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ALABAMA REAL ESTATE EXAM PREP QUESTIONS
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ALABAMA REAL ESTATE EXAM PREP QUESTIONS
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ALABAMA REAL ESTATE EXAM PREP QUESTIONS"To uphold, protect, and promote the public interest, which embraces the interests of
regulated licensees and entities and the interest of consumers, by the fair and impartial
development and administration of licensing laws and regulations." - answer- Alabama
Real Estate Commission Mission Statement
Protect consumers from unprofessional practices. - answer- What is the primary
purpose of license laws?
Buyers, Sellers, Tenants, and Land/Building Owners - answer- Who does license law
protect?
Housing providers must make reasonable accommodations for tenants with disabilities.
T/F - answer- T.
Landlords must make reasonable accommodations for tenants according to the Federal
Fair Housing Act.
Housing providers MAY deny housing to tenants with service animals.
T/F - answer- F.
Housing providers must allow service animals with proper licensing.
i love you - answer- from sarah
Tenants bear the cost when it comes to reasonable accommodations such as:
Adding a ramp to make the entrance possible.
Widening doorways.
Modifying parking spaces to accommodate tenants with disabilities.
T/F - answer- T.
Tenants with documented disabilities may request structural changes to the premises to
accommodate their needs.
Tenants may also request accommodations at any time during their tenancy.
Redlining - answer- A discriminatory real estate practice in North America in which
members of minority groups are prevented from obtaining money to purchase homes or
property in predominantly white neighborhoods. The practice derived its name from the
red lines depicted on cadastral maps used by real estate agents and developers.
Today, redlining is officially illegal.
,Blockbusting - answer- A process by which real estate agents convince white property
owners to sell their houses at low prices because of fear that persons of color will soon
move into the neighborhood
Steering - answer- Channeling prospective buyers or tenants to particular
neighborhoods based upon their race, religion, national origin, or ancestry.
In what year did the Fair Housing Act ban blockbusting, steering, & redlining? - answer-
The Federal Fair Housing Act was passed in 1968.
I've been a victim of housing discrimination, what do i do? - answer- Members of
protected class (race, color, national origin, religion, sex, familial status, or disability)
who believe they have been victims of fair housing can file a complaint on the HUD
website.
Law of Contracts, General Property Law, Law of Agency, State-Specific License Law,
Landlord-Tenant Laws, & Consumer Protection Laws are all: - answer- Areas covered
by Real Estate License Law.
Governs the use of contracts, and what makes them valid. Also covers what happens
when a breach of contract occurs and how contracts may be terminated. - answer- Law
of Contracts
I, Tripp Burnett, can legally draft contracts. T/F - answer- False.
Covers the various forms of property law and ownership including, tenancy in real
property, and its distinction from personal property. Also covers the rights of ownership
and tenancy and the government's rights and authority under eminent domain and
various police powers. - answer- General Property Law
Covers how an agency relationship is created, and the duties of an agent to the
principal. - answer- Law of Agency
Relate to the requirements of a licensee when preforming real estate activities within the
state. - answer- State-Specific License Law
These laws address the landlord-tenant relationship. They establish everything from the
duties and responsibilities of each party to the state laws for handling lease agreements
to fair housing considerations for tenants and other tenants' rights issues. - answer-
Landlord-Tenant Laws
Laws established to ensure that the licensed professionals in a state treat customers
with fairness. These laws are designed to protect consumers from unfair or unethical
business practices, fraud, misrepresentation, and more. - answer- Consumer-Protection
Laws
,1928. - answer- The year the AREC was born.
Who appoints members (9) to the AREC board? - answer- The governor appoints
members to the AREC board, with advice and consent from the senate.
How many members of the board must have lived in Alabama and been a licensed
agent for at least 10 years prior to appointment? - answer- 7
All members serve _____ year terms. - answer- 5.
Appointments expire on what date? - answer- September 30th.
How many terms may you serve? - answer- No more than two consecutive terms.
At least _____ member of the board must be African American and appointed from any
congressional district. - answer- 1.
At least _______ member must be consumer appointed from any congressional district.
- answer- 1.
As a judicial body, the __________ has the duty and power to investigate claims of
licensee violations, hold hearings, and impose disciplinary action when required. -
answer- AREC
An ________ may include issuing subpoenas, hearing witness testimony, and
requesting pertinent documents and records. - answer- Investigation
When an investigation reveals _______, a formal complaint is filed and the AREC will
notify the licensee and the broker in _________. - answer- Probable Cause & (In)
Writing
When an individual or business entity is illegally preforming actions that require a real
estate license in the state, the commissions executive director may issue a
___________ order. - answer- Cease and Desist Order.
The accused may request a hearing, and, if the commission finds the accused guilty, it
may finalize the C&D order and impose fines for each violation. If no hearing is
requested, the order becomes final ____ days after it's served. - answer- 15.
If found guilty the commission has the power to: - answer- Reprimand the licensee,
require the licensee to take continuing education course work, revoke or suspend the
license belonging to the accused, impose a fine between $100 and $2,500 or any
combination of these.
The AREC has ____ days to give a written order concluding the hearing. - answer- 30
days.
, Accused licensees or other parties to the hearing who aren't satisfied with the
commission's final decision have ____ days to file an application for a rehearing. -
answer- 30 days.
A licensee must generally complete certain actions or conditions before a license
becomes active again. - answer- Suspended License
Licensee must wait at least ____ year (or longer if stated by the commissioner) before
applying for reinstatement. - answer- Revoked License.
Licensee can not renew license until the _________ is lifted. - answer- Restricted
license.
An appellant may file a notice of appeal within ___ days after the commission renders
it's final order. The notice and a $_____ appeal bond should be filed in the circuit court
of Montgomery County. - answer- 30 days. $200.
What does one do when they've been misrepresented and the licensee is found guilty
and the buyer is left with significant losses but the licensee has no money? - answer-
Seek help from the Alabama Real Estate Recovery Fund.
In order to seek refuge from the Alabama Real Estate Recovery Fund, the claimants
must: - answer- Notify the commission in writing, and send the notice via certified mail
with a return receipt requested.
Where does this fund money come from? - answer- The $30 fee required by
brokers/licensees to receive their license. If the fund falls below $500,000, AREC will
order each ACTIVE licensee to pay a $30 assessment fee to replenish the fund.
Claimants who win monetary awards in either a judgement or settlement against an
individual licensee may receive up to $_____
When the award is linked to a transaction, the claim limit is $____ no matter how many
claimants are involved. - answer- $50,000/$25,000.
When the AREC pays settlement or judgement claims made against licensees, it may
_______ their license. The AREC may also decline to grant those licensees a new
license until they have _______ the fund for any amounts paid on their behalf PLUS
12% annual interest. Bankruptcy ________ alleviate licensees' obligations to reimburse
the fund. - answer- Terminate. Reimburse. DOES NOT.
ONLY ___________ INDIVIDUALS MAY PREFORM ____________ ACTIVITIES ON
ANOTHER'S BEHALF FOR ____________________ - answer- LICENSED. REAL
ESTATE. COMPENSATION.
MY NEW MANTRA - answer- "On another's behalf, for compensation"
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