Montana Real Estate Exam ; Questions and Answers
Who is not Required to have a Real Estate License Correct Ans-An auctioneer employed by
owner
an executor of an estate (acting under court order)
government employee
owners or lessors of their own property
Who is Required to have a Real Estate License Correct Ans-broker of salesperson to
negotiate sale or lease
(without or without the expectation of getting paid)
anyone showing someone else's property
The Board Correct Ans-Consists of seven people appointed by the governor
does not involve itself with commission disputes
does give advice regarding trust accounting rules
The Boards rules Correct Ans-The Boards rules are laws; violations are misdemeanors
The Board has the power to Correct Ans-subpoena documents
, Montana Real Estate Exam ; Questions and Answers
issue and injunction against any licensee
place a licensee on probation
suspend a license for one year
permanently revoke a license
If a broker's license is suspended Correct Ans-The board sends a stop order, cease and
desist
Property Manager is Correct Ans-a person who will only lease property but not represent
sellers of buyers
may obtain a restricted Property Manager license and operate without a Supervising Broker
A licensed property manager cannot Correct Ans-represent sellers or buyers
collect a referral fee for sending sellers or buyers to a broker
A Property Manager's license Correct Ans-is not needed buy a close relative of a property
owner
a manager who works for only one owner
Who is not Required to have a Real Estate License Correct Ans-An auctioneer employed by
owner
an executor of an estate (acting under court order)
government employee
owners or lessors of their own property
Who is Required to have a Real Estate License Correct Ans-broker of salesperson to
negotiate sale or lease
(without or without the expectation of getting paid)
anyone showing someone else's property
The Board Correct Ans-Consists of seven people appointed by the governor
does not involve itself with commission disputes
does give advice regarding trust accounting rules
The Boards rules Correct Ans-The Boards rules are laws; violations are misdemeanors
The Board has the power to Correct Ans-subpoena documents
, Montana Real Estate Exam ; Questions and Answers
issue and injunction against any licensee
place a licensee on probation
suspend a license for one year
permanently revoke a license
If a broker's license is suspended Correct Ans-The board sends a stop order, cease and
desist
Property Manager is Correct Ans-a person who will only lease property but not represent
sellers of buyers
may obtain a restricted Property Manager license and operate without a Supervising Broker
A licensed property manager cannot Correct Ans-represent sellers or buyers
collect a referral fee for sending sellers or buyers to a broker
A Property Manager's license Correct Ans-is not needed buy a close relative of a property
owner
a manager who works for only one owner
