Alabama license law - Study guides, Class notes & Summaries

Alabama License Law Questions and Answers Already Passed How many days does a licensee have to notify commission of criminal prosecution or civil complaint? 10 days How many days does the real estate commission have to notify licensee of time, date, and place of hearing? 15 days How many days does the commission have to render a decision? 30 days How many days does a licensee have after the date of the commissions final order to file for rehearing? 30 days After transaction closes qualifyin...

Alabama License Law Exam Practice Quiz with Complete Solutions A broker who operates a brokerage business within the corporate city limits of Montgomery Must be sure his/her office is located in property zoned for business. Any person desiring to make an appeal of a decision or ruling of the Commission to a court must post a satisfactory appeal bond in the amount of______? $200 Of the following, who would be exempt from the licensure provisions of License Law? Public officers performing their...

ALABAMA LIFE INSURANCE EXAM 2 2024 WITH 100% CORRECT ANSWERS UPDATED Dividend options are defined as ways in which the policy owner can: - ANSWERS receives dividends paid on any stock held A life insurance company may pay a death claim for less than the face amount of a policy under which of the following conditions? - ANSWERS All of the above Which policy will have immediate cash? - ANSWERS single premium The process of underwriting primarily involves what two key steps? - ANSWERS ris...

Binders (27-14-18) - A binder is an instrument designed to provide immediate, temporary insurance coverage. Binders can be either written or oral. In the state of Alabama, how long are binders valid? - 90 days or until a policy is issued. Whichever is less In the state of Alabama, if a policy has not been issued within 90 days, can a Binder be extended or renewed? - Yes. If a policy has not been issued within 90 days, a Binder may be extended or renewed with the approval of the Commissione...

Alabama License Law 100% SOLUTION a A licensee, who has satisfactorily completed the post-license course and whose original license has been issued, will not be subject to the continuing education requirements for the__________ renewal of his or her original license. a. first b. first and second c. first, second and third d. mid-year c A temporary license holder who does not complete the required licensure course within one year of license issuance, will cause his/her temporary li...

AMP Real Estate Exam - Alabama License Law Summary Questions with Answers Real Estate Broker - ***Any person, firm, or corporation branch office, that for a fee, commission, or other compensation, or the expectation of such, performs certain activities pertaining to real estate Do you have to have a real estate license to sell, exchange, purchase, rent, or lease real estate? - ***Yes Do you have to have a real estate license to offer to sell, exchange, purchase, rent or lease real estate? ...

What is the general thrust of real estate legislation? -Establish personal, educational, and professional requirements for obtaining a license -Establish statutory guidelines of professional conduct and continuing education to maintain a license -Establish a regulatory entity to administer and enforce licensing -Authorize the regulatory body to create regulations and procedures that will enable it to discharge its legal responsibilities Associate Broker Any broker other than a qualifying b...

The consumer member of the Alabama Real Estate Commission must be_____ years of age or older. -19 -20 -21 -24 21 Prior to the appointment of each original appointee to the Alabama Real Estate Commission, these persons must have been residents and citizens of Alabama for a minimum of -three years. -five years. -six years. -ten years. ten years Each member of the Commission____________________during the time in which he/she serves as a Commissioner. -performs without pay -rec...

Alabama License Law 100% PASS SOLUTION The consumer member of the Alabama Real Estate Commission must be_____ years of age or older. -19 -20 -21 -24 - ANSWER 21 Prior to the appointment of each original appointee to the Alabama Real Estate Commission, these persons must have been residents and citizens of Alabama for a minimum of -three years. -five years. -six years. -ten years. - ANSWER ten years Each member of the Commission____________________during the time in which he/s...