ARKANSAS REAL ESTATE EXAM REVIEW QUESTIONS AND ANSWERS/ VERIFIED.

ARKANSAS REAL ESTATE EXAM REVIEW QUESTIONS AND ANSWERS/ VERIFIED. principal broker - -an individual who performs certain real estate services for another party for compensation. ultimately responsible for the company's activities, notably the activities of other licensees as well as the business's trust accounts. real estate duties not requiring license - -Delivery of a lease application or lease. Receiving a lease or lease application for delivery to the principal broker, real estate firm, or owner. Receiving a security deposit, rent payment or related payment for delivery to the principal broker, real estate firm, or owner. Acting under the direct written instructions of the principal broker, firm or owner in: Showing a rental unit. Assisting in the execution of a preprinted lease or rental agreement containing pre-established terms. Conveying information regarding a lease transaction prepared by the principal broker, firm, or owner to any person. executive broker - -a licensed broker employed and supervised by a principal broker as an employee or independent contractor who can perform real estate services under the auspices of the principal broker, but who also has the authority to supervise associate brokers and salespersons. associate broker - -licensed broker who, as an employee or independent contractor, may perform real estate services under the supervision of a principal broker or executive broker. The associate broker may not supervise any other licensee to qualify for a Arkansas license - -Be of majority age (18 years old). Satisfy educational requirements. Satisfy experience requirements. Pass the appropriate licensing examination. Demonstrate a record of professional conduct. Provide evidence of honesty, trustworthiness and integr