8/5/25, 12:51 PM Montana Real Estate Exam Flashcards | Quizlet
Montana Real Estate Exam
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Terms in this set (33)
Act includes a failure to act
Information, in whatever form, used to promote real
property for sale, lease, rent, exchange, or purchase,
or to promote the brokerage or sales services of a
Advertising licensee. However, the dissemination of property data
to an individual prospective buyer or seller at the
individual's request is not considered advertising for
the purpose of these rules.
Those relationships which are defined in sections 37-
Agency or agency 51-102 and 37-51-313 of the Montana Code, and
relationship specifically do not include the common law of
agency.
Agent includes subagent
includes real estate parcels over 40 acres in size,
Agriculture, farm & ranch principally used for or intended for use in the
production of plant or animal crops.
Buy or Buyer includes the term purchase, purchaser, lease, lessee
The period of time following the release of the
salesperson license from the supervising broker, and
Cancellation
prior to transfer of the license to another broker, or
placed on inactive status.
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, 8/5/25, 12:51 PM Montana Real Estate Exam Flashcards | Quizlet
A transaction in which parties have performed all
Closed transaction duties in the agreement. In the case of a lease, it
would be at the signing of the lease.
real estate that is principally used for or intended for
use in the production, distribution, or sale of goods or
Commercial property
services, and any real estate which has over four
residential units when transferred as a group of units.
A board-approved entity that is responsible to the
Course provider board for the administration of approved education
courses in accordance with board laws and rules.
Z broker, who has been designated by other brokers
of a real estate brokerage company to be the broker
Designated broker
with the authority for the maintenance of a trust
account, if any.
A course or courses in which the instruction does not
take place in a traditional classroom setting, but
Distance education rather, through other media where the teacher and
student are separated by distance and sometimes by
time.
Electronic records may include checks or bank statements
A listing in which the seller and the seller's agent have
Entry-only listing agreed to limit the seller's agent's involvement in the
transaction process.
of education is equal to 50 minutes of instructional
hour
time
as used in Administrative Rule 24.210.601 means being
in a condition as a result of accident or illness that
renders the person wholly incapable of conducting
Incapacity
the business of a supervising broker. A voluntary or
anticipated incapacity or an extended absence from
the supervising broker's office is not incapacity.
https://quizlet.com/1064003206/montana-real-estate-exam-flash-cards/?new 2/5
Montana Real Estate Exam
Save
Terms in this set (33)
Act includes a failure to act
Information, in whatever form, used to promote real
property for sale, lease, rent, exchange, or purchase,
or to promote the brokerage or sales services of a
Advertising licensee. However, the dissemination of property data
to an individual prospective buyer or seller at the
individual's request is not considered advertising for
the purpose of these rules.
Those relationships which are defined in sections 37-
Agency or agency 51-102 and 37-51-313 of the Montana Code, and
relationship specifically do not include the common law of
agency.
Agent includes subagent
includes real estate parcels over 40 acres in size,
Agriculture, farm & ranch principally used for or intended for use in the
production of plant or animal crops.
Buy or Buyer includes the term purchase, purchaser, lease, lessee
The period of time following the release of the
salesperson license from the supervising broker, and
Cancellation
prior to transfer of the license to another broker, or
placed on inactive status.
https://quizlet.com/1064003206/montana-real-estate-exam-flash-cards/?new 1/5
, 8/5/25, 12:51 PM Montana Real Estate Exam Flashcards | Quizlet
A transaction in which parties have performed all
Closed transaction duties in the agreement. In the case of a lease, it
would be at the signing of the lease.
real estate that is principally used for or intended for
use in the production, distribution, or sale of goods or
Commercial property
services, and any real estate which has over four
residential units when transferred as a group of units.
A board-approved entity that is responsible to the
Course provider board for the administration of approved education
courses in accordance with board laws and rules.
Z broker, who has been designated by other brokers
of a real estate brokerage company to be the broker
Designated broker
with the authority for the maintenance of a trust
account, if any.
A course or courses in which the instruction does not
take place in a traditional classroom setting, but
Distance education rather, through other media where the teacher and
student are separated by distance and sometimes by
time.
Electronic records may include checks or bank statements
A listing in which the seller and the seller's agent have
Entry-only listing agreed to limit the seller's agent's involvement in the
transaction process.
of education is equal to 50 minutes of instructional
hour
time
as used in Administrative Rule 24.210.601 means being
in a condition as a result of accident or illness that
renders the person wholly incapable of conducting
Incapacity
the business of a supervising broker. A voluntary or
anticipated incapacity or an extended absence from
the supervising broker's office is not incapacity.
https://quizlet.com/1064003206/montana-real-estate-exam-flash-cards/?new 2/5
