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Delaware Salesperson Pre-Licensing Course Exam Prep: License Law, Real Estate Interests, and Ownership Flashcard Set Questions and Answers 100% Correct$11.49
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Delaware Salesperson Pre-Licensing Course Exam Prep: License Law, Real Estate Interests, and Ownership Flashcard Set Questions and Answers 100% Correct
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Course
Delaware Real Estate
Institution
Delaware Real Estate
Delaware Salesperson Pre-Licensing Course Exam Prep:
License Law, Real Estate Interests, and Ownership Flashcard
Set Questions and Answers 100% Correct
Entity that administers license law in Delaware - Correct Answer ️️ -Delaware Real
Estate Commission
Composition of the Delaware Real Esta...
Delaware Salesperson Pre -Licensing Course Exam Prep: License Law, Real Estate Interests, and Ownersh ip Flashcard Set Questions and Answers 100% Correct Entity that administers license law in Delaware - Correct Answer ✔️✔️-Delaware Real Estate Commission Composition of the Delaware Real Estate Commission - Correct Answer ✔️✔️-Nine members, all appointed by the governor; five are real estate professionals: three brokers (one from each county), one associate broker, and one salesperson; four members from the public at large: one from each county and the last from Wilmington Division of Professional Regulation - Correct Answer ✔️✔️-Entity that investigates complaints against licensees or the commission Sanctions the Delaware Real Estate Commission may impose against licensees - Correct Answer ✔️✔️-Letter of reprimand, probation, fines, additional coursework, or license suspension or revocation Delaware real estate guaranty fund - Correct Answer ✔️✔️-Pays out when a person wins a judgment against a licensee for losses or damages due to any type of deceit, and the person can't collect the entire amount of the judg ment Delaware's three types of real estate licenses - Correct Answer ✔️✔️-Salesperson, broker, and associate broker Salesperson - Correct Answer ✔️✔️-Licensee who works under a broker's supervision Associate broker - Correct Answer ✔️✔️-Broker who chooses to affiliate with another broker; doesn't participate in the day -to-day management of a brokerage Broker - Correct Answer ✔️✔️-Qualified to sell real estate, train and supervise affiliates, and manage brokerage on a day -to-day basis Unauthorized practice o f law - Correct Answer ✔️✔️-Illegal action that occurs when someone who's not a licensed attorney attempts to practice law, gives or offers legal advice, drafts legal documents, or otherwise performs any actions for which a law license is required Renewal date for real estate licenses - Correct Answer ✔️✔️-Biennially and before the expiration date of April 30 in even years Inducement - Correct Answer ✔️✔️-Premiums, prizes, merchandise discounts, or other incentives to list, sell, purchase, or lease property , or even to visit open houses, etc.; undisclosed inducements related to a purchase agreement are prohibited Comparative market analysis (CMA) - Correct Answer ✔️✔️-Compares a subject property to several similar properties as a tool to determine list, offe r, or rent price Encumbrance - Correct Answer ✔️✔️-Any claim or lien held by another person or entity against a property that limits the owner's use or rights, or decreases the property value Easement - Correct Answer ✔️✔️-The authorized use of another's property for a specific purpose Encroachment - Correct Answer ✔️✔️-An affixed intrusion onto another person's property (e.g., a fence that's three feet over the property line) Lis pendens - Correct Answer ✔️✔️-A public notice that a legal issue is pending
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