ARKANSAS STATE LAW EXAM COSMETOLOGY EXAM
LATEST 2024 ACTUAL EXAM 200 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED ANSWERS)
ALREADY GRADED A
What's the purpose of license law? - answer-To regulate the practice of real estate brokers &
salespersons in order to protect the public health, safety, & welfare. Only individuals who meet and
maintain the minimum standards of competence & conduct may provide service to the public.
Can an "Associate broker" have supervisory authority? - answer-No, they are supervised by PB or
executive broker.
Does an executive broker have to be under supervision? - answer-Yes, by PB
Who may executive broker have supervision over? - answer-Associate brokers & salespersons
To participate in a real estate auction, must the auctioneer and ringman both hold a real estate license?
- answer-Yes
Define "Principal Broker" - answer-Individual expecting to act or act for another for a fee, commission, or
other consideration.
What is a person called working under the Power of Attorney? - answer-Attorney in fact
Can a person working under an official power of attorney receive a fee for selling the person's property
whom they are representing? - answer-No
What is the limitation of an attorney at law performing real estate activities without a license? -
answerPerforming his or her duties as an attorney at law.
For exemption, does a resident manager have to actually live on the property? - answer-Yes
,Can an officer or employee of a federal agency or state government, or any political subdivision buy or
sell property? - answer-Yes, as long as it's in the performance or conduct of their official duties.
Do MLS employees have to have a RE license? - answer-not if they're wholly owned by a nonprofit
organization or association of real estate licenses.
What could a person be charged with for operating without a real estate license when such is required? -
answer-Class D felony
Who would prosecute a violator for operating without a license? - answer-Prosecuting attorney for each
county
In what court would an action for operating without a license be brought? - answer-Circuit court in any
county where it happened
Can a salesperson, executive broker, or associative broker sue the public for compensation? - answerNo,
unless action is against Principal broker with whom he/she is licensed with.
In which real estate transaction must an agent disclose to the parties whom they are representing? -
answer-Every one
How many members make up AREC? - answer-5
Who appoints the commissioners? - answer-Governor
What is the length of the term for Real Estate commissioners? - answer-3 years
3/5 of commissioners must have held a real estate license for a minimum of: - answer-5 years
The governor fills vacancies from a list of 4 nominees submitted by whom? - answer-Arkansas Realtors
Association
, To whom do the two non-industry people on the commission represent? - answer-one represents
consumers, one represents the elderly (60+)
What is the limitation of the two non-industry representatives on the Commission? - answer-- both shall
be appointed from stage at large, subject to confirmation by the senate
- 2 positions can't be held by the same person
- both shall be full voting members, but can't participate in the grading of exams
Who is employed to put into effect the rules and regulations of the Commission? - answer-Executive
director
May the Commission implement rules and regulations to carry out the intent of the law? - answer-yes
What is the limitation of the Commission conducting and paying for a real estate seminar? -
answerreasonable & necessary expenses in connection
Can the Commission make a charge for materials provided by the Commission? - answer-Yes, reasonable
charges
Does the commission have the right to establish procedures for real estate auctions? - answer-Yes
What two licensing agencies must an auctioneer comply with when conducting real estate auctions? -
answer-1. AREC
2. Auctioneer's Licensing Board
Does Commission have power to issue subpoenas? - answer-Yes
What is the subpoena called that requires books, writing, or documents to be produced? -
answerSubpoena duces tecum
LATEST 2024 ACTUAL EXAM 200 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED ANSWERS)
ALREADY GRADED A
What's the purpose of license law? - answer-To regulate the practice of real estate brokers &
salespersons in order to protect the public health, safety, & welfare. Only individuals who meet and
maintain the minimum standards of competence & conduct may provide service to the public.
Can an "Associate broker" have supervisory authority? - answer-No, they are supervised by PB or
executive broker.
Does an executive broker have to be under supervision? - answer-Yes, by PB
Who may executive broker have supervision over? - answer-Associate brokers & salespersons
To participate in a real estate auction, must the auctioneer and ringman both hold a real estate license?
- answer-Yes
Define "Principal Broker" - answer-Individual expecting to act or act for another for a fee, commission, or
other consideration.
What is a person called working under the Power of Attorney? - answer-Attorney in fact
Can a person working under an official power of attorney receive a fee for selling the person's property
whom they are representing? - answer-No
What is the limitation of an attorney at law performing real estate activities without a license? -
answerPerforming his or her duties as an attorney at law.
For exemption, does a resident manager have to actually live on the property? - answer-Yes
,Can an officer or employee of a federal agency or state government, or any political subdivision buy or
sell property? - answer-Yes, as long as it's in the performance or conduct of their official duties.
Do MLS employees have to have a RE license? - answer-not if they're wholly owned by a nonprofit
organization or association of real estate licenses.
What could a person be charged with for operating without a real estate license when such is required? -
answer-Class D felony
Who would prosecute a violator for operating without a license? - answer-Prosecuting attorney for each
county
In what court would an action for operating without a license be brought? - answer-Circuit court in any
county where it happened
Can a salesperson, executive broker, or associative broker sue the public for compensation? - answerNo,
unless action is against Principal broker with whom he/she is licensed with.
In which real estate transaction must an agent disclose to the parties whom they are representing? -
answer-Every one
How many members make up AREC? - answer-5
Who appoints the commissioners? - answer-Governor
What is the length of the term for Real Estate commissioners? - answer-3 years
3/5 of commissioners must have held a real estate license for a minimum of: - answer-5 years
The governor fills vacancies from a list of 4 nominees submitted by whom? - answer-Arkansas Realtors
Association
, To whom do the two non-industry people on the commission represent? - answer-one represents
consumers, one represents the elderly (60+)
What is the limitation of the two non-industry representatives on the Commission? - answer-- both shall
be appointed from stage at large, subject to confirmation by the senate
- 2 positions can't be held by the same person
- both shall be full voting members, but can't participate in the grading of exams
Who is employed to put into effect the rules and regulations of the Commission? - answer-Executive
director
May the Commission implement rules and regulations to carry out the intent of the law? - answer-yes
What is the limitation of the Commission conducting and paying for a real estate seminar? -
answerreasonable & necessary expenses in connection
Can the Commission make a charge for materials provided by the Commission? - answer-Yes, reasonable
charges
Does the commission have the right to establish procedures for real estate auctions? - answer-Yes
What two licensing agencies must an auctioneer comply with when conducting real estate auctions? -
answer-1. AREC
2. Auctioneer's Licensing Board
Does Commission have power to issue subpoenas? - answer-Yes
What is the subpoena called that requires books, writing, or documents to be produced? -
answerSubpoena duces tecum
