CE Shop Arkansas Practice Test
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Alexi signed a time-share purchase contract on the Wednesday before
Memorial Day weekend. What is the last day he can possibly submit a
cancellation notice to the seller?
A. On Memorial Day
B. The day after Memorial Day
C. The day before Memorial Day
D. The Friday before Memorial Day CORRECT ANSWER. B. The day after Memorial
Day
Since the fifth day after the signing of the contract is a holiday (Memorial
Day), Alexi has until the following day to submit his cancellation notice.
A few days ago, Arkansas broker Jessica submitted an offer to her seller
client, Sean. He called her this morning to say he's accepting the offer.
Woohoo! To stay in compliance with commission rules, what must occur
prior to closing? Select the best correct answer.
,A. A 2copy 2of 2the 2contract, 2including 2any 2addenda, 2may 2be 2provided 2to
2the 2buyer 2and 2seller 2after 2closing.
B. Both 2the 2buyer 2and 2the 2seller 2must 2receive 2a 2copy 2of 2the 2contract,
2including 2any 2addenda 2and 2containing 2all 2required 2signatures, 2prior 2to
2closing.
C. The 2buyer 2must 2receive 2a 2copy 2of 2the 2contract, 2including 2any 2addenda,
2containing 2all 2required 2signatures.
D. The 2seller 2must 2receive 2a 2copy 2of 2the 2contract, 2including 2any 2addenda,
2containing 2all 2required 2signatures. 2CORRECT 2ANSWER . 2 B. 2Both 2the 2buyer 2and
2the 2seller 2must 2receive 2a 2copy 2of 2the 2contract, 2including 2any 2addenda 2and
2containing 2all 2required 2signatures, 2prior 2to 2closing.
Both 2the 2buyer 2and 2the 2seller 2must 2receive 2a 2copy 2of 2the 2contract,
2including 2any 2addenda 2and 2containing 2all 2required 2signatures, 2prior 2to
2closing.
Kent 2has 2knowledge 2that 2Brent, 2another 2salesperson 2in 2the 2firm,
2purposefully 2published 2a 2misleading 2advertisement 2for 2a 2home 2in 2West
2Fork. 2What 2does 2the 2commission 2say 2Kent's 2duty 2is 2in 2this 2situation?
A. Report 2it 2in 2writing 2to 2the 2commission.
B. Report 2it 2in 2writing 2to 2their 2principal 2broker.
C. Speak 2directly 2to 2Brent 2advising 2him 2of 2the 2violation.
D. Turn 2Brent 2into 2the 2police. 2CORRECT 2ANSWER. 2 A. 2Report 2it 2in
2writing 2to 2the 2commission.
Dennis 2is 2a 2broker 2in 2Rogers 2who 2wants 2to 2open 2a 2branch 2office 2location 2in
2Prairie 2Creek. 2What 2does 2he 2need 2to 2do 2to 2open 2a 2branch 2office?
A. Appear 2before 2the 2commission 2to 2make 2the 2branch 2office 2request.
B. Appear 2before 2the 2judge 2to 2make 2the 2branch 2office 2request
C. Franchise 2the 2brokerage.
D. Obtain 2a 2duplicate 2branch 2office 2license. 2CORRECT 2ANSWER. 2 D. 2Obtain
2a 2duplicate 2branch 2office 2license.
If 2a 2principal 2broker 2maintains 2a 2branch 2office, 2a 2duplicate 2principal
2broker's 2license 2is 2required 2for 2each 2permanent 2branch 2office 2and 2must 2be
2displayed 2in 2the 2branch 2office.
,Which 2of 2the 2following 2duties 2may 2an 2unlicensed 2person 2in 2Arkansas
2perform 2when 2receiving 2compensation?
A. Negotiating 2the 2exchange 2of 2real 2estate
B. Negotiating 2the 2sale 2or 2exchange 2of 2lots 2or 2parcels 2of 2land
C. Performing 2bookkeeping 2and 2accounting 2duties
D. Selling 2or 2offering 2to 2sell 2real 2estate 2CORRECT 2ANSWER. 2 C. 2Performing
2bookkeeping 2and 2accounting 2duties
Arkansas 2law 2requires 2licensees 2to 2disclose 2personal 2interest 2before 2acting 2on
2their 2own 2behalf 2or 2on 2behalf 2of 2certain 2individuals 2with 2whom 2they 2have 2a
2personal 2relationship.
Which 2of 2the 2following 2must 2Jose 2disclose 2to 2a 2buyer 2client 2when 2writing 2up 2an
2offer?
A. He 2knows 2the 2other 2party 2to 2the 2transaction 2because 2he 2lives 2in 2the
2neighborhood.
B. He's 2helping 2an 2acquaintance 2write 2an 2offer 2on 2the 2same 2house.
C. He's 2told 2his 2former 2college 2roommate 2about 2the 2house, 2and 2he 2may 2make
2an 2offer.
D. His 2mom 2is 2the 2seller. 2CORRECT 2ANSWER. 2 D. 2His 2mom 2is 2the 2seller.
A 2temporary 2interim 2license 2is 2valid 2for days.
A. 10
B. 14
C. 30
D. 60 2CORRECT 2ANSWER. 2 C. 230
Any 2offers 2Aki 2receives 2from 2her 2buyer 2client 2must 2be 2presented 2to 2the 2listing
2firm
.
A. As 2soon 2as 2possible
B. By 2the 2seller 2directly
C. No 2later 2than 2the 2close 2of 2the 2next 2business 2day
D. Within 2one 2week 2of 2being 2received 2CORRECT 2ANSWER. 2 C. 2No 2later 2than
2the 2close 2of 2the 2next 2business 2day
, In 2Arkansas, 2any 2offers 2the 2selling 2licensee 2receives 2must 2be 2presented 2to
2the 2listing 2firm 2not 2later 2than 2the 2close 2of 2the 2next 2business 2day.
In 2Arkansas, 2which 2individual 2in 2these 2scenarios 2would 2require 2a 2real 2estate
2license?
A. Joan 2is 2searching 2for 2a 2new 2home 2for 2a 2friend 2moving 2into 2town. 2After
2the 2friend 2buys 2a 2property, 2Joan 2will 2receive 22% 2of 2the 2sales 2price 2for 2her
2time.
B. Marcus 2is 2selling 2his 2own 2home 2and 2isn't 2using 2the 2services 2of 2a 2listing
2agent.
C. Pat 2is 2helping 2his 2sister 2Kristin 2find 2a 2new 2apartment. 2He's 2searching
2listings 2and 2calling 2property 2management 2companies 2but 2won't
2receive 2anything 2in 2return.
D. Ron 2is 2acting 2as 2executor 2of 2his 2uncle's 2estate, 2which 2includes 2selling 2his
2uncle's 2property. 2CORRECT 2ANSWER . 2 A. 2Joan 2is 2searching 2for 2a 2new 2home
2for 2a 2friend 2moving 2into 2town. 2After 2the 2friend 2buys 2a 2property, 2Joan 2will
2receive 22% 2of 2the 2sales 2price 2for 2her 2time.
In 2general, 2unlicensed 2consumers 2can't 2perform 2real 2estate 2activities 2for
2others 2for 2a 2fee 2or 2for 2compensation 2of 2any 2kind. 2Exceptions 2include
2trustees 2and 2executors, 2or 2people 2selling 2their 2own 2property. 2Joan 2is
2receiving 2compensation 2and 2would 2need 2to 2be 2licensed 2in 2order 2not 2to
2break 2any 2laws.
Which 2of 2these 2advertisements 2would 2be 2compliant 2with 2Arkansas 2license 2law?
A. Adam's 2ad 2states 2he 2is 2a 2member 2of 2NAR, 2even 2though 2he 2hasn't
2finished 2his 2membership 2application 2yet.
B. Jodie's 2ad 2for 2a 2property 2listed 2with 2her 2brokerage 2includes 2just 2her
2individual 2name 2and 2phone 2number.
C. Paul's 2ad 2discloses 2his 2license 2status 2and 2his 2brokerage 2firm's 2name.
D. Zoe's 2ad 2shows 2a 2different 2brokerage 2name 2than 2the 2one 2on 2her
2broker's 2registered 2business 2license. 2CORRECT 2ANSWER. 2 C. 2Paul's 2ad
2discloses 2his 2license 2status 2and 2his 2brokerage 2firm's 2name.
Sheri's 2exclusive 2agency 2agreement 2with 2broker 2Phillip 2has 2expired. 2Which 2of
2the 2following 2actions 2is 2illegal?
A. Phillip 2asks 2his 2co-agent 2Courtney 2to 2take 2Sheri 2on 2as 2a 2client.
B. Phillip 2removed 2the 2MLS 2listing 2himself 2as 2the 2listing 2agent 2contact.
C. Sheri 2signed 2a 2new 2listing 2agreement 2with 2Carlson.
questions and answers 100%
guaranteed success.
Alexi signed a time-share purchase contract on the Wednesday before
Memorial Day weekend. What is the last day he can possibly submit a
cancellation notice to the seller?
A. On Memorial Day
B. The day after Memorial Day
C. The day before Memorial Day
D. The Friday before Memorial Day CORRECT ANSWER. B. The day after Memorial
Day
Since the fifth day after the signing of the contract is a holiday (Memorial
Day), Alexi has until the following day to submit his cancellation notice.
A few days ago, Arkansas broker Jessica submitted an offer to her seller
client, Sean. He called her this morning to say he's accepting the offer.
Woohoo! To stay in compliance with commission rules, what must occur
prior to closing? Select the best correct answer.
,A. A 2copy 2of 2the 2contract, 2including 2any 2addenda, 2may 2be 2provided 2to
2the 2buyer 2and 2seller 2after 2closing.
B. Both 2the 2buyer 2and 2the 2seller 2must 2receive 2a 2copy 2of 2the 2contract,
2including 2any 2addenda 2and 2containing 2all 2required 2signatures, 2prior 2to
2closing.
C. The 2buyer 2must 2receive 2a 2copy 2of 2the 2contract, 2including 2any 2addenda,
2containing 2all 2required 2signatures.
D. The 2seller 2must 2receive 2a 2copy 2of 2the 2contract, 2including 2any 2addenda,
2containing 2all 2required 2signatures. 2CORRECT 2ANSWER . 2 B. 2Both 2the 2buyer 2and
2the 2seller 2must 2receive 2a 2copy 2of 2the 2contract, 2including 2any 2addenda 2and
2containing 2all 2required 2signatures, 2prior 2to 2closing.
Both 2the 2buyer 2and 2the 2seller 2must 2receive 2a 2copy 2of 2the 2contract,
2including 2any 2addenda 2and 2containing 2all 2required 2signatures, 2prior 2to
2closing.
Kent 2has 2knowledge 2that 2Brent, 2another 2salesperson 2in 2the 2firm,
2purposefully 2published 2a 2misleading 2advertisement 2for 2a 2home 2in 2West
2Fork. 2What 2does 2the 2commission 2say 2Kent's 2duty 2is 2in 2this 2situation?
A. Report 2it 2in 2writing 2to 2the 2commission.
B. Report 2it 2in 2writing 2to 2their 2principal 2broker.
C. Speak 2directly 2to 2Brent 2advising 2him 2of 2the 2violation.
D. Turn 2Brent 2into 2the 2police. 2CORRECT 2ANSWER. 2 A. 2Report 2it 2in
2writing 2to 2the 2commission.
Dennis 2is 2a 2broker 2in 2Rogers 2who 2wants 2to 2open 2a 2branch 2office 2location 2in
2Prairie 2Creek. 2What 2does 2he 2need 2to 2do 2to 2open 2a 2branch 2office?
A. Appear 2before 2the 2commission 2to 2make 2the 2branch 2office 2request.
B. Appear 2before 2the 2judge 2to 2make 2the 2branch 2office 2request
C. Franchise 2the 2brokerage.
D. Obtain 2a 2duplicate 2branch 2office 2license. 2CORRECT 2ANSWER. 2 D. 2Obtain
2a 2duplicate 2branch 2office 2license.
If 2a 2principal 2broker 2maintains 2a 2branch 2office, 2a 2duplicate 2principal
2broker's 2license 2is 2required 2for 2each 2permanent 2branch 2office 2and 2must 2be
2displayed 2in 2the 2branch 2office.
,Which 2of 2the 2following 2duties 2may 2an 2unlicensed 2person 2in 2Arkansas
2perform 2when 2receiving 2compensation?
A. Negotiating 2the 2exchange 2of 2real 2estate
B. Negotiating 2the 2sale 2or 2exchange 2of 2lots 2or 2parcels 2of 2land
C. Performing 2bookkeeping 2and 2accounting 2duties
D. Selling 2or 2offering 2to 2sell 2real 2estate 2CORRECT 2ANSWER. 2 C. 2Performing
2bookkeeping 2and 2accounting 2duties
Arkansas 2law 2requires 2licensees 2to 2disclose 2personal 2interest 2before 2acting 2on
2their 2own 2behalf 2or 2on 2behalf 2of 2certain 2individuals 2with 2whom 2they 2have 2a
2personal 2relationship.
Which 2of 2the 2following 2must 2Jose 2disclose 2to 2a 2buyer 2client 2when 2writing 2up 2an
2offer?
A. He 2knows 2the 2other 2party 2to 2the 2transaction 2because 2he 2lives 2in 2the
2neighborhood.
B. He's 2helping 2an 2acquaintance 2write 2an 2offer 2on 2the 2same 2house.
C. He's 2told 2his 2former 2college 2roommate 2about 2the 2house, 2and 2he 2may 2make
2an 2offer.
D. His 2mom 2is 2the 2seller. 2CORRECT 2ANSWER. 2 D. 2His 2mom 2is 2the 2seller.
A 2temporary 2interim 2license 2is 2valid 2for days.
A. 10
B. 14
C. 30
D. 60 2CORRECT 2ANSWER. 2 C. 230
Any 2offers 2Aki 2receives 2from 2her 2buyer 2client 2must 2be 2presented 2to 2the 2listing
2firm
.
A. As 2soon 2as 2possible
B. By 2the 2seller 2directly
C. No 2later 2than 2the 2close 2of 2the 2next 2business 2day
D. Within 2one 2week 2of 2being 2received 2CORRECT 2ANSWER. 2 C. 2No 2later 2than
2the 2close 2of 2the 2next 2business 2day
, In 2Arkansas, 2any 2offers 2the 2selling 2licensee 2receives 2must 2be 2presented 2to
2the 2listing 2firm 2not 2later 2than 2the 2close 2of 2the 2next 2business 2day.
In 2Arkansas, 2which 2individual 2in 2these 2scenarios 2would 2require 2a 2real 2estate
2license?
A. Joan 2is 2searching 2for 2a 2new 2home 2for 2a 2friend 2moving 2into 2town. 2After
2the 2friend 2buys 2a 2property, 2Joan 2will 2receive 22% 2of 2the 2sales 2price 2for 2her
2time.
B. Marcus 2is 2selling 2his 2own 2home 2and 2isn't 2using 2the 2services 2of 2a 2listing
2agent.
C. Pat 2is 2helping 2his 2sister 2Kristin 2find 2a 2new 2apartment. 2He's 2searching
2listings 2and 2calling 2property 2management 2companies 2but 2won't
2receive 2anything 2in 2return.
D. Ron 2is 2acting 2as 2executor 2of 2his 2uncle's 2estate, 2which 2includes 2selling 2his
2uncle's 2property. 2CORRECT 2ANSWER . 2 A. 2Joan 2is 2searching 2for 2a 2new 2home
2for 2a 2friend 2moving 2into 2town. 2After 2the 2friend 2buys 2a 2property, 2Joan 2will
2receive 22% 2of 2the 2sales 2price 2for 2her 2time.
In 2general, 2unlicensed 2consumers 2can't 2perform 2real 2estate 2activities 2for
2others 2for 2a 2fee 2or 2for 2compensation 2of 2any 2kind. 2Exceptions 2include
2trustees 2and 2executors, 2or 2people 2selling 2their 2own 2property. 2Joan 2is
2receiving 2compensation 2and 2would 2need 2to 2be 2licensed 2in 2order 2not 2to
2break 2any 2laws.
Which 2of 2these 2advertisements 2would 2be 2compliant 2with 2Arkansas 2license 2law?
A. Adam's 2ad 2states 2he 2is 2a 2member 2of 2NAR, 2even 2though 2he 2hasn't
2finished 2his 2membership 2application 2yet.
B. Jodie's 2ad 2for 2a 2property 2listed 2with 2her 2brokerage 2includes 2just 2her
2individual 2name 2and 2phone 2number.
C. Paul's 2ad 2discloses 2his 2license 2status 2and 2his 2brokerage 2firm's 2name.
D. Zoe's 2ad 2shows 2a 2different 2brokerage 2name 2than 2the 2one 2on 2her
2broker's 2registered 2business 2license. 2CORRECT 2ANSWER. 2 C. 2Paul's 2ad
2discloses 2his 2license 2status 2and 2his 2brokerage 2firm's 2name.
Sheri's 2exclusive 2agency 2agreement 2with 2broker 2Phillip 2has 2expired. 2Which 2of
2the 2following 2actions 2is 2illegal?
A. Phillip 2asks 2his 2co-agent 2Courtney 2to 2take 2Sheri 2on 2as 2a 2client.
B. Phillip 2removed 2the 2MLS 2listing 2himself 2as 2the 2listing 2agent 2contact.
C. Sheri 2signed 2a 2new 2listing 2agreement 2with 2Carlson.
