Branch brokerage office - Study guides, Class notes & Summaries

The purpose of the West Virginia License Act is to --- limit competition in the real estate industry. protect the public in real estate transactions. regulate the limit for brokerage compensation. impose license fees to generate income. - protect the public in real estate transactions. Jim acquires a West Virginia broker license. He wants to sell real estate without opening a business so he decides to remain at his salespersons desk on the sales floor at Acme Realty. Jims license...

Involuntarily Inactive : When the licensee fails to complete the required continuing education and thereby cannot renew their license. Multiple Licenses : Under certain situations, licensees can have more than one license; A Multiple license can exist if a broker has business of such a nature that more than one broker's license is needed for legitimate business purposes and not be harmful to the public. A broker can have multiple brokers' licenses if he manages more than one brokera...

"A borrower __________ the mortgage and the lender __________ the financing." - gives According to its mission statement, what is CREA's primary purpose? - To represent and promote the interests of the members, enhance members' professionalism and ability to succeed, and advocate policies that ensure real estate property rights and ownership. Course 1 - Model 2 - Describe a client relationship in reference to a brokerage. - The term representation implies an agency relationship with th...

STUDY GUIDE FOR THE NY REAL ESTATE EXAM QUESTIONS WITH CORRECT ANSWERS Independent contractor must pay their own expenses. - Answer ️️ -According to IRS code section 3508[A, B], real estate agents are statutory non-employees and are therefore independent contractors. The code also states that there must be a written contract between the broker and the sales associate, also reviewed every 12-15 months · All records must be kept for 3 years · If sales associate not deemed independen...

Washington Real Estate Train Agents AMP Pre- License Mock Exam Questions and Answers A firm's satellite office at a new condominium does not need a managing broker on site if it is within how many miles of the nearest branch office? A) 20 B) 35 C) 40 D) 50 - Ans ️️ -B) 35 Feedback: Correct: State regulations allow a satellite sales office without a managing broker present if is within 35 miles of the nearest branch office. When a licensee is determined by the state to not be in c...

MO STATE LAW FOR REAL ESTATE SALESPERSON EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+ 339 - -Missouri Real Estate License Laws Acquiring Listings - -Illegal for licensee to "initiate" discussion with an owner who has a current "exclusive" listing on property; Owner may initiate discussion with licensee, at which point licensee may write a listing to become effective after expiration of current listing; Party must be given copy of listing "at the time it is signed"; All changes to...

Nebraska Real Estate Exam Review. State and National Test 2024. A salesperson may, without the supervision of a broker: - correct answer Handle the closing of his own property sold "by owner". A broker is guilty of commingling funds if he: - correct answer Places an earnest deposit in anything other than the designated brokerage account. A real estate broker trading under an assumed, or fictitious name: - correct answer Must furnish a certificate to the commission setting forth such ass...

Gold Coast RE 1001 Cram, Practice Math and Final Exam Q&A 2024 312. Florida has established three authorized brokerage relationships. Unless otherwise established by agreement, what is the broker's relationship with the public? a. Nonrepresentation b. Single agency c. Dual agency d. Transaction brokerage - CORRECT ANSWER-D. Transaction brokerage 242. A broker has been found guilty of mail fraud by a court and sent to jail. The broker's license will: a. Automatically be revoked b....

Dean's brokerage firm adopted an electronic transaction management system. Which of the following statements is true about brokerage policies related to the system? System permissions are on a need-to-know basis and passwords are required. Mary's been a salesperson in DC for two years. She's currently building her own professional website. In addition to her broker's contact information, what must she include on the site per DC real estate advertising guidelines? An online disclosur...

Kentucky Real Estate Mock Test 1 Latest 2023 Graded A If a broker's branch office is 75 miles from his main office, the person managing this branch office must: Have been licensed for 2 years averaging 20 hours per week in the business. Which of the following is NOT true regarding a sale-leaseback? The ownership of the property never transfers. Dino owns property rights located on Lake Michigan where he docks his yacht. His water rights are called: Littoral rights Which of the following is ...