Unit 3 - Real Estate License Law and
Commission Rules
1. _____ ____ are issued to a dealer who qualifies because the broker for multiple
business entity. - ANS-Multiple licenses
2. A _____ is occasionally issued to sale buddies or broking associates who're registered
underneath an owner-developer. - ANS-Group license
3. A broker comes to a decision to relocate her real estate brokerage workplace. She
notifies the DBPR of the change in enterprise address. She additionally informs the
DBPR of the names of the two sales buddies who are no longer associated with her
brokerage. The sales partner's licenses may be? - ANS-Placed on involuntary inactive
reputation
4. A dealer movers his actual property office to a brand new, modern day area. He is so
busy coordinating the circulate that he forgets to inform the DBPR. The dealer's license?
- ANS-Will stop to be in pressure
5. A brokerage office adjustments enterprise deal with. What movement ought to the dealer
take? - ANS-Within 10 days of transferring, inform the DBPR in writing of the change in
business cope with
6. A certified broker is the dealer for 2 independent real estate brokerages. Which
declaration applies to this example? - ANS-The broker ought to request and be issued a
couple of broker licenses, one for each brokerage organization
7. A licensee who has been involuntary inactive for extra than ____ months but much less
than _____ months have to entire ____ hours of reactivation training. - ANS-12, 24, 28
8. A licensee who is a member of the U.S. Armed formces is exempt from the renewal
provisions throughout active responsibility and ____ ____ after discharge. - ANS-6
months
9. A actual estate licensee have to no longer carry out actual estate offerings following the
_____ date of the license. - ANS-Expiration
10. A sales partner has held an active actual property license considering the fact that 2008.
The licensee neglected to renew his real estate license earlier than the expiration date in
March of this 12 months. Which statement applies to this case? - ANS-The licensee
need to entire 14 hours of continuing training
11. A income partner is employed with the aid of a broking. The broker's license is
suspended. This movement reasons the income companion's license to be? -
ANS-Placed in involuntary inactive fame
12. A temporary license expires ____ _____ after the date of difficulty and is ____
renewable - ANS-6 months, no longer
13. After what period of time does an involuntary inactive license automatically expire and
become null and void? - ANS-2 years
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