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ARKANSAS STATE LAW EXAM COSMETOLOGY EXAM LATEST 2024 ACTUAL EXAM 200 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) ALREADY GRADED A+$20.99
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ARKANSAS STATE LAW EXAM COSMETOLOGY EXAM
LATEST 2024 ACTUAL EXAM 200 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED ANSWERS)
ALREADY GRADED A+
What's the purpose of license law? - answer-To regulate the practice of real estate brokers &
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salespersons in order to protect the public health, safety, & welfare. Only individuals who meet and
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maintain the minimum standards of competence & conduct may provide service to the public.
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Can an "Associate broker" have supervisory authority? - answer-No, they are supervised by PB or
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executive broker.
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Does an executive broker have to be under supervision? - answer-Yes, by PB
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Who may executive broker have supervision over? - answer-Associate brokers & salespersons
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To participate in a real estate auction, must the auctioneer and ringman both hold a real estate license?
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- answer-Yes
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Define "Principal Broker" - answer-Individual expecting to act or act for another for a fee, commission,
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or other consideration.
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What is a person called working under the Power of Attorney? - answer-Attorney in fact
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Can a person working under an official power of attorney receive a fee for selling the person's property
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whom they are representing? - answer-No
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What is the limitation of an attorney at law performing real estate activities without a license? - answer-
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Performing his or her duties as an attorney at law.
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For exemption, does a resident manager have to actually live on the property? - answer-Yes
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,Can an officer or employee of a federal agency or state government, or any political subdivision buy or
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sell property? - answer-Yes, as long as it's in the performance or conduct of their official duties.
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Do MLS employees have to have a RE license? - answer-not if they're wholly owned by a nonprofit
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organization or association of real estate licenses.
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What could a person be charged with for operating without a real estate license when such is required?
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- answer-Class D felony
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Who would prosecute a violator for operating without a license? - answer-Prosecuting attorney for each
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county
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In what court would an action for operating without a license be brought? - answer-Circuit court in any
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county where it happened
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Can a salesperson, executive broker, or associative broker sue the public for compensation? - answer-
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No, unless action is against Principal broker with whom he/she is licensed with.
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In which real estate transaction must an agent disclose to the parties whom they are representing?
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- answer-Every one
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How many members make up AREC? - answer-5
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Who appoints the commissioners? - answer-Governor
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What is the length of the term for Real Estate commissioners? - answer-3 years
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3/5 of commissioners must have held a real estate license for a minimum of: - answer-5 years
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The governor fills vacancies from a list of 4 nominees submitted by whom? - answer-Arkansas Realtors
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Association
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, To whom do the two non-industry people on the commission represent? - answer-one represents
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consumers, one represents the elderly (60+)
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What is the limitation of the two non-industry representatives on the Commission? - answer-- both shall
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be appointed from stage at large, subject to confirmation by the senate
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- 2 positions can't be held by the same person
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- both shall be full voting members, but can't participate in the grading of exams
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Who is employed to put into effect the rules and regulations of the Commission? - answer-Executive
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director
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May the Commission implement rules and regulations to carry out the intent of the law? - answer-yes
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What is the limitation of the Commission conducting and paying for a real estate seminar? - answer-
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Can the Commission make a charge for materials provided by the Commission? - answer-Yes, reasonable
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charges
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Does the commission have the right to establish procedures for real estate auctions? - answer-Yes
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What two licensing agencies must an auctioneer comply with when conducting real estate auctions?
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- answer-1. AREC
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2. Auctioneer's Licensing Board
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Does Commission have power to issue subpoenas? - answer-Yes
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What is the subpoena called that requires books, writing, or documents to be produced? - answer-
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Subpoena duces tecum
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