ALABAMA REAL ESTATE LICENSE LAW 2026/2027 || VERIFIED QUESTIONS &
ANSWERS || HIGH-YIELD REAL ESTATE LAW REVIEW || RULES, REGULATIONS,
COMPLIANCE & ETHICS || COMPLETE STUDY GUIDE || EXAM-READY TEST BANK
|| GRADED A+
15 days - CORRECT ANSWER - AREC must give __?____ days notice of the
hearing?
30 days - CORRECT ANSWER - How many days does AREC have to give
before their decision is stated?
30 days - CORRECT ANSWER - Following a hearing, How many days does
the licensee have to decide if they will accept the decision of AREC or appeal
it?
Estimated closing statement - CORRECT ANSWER - Net sheet--must be
provided to the principal the licensee represents/assists with each offer or
counteroffer
Immediately - CORRECT ANSWER - When should any cash funds be
deposited by?
Commission and public - CORRECT ANSWER - A qualifying broker shall
be held responsible to the _________&____________ for all acts of each
salesperson and associate broker licensed under them
Qualifying Broker - CORRECT ANSWER - Individual whose primary
business is real estate and who supervises all licensees in a brokerage and who
must be a signatory on all trust accounts
,7 days - CORRECT ANSWER - Each qualifying broker shall promptly
disburse to the appropriate party any trust monies owed within _______ days
of the consummation of the transaction for which the funds were deposited.
10 days - CORRECT ANSWER - Whenever an Alabama broker enters into
an agreement with a non-resident broker to engage in activities requiring a
real estate license in AL, he must file a copy of the written agreement with the
Commission within _________ days.
name - CORRECT ANSWER - In all advertising of RE located in AL the
_______ of the AL broker shall appear
offers the same privileges to licensees of this state - CORRECT ANSWER - A
licensed broker of another state may act as a co-broker with a licensed broker
of this state by written agreement specifying each parcel of property covered,
if the state in which the non-resident broker is licensed _____________.
1) 10 days 2) copy of the agreement - CORRECT ANSWER - Whenever an
AL broker enters into a co-broker agreement with a non-resident broker to
perform in AL the AL broker shall file within ________days. What shall be
filed with the commission?
Does not need a license - CORRECT ANSWER - Does this person need to be
licensed - Person acting without compensation and in good faith under a duly
executed power of attorney authorizing the consummation of a RE
transaction
license period - CORRECT ANSWER - The period of time beginning on Oct
1 on a year designated by the commission to be the first year of a licensing
period and ending on midnight Sept 30 of the year designated by commission
as the final year of that licensing period
, 1)residence 2) Aug 1 - CORRECT ANSWER - License renewal forms will be
mailed to place of business if for an active license or ________ if inactive prior
to ________ of the final year of license period
terminates - CORRECT ANSWER - Upon issuance of their broker's license
certificate the licensed salesperson's license automatically ____________ upon
issuance of their brokers certificate
One who does auction is required. the ground men are not required to be
licensed. - CORRECT ANSWER - In a RE auction who is/is not required to
be licensed?
does not need to be licensed - CORRECT ANSWER - Does a person acting as
the manager for an apartment building complex need to be licensed?
15 days - CORRECT ANSWER - Anyone whose application is not deemed
acceptable may request a hearing before the commission. The person has
______days to request a hearing.
1) business
2) rural area may operate a sole proprietorship from home.Must have a
separate business phone, entrance & be properly identified
3) handicapped broker- regardless of zoning can do the same as above -
CORRECT ANSWER - The primary requirement is that a RE office be
located in an area zoned for ________. There are 2 exceptions. What are they?
NO - CORRECT ANSWER - Does an owner in the managing or other RE
transaction involving their own RE of that of a spouse, child, or parent have
to hold a RE license?
ANSWERS || HIGH-YIELD REAL ESTATE LAW REVIEW || RULES, REGULATIONS,
COMPLIANCE & ETHICS || COMPLETE STUDY GUIDE || EXAM-READY TEST BANK
|| GRADED A+
15 days - CORRECT ANSWER - AREC must give __?____ days notice of the
hearing?
30 days - CORRECT ANSWER - How many days does AREC have to give
before their decision is stated?
30 days - CORRECT ANSWER - Following a hearing, How many days does
the licensee have to decide if they will accept the decision of AREC or appeal
it?
Estimated closing statement - CORRECT ANSWER - Net sheet--must be
provided to the principal the licensee represents/assists with each offer or
counteroffer
Immediately - CORRECT ANSWER - When should any cash funds be
deposited by?
Commission and public - CORRECT ANSWER - A qualifying broker shall
be held responsible to the _________&____________ for all acts of each
salesperson and associate broker licensed under them
Qualifying Broker - CORRECT ANSWER - Individual whose primary
business is real estate and who supervises all licensees in a brokerage and who
must be a signatory on all trust accounts
,7 days - CORRECT ANSWER - Each qualifying broker shall promptly
disburse to the appropriate party any trust monies owed within _______ days
of the consummation of the transaction for which the funds were deposited.
10 days - CORRECT ANSWER - Whenever an Alabama broker enters into
an agreement with a non-resident broker to engage in activities requiring a
real estate license in AL, he must file a copy of the written agreement with the
Commission within _________ days.
name - CORRECT ANSWER - In all advertising of RE located in AL the
_______ of the AL broker shall appear
offers the same privileges to licensees of this state - CORRECT ANSWER - A
licensed broker of another state may act as a co-broker with a licensed broker
of this state by written agreement specifying each parcel of property covered,
if the state in which the non-resident broker is licensed _____________.
1) 10 days 2) copy of the agreement - CORRECT ANSWER - Whenever an
AL broker enters into a co-broker agreement with a non-resident broker to
perform in AL the AL broker shall file within ________days. What shall be
filed with the commission?
Does not need a license - CORRECT ANSWER - Does this person need to be
licensed - Person acting without compensation and in good faith under a duly
executed power of attorney authorizing the consummation of a RE
transaction
license period - CORRECT ANSWER - The period of time beginning on Oct
1 on a year designated by the commission to be the first year of a licensing
period and ending on midnight Sept 30 of the year designated by commission
as the final year of that licensing period
, 1)residence 2) Aug 1 - CORRECT ANSWER - License renewal forms will be
mailed to place of business if for an active license or ________ if inactive prior
to ________ of the final year of license period
terminates - CORRECT ANSWER - Upon issuance of their broker's license
certificate the licensed salesperson's license automatically ____________ upon
issuance of their brokers certificate
One who does auction is required. the ground men are not required to be
licensed. - CORRECT ANSWER - In a RE auction who is/is not required to
be licensed?
does not need to be licensed - CORRECT ANSWER - Does a person acting as
the manager for an apartment building complex need to be licensed?
15 days - CORRECT ANSWER - Anyone whose application is not deemed
acceptable may request a hearing before the commission. The person has
______days to request a hearing.
1) business
2) rural area may operate a sole proprietorship from home.Must have a
separate business phone, entrance & be properly identified
3) handicapped broker- regardless of zoning can do the same as above -
CORRECT ANSWER - The primary requirement is that a RE office be
located in an area zoned for ________. There are 2 exceptions. What are they?
NO - CORRECT ANSWER - Does an owner in the managing or other RE
transaction involving their own RE of that of a spouse, child, or parent have
to hold a RE license?
