to |another |for |a |sales |person |the |second |time |during |
a |renewal |period |is:
A. |$10.00
B. |$30.00
,C. |$100.00
D. |$25.00
B. |$30.00
Which |of |the |following |must |legally |have |a |real |estate |license?
A. |A |homeowner |offering |his |residence |for |sale
B. |An |individual |who |anticipates |receiving |a |fee |for |collecting |the |rent |from |a |former |
neighbor's |tenant
C. |Real |estate |appraisers
D. |An |attorney |who |specializes |in |real |estate |law
B. |An |individual |who |anticipates |receiving |a |fee |for |collecting |the |rent |from |a |former |
neighbor's |tenant
Provided |that |he |or |she |is |licensed, |a |salesperson |may:
A. |leave |the |employment |of |one |broker |and |become |associated |with |another |broker |without |
reporting |the |change |to |the |Real |Estate |Commission.
B. |act |as |an |agent |for |a |seller |in |his |or |her |own |right.
C. |manage |a |branch |office |in |the |same |city |of |the |principal |broker, |without |permission |of |the |
Real |Estate |Commission.
D. |manage |an |apartment |project |without |living |on |the |premises.
D. |manage |an |apartment |project |without |living |on |the |premises.
The |fee |for |transferring |from |one |broker |to |another |for |an |a |broker |for |the |first |time |during |a |
renewal |period |is:
A. |$3.00
B. |$30.00
C. |$20.00
D. |$100.00
B. |$30.00
Once |a |licensee |has |been |discharged |or |terminated, |how |many |days |does |the |Principal |Broker |
have |to |notify |the |Arkansas |Real |Estate |Commission?
A. |Fifteen
B. |Thirty
, C. |Seven
D. |Ten
C. |Seven
The |Arkansas |Real |Estate |Commission |is |required |periodically |to |publish |a |list |of |all |licensees |
and |of |those |licensees |who |have |had |any |disciplinary |action |taken. |This |list |is |published:
A. |monthly
B. |quarterly
C. |annually
D. |biannually
B. |quarterly
The |investigator |finds |evidence |a |sales |agent |has |violated |the |rules |and |regulations. |The |
person |is |notified |30 |days |before |the |hearing. |The |licensee |may:
A. |send |her |attorney |to |the |hearing
B. |accept |their |findings |and |not |go
C. |go |and |hear |them
D. |do |any |of |the |above
D. |do |any |of |the |above
In |which |of |the |following |capacities |may |a |licensed |Arkansas |real |estate |principal |broker |
employ |an |agent?
A. |sales |person
B. |broker-salesman
C. |independent |contractor
D. |any |of |the |above
D. |any |of |the |above
If |a |complainant |disagrees |with |the |Director |of |the |Commission's |dismissal |of |his |written |
complaint, |the |complainant |may:
A. |call |the |Chairman |of |the |Commission |and |discuss |it.
B. |submit |a |request |in |writing, |along |with |$100 |filing |fee, |to |obtain |a |determination |by |the |
entire |Commission.
