Real estate montana - Study guides, Class notes & Summaries

Denial, Suspension, or Revocation of License or Application - -false info in application -failed to follow provisions/rules with timeshare business -convicted of felony -prohibited by court -hasn't complied with board conditions or violates standards of practice Selling/ transferring a time share - -must be registered with the state of Montana -provide a prospective purchaser with a written public offering statement before the prospective purchaser signs an agreement for the purchase of ...

MONTANA REAL ESTATE EXAM QUESTIONS AND ANSWERS, GRADED A+/ 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 appo...

A MT broker must keep trust account records for? - 8 years If a zoning ordinance conflicts with a restrictive covenant: - The more limiting of the two controls Pierce has a buyer broker agreement. Pierce may legally receive a commission from? - Any party with the knowledge and consent of the buyer I really state licensee should disclose known defects to the buyer in which of the following situations? - In all situations Sarah is a licensed real estate broker who does not have a listing, is...

Chapter 1: Montana License Law Exam Questions With Verified Answers The Board Of Realty Regulation Consists of how many members and how are the members appointed? - answer7 members and are appointed by the governor What are the Civil and Criminal Penalties for those engaging in real estate without a license? - answerGuilty of a misdemeanor First Offense will be fined b/t $100-$500 or imprisoned for 90 days or BOTH Subsequent Offense will be fined b/t $500-$2,000 or imprisoned for 6 months...

Montana Real Estate Exam 1. A MT broker must keep trust account records for: ️ 8 years. 2. If a zoning ordinance conflicts with a restrictive covenant: ️ The more limiting of the two controls. 3. Pierce has a buyer broker agreement. Pierce may legally receive a commission from: ️ Any party with the knowledge and consent of the buyer. 4. A real estate licensee should disclose known defects to the buyer in which of the following situations? ️ In all situations. 5. Sarah is a ...

Montana real estate exam questions and answers 100% correct A MT broker must keep trust account records for? - Answer- 8 years If a zoning ordinance conflicts with a restrictive covenant: - Answer- The more limiting of the two controls Pierce has a buyer broker agreement. Pierce may legally receive a commission from? - Answer- Any party with the knowledge and consent of the buyer I really state licensee should disclose known defects to the buyer in which of the following situations? - An...

Montana Law Questions and Answers Graded A+ A salesperson who discovers defects on a listed property should advise: Both the buyer and seller. A salesperson should: Give earnest money to the broker. License revocations or suspensions may be appealed to: The district court. The principal broker's license is revoked. The other broker and salesperson's licenses in the office are: Suspended. The amount of the sales commission is contained in the: Listing. A salesperson with ...

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