Chapter 1. Arkansas License Law.
(Lesson 2, Licensing-Related Laws
and Regulations AR 2992.)
An hourly employee receives deposits for delivery to their principal broker employer.
Here, this party: - answerIs exempt from licensure.
The broker requirement is to complete a __________ broker course within 6 months
following the end of the month of the date of issuance of the initial license to fulfill the
Arkansas post-licensing requirements. - answer30-hour
What are the education requirements for initial broker licensure? - answer60 classroom
hours in addition to the salesperson's education requirements
If an examinee he passes one sections of the test but fails the other, What must they
do? - answerRetake the failed section within 6 months or retake the entire exam
To active an inactive license, a licensee must: - answerComplete 6 hours of CE for
every year the license was inactive.
A licensee must have a real estate license on _________ status in order to engage in
real estate practice. - answerActive
To maintain active status, salespersons, associate brokers, and executive brokers must:
- answerBe employed by a principal broker
A license applicant carelessly fails to pay the proper fees following completion of the
state exam. What happens as a consequences? - answerThe applicant must re-test and
reapply.
Who needs an Arkansas real estate license? - answerAuctioneers of real property
Who CANNOT supervise any other licensee? - answerThe associate broker
Active licensees applying for renewal without completing the CE requirement are: -
answerRenewed as inactive licensees until the requirements are met
Who is ultimately responsible for a real estate company's activities, notably the activities
of other licensees as well as the business's trust accounts? - answerThe principal
broker
(Lesson 2, Licensing-Related Laws
and Regulations AR 2992.)
An hourly employee receives deposits for delivery to their principal broker employer.
Here, this party: - answerIs exempt from licensure.
The broker requirement is to complete a __________ broker course within 6 months
following the end of the month of the date of issuance of the initial license to fulfill the
Arkansas post-licensing requirements. - answer30-hour
What are the education requirements for initial broker licensure? - answer60 classroom
hours in addition to the salesperson's education requirements
If an examinee he passes one sections of the test but fails the other, What must they
do? - answerRetake the failed section within 6 months or retake the entire exam
To active an inactive license, a licensee must: - answerComplete 6 hours of CE for
every year the license was inactive.
A licensee must have a real estate license on _________ status in order to engage in
real estate practice. - answerActive
To maintain active status, salespersons, associate brokers, and executive brokers must:
- answerBe employed by a principal broker
A license applicant carelessly fails to pay the proper fees following completion of the
state exam. What happens as a consequences? - answerThe applicant must re-test and
reapply.
Who needs an Arkansas real estate license? - answerAuctioneers of real property
Who CANNOT supervise any other licensee? - answerThe associate broker
Active licensees applying for renewal without completing the CE requirement are: -
answerRenewed as inactive licensees until the requirements are met
Who is ultimately responsible for a real estate company's activities, notably the activities
of other licensees as well as the business's trust accounts? - answerThe principal
broker
