ARKANSAS REAL ESTATE STATE
EXAM PREP QUESTIONS &
ANSWERS(RATED A+)
Commission meetings:
a. Are whenever possible
b. Are on the first Monday following the second Tuesday of every month
c. Can be called by a majority
d. Are twice a year at a time designated by the commission - ANSWERC. Can be
called by a majority
Meetings of the commission are held:
a. At the commission's office
b. At the board room
c. In private
d. At a public facility - ANSWERA. At the commission's office
An appearance before the commission:
a. Is mandatory if subpoenaed
b. Is required of all agents
c. Is subject to expenses
d. Must be accompanied by the broker - ANSWERa. Is mandatory if subpoenaed
All agendas of the commission are:
a. Prepared by the commissioner
b. Subject to board approval
c. Given with at least 5 days notice
d. Allotted approximate time intervals - ANSWERd. Allotted approximate time
intervals
Salaries of the employees of the commission are:
a. Fixed by the Governor
b. Voted on by the public
c. Fixed by the director
d. Subject to inflationary increases - ANSWERc. Fixed by the director
Serving a subpoena is the responsibility of:
a. The commission
b. The Director
c. The State Marshall
d. The person requesting it - ANSWERd. The person requesting it
The Duties of the Director of the commission are:
a. Unlimited
b. Controlled
,c. Irrevocable
d. Voidable - ANSWERb. Controlled
All of the following are false except:
a. The annual renewal broker license fee is $75.00
b. The transfer fee is $35.00
c. The original salesperson license fee is $60.00
d. The appeal-filing fees $100.00 - ANSWERd. The appeal-filing fees $100.00
If a bank dishonors a broker or salesperson's check it can be:
a. Charged a fee of $30.00
b. Collected from the principal broker
c. Taken out of the Real estate recovery Fund
d. Required to be made good within a "reasonable amount" of time - ANSWERb.
Collected from the principal broker
If a salesperson overpays on a check to the commission:
a. The excess must be entirely and promptly refunded
b. The commission may keep a portion for its own use
c. It may be declared void and returned to the check writer
d. The Commission is not obligated to return any of it. - ANSWERb. The commission
may keep a portion for its own use
In regards to educational credit:
a. Prelicensure courses can apply to C.E. credit
b. C.E. credit can apply to Prelicensure requirements
c. Both a & b
d. Neither a nor b - ANSWERd. Neither a nor b
The name of a real estate firm:
a. Must have the words "real estate" in it
b. Must be registered with the board
c. May need approval
d. Is subject to no restrictions - ANSWERc. May need approval
A temporary license:
a. Can be issued by the board in some cases
b. Is valid for 60 days
c. Is granted upon submission of application
d. Expires at the end of 30 days - ANSWERd. Expires at the end of 30 days
An out of state applicant whose state license does not offer Arkansas Licenses
opportunities comparable. to Arkansas:
a. May ask for a hearing before the commission
b. May be licensed after taking all classroom requirements, testing and paying all
fees
c. Must be a resident of Arkansas to get a license
d. May take only the Arkansas Law portion of the exam - ANSWERb. May be
licensed after taking all classroom requirements, testing and paying all fees
, In general an application to renew a real estate license received by the commission
after September 30th:
a. Will be returned
b. Will be treated as an expired license
c. Will be revoked
d. Will be processed because of the grace period - ANSWERb. Will be treated as an
expired license
The commission may process an application without penalty received on October
2nd because:
a. There is a 5-day grace period
b. The applicant has a documented reason
c. There were holidays
d. The commission sets the date manually - ANSWERc. There were holidays
An agent places their license on inactive status on December 15, 2001. They can
reactivate their license without testing if they apply by:
a. December 15, 2003
b. December 31, 2004
c. December 31, 2003
d. December 15, 2004 - ANSWERb. December 31, 2004
To reinstate an expired license:
a. A test must be taken
b. Proof of non-activity in real estate must be given
c. A fee must be paid
d. All of the above - ANSWERc. A fee must be paid
Signs require all of the following EXCEPT:
a. Be placed on a window ledge, easily viewed from the street
b. Have the words "Real Estate, Realtor," or other identifying words included
c. A picture of the building front with sign must be submitted
d. If in an office building, must appear on the directory - ANSWERa. Be placed on a
window ledge, easily viewed from the street
A branch office is NOT:
a. Where records are kept
b. A residence
c. Where licenses are hung
d. Required to have a second principle broker - ANSWERd. Required to have a
second principle broker
A salesperson may work for two principal brokers:
a. In some cases
b. In no case
c. If they desire
d. By permission of the commission - ANSWERa. In some cases
EXAM PREP QUESTIONS &
ANSWERS(RATED A+)
Commission meetings:
a. Are whenever possible
b. Are on the first Monday following the second Tuesday of every month
c. Can be called by a majority
d. Are twice a year at a time designated by the commission - ANSWERC. Can be
called by a majority
Meetings of the commission are held:
a. At the commission's office
b. At the board room
c. In private
d. At a public facility - ANSWERA. At the commission's office
An appearance before the commission:
a. Is mandatory if subpoenaed
b. Is required of all agents
c. Is subject to expenses
d. Must be accompanied by the broker - ANSWERa. Is mandatory if subpoenaed
All agendas of the commission are:
a. Prepared by the commissioner
b. Subject to board approval
c. Given with at least 5 days notice
d. Allotted approximate time intervals - ANSWERd. Allotted approximate time
intervals
Salaries of the employees of the commission are:
a. Fixed by the Governor
b. Voted on by the public
c. Fixed by the director
d. Subject to inflationary increases - ANSWERc. Fixed by the director
Serving a subpoena is the responsibility of:
a. The commission
b. The Director
c. The State Marshall
d. The person requesting it - ANSWERd. The person requesting it
The Duties of the Director of the commission are:
a. Unlimited
b. Controlled
,c. Irrevocable
d. Voidable - ANSWERb. Controlled
All of the following are false except:
a. The annual renewal broker license fee is $75.00
b. The transfer fee is $35.00
c. The original salesperson license fee is $60.00
d. The appeal-filing fees $100.00 - ANSWERd. The appeal-filing fees $100.00
If a bank dishonors a broker or salesperson's check it can be:
a. Charged a fee of $30.00
b. Collected from the principal broker
c. Taken out of the Real estate recovery Fund
d. Required to be made good within a "reasonable amount" of time - ANSWERb.
Collected from the principal broker
If a salesperson overpays on a check to the commission:
a. The excess must be entirely and promptly refunded
b. The commission may keep a portion for its own use
c. It may be declared void and returned to the check writer
d. The Commission is not obligated to return any of it. - ANSWERb. The commission
may keep a portion for its own use
In regards to educational credit:
a. Prelicensure courses can apply to C.E. credit
b. C.E. credit can apply to Prelicensure requirements
c. Both a & b
d. Neither a nor b - ANSWERd. Neither a nor b
The name of a real estate firm:
a. Must have the words "real estate" in it
b. Must be registered with the board
c. May need approval
d. Is subject to no restrictions - ANSWERc. May need approval
A temporary license:
a. Can be issued by the board in some cases
b. Is valid for 60 days
c. Is granted upon submission of application
d. Expires at the end of 30 days - ANSWERd. Expires at the end of 30 days
An out of state applicant whose state license does not offer Arkansas Licenses
opportunities comparable. to Arkansas:
a. May ask for a hearing before the commission
b. May be licensed after taking all classroom requirements, testing and paying all
fees
c. Must be a resident of Arkansas to get a license
d. May take only the Arkansas Law portion of the exam - ANSWERb. May be
licensed after taking all classroom requirements, testing and paying all fees
, In general an application to renew a real estate license received by the commission
after September 30th:
a. Will be returned
b. Will be treated as an expired license
c. Will be revoked
d. Will be processed because of the grace period - ANSWERb. Will be treated as an
expired license
The commission may process an application without penalty received on October
2nd because:
a. There is a 5-day grace period
b. The applicant has a documented reason
c. There were holidays
d. The commission sets the date manually - ANSWERc. There were holidays
An agent places their license on inactive status on December 15, 2001. They can
reactivate their license without testing if they apply by:
a. December 15, 2003
b. December 31, 2004
c. December 31, 2003
d. December 15, 2004 - ANSWERb. December 31, 2004
To reinstate an expired license:
a. A test must be taken
b. Proof of non-activity in real estate must be given
c. A fee must be paid
d. All of the above - ANSWERc. A fee must be paid
Signs require all of the following EXCEPT:
a. Be placed on a window ledge, easily viewed from the street
b. Have the words "Real Estate, Realtor," or other identifying words included
c. A picture of the building front with sign must be submitted
d. If in an office building, must appear on the directory - ANSWERa. Be placed on a
window ledge, easily viewed from the street
A branch office is NOT:
a. Where records are kept
b. A residence
c. Where licenses are hung
d. Required to have a second principle broker - ANSWERd. Required to have a
second principle broker
A salesperson may work for two principal brokers:
a. In some cases
b. In no case
c. If they desire
d. By permission of the commission - ANSWERa. In some cases
