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Montana Law - state portion of exam; Questions and Answers Rated A+
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Montana Law - state portion of exam; Questions and Answers Rated A+
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Montana Law - state portion of exam; Questions andAnswers Rated A+
How many members are in on the Board of Realty Regulation, who appoints them, and where
are they located? Correct Ans-7 persons, the Governor, Helena
What power does the board have? Correct Ans-Subpoena documents and witnesses
Issue an injunction against any licensee
Reprimand a licensee
Place a license on probation
Suspend a license for one year
Permanently revoke a license
The boards rules are laws, what is the charge for violating them? Correct Ans-A
misdemeanor offense, but not a felony.
Who is NOT required to have a real estate license? Correct Ans->Owners or Lessors selling
or leasing their OWN property.
>Auctioneers employed by an owner.
>Anyone acting under court order - e.g. A sheriff conducting a sheriffs sale.
, Montana Law - state portion of exam; Questions and
Answers Rated A+
>People buying or selling road right-of-way or buying or selling oil and gas leases.
Who is required to have a broker or salesperson license? Correct Ans-A broker or
salesperson negotiating the sale or leasing of real estate with or without the expectation of
getting paid.
What is the magic number for most of the TQ's in the state portion of the exam? Correct
Ans-10.
A salesperson whose supervising broker dies, is disabled (no longer licensed) and they MUST
notify the board within 10 days.
If the salesperson desires to switch brokers they must notify the Board within 10 days and
obtain a new license card prior to performing any license related activities for the new broker
- all previous listings and transactions remain with the old supervising broker
Money held in the trust account, which is payable to the broker at closing must be withdrawn
within 10 business days after closing (to not risk co-mingling bc now it is personal money).
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