Hondros NEWEST 2024 TEST QUESTIONS AND
CORRECT DETAILED ANSWERS WITH
RATIONALES (VERIFIED ANSWERS) |ALREADY
GRADED A+
An arbitration agreement would MOST LIKELY be unenforceable for a dispute over the
- Answer -title to real estate.
Broker Steven was so eager to make a sale that he intentionally doctored the seller's
disclosure form before presenting it to the buyer. After the transaction, the buyer sued
Steven in civil court. He was found guilty of actual fraud and ordered to pay for the
buyer's repair expenses. In addition, the court imposed a fine of $12,000 as a warning
to others. The $12,000 fine would be considered - Answer -punitive damages.
the primary purpose of most civil lawsuits is to - Answer -. compensate a person who
has been harmed.
The purpose of an ancillary trustee is to - Answer -complete brokerage business when a
broker dies.
Which statement regarding the Ohio Division of Real Estate is FALSE? - Answer -It sets
licensing exam standards.
when a complaint is filed against a licensee, the first task is to determine whether or not
the - Answer -Superintendent has jurisdiction.This is the correct answer.
A consumer was paid $20,000 after filing a claim with the Real Estate Recovery Fund
against an Ohio licensee. How does this impact the licensee? - Answer -His license is
suspended until he repays the Fund $20,000 plus interest.
Abe sued Bob for breach of contract, claiming $28,000 in damages. In which Ohio court
would Abe file suit? - Answer -court of common pleas
lester is a licensed real estate broker in Indiana and wants to list warehouses in an Ohio
industrial park for sale. Lester is NOT required to - Answer -obtain an Ohio real estate
license.
Within the government, who is responsible for statutory law? - Answer -legislative
branch
Which statement about a property manager in Ohio is TRUE? - Answer -Property
managers must maintain a separate ledger for each property owner.
,A person who commits a tort - Answer -has violated the standards of reasonable
conduct imposed by law.
Which statement about the membership of the Ohio Real Estate Commission is
FALSE? - Answer -Members serve a four-year term.
An Ohio real estate license is NOT valid for - Answer -single-family homes sold at
auction.
Which statement about regulations is FALSE? - Answer -Regulations are passed by the
legislative branch of the government.
Which statement regarding the Ohio Real Estate Commission is FALSE? - Answer -It
subpoenas witness for investigations.
what is the maximum fine that may be imposed on a licensee for each violation of the
license law? - Answer -2,500
Which offense is LEAST LIKELY to be considered a civil case? - Answer -Dave
embezzled $30,000 from his broker's trust account.
in a criminal case, who is the plaintiff? - Answer -the government
Which term refers to the legal doctrine that requires a judge to follow precedent to make
the law consistent and predictable? - Answer -stare decisis
A broker - Answer -Any person, partnership, association, limited liability partnership,
limited liability company, or corporation who, for a fee, sells, lists, leases, exchanges,
negotiates, or otherwise deals in the real estate of others, or represents publicly that he
does.
Associate Broker - Answer -An individual who is licensed as a broker but does not
function as a principal broker.
Fiduciary - Answer -Someone in a position of trust and confidence, held by law to high
standards of good faith and loyalty.
Foreign Real Estate - Answer -any real estate sitution outside of Ohio
Inactive License - Answer -License status of any salesperson who returns his license to
the Division of Real Estate and Professional Licensing, or whose broker does not want
to maintain sponsorship of the licensee. A license may remain inactive indefinitely, as
long as it is timely renewed and continuing education requirements are met.
License on Deposit - Answer -A special license status that is available only to brokers
who wish to return their broker's license to the Division of Real Estate and Professional
, Licensing in order to reactivate their license as a salesperson. Someone with a broker's
license can also choose to be an associate broker, allowing the licensee to retain the
broker's license without being designated a principal broker of the firm. A broker's
license may remain on deposit indefinitely if timely renewed and continuing education
requirements are met. 2. A special license status available to any licensee who enters
the military or whose reserve military status is activated. The license remains inactive
until the next renewal date following honorable discharge from the military.
Management Level Licensee - Answer -A licensee who is employed by or affiliated with
a real estate principal broker and who has supervisory responsibility over other
licensees employed by or affiliated with that real estate broker. May be licensed as
either an associate broker or a salesperson.
Principal Broker - Answer -A licensed individual who has oversight responsibility for a
brokerage firm. A brokerage firm must have at least one principal broker, but can have
more.
Reactivate The process to remove a license from inacti
Reactivate - Answer -The process to remove a license from inactive, voluntary hold,
suspension, or deposit status (broker's license only).
Resigned - Answer -The license status in which a license has been voluntarily and
permanently surrendered to, or is otherwise in the possession of, the Division of Real
Estate and Professional Licensing, is not renewed, and is not associated with a real
estate broker.
Salesperson - Answer -n Any licensed agent associated with a principal broker and, as
such, may perform most acts of a broker on behalf of the broker.
Suspension - Answer -The temporary withdrawal of a real estate agent's license for a
certain and specified period of time.
license on deposit. - Answer -Any licensee (broker or salesperson) may place his
license on deposit when entering the armed services or upon activation in the military
reserve
realtor - Answer -you are a member or the trade of association
Fair Housing Paster - Answer -issued by the Ohio Real Estate Commission that
contains a statement that it is illegal to discriminate against any person because of race,
color, religion, sex, familial status, national origin, military status, disability, or ancestry
in the:
Blockbusting - Answer -The division may be contacted complaints, can't have cars
parked all in the grass.
