Arkansas Real Estate Broker Exam
questions and answers 100% guaranteed
success.
Maximum amount due for a filing fee of a time share interval project - correct answer.
$1,000
Time share annual renewal fee - correct answer. $500
A timeshare developer found guilty of a timeshare law in fraction can be fined up to
imprisoned for how long - correct answer. $5000 and one year
Real estate sales person's license expire when - correct answer. December 31 of each
year
Who is generally responsible for ensuring that the closing is handled in exact
accordance with the contract - correct answer. Principal broker
Who makes and enforces the rules by which our real estate licensees must abide -
correct answer. Arkansas real estate commission
The Arkansas real estate commission members are designated by - correct answer. The
governor and subject to confirmation by the senate
All earnest money funds received by a broker on behalf of her principal must be
deposited into an escrow a trust account within - correct answer. With in three days of the
contract being signed
, A 3resident 3managers 3exempt 3from 3real 3estate 3licensing 3requirements 3- 3 correct 3answer.
3Yes
If 3found 3guilty 3of 3a 3timeshare 3violation, 3the 3developer 3or 3agent 3can 3be 3charged 3with 3-
3correct 3answer. 3 A 3misdemeanor
Earnest 3money 3received 3another 3companies 3listing 3should 3be 3- 3 correct 3answer.
3Forwarded 3to 3the 3listing 3company
Paying 3a 3commission 3or 3any 3valuable 3consideration 3to 3any 3unlicensed 3person 3for 3acts 3or
3services 3performed 3- 3 correct 3answer. 3 Is 3a 3violation 3and 3is 3punishable 3by 3suspension,
3revocation, 3or 3demotion 3of 3the 3licensee
A 3broker's 3price 3opinion 3cannot 3contain 3the 3following 3words 3- 3 correct 3answer. 3 Market
3value, 3appraisal, 3appraised 3value
The 3Arkansas 3real 3estate 3commission 3has 3how 3many 3members 3- 3 correct 3answer. 3 Five,
33 3year 3terms, 3designated 3by 3the 3governor 3and 3confirmed 3by 3the 3Senate
What 3is 3the 3make 3up 3of 3the 3AREC 3board 3- 3 correct 3answer. 3 3 3license 3real 3estate
3brokers/salespersons 3who 3have 3been 3licensed 3for 3more 3than 3five 3years
2 3members 3are 3not 3actively 3engaged 3in 3realestate, 31 3representing 3consumers, 31 3older
3than 360 3representing 3the 3elderly
How 3long 3does 3a 3salesperson 3have 3to 3wait 3to 3reapply 3for 3licensing 3after 3his 3license
3has 3been 3revoked 3- 3 correct 3answer. 3 Two 3years
Upon 3termination 3of 3employment 3a 3licensee 3must 3give 3his 3pocket 3card 3to 3- 3 correct
3answer. 3 The 3principal 3broker
If 3a 3complaint 3disagrees 3with 3the 3director 3of 3the 3commissions 3dismissal 3of 3a 3written
3complaint 3- 3 correct 3answer. 3 Submit 3a 3request 3in 3writing, 3along 3with 3the 3filing 3fee, 3to 3a
3obtain 3a 3determination 3from 3the 3entire 3AREC
Any 3person 3who 3acts 3as 3a 3real 3property 3auctioneer 3must 3- 3 correct 3answer. 3 Have 3his
3auctioneers 3license 3endorsed 3by 3the 3AREC
What 3are 3the 3types 3of 3agency 3relationships 3in 3Arkansas 3- 3 correct 3answer. 3 Seller, 3buyer,
3and 3disclosed 3dual
When 3must 3agency 3representation 3be 3disclosed 3to 3listing 3brokers 3by 3buying 3brokers 3-
3correct 3answer. 3 In 3a 3timely 3manner 3under 3the 3particular 3circumstances
A 3salesperson 3is 3convicted 3of 3violating 3an 3a 3AREC 3regulation 3must 3notify 3the 3AREC.... 3-
3correct 3answer. 3 In 3writing 3within 330 3days 3of 3the 3violation
questions and answers 100% guaranteed
success.
Maximum amount due for a filing fee of a time share interval project - correct answer.
$1,000
Time share annual renewal fee - correct answer. $500
A timeshare developer found guilty of a timeshare law in fraction can be fined up to
imprisoned for how long - correct answer. $5000 and one year
Real estate sales person's license expire when - correct answer. December 31 of each
year
Who is generally responsible for ensuring that the closing is handled in exact
accordance with the contract - correct answer. Principal broker
Who makes and enforces the rules by which our real estate licensees must abide -
correct answer. Arkansas real estate commission
The Arkansas real estate commission members are designated by - correct answer. The
governor and subject to confirmation by the senate
All earnest money funds received by a broker on behalf of her principal must be
deposited into an escrow a trust account within - correct answer. With in three days of the
contract being signed
, A 3resident 3managers 3exempt 3from 3real 3estate 3licensing 3requirements 3- 3 correct 3answer.
3Yes
If 3found 3guilty 3of 3a 3timeshare 3violation, 3the 3developer 3or 3agent 3can 3be 3charged 3with 3-
3correct 3answer. 3 A 3misdemeanor
Earnest 3money 3received 3another 3companies 3listing 3should 3be 3- 3 correct 3answer.
3Forwarded 3to 3the 3listing 3company
Paying 3a 3commission 3or 3any 3valuable 3consideration 3to 3any 3unlicensed 3person 3for 3acts 3or
3services 3performed 3- 3 correct 3answer. 3 Is 3a 3violation 3and 3is 3punishable 3by 3suspension,
3revocation, 3or 3demotion 3of 3the 3licensee
A 3broker's 3price 3opinion 3cannot 3contain 3the 3following 3words 3- 3 correct 3answer. 3 Market
3value, 3appraisal, 3appraised 3value
The 3Arkansas 3real 3estate 3commission 3has 3how 3many 3members 3- 3 correct 3answer. 3 Five,
33 3year 3terms, 3designated 3by 3the 3governor 3and 3confirmed 3by 3the 3Senate
What 3is 3the 3make 3up 3of 3the 3AREC 3board 3- 3 correct 3answer. 3 3 3license 3real 3estate
3brokers/salespersons 3who 3have 3been 3licensed 3for 3more 3than 3five 3years
2 3members 3are 3not 3actively 3engaged 3in 3realestate, 31 3representing 3consumers, 31 3older
3than 360 3representing 3the 3elderly
How 3long 3does 3a 3salesperson 3have 3to 3wait 3to 3reapply 3for 3licensing 3after 3his 3license
3has 3been 3revoked 3- 3 correct 3answer. 3 Two 3years
Upon 3termination 3of 3employment 3a 3licensee 3must 3give 3his 3pocket 3card 3to 3- 3 correct
3answer. 3 The 3principal 3broker
If 3a 3complaint 3disagrees 3with 3the 3director 3of 3the 3commissions 3dismissal 3of 3a 3written
3complaint 3- 3 correct 3answer. 3 Submit 3a 3request 3in 3writing, 3along 3with 3the 3filing 3fee, 3to 3a
3obtain 3a 3determination 3from 3the 3entire 3AREC
Any 3person 3who 3acts 3as 3a 3real 3property 3auctioneer 3must 3- 3 correct 3answer. 3 Have 3his
3auctioneers 3license 3endorsed 3by 3the 3AREC
What 3are 3the 3types 3of 3agency 3relationships 3in 3Arkansas 3- 3 correct 3answer. 3 Seller, 3buyer,
3and 3disclosed 3dual
When 3must 3agency 3representation 3be 3disclosed 3to 3listing 3brokers 3by 3buying 3brokers 3-
3correct 3answer. 3 In 3a 3timely 3manner 3under 3the 3particular 3circumstances
A 3salesperson 3is 3convicted 3of 3violating 3an 3a 3AREC 3regulation 3must 3notify 3the 3AREC.... 3-
3correct 3answer. 3 In 3writing 3within 330 3days 3of 3the 3violation
