ARKANSAS REAL ESTATE EXAM PREP QUESTIONS AND ANSWERS

The memhbers of the AREC are Appointed by the governor of the state of Arkansas Who investigates and disciplines real estate licensees who have violated real estate licensing laws and regulations? The AREC(ARKANSAS REAL ESTATE COMMISSION if THE arec finds AN UNLICENSED INDIVIDUAL HAS BEEN LISTING A PROPERTY FOR A FEE, THE COMMISSIONERS MAY... IMPOSE A CIVIL PENALTY OF NO MORE THAN $5K ADN MAY REQUIRE REIMBURSEMENT OF ALL COMPENSATION The term of an AREC commissioner appointment is how many years? Three years Thye mission of the AREC is to Protect the public health, safety and welfare Who may insitute criminal proceedings against a person practicing real estate without a license in Arkansas? Any licensed person residing in the state of Arkansas Bo holds an active associate broker's license in Arkansas. Bo may supervise who? No other licensee, including himself Under what circumstances would an unlicensed office manager be allowed to show a rental unit to a prospective tenant in a property managed by the office manager employer, a principal broker? When under written instructions from the owner The AREC executive director may NOT exercise rule-making and adjudicative powers Three of the AREC members must have been licensed in Arkansas for the last 5 years The Investigations section of the AREC is responsible for investigating complaints from consumers for alleged violations of the Real estate education law, time share law and real estate license law All members of the AREC are Confirmed by the Senate The arkansas license law allows all licenses to perform all function proper to a principal broker except Exercising supervisory authority and responsibility