Real Estate P&P Quiz 12 with Certified Solutions

Real Estate P&P Quiz 12 with Certified Solutions The real estate license laws are to maintain high standards in the real estate profession true A salesperson may advertise a property for sale only if he or she uses the employing broker's name in the advertisement If a broker's license is revoked, the licensee cannot practice real estate A broker, who represents a seller under an exclusive right to sell listing receives two offers for the property at the same time, the first from one of the broker's salespeople and the second from a cooperating broker. What should the broker do? Submit both offers at the same time Whose responsibility is it to submit proof that a licensee has completed his or her mandatory 30 hours of continuing education? The licensee's An applicant for a broker's license must produce evidence of having satisfied Character Educational Experiential To use the Ohio Real Estate Recovery Fund, the aggrieved party must: be damaged by a real estate licensee while rendering professional services. The real estate license laws is to protect the agent from dishonest buyers and sellers false One of the five sanctions that the Ohio Real Estate Commission may impose on a licensee is they can issue a public reprimand true According ORC section 4735.10 all brokers must maintain a bank trust account in a depository institution located in Ohio true How many hours is required for continuing education every three years 30 What are the different statuses for your license Voluntary Hold Resigned Inactive The Ohio Real Estate Commission adopted the Code of Ethics false In Ohio, persons who sell real estate for another in return for some form of payment must be licensed as real estate salespersons or brokers The Ohio License Law requires all licensees to attend continuing education courses in all of the following topics except ??? All Ohio real estate brokers must ??? Within 12 months after becoming licensed you must successfully complete 20 hours for a salesperson. true The Ohio Real Estate Commission has entered into reciprocity agreements with Arkansas, West Virginia, Nebraska, Oklahoma and Washington false What are some the duties Ohio Division of Real Estate except Promote the Canon of Ethics SARA is the acronym for Superfund Amendments and Reauthorization Act true Old industrial sites that are eyesores, dangerous and hazardous properties are called Brownfields true Carbon Monoxide is a naturally occurring,