Guilty of commingling - Study guides, Class notes & Summaries

Tennessee License Law Enforcement Overview with Complete Solutions TREC may impose a civil penalty on unlicensed persons of up to what amount per violation per day? A) $3,000. B) $1,000. C) $4,000. D) $2,000. B) $1,000. Regarding E&O coverage for the firm, A) the minimum coverage must be at least $1,000,000. B) the amount of coverage is determined by the number of affiliated licensees. C) E&O coverage is not required, but bonding is. D) E&O coverage is not required. D) E&O co...

All of the following are features and requirements of the Living Needs Rider EXCEPT - Diagnosis must indicate that death is expected within 3 years. All of the following applicants for an insurance producer license are exempt from prelicensing education requirements EXCEPT - An applicant for a dealer's license. A couple owns a life insurance policy with a Children's Term rider. Their daughter is reaching the maximum age of dependent coverage, so she will have to convert to permanent insur...

GEORGIA REAL ESTATE LICENSE LAWS AND RULES QUESTIONS AND ANSWERS, 100% ACCURATE, GRADED A+/ VERIFIED. Which of the following would NOT be a violation of the Georgia License Law? A) Falsifying a document used in a real estate transaction B) Failing to advise your broker in writing when buying or selling property for yourself C) Failure to give a copy of a signed offer to the purchaser D) Failure to put a street adress in a legal description - -D) Failure to put a street adress in a legal ...

Pete is a sole proprietor broker and has six salespeople who he employs. On June 9th, Pete is killed in a car accident. Tom is one of the salespeople and his listing is set to close on June 20th. What will happen to the proposed closing? A). Nothing will happen. Business will go on as usual with the salespeople in charge until a new broker is found. B). The estate will notify the Commission within 15 days of death and tell the Commission that a new termination broker has been found. Th...

1. To be licensed as a real estate broker, an individual must be at least how old? a. 16 b. 18 c. 20 d. 21 - ANSWER c. 20 2. Which of the following individuals is exempt from licensure? a. attorneys admitted to practice in the New York courts b. property managers who manage property for more than one individual or company c. individuals who only list property for sale d. auctioneers who only auction commercial real estate - ANSWER a. attorneys admitted to practice in the N...

NV Common Law Quiz with 100% Correct Answers A foreign insurer has its home office where? a. In this State b. In a state other than Nevada c. In more than one state d. In another country - Answer- b. In a state other than Nevada... Books and records related to the business of insurance must be kept for how long? a. 1 year b. 4 years c. 2 years d. 5 years - Answer- d. 5 years All of the following would be practices prohibited by Nevada's Unfair Discrimination laws except: a. Denying...

To be licensed as a real estate broker, an individual must be at least how old? a. 16 b. 18 c. 20 d. 21 c. 20 2. Which of the following individuals is exempt from licensure? a. attorneys admitted to practice in the New York courts b. property managers who manage property for more than one individual or company c. individuals who only list property for sale d. auctioneers who only auction commercial real estate a. attorneys admitted to practice in the New York courts 3...

1. To be licensed as a real estate broker, an individual must be at least how old? a. 16 b. 18 c. 20 d. 21 - ANSWER c. 20 2. Which of the following individuals is exempt from licensure? a. attorneys admitted to practice in the New York courts b. property managers who manage property for more than one individual or company c. individuals who only list property for sale d. auctioneers who only auction commercial real estate - ANSWER a. attorneys admitted to practice in the N...

Trust accounts are designed for correct answers other people's money. The Real Estate Trust Account can draw interest not to exceed ____% correct answers 0 According to Utah Law, the earnest money must be deposited within _______ business/banking/working days. correct answers 3 In the real estate trust account, the broker can deposit no more than $________ of his/her own money. correct answers 500 If brokers place more than the allowed amount of their own money in the trust account,...

1. To be licensed as a real estate broker, an individual must be at least how old? a. 16 b. 18 c. 20 d. 21 - Answer c. 20 2. Which of the following individuals is exempt from licensure? a. attorneys admitted to practice in the New York courts b. property managers who manage property for more than one individual or company c. individuals who only list property for sale d. auctioneers who only auction commercial real estate - Answer a. attorneys admitted to practice in...