Montana Law - state portion of exam Questions and Correct Answers | Latest Update
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Course
Montana Law
Institution
Montana Law
How many members are in on the Board of Realty Regulation, who appoints them, and
where are they located?
-:- 7 persons, the Governor, Helena
What power does the board have?
-:- Subpoena documents and witnesses
Issue an injunction against any licensee
Reprimand a licensee
Place a li...
Montana Law - state portion of exam
Questions and Correct Answers | Latest
Update
How many members are in on the Board of Realty Regulation, who appoints them, and
where are they located?
✓ -:- 7 persons, the Governor, Helena
What power does the board have?
✓ -:- Subpoena documents and witnesses
✓ Issue an injunction against any licensee
✓ Reprimand a licensee
✓ Place a license on probation
✓ Suspend a license for one year
✓ Permanently revoke a license
The boards rules are laws, what is the charge for violating them?
✓ -:- A misdemeanor offense, but not a felony.
Who is NOT required to have a real estate license?
✓ -:- >Owners or Lessors selling or leasing their OWN property.
>Auctioneers employed by an owner.
>Anyone acting under court order - e.g. A sheriff conducting a sheriffs sale.
>People buying or selling road right-of-way or buying or selling oil and gas leases.
Who is required to have a broker or salesperson license?
✓ -:- A broker or salesperson negotiating the sale or leasing of real estate
with or without the expectation of getting paid.
What is the magic number for most of the TQ's in the state portion of the exam?
✓ -:- 10.
A salesperson whose supervising broker dies, is disabled (no longer licensed) and they
MUST notify the board within 10 days.
If the salesperson desires to switch brokers they must notify the Board within 10 days and
obtain a new license card prior to performing any license related activities for the new
broker - all previous listings and transactions remain with the old supervising broker
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