Arkansas Real Estate Exam / Questions with
Certified Solutions.
Terms in this set (350)
principal broker an individual who performs certain real estate services for
another party for compensation.
ultimately responsible for the company's activities, notably
the activities of other licensees as well as the business's trust
accounts.
real estate duties not Delivery of a lease application or lease.
requiring license Receiving a lease or lease application for delivery to the
principal broker, real estate firm, or owner. Receiving a
security deposit, rent payment or related payment for
delivery to the principal broker, real estate firm, or owner.
Acting under the direct written instructions of the principal
broker, firm or owner in:
Showing a rental unit.
Assisting in the execution of a preprinted lease or rental
agreement containing pre-established terms. Conveying
information regarding a lease transaction prepared by the
principal broker, firm, or owner to any person.
a licensed broker employed and supervised by a principal
broker as an employee or independent contractor who can
executive broker perform real estate services under the auspices of the
principal broker, but who also has the authority to supervise
associate brokers and salespersons.
,associate broker licensed broker who, as an employee or independent
contractor, may perform real estate services under the
supervision of a principal broker or executive broker. The
associate broker may not supervise any other licensee
to qualify for a Arkansas Be of majority age (18 years old).
license Satisfy educational requirements.
Satisfy experience requirements.
Pass the appropriate licensing examination.
Demonstrate a record of professional conduct. Provide
evidence of honesty, trustworthiness and integrity.
Complete a criminal history background check.
Pay the appropriate fees.
requirement for brokers 60 classroom hours in real estate within a 3-year period
license prior to the date of application, documented by the
approved school or other satisfactory evidence
Two years experience as a licensed Arkansas salesperson, or
salesperson or broker from another state, within the four-
year period preceding the date of application
application procedure for for documentation evidencing fulfillment of the
initial licensure requirements previously identified concerning
education, experience, character, age, etc submit
payment for the non-refundable application fee as well
as the license examination fee.
requested the criminal background check may then take the
license examination
invalidate the results of Applicants who pass the exam must pay the license fee and
exam and applicant must Real Estate Recovery Fund fee within 90 days from the date
reapply an retest of the examination. Failure to pay these fees will:
,90 days following exam date Upon successful completion of the examination, the
applicant must submit the proper forms and fees to the
Commission no later than
a six-month extension if an applicant fails one of the sections of the exam, he or
she is granted a _____ re-take and pass the failed portion.
misses deadline he or she must re-take the entire exam.
if the examinee waits more he or she must re-take the exam and re-apply for the license.
than one year
exempt from general portion They passed the general portion in another state, subject to
of exam if: Commission approval; and
The passing grade for such section is no lower; and The
examinee is licensed in another state at the time he or she
takes the Arkansas exam.
requirements for nonresident Meet the same requirements as residents; or follow
licensure are: commissions non-resident regulations and meet requirements
such as Affiliate with a resident or nonresident principal broker
licensed by the Commission etc.
If a resident or nonresident the person's license is terminated until such time as a re-
licensee terminates affiliation affiliation occurs with another principal broker and the
with a principal briker nonresident/resident places his or her license on inactive
status.
December 31 All Arkansas real estate licenses, active or inactive, expire
on___ even in the initial year of licensure
september 30 The deadline for renewing the license without paying additional fees
90 prior to expiration the Commission will issue a renewed license upon receipt of
the application no later than
Inactive licensees must notify the Commission of any change in
7 days
name or address within
, To activate an inactive must complete 6 hours of CE for every year the licensee was
license inactive, up to a total of 30 hours.
If a license has been expired the reactivation requirement will be the same as a new applicant.
in excess of 3 years
to reactivate an expired submit a renewal application, pay the appropriate fee, and
license satisfy continuing education and any other requirements
On or about July 15th the Commission sends licensees notice to renew licenses for
the upcoming year.
in a specific topic identified At least one hour of the 6-hour requirement will be
by the
Commission
the first partial year, nor the New licensees are not required to complete the CE requirement in:
following full year of
licensure
At least one hour of the will be in a specific topic identified by the Commission
6hour requirement (courses may not be taken twice to meet the requirement)
courses exempt from SBPCE Courses offered by Realtor Associations or affiliated councils.
approval are: Courses approved by the Commission.
3+-hour real estate-related courses offered by universities or
colleges.
new salesperson complete 18-hour AREC Post-license course w/in one year
requirement: following the end of the month of the date of the issuance of
the initial license
complete 30-hour broker course w/in 1 year following the
end of the month of the date of the issuance of the initial
new broker requirement license. if the broker had completed the SP's post-license
course w/in 3 yrs prior to date of licensure, need only take
an additional 12-hour course
Certified Solutions.
Terms in this set (350)
principal broker an individual who performs certain real estate services for
another party for compensation.
ultimately responsible for the company's activities, notably
the activities of other licensees as well as the business's trust
accounts.
real estate duties not Delivery of a lease application or lease.
requiring license Receiving a lease or lease application for delivery to the
principal broker, real estate firm, or owner. Receiving a
security deposit, rent payment or related payment for
delivery to the principal broker, real estate firm, or owner.
Acting under the direct written instructions of the principal
broker, firm or owner in:
Showing a rental unit.
Assisting in the execution of a preprinted lease or rental
agreement containing pre-established terms. Conveying
information regarding a lease transaction prepared by the
principal broker, firm, or owner to any person.
a licensed broker employed and supervised by a principal
broker as an employee or independent contractor who can
executive broker perform real estate services under the auspices of the
principal broker, but who also has the authority to supervise
associate brokers and salespersons.
,associate broker licensed broker who, as an employee or independent
contractor, may perform real estate services under the
supervision of a principal broker or executive broker. The
associate broker may not supervise any other licensee
to qualify for a Arkansas Be of majority age (18 years old).
license Satisfy educational requirements.
Satisfy experience requirements.
Pass the appropriate licensing examination.
Demonstrate a record of professional conduct. Provide
evidence of honesty, trustworthiness and integrity.
Complete a criminal history background check.
Pay the appropriate fees.
requirement for brokers 60 classroom hours in real estate within a 3-year period
license prior to the date of application, documented by the
approved school or other satisfactory evidence
Two years experience as a licensed Arkansas salesperson, or
salesperson or broker from another state, within the four-
year period preceding the date of application
application procedure for for documentation evidencing fulfillment of the
initial licensure requirements previously identified concerning
education, experience, character, age, etc submit
payment for the non-refundable application fee as well
as the license examination fee.
requested the criminal background check may then take the
license examination
invalidate the results of Applicants who pass the exam must pay the license fee and
exam and applicant must Real Estate Recovery Fund fee within 90 days from the date
reapply an retest of the examination. Failure to pay these fees will:
,90 days following exam date Upon successful completion of the examination, the
applicant must submit the proper forms and fees to the
Commission no later than
a six-month extension if an applicant fails one of the sections of the exam, he or
she is granted a _____ re-take and pass the failed portion.
misses deadline he or she must re-take the entire exam.
if the examinee waits more he or she must re-take the exam and re-apply for the license.
than one year
exempt from general portion They passed the general portion in another state, subject to
of exam if: Commission approval; and
The passing grade for such section is no lower; and The
examinee is licensed in another state at the time he or she
takes the Arkansas exam.
requirements for nonresident Meet the same requirements as residents; or follow
licensure are: commissions non-resident regulations and meet requirements
such as Affiliate with a resident or nonresident principal broker
licensed by the Commission etc.
If a resident or nonresident the person's license is terminated until such time as a re-
licensee terminates affiliation affiliation occurs with another principal broker and the
with a principal briker nonresident/resident places his or her license on inactive
status.
December 31 All Arkansas real estate licenses, active or inactive, expire
on___ even in the initial year of licensure
september 30 The deadline for renewing the license without paying additional fees
90 prior to expiration the Commission will issue a renewed license upon receipt of
the application no later than
Inactive licensees must notify the Commission of any change in
7 days
name or address within
, To activate an inactive must complete 6 hours of CE for every year the licensee was
license inactive, up to a total of 30 hours.
If a license has been expired the reactivation requirement will be the same as a new applicant.
in excess of 3 years
to reactivate an expired submit a renewal application, pay the appropriate fee, and
license satisfy continuing education and any other requirements
On or about July 15th the Commission sends licensees notice to renew licenses for
the upcoming year.
in a specific topic identified At least one hour of the 6-hour requirement will be
by the
Commission
the first partial year, nor the New licensees are not required to complete the CE requirement in:
following full year of
licensure
At least one hour of the will be in a specific topic identified by the Commission
6hour requirement (courses may not be taken twice to meet the requirement)
courses exempt from SBPCE Courses offered by Realtor Associations or affiliated councils.
approval are: Courses approved by the Commission.
3+-hour real estate-related courses offered by universities or
colleges.
new salesperson complete 18-hour AREC Post-license course w/in one year
requirement: following the end of the month of the date of the issuance of
the initial license
complete 30-hour broker course w/in 1 year following the
end of the month of the date of the issuance of the initial
new broker requirement license. if the broker had completed the SP's post-license
course w/in 3 yrs prior to date of licensure, need only take
an additional 12-hour course
