Timeshare 11 - Study guides, Class notes & Summaries

How long must brokers keep real estate transactions records? - 5 (five) years What is right of the commission to allow licensees in other states to receive a license in on state if that state allows our licensees the same privilege? - Reciprocity Subject-to - The buyer acknowledges the debt and agrees to pay the debt, but if the buyer defaults, the seller is liable for repayment of the debt. Real Estate Commission members serve - 6 (six) year terms Members of The LA Real Estate Commission ...

NMLS EXAM 1 Questions with Complete Solutions 7) Which of the following agencies reviewed and approved the model state law written by CSBS and AARMR: A. HUD B. USDA C. Dept of Veterans Affairs D. OTS - Answer-A. Yes, the Department of Housing and Urban Development reviewed the legislation for definitions, education and testing requirements, financial responsibility and criminal background standards for MLOs and found it met the minimum requirements for the SAFE Act. 8) According to th...

PSI Exam – National Practice Questions and Answers (100% Pass) Prior to the ______, there was no legal protection for women who endured sexual harassment from landlords and sellers when they attempted to obtain housing. - Answer️️ -Housing and Community Development Act of 1974 The Federal Trade Commission determines penalty severity based on __________. Penalties range from a cease-and-desist order to corrective advertising, civil penalties, consumer and other monetary remedies, and ...

1. The real estate market is local in nature what does that mean? - ANSWER Information about real estate can best be found through local sources, which makes the real estate market local in nature 2. You would expect a real estate licensee to perform all of the following activities, EXCEPT: A. Providing expert knowledge about construction methods and materials B. Providing expert knowledge to members of the public in the performance of specified services of real estate C. Following up wi...

1: THERE ARE NORMALLY THREE METHODS OF SCHEDULING FRACTIONAL OWNERSHIP. WHICH OF THE FOLLOWING WOULD BE CHARACTERISTICS OF FLOATING WEEKS OF FIXED ROTATIONS? PACKAGE OF WEEKS THAT VARY FROM YEAR TO YEAR 2: THERE ARE NORMALLY THREE METHODS OF SCHEDULING FRACTIONAL OWNERSHIP. WHICH OF THE FOLLOWING WOULD BE CHARACTERISTICS OF FIXED WEEK SHARED INTEREST? A. SAME WEEK YEAR AFTER YEAR 2: THERE ARE NORMALLY THREE METHODS OF SCHEDULING FRACTIONAL OWNERSHIP. WHICH OF THE FOLLOWING WOULD ...

NMLS EXAM 1 Questions with solutions 2024 1) Mortgage loan fraud is reported at what level? A. State B. Federal C. County D. City B. Mortgage Fraud is reported to the FBI and to HUD ( The United States Department of Housing and Urban Development is a Cabinet department in the executive branch of the U.S. federal government) 2) Title V of the Housing and Economic Recovery Act (HERA) of 2008 is best known as: A. The SAFE Act B. RESPA C. TILA D. CRA A. S.A.F.E --The complete na...

Pearson Vue Texas RE Study Guide 2024 with 100% Complete Solutions TRELA - Answer- Texas Real Estate License Act - Law that governs real estate licensees and sets the power for TREC TREC - Answer- Texas real estate commission TREC Composition - Answer- Nine Members - 6 brokers - 3 members of the general public Appointed by the governor, with advice and consent of state senate, to staggered six- year terms One broker designated by the governor as chairperson TREC Duties - Answer- 1) Ma...

Chapter 1 Montana License Law 1. Board of Realty Regulation: - ️ Consists of 7 members, appointed by the Governor. 2. Civil and Criminal Penalties for Unauthorized Real Estate Activity: - ️ Misdemeanor; - First Offense: Fined $100-$500 or imprisoned for 90 days, or both. - Subsequent Offense: Fined $500-$2,000 or imprisoned for 6 months, or both. 3. Real Estate Recovery Account: - ️ Fund within the state special revenue fund to pay claims against licensees. Board maintains a min...

Pearson Vue Texas Real Estate Review Stu TRELA Texas Real Estate License Act - Law that governs real estate licensees and sets the power for TREC TREC Texas real estate commission TREC Composition Nine Members - 6 brokers - 3 members of the general public Appointed by the governor, with advice and consent of state senate, to staggered six-year terms One broker designated by the governor as chairperson TREC Duties 1) Make and enforce rules and regulations 2) Establish Sta...

Compucram Practice question with complete solution rated A+ 2023The Pennsylvania Real Estate Commission may enforce its power to issue disciplinary action upon which of the following? a. An investor misrepresenting a property b. An auctioneer selling property at a bona fide auction c. An attorney-at-law selling a property in an estate sale d. A vacation timeshare salesperson - correct answer d. A vacation timeshare salesperson T or F: The Real Estate Commission may issue disciplinary act...