Sponsoring broker Study guides, Class notes & Summaries

When must the Commission be notified of the closing of an Escrow or Rental Trust account? Select one: a. Within 5 days b. 10 days after closing the escrow. c. Commission does not have to be notified. d. Within 15 days. - b An applicant for a brokers license MUST: Select one: a. Have been an active agent for at least five years. b. Have been an active agent for at least four years. c. Have completed at least one year of college credit in real estate. d. Be at least twenty-five years ol...

How many days after passing the licensing exam does an applicant have in which to submit the affidavit of sponsorship to the Commission? - ACCURATE ANSWERS 90 The examination authorization form issued by the Commission will expire after: - ACCURATE ANSWERS 90 Days Which of the following documents is/are required of licensing applicants? - ACCURATE ANSWERS Proof of completion of the required real estate instruction hours. Verification of passing an equivalent real estate license examination...

NJ Real Estate 2024 Exam Questions with Correct Answers Broker - Answer-is authorized to operate a real estate business, hire salespersons, and to charge the public for services. Broker-salesperson - Answer-Has fulfilled all the requirements of a broker yet chooses to work in a sales capacity for and in the name of another broker. Continuing Education - Answer-All Broker, broker-salespersons, and salespersons licensees must complete 12 hours of approved continuing education courses befor...

CHAMPIONS LAW AGENCY If a broker has more than one place of business, a branch - ANSWERoffice license is required for each location. It is not necessary to have a licensed broker at each location. How can a broker terminate a sales agent? - ANSWERit must be done in writing, and the license must be returned to the Texas Real Estate Commission immediately How can a sales agent terminate with a broker? - ANSWERit must be done in writing The Texas Real Estate Commissions main focus is...

Illinois Broker Exam Questions and Answers 100% CorrectIllinois Broker Exam Questions and Answers 100% CorrectIllinois Broker Exam Questions and Answers 100% CorrectIllinois Broker Exam Questions and Answers 100% Correct appurtenance - ANSWER-A right, a privilege, or an improvement belonging to, and passing with, the land. real estate - ANSWER-an improvement to the land creates? 15 days - ANSWER-How many days does a sponsoring broker have to notify IDFPR of the loss of a managing broker? ...

B: Salesperson can accept compensation only from their sponsoring broker. - Answers -1-A broker legitimately may pay all or part of Real estate commission to a a. seller b. salesperson c. buyer d. friend who provides a listing lead C. As of July 1,2008 to become a broker you must be 20 years old. - Answers -2-The minimum age for a New York real estate broker's license is a. 19. b. 18. c. 20. d. 21. C: selling land at an auction. - Answers -3-Which of the following acts would requi...

Illinois Real Estate Practice Exam 1 Questions and Answers (Graded A)Illinois Real Estate Practice Exam 1 Questions and Answers (Graded A)Illinois Real Estate Practice Exam 1 Questions and Answers (Graded A)Illinois Real Estate Practice Exam 1 Questions and Answers (Graded A)Illinois Real Estate Practice Exam 1 Questions and Answers (Graded A) Which of these is a lien on real estate? - ANSWER-Recorded mortgage A sales contract was signed under duress. Which of these describes the contract?...

The Original Legislation: - The Real Estate Dealers Act of 1939 main piece of Texas law governing the licensing and behavior of real estate professionals in the state. - The Real Estate License Act (TRELA) Licensing Duties were added in: - 1955 Broker license was changed from 2 years in the 36 month before the application to: - 4 Years in the 60 months before application TREC is the agency in charge of overseeing the licensing and professional activities of: - -Real estate brokers -Real ...

To practice real estate in Illinois, brokers must be sponsored by a ______. - Sponsoring broker Reciprocal applicants must associate with an Illinois sponsoring broker T/F - T When must licensees in Illinois notify the Division of Real Estate of a change to their office location? - Within 24 hours Reciprocal applicants must submit a written statement giving the state of Illinois permission to transfer your license from the other state. t/f - T What are the main ways that license laws ensu...

AREC Exam Study Guide QUESTIONS AND ANSWER 2024/2025 FULLY SOLVED 100% Woodrow helps his neighbor sell his home by assisting with negotiations. He receives no compensation for his assistance. Based on this transaction, Woodrow _____ Doesn't need a real estate license What must you have to apply as a real estate salesperson in Alabama A sponsoring broker Daisy holds a real estate license in Mississippi and looking to obtain a reciprocal license in Alabama. Which requirement must she meet?...