Alabama Reciprocal Study Guide Exam Questions With Complete Solutions

Alabama Reciprocal Study Guide Exam
Questions With Complete Solutions
One purpose of the Alabama Real Estate License law is to regulate commission rates
charged by licencees. True or False - CORRECT ANSWER-False



The Alabama Real Estate Commission is composed of how many members -
CORRECT ANSWER-9



How many members of Alabama Real Estate Commission are required to have 10
years experience as a real estate licensee? - CORRECT ANSWER-8



A consumer member of the Alabama Real Estate Commission must - CORRECT
ANSWER-own real estate



The members of the Commission are appointed by the - CORRECT ANSWER-governor



The members of the Commission are confirmed by - CORRECT ANSWER-the senate



Members of the Alabama Real Estate Commission serve a term of - CORRECT
ANSWER-5 years



The executive director of the Real Estate Commission is - CORRECT ANSWER-
employed by the commission



The money that the AREC operates comes from who? - CORRECT ANSWER-Almost
entirely from fees

,the fees collected by the Alabama Real Estate Commission must be deposited -
CORRECT ANSWER-with the state treasurer



The AREC Law requires licenses for - CORRECT ANSWER-brokers and salespeople



Someone who receives compensation from a principal for buying, selling, leasing,
renting, exchanging, or optioning real property is a real estate - CORRECT ANSWER-
broker



In order to sell property in Alabama, an individual - CORRECT ANSWER-may
cooperate with an Alabama real estate licensee or have an AL real estate license



The education and examination requirements for licensure as an associate broker are
_____. - CORRECT ANSWER-the same as for a qualifying broker



An associate broker works on behalf of - CORRECT ANSWER-a qualifying broker only



A salesperson works on behalf of - CORRECT ANSWER-a qualifying broker only



The services provided by a licensed salesperson are generally - CORRECT ANSWER-
the same as those performed by a broker



Someone who acts on behalf of a broker to assist in buying, selling, leasing, renting,
exchanging, or optioning real property is a real estate - CORRECT ANSWER-
salesperson or associate broker



A person performing only clerical or administrative tasks for a broker is exempt from
licensing requirements. True or False - CORRECT ANSWER-True

, A person hired by a broker to show the broker's listings must be licensed. True or False
- CORRECT ANSWER-True



A state or federally chartered financial institution acting under a court order is exempt
from licensing requirements. True or False - CORRECT ANSWER-True



When are public officials exempt from real estate licensing requirements? - CORRECT
ANSWER-When conducting official business



A person acting, without compensation, under a duly authorized power of attorney to
carry out a specific real estate transaction - CORRECT ANSWER-is exempt from
licensing requirements



To receive a broker's or salesperson's license in Alabama, a person must be at least
_____ years old. - CORRECT ANSWER-19



To receive an Alabama salesperson's license, a person must successfully complete
prelicense education totaling at least _____ hours. - CORRECT ANSWER-60



To receive an Alabama broker's license, a person must successfully complete
prelicense education totaling at least _____ hours. - CORRECT ANSWER-60



To receive an Alabama broker's license, a person must have been an active real estate
licensee for _____. - CORRECT ANSWER-at least 2 of the previous 3 years



After passing the state exam, an applicant must affiliate with a qualifying broker (or
request that his/her license be placed on inactive status) within _____. - CORRECT
ANSWER-90 days



A temporary license is valid for _____. - CORRECT ANSWER-1 year