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A real estate licensee has a buyer agency agreement. What is the seller in this situation? - A customer. An optionor and an optionee make a contract for an option on a commercial piece of property. If the optionee decides to exercise his option, when must he perform? - He must exercise his option...

15 days - AREC must give __?____ days notice of the hearing? 30 days - How many days does AREC have to give before their decision is stated? 30 days - How many days does the licensee have to decide if they will accept the decision of AREC or appeal it? conversion - spending earnest money = theft...

Alabama Exam Prep| Questions WitA salesperson discovers an error on the closing statement. Who is responsible for ensuring the accuracy of closing statements? A) The salesperson is responsible B) The salesperson's broker is responsible C) The title company is responsible D) The attorney is res...

he consumer member of the Alabama Real Estate Commission must be _____. a licensed broker a licensed salesperson an owner of real property a licensed salesperson or broker - an owner of real property Which of the following is NOT a purpose of the Alabama Real Estate License Law? to set qualifi...

Which of the following ways of specializing is common in the real estate brokerage business? A. By type of mortgage financing required B. By years of experience in the business C. By type of property D. By background of client - C. By type of property Which of the following is included in the l...

Special or Specific Agency - The Principal gives the agent authority to do one specific thing-sell property. They enter into a contract that stipulates how the task will be done-multiple listings of the property, commission paid etc. General - Principal and agent enter into a contract giving the ...

After passing state exam, you have ___ days to apply for a Temporary License, either on an Active or Inactive basis. - 90 Temporary Licenses are only valid for ___ year(s), and cannot be renewed. - 1 For an Original License, you must pass a ___ hour post-license course. - 30 If Temporary License...