Alabama Real Estate License Law| Questions With 100% Correct Answers | Verified

15 days - AREC must give __?____ days notice of the hearing? 30 days - How many days does AREC have to give before their decision is stated? 30 days - How many days does the licensee have to decide if they will accept the decision of AREC or appeal it? conversion - spending earnest money = theft misuse of trust accounts - What is the #1 violation that would cause a license to be revoked or suspended? detailed closing statement showing all receipts and disbursements - In addition to the licensee providing an estimated closing statement at offer time, they should also furnish __________ at the time the sale is closed. Immediately - When should any cash funds be deposited by? Commission and public - A qualifying broker shall be held responsible to the _________&____________ for all acts of each salesperson and associate broker licensed under them Qualifying Broker - A _______ will be responsible to an injured party for the damage caused by any violation by a licensee engaged by this person. 7 days - Each qualifying broker shall promptly disburse to the appropriate party any trust monies owed within _______ days of the consummation of the transaction for which the funds were deposited. liable for all acts of the out-of-state broker and for their own acts - In an out-of-state co-brokerage the AL broker shall be ___________...