1 of 116
Term
Funded by RE License Admin Fund for research, education in real
estate industry. Includes funds for scholarship
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Real Estate Development Fund Real Estate Investment Fund
Real Estate Marketing and Real Estate Research and
Promotion Fund Education Fund
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2 of 116
Term
,Aaron, a new licensee, has just been sponsored by ABC Realty.
Aaron's sponsoring broker is now obligated to do which of the
following?
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Submit confirmation of
sponsorship to the Division Name Aaron as a designated agent.
within 24 hours.
Submit a copy of Aaron's
Submit confirmation of sponsorship
examination report to the Division
to the Division within 48 hours.
within 24 hours.
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3 of 116
Term
Resident managers are exempt from licensure, provided
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that they limit their rentals to 20
they do not reside on the premises.
units per year.
they have their primary
they do not discriminate in their
residence in the complex, and
leasing practices
only lease those units.
, Don't know?
4 of 116
Term
Escrow, transaction, and employment records must be kept for what
duration of time?
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5, 5, and 2 years respectively. 5, 2, and 2 years respectively.
5 years. 2 years.
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5 of 116
Term
A buyer wants a certain repair made before closing and gives the
managing broker a check for the repair, dated for the day the job is
to be finished. Meanwhile, the managing broker uses funds from the
buyer's trust account deposit to pay the repairman. When the work is
complete, the managing broker promptly deposits the check into
the trust fund. In this case, the broker
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, has co-mingled trust funds with has acted properly by promptly
other trust funds. covering the approved expenditure.
should have received written
has misapplied trust funds in
authorization from the buyer in
violation of state regulations.
advance.
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6 of 116
Term
License Renewal Period for Initial Broker License
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180 days prior to expiration 90 days prior to expiration
30 days after expiration 30 days prior to expiration
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7 of 116
Term
Jerry has put off renewing his expired license for 15 months. In order
to renew the license, Jerry must
Term
Funded by RE License Admin Fund for research, education in real
estate industry. Includes funds for scholarship
Give this one a try later!
Real Estate Development Fund Real Estate Investment Fund
Real Estate Marketing and Real Estate Research and
Promotion Fund Education Fund
Don't know?
2 of 116
Term
,Aaron, a new licensee, has just been sponsored by ABC Realty.
Aaron's sponsoring broker is now obligated to do which of the
following?
Give this one a try later!
Submit confirmation of
sponsorship to the Division Name Aaron as a designated agent.
within 24 hours.
Submit a copy of Aaron's
Submit confirmation of sponsorship
examination report to the Division
to the Division within 48 hours.
within 24 hours.
Don't know?
3 of 116
Term
Resident managers are exempt from licensure, provided
Give this one a try later!
that they limit their rentals to 20
they do not reside on the premises.
units per year.
they have their primary
they do not discriminate in their
residence in the complex, and
leasing practices
only lease those units.
, Don't know?
4 of 116
Term
Escrow, transaction, and employment records must be kept for what
duration of time?
Give this one a try later!
5, 5, and 2 years respectively. 5, 2, and 2 years respectively.
5 years. 2 years.
Don't know?
5 of 116
Term
A buyer wants a certain repair made before closing and gives the
managing broker a check for the repair, dated for the day the job is
to be finished. Meanwhile, the managing broker uses funds from the
buyer's trust account deposit to pay the repairman. When the work is
complete, the managing broker promptly deposits the check into
the trust fund. In this case, the broker
Give this one a try later!
, has co-mingled trust funds with has acted properly by promptly
other trust funds. covering the approved expenditure.
should have received written
has misapplied trust funds in
authorization from the buyer in
violation of state regulations.
advance.
Don't know?
6 of 116
Term
License Renewal Period for Initial Broker License
Give this one a try later!
180 days prior to expiration 90 days prior to expiration
30 days after expiration 30 days prior to expiration
Don't know?
7 of 116
Term
Jerry has put off renewing his expired license for 15 months. In order
to renew the license, Jerry must
