Alabama State Exam Revision Questions and Answers

1. describe all four services in writing 2. tell the consumer which services the firm offers 3. allow a consumer to make a choice A brokerage firms does not have to offer all four (single agent, sub-agent, limited consensual dual agent, and transaction broker) services however the brokerage firm must: Real Estate Consumer's Agency Disclosure Act. What does RECAD stand for? four services that a licensee can offer the public RECAD says that a form called the Real Estate Brokerage Services Disclosure form MUST be used when describing the A Consumer Information Booklet that is optional if a licensee wants to present it to a consumer. The consumer should be encouraged to sign the mandatory Real Estate Brokerage Services Disclosure form but the consumer does not have to sign it. There is a tri-fold called 1. revoke the license 2. suspend the license 3. fine of $100 to $2,500 4. reprimand the licensee 5. require licensee to take continuing education 6. require restitution by licensee The Alabama Real Estate Commission can: $ 185 renewal Fee $ 150 Late Fee --------------------- $ 335 TOTAL Owed to Renew What if a licensee with a salesperson's license misses the August 31 deadline to renew his or her licensee. What is owed? 90 days after passing the exam Persons who pass the licensing examination must file the license application with the Commission within 6 months of issuance of a temporary license Temporary salesperson licensees must complete the post license course and submit application for an original salesperson's license within? If this requirement is not met, the temporary license expires and is placed on inactive status.