Real Estate P&P Quiz 12 Questions and Answers 2024

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