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WV Real Estate FINAL EXAM2024 QUIZ WITH VERIFIED ANSWERS | LATEST 2024/2025
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WV Real Estate FINAL EXAM2024 QUIZ WITH VERIFIED ANSWERS | LATEST 2024/2025
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WV Real Estate FINALEXAM2024 QUIZ WITH
VERIFIED ANSWERS | LATEST
2024/2025
,The purpose of the West Virginia License Act is to
---
limit competition in the real estate industry.
protect the public in real estate transactions.
regulate the limit for brokerage compensation.
impose license fees to generate income. - ✔✔ANSWER✔✔-
protect the public in real estate transactions.
West Virginia law requires all advertising placed by salespersons
and associate brokers include
---
the licensees license number.
name of the salesperson or associate broker.
,the employing broker's name.
all of the above. - ✔✔ANSWER✔✔-the employing broker's
name
Jim acquires a West Virginia broker license. He wants to sell real
estate without opening a business so he decides to remain at
his salespersons desk on the sales floor at Acme Realty. Jims
license status will be that of a(n)
---
associate broker.
Salesperson.
broker apprentice.
designated broker. - ✔✔ANSWER✔✔-associate broker.
Salesperson Sharon received a $3,000 deposit from a buyer on
Tuesday morning and gave it to her broker before noon. The
brokerÂs normal banking day is Tuesday and the seller wonÂt
be available until Thursday, so the broker placed the funds in
, her personal checking account until the seller returns. The
broker:
---
can hold the funds until the seller accepts or rejects the offer.
must wait for the seller's signature before depositing the funds.
may be sanctioned by the Commission and lose her license.
should have waited for the seller's oral instructions before
depositing the money. - ✔✔ANSWER✔✔-may be sanctioned by
the Commission and lose her license.
A broker who changes his or her business address must notify
the Commission of the address change within how many days?
---
30
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