Montana Law - state portion of exam
Questions and answers | Latest 2024/25
RATED A+
As the listing agent, what is the dollar amount of the fine for violating an offerors
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confidentiality? - Correct Answers $100-$500 for a first time violator
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$500-$2,000 for a subsequent violation II II II II II
**Note** $1,000 is a false option on the exam. DO NOT fall for it.
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Before you place a "For Sale" sign or advertise a property, what must you first do? -
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Correct Answers Obtain the listing!
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Can a licensee perform an appraisal? - Correct Answers NO! but they can do an
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informal comparative market analysis, competitive market analysis or a Broker Price
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Opinion.
II
How many members are in on the Board of Realty Regulation, who appoints them, and
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where are they located? - Correct Answers 7 persons, the Governor, Helena
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The boards rules are laws, what is the charge for violating them? - Correct Answers A
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misdemeanor offense, but not a felony.
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What is comingling and why is it important to avoid? - Correct Answers Mixing trust
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account funds with the Broker's personal funds. The broker is allowed, however, to keep
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up to $1,000 personal funds in the trust account with the purpose of paying bank fees (so
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the bank fees won't be charges to the client's funds). The reason for prohibiting
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commingling in the trust account is to protect the funds from the broker's creditors.
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What is the Agency Relationship Disclosure Form and when must it be submitted to the
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appropriate parties? - Correct Answers This form must be presented to each party
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disclosing whom the agent is representing before negotiations commence (vague), but as
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early as possible.
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What is the magic number for most of the TQ's in the state portion of the exam? - Correct
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Answers 10.
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A salesperson whose supervising broker dies, is disabled (no longer licensed) and they
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MUST notify the board within 10 days.
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Questions and answers | Latest 2024/25
RATED A+
As the listing agent, what is the dollar amount of the fine for violating an offerors
II II II II II II II II II II II II II II II
confidentiality? - Correct Answers $100-$500 for a first time violator
II II II II II II II II II II II II II
$500-$2,000 for a subsequent violation II II II II II
**Note** $1,000 is a false option on the exam. DO NOT fall for it.
II II II II II II II II II II II II II
Before you place a "For Sale" sign or advertise a property, what must you first do? -
II II II II II II II II II II II II II II II II II II
Correct Answers Obtain the listing!
II II II II II II II
Can a licensee perform an appraisal? - Correct Answers NO! but they can do an
II II II II II II II II II II II II II II II II II II
informal comparative market analysis, competitive market analysis or a Broker Price
II II II II II II II II II II II
Opinion.
II
How many members are in on the Board of Realty Regulation, who appoints them, and
II II II II II II II II II II II II II II II
where are they located? - Correct Answers 7 persons, the Governor, Helena
II II II II II II II II II II II II II II II
The boards rules are laws, what is the charge for violating them? - Correct Answers A
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misdemeanor offense, but not a felony.
II II II II II II
What is comingling and why is it important to avoid? - Correct Answers Mixing trust
II II II II II II II II II II II II II II II II II II
account funds with the Broker's personal funds. The broker is allowed, however, to keep
II II II II II II II II II II II II II II
up to $1,000 personal funds in the trust account with the purpose of paying bank fees (so
II II II II II II II II II II II II II II II II II
the bank fees won't be charges to the client's funds). The reason for prohibiting
II II II II II II II II II II II II II II
commingling in the trust account is to protect the funds from the broker's creditors.
II II II II II II II II II II II II II II
What is the Agency Relationship Disclosure Form and when must it be submitted to the
II II II II II II II II II II II II II II II
appropriate parties? - Correct Answers This form must be presented to each party
II II II II II II II II II II II II II II II II
disclosing whom the agent is representing before negotiations commence (vague), but as
II II II II II II II II II II II II
early as possible.
II II II
What is the magic number for most of the TQ's in the state portion of the exam? - Correct
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Answers 10.
II II II II
A salesperson whose supervising broker dies, is disabled (no longer licensed) and they
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MUST notify the board within 10 days.
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