Brokers license Study guides, Class notes & Summaries

Real Estate U Final Exam Study Guide The section of the New York Real Property Law pertaining to real estate salespersons and brokers. - Primary purpose is to "Protect the Public" - Requires a salesperson to be at least 18 years of age - Requires a broker to be at least 20 years of age A licensed real estate broker that holds the license of a salesperson. Obtained after your register for the New York State Salesperson exam using eAccessNY. You must bring this with you when takin...

A Tennessee licensee must use the "Exclusive Right to Sell" form required by the licensee's broker. According to the level of authority delegated to the agent, the usual real estate agency is a limited agency. When must the contract be in writing? John is agreeing to sell his shed to Shawn for $1,000. One disadvantage in using active listings for comparables is they provide somewhat dubious comparisons because listing prices are not selling prices. Why is it sometimes necessary to inclu...

Aceable Law of Agency Review Exam Questions with 100% Correct Answers Here are the four major types of agency acts: - answerListing Buying Leasing Property Management TREC's purpose is to - answerregulate educational and licensing programs that maintain standards AND interpret legislation that affects the real estate profession — primarily the Texas Real Estate License Act (TRELA). Integrity - answerSatisfy to the commission (TREC) that the candidate meets and exceeds their characte...

How long must real estate documents be kept? - ANSWER-6 years, from the date the transaction was accepted, rejected, or withdrawn Who approves advertising? - ANSWER-Principal broker When should the principal broker review brokers documents? - ANSWER-7 days of the document's acceptance, rejection or withdrawal. The PB must sign and initial at the time of review How long must you keep attendance and continuing records? - ANSWER-3 years everything else regarding business for 6 years Wh...

RECA Fundamentals Exam Questions and Answers Already Passed Which of the following is NOT a RECA educational resource for industry professionals? Spatial Information System (Spin 2) Which entity has the authority to amend the Real Estate Act Provincial Legislature Which of the following measures the change in a cost of a fixed basket of goods and services purchased by families over a period of time Consumer Price Index (CPI) Which of the following will occur to the supply of a good when ther...

If the Alaska real estate commission directs the investigator to conduct an unannounced trust account audit a broker may request a 24 hour delay - Answer- To meet schedule obligations but the records to be audited must be sealed by the investigator and unavailable to the broker during that time In Alaska who of the following would need to be a licensed real estate broker or sales person - Answer- Person who employs fewer than three apartment licenses. In Alaska which of the following is re...

In Illinois, the real estate license law is administered by the...? - IDFPR (Bureau of Real Estate Professions) How are the nine members of the Real Estate Administration and Disciplinary Board Selected? - By the governor What is the name given to the Illinois license laws under which brokers and salespeople practice? - Real Estate License Act of 2000 After May 1, 2011, the new license categories are: - Managing Broker and Broker After April 30, 2012, as an alternative to passing the prof...

Tract building - Answer- When a dev. Acquired land, records a plat map and uses a model center from which sales may be made Local level - Answer- Planning, zoning, property taxation, building and health codes and regulations, and building moratoriums that affect development play a significant role in the cost and desirability of real estate Broker associate - Answer- A licensed broker working for another broker False - Answer- A florida real estate license applicant must be a resident a...

Florida Real Estate U Final Exam Answered 2023/2024 Florida Real Estate U Final Exam Answered 2023/2024 An appraisal can be completed by which of the following? A home inspector A real estate broker A licensed appraiser using USPAP standards A mortgage loan originator A licensed appraiser using USPAP standards What is a BPO? Broker Price Opinion Best Practice Organization Best Prospective Offer Beyond Present Opportunities Broker Price Opinion Which of the following is incorrect?...

Colorado Real Estate – Contracts Exam Questions and Answers 100% Pass vicarious liability - Correct Answer ️️ -a principal's liability for an agent's acts performed within the scope of the agency; specifically excluded by Colorado statute from a principal's liability unless the act or omission was approved, directed or ratified. (The employing broker is responsible to licensees actions) Sam is an associate broker who wishes to purchase investment property. What must Sam do when t...