100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Montana Real Estate Exam Questions and Correct Answers | Latest Update $10.49   Add to cart

Exam (elaborations)

Montana Real Estate Exam Questions and Correct Answers | Latest Update

 9 views  0 purchase
  • Course
  • Montana Real Estate
  • Institution
  • Montana Real Estate

Who is not Required to have a Real Estate License -:- An auctioneer employed by owner an executor of an estate (acting under court order) government employee owners or lessors of their own property Who is Required to have a Real Estate License -:- broker of salesperson to negotiate sale ...

[Show more]

Preview 3 out of 16  pages

  • September 19, 2024
  • 16
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Montana Real Estate
  • Montana Real Estate
avatar-seller
TestTrackers
2024 /2025 | © copyright | This work may not be copied for profit gain Excel!




Montana Real Estate Exam Questions and
Correct Answers | Latest Update
Who is not Required to have a Real Estate License


✓ -:- An auctioneer employed by owner

✓ an executor of an estate (acting under court order)

✓ government employee

✓ owners or lessors of their own property




Who is Required to have a Real Estate License


✓ -:- broker of salesperson to negotiate sale or lease

✓ (without or without the expectation of getting paid)

✓ anyone showing someone else's property




The Board


✓ -:- Consists of seven people appointed by the governor

does not involve itself with commission disputes


does give advice regarding trust accounting rules




The Boards rules

1 | P a g e | G r a d e A + | 2 0 0 2 5

,2024 /2025 | © copyright | This work may not be copied for profit gain Excel!


✓ -:- The Boards rules are laws; violations are misdemeanors




The Board has the power to


✓ -:- subpoena documents

issue and injunction against any licensee


place a licensee on probation


suspend a license for one year


permanently revoke a license




If a broker's license is suspended


✓ -:- The board sends a stop order, cease and desist




Property Manager is


✓ -:- a person who will only lease property but not represent sellers of

buyers

may obtain a restricted Property Manager license and operate without a Supervising Broker




A licensed property manager cannot


2 | P a g e | G r a d e A + | 2 0 0 2 5

, 2024 /2025 | © copyright | This work may not be copied for profit gain Excel!


✓ -:- represent sellers or buyers

collect a referral fee for sending sellers or buyers to a broker




A Property Manager's license


✓ -:- is not needed buy a close relative of a property owner

a manager who works for only one owner


a person who managers not more than four residential units


a resident manager who is compensated with reduced rent




Brokers and Salespeople


✓ -:- may manage property without a property manager license




Brokers may


✓ -:- represent a seller or buyer by obtaining a written (listing or buyer

agency) agreement

represent the statutes of Montana




Broker is statutory if


3 | P a g e | G r a d e A + | 2 0 0 2 5

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller TestTrackers. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $10.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

81113 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$10.49
  • (0)
  Add to cart