Unit Tests

How many hours of post-licensing education and continuing education (nine hour credit of post-licensing deducted) must a licensee complete after license issuance, and before the four-year license renewal in Georgia?

52

A person who doesn't owe either party any fiduciary duties and only introduces the buyer and seller is called a ____. A. Finder B. General Agent C. Limited Agent D. Special Agent

A

Bradley is acting as a finder for Emma. He's introducing her to Rachel, the other party in the transaction. Which fiduciary duties does Bradley owe Emma? A. A finder doesn't owe any fiduciary duties. B. He owes only the duties of confidentiality and loyalty. C. He owes only the duty of confidentiality. D. He owes the duties of obedience, loyalty, disclosure, confidentiality, accountability, and reasonable skill and care.

A

Bradley is acting as a finder for Emma. Which action can he perform? A. Introduce Emma to the seller (or buyer) B. Negotiate an offer for Emma C. None of these actions D. Present the offer on Emma's behalf

A

Broker engagement agreements must include all parties' signatures. Anyone who signs the agreement must receive a photocopy. What else is required? A. A definitive end to the brokerage engagement agreement B. Retention of the paperwork for two years C. The date the relationship began D. The type of relationship

A

Exclusive agency agreements provide sellers with the option to find a buyer themselves. If the seller finds a buyer, who earns the commission? A. No one B. The buyer's agent C. The listing agent D. The sub-agent

A

Gary is preparing to place a lockbox on the property that his brokerage has recently listed. Which of the following is true? A. He must get the seller's permission to place the lockbox. B. Lockboxes aren't a good idea. C. The lockbox can't remain on the property for longer than 60 days. D. The lockbox must be visible from the street. Continue to Unit 4: Compensation Alternatives in Georgia Return to Unit 3: Seller's Agent Responsibilities View Exam Results

A

In which of these situations would a listing be most likely to terminate due to listing agreement expiration?A. A market with high inventory and low demand B. A market with low inventory and high demand C. A moderately-priced home in a neighborhood slated for renewal D. A moderately priced home sold as-is in a market full of investors

A

Joan is representing the buyer, Carlton, and Reggie is representing the sellers, Zeb and Teresa Martin. Carlton's Great Aunt Matilda has agreed to pay any portion of Joan's commission the sellers don't cover. Teresa's father, Teddy, has agreed to pay half of the sales commission that will be owed to the listing agent. Which of these statements is true? A. Carlton and the Martins are the agents' principals in this transaction. B. Matilda and Teddy are the agents' principals in this transaction. C. Reggie's clients are Zeb, Teresa, and Teddy. D. Since she's paying Carlton's share of the commission, Matilda is Joan's client.

A

What's involved with the antitrust violation called market allocation? A. Agreeing with a competitor to divvy up a market B. Colluding on price with your competitors C. Deciding what commission rate to charge, based on location D. Lending only in specific areas

A

What's the longest sentence someone can serve in prison for an antitrust violation? A. 10 years B. 30 days C. Antitrust violations do not lead to prison sentences, merely fines. D. One year

A

When are flat fees paid? A. Either up front or at closing B. Flat fees are illegal C. Only at closing D. Only up front

A

When you're putting together a listing presentation, which of these is a key point to address? A. Buyers won't pay more for a home than the market dictates. B. Everything you talk about with the seller will change in six months. C. The house needs work before you can sell it for the right price. D. Your credentials are the best in the market.

A

Which of the following duties are still owed after a listing agreement expires? A. Confidentiality B. Disclosure C. Loyalty D. Reasonable skill and care

A

Which of the following is an example of illegal market allocation? A. Acme Realty and Hawthorne Realty Group agree to divide the city in half, each working its own half. B. Acme Realty and Hawthorne Realty Group each discuss with their licensees where the most lucrative deals can be found. C. Acme Realty and Hawthorne Realty Group each try to win the million-dollar listings. D. Acme Realty maps out a plan to dominate the eastern part of the city.

A

Which of the following provides an example of a universal agent? A. A court-appointed guardian B. Buyer's agent C. Listing agent D. Property manager

A

Which one of the following actions would be considered a real estate violation? A. Hailey ran out of copies of the brokerage engagement form, so she drafted a copy on a blank sheet of paper. B. Igor suggests his clients talk with an attorney about whether purchasing a property as tenants in common is a good idea. C. Jesse is working with an executor who asks what certain language in a will may mean. Jesse refers the executor to a lawyer for clarification. D. Kevin's clients ask whether a paper they have is a legal deed. He suggests they contact a lawyer.

A

Georgia seller Sharon signed an exclusive listing agreement with Daniel, which terminates on December 1. Sharon accepted an offer and signed a purchase and sale agreement on November 15. On November 25, the buyer's agent informed Daniel that the buyer was unable to secure financing and couldn't comply with the 10-day financing contingency in the contract. The extension clause in the GAR listing agreement extends the listing agreement to what date? A. December 11 B. December 15 C. December 31 D. This has no impact on the termination of the listing agreement.

A - The property was under contract for 10 days, so the extension clause extends the original expiration date by that many days. It moves from December 1 to December 11.

A. A fixed tax B. A gross receipts tax C. A net receipts tax D. An income tax

B

Acme Realty offers discounted services. Berringer Realty and Hawthorne Real Estate Group decide to not show any of Acme's listings and to prohibit showings from Acme buyers to drive Acme out of business. What is this an example of? A. A tie-in arrangement B. Group boycotting C. Market allocation D. Price fixing

B

After a few meetings, the Stinsons sign a listing agreement with broker Vera so she can sell their house. The house has already generated interest from a potential buyer named Sergei, who has spoken with Vera about the house's square footage and potential as an investment. Which of the following is true about this situation? A. Because Vera now has a sub-agency relationship with the Stinsons, she shouldn't talk to Sergei until the house is officially on the market. B. The Stinsons and Vera have brokerage relationship agreement. C. Vera has an agency agreement with Sergei. D.Vera should disclose the dual agency that has been created by her direct assistance to the buyer

B

An exclusive right-to-sell agreement must include ______. A. A protection clause B. A start and end date for the listing period C. The name of the attorney who drafted the agreement D. The seller's requested closing date

B

At a listing appointment, licensee Chet asks Sam, the seller, if his property is his own home or an investment property. Why would Chet ask this? A. Chet can only represent sellers if they're selling their own home; selling investment properties requires a different license. B. If the home is his own, he's likely to be purchasing a new one, so Chet has a chance to land two transactions. C. Investment homes are easier to sell because they're sold "as-is." D. Investment home sellers tend to be more emotionally attached because the homes bring them more income.

B

Candace and Phil Tolson listed their home for sale with Trent Richards, the broker for Richards Homes. Sadly, Trent became incapacitated due to a car accident. What's the status of the listing agreement? A. Because the listing agreement is with the brokerage firm, the agreement continues. B. The agreement terminates by operation of law. C. The brokerage firm can agree to terminate the agreement if the Tolsons choose to not work with another agent. D. The Tolsons may choose to terminate the agency agreement.

B

Deb, a licensee, is unhappy with the marketing materials a local company produced. While having coffee with Irving, a licensee with another firm, she tells him about her troubles and recommends he not do business with this company. Irving agrees and even volunteers to spread the word among his colleagues. What's this an example of? A. A tie-in arrangement B. Group boycotting C. Market allocation D. Price fixing

B

Douglas is the buyer's agent for a transaction in which May (from a different brokerage) listed her seller client George's property. From whom will Douglas receive his compensation? A. From George B. From his own broker C. From May's broker D. It depends

B

In states where they're legal, for which type of listing or listings may a net listing be used? Select the most complete answer. A. Exclusive right-to-sell only B. Open, exclusive agency, or exclusive right-to-sell C. Open listings only D. Open or exclusive agency only

B

James has just received his salesperson's license. Which of the following statements is true regarding his need for additional education? A. He must take 25 hours of post-licensing education in his first year, and an additional 15 hours of continuing education before his four-year renewal. B. He must take 25 hours of post-licensing education in his first year, and an additional 36 hours of continuing education before his four-year renewal. C. He must take 60 hours of continuing education within his first two years. D. He must take a 36-hour post-licensing course within his first year as a licensee.

B

Javier represents Marcus, who's selling his rental property to Ben. Ben is represented by another real estate licensee, Francis. What is Ben's relationship to Javier? A. Client and fiduciary B. Customer C. Customer and client D. Fiduciary

B

Kate allowed her license to lapse two and a half years ago. What does she need to do to reinstate her license?A. Kate can take the state licensing exam and waive the requirements for reinstating her license, and avoid paying any fees. B. Kate will need to complete all required continuing education as well as pay all applicable fees for her license to be reinstated. C. Kate will need to complete the pre-licensing course requirements and pay all applicable fees for her license to be reinstated. D. Kate will need to start all over again and go through the pre-licensing requirements, including completing the required pre-licensing coursework, exam, and application fees.

B

Larry is assisting a buyer who's making an offer on his client's listing. If Larry is too helpful to the buyer, what might occur? A. A potential bonus from the buyer B. Implied agency and undisclosed dual agency C. Implied friendship D. Undisclosed single agency

B

Paulo is a property manager for several large properties. Which type of agent is he in relation to the landlord/client? A. Dual B. General C. Limited/Special D. Unlicensed

B

Representing the sales price on a home as an amount greater than what it actually sold for is considered ______. A. An unintentional misstatement B. Kiting C. Puffing D. Upscaling

B

What can brokerages do to ensure licensees use technology properly? A. Forbid new technology from being used for marketing and communication. B. Have a solid policies and procedures manual in place. C. Review all communications sent between licensees and consumers. D. Track internet and phone usage.

B

What is considered commercial property in Georgia? A. Any building zoned commercial or industrial B. Any real estate except those with one to four residential units, vacant land, or agricultural land C. Anything other than residential property D. Property with an active commercial presence

B

What's the best strategy for pricing a home? A. Always go with what the seller thinks it's worth—the customer is always right. B. Prepare a detailed comparative market analysis and base the price on recent comparable sales. C. Price it higher than market value so buyers think it has more to offer and will schedule a showing. D. Price it lower than market value so that there are lots of offers and a bidding war.

B

When is dual agency allowed in Georgia? A. At closing B. With both parties' consent C. With either the seller's or the buyer's consent D. With the lender's consent

B

Which of the following actions performed by these licensed salespersons is a common real estate violation? A. Anna places a sign in the sellers' yard after receiving their permission. B. Benjamin places a lock box in an inconspicuous location on the sellers' property without their permission. C. Chad agrees to not place a sign or lock box on the property, as the sellers requested. D. Dennis agrees to be present for all showings.

B

Which of the following is true of agency agreements? A. A landlord and an agent will sign an exclusive-right-to-sell listing agreement. B. A listing agreement is an express agreement. C. An open listing agreement provides the highest form of protection for the listing agent. D. A property management agreement is an agreement between a landlord and a tenant.

B

Whose responsibility is it to supervise licensees and review transactional paperwork and advertising? A. Peers B. The broker C. The licensee D. The National Association of Realtors

B

Genevieve, who's taking a pre-licensing course, works as an unlicensed salaried employee at a Decatur brokerage. She's very good at bringing in new clientele, and the broker wants to reward her for her commitment to the firm. What do we know about this situation? A. Because Genevieve is a salaried employee of the firm, the broker may pay her an annual bonus for her referrals, per Georgia license law. B. If the broker compensates Genevieve for her referrals to the firm, he'd be paying an unlicensed individual for referrals, which is prohibited under Georgia law. C. If the broker compensates Genevieve, he'd be in violation of unfair trade practice law based on undisclosed compensation for real estate services, per Georgia license law. D. It's okay for the broker to compensate Genevieve for referrals because she's a pre-licensing student, which is an exception to the law.

B - The broker would be in violation of Georgia law because he would be compensating an unlicensed individual for a real estate business referrals. Only a licensee may receive referral fees.

A finder is a _______. A. General Agent B. Limited Agent C. Middleman D. Universal Agent

C

At the close of a real estate transaction, the ______ and the ______ of the transaction must reflect a zero balance. A. Checks, balances B. Deposits, account fees C. Deposits, disbursements D. Interest, disbursements

C

Bradley is acting as a finder for Emma. He's introduced her to Rachel, the other party in the transaction. Whom does Bradley represent? A. Both Emma and Rachel B. Emma C. Neither Emma nor Rachel D. Rachel

C

Charlie represents Sue, a buyer, in a transaction. A licensee from another firm represents the seller, Claude. Claude will pay a 6% commission to his listing firm, and that firm will split the commission with Charlie's firm. Charlie will be compensated through his brokerage. What's true about this situation? A. Charlie and the other licensee are engaging in undisclosed dual agency. B. Charlie's compensation comes from Claude, so Charlie is also Claude's agent. C. In this transaction, Charlie only represents Sue and the other licensee only represents Claude. D. Sue is now Charlie's customer because she's not compensating Charlie for his services as her buyer's agent.

C

Christy found a property that was For Sale by Owner and made an offer. The seller accepted Christy's offer, but neither of them knew how to proceed. Licensee Zelda helped Christy complete the necessary purchase documents and walked her through the process. What kind of agency exists? A. Confirmed Agency B. Express Agency C. Implied Agency D. Verbal Agency

C

Getting the best price is always a factor for a seller, but the ______ that it actually would sell for must be another consideration. A. Guesstimate B. Highest price C. Market Price D. Reduced price

C

Kennedy tends to be rather informal about her real estate business. Her daughter's teacher, Matthew, tells Kennedy that he'd like her help selling his house. Kennedy agrees and tells Matthew she'll perform all the tasks she'd perform for any listing, though she has no written agency agreement with Matthew. Do Matthew and Kennedy have a legal agreement? A. No. There's no signed agreement. B. No. Verbal agreements are illegal. C. Yes. Express agreements may be verbal or written. D. Yes. They have a verbal implied agreement.

C

Leigh Ann is a licensee. Her cousin, Carly, is interested in buying a house. Leigh Ann shows Carly how to look for properties online and runs some CMAs for her. When Carly finds a property she likes and asks Leigh Ann to help her make the offer, Leigh Ann decides she should ratify the agreement with Carly. What are Leigh Ann's options for accepting an agency relationship after the fact? A. Continue to assist Carly and have her sign an estoppel certificate. B. Leigh Ann's only option is to get a signed listing agreement. C. Prepare an agency agreement or continue to assist Carly with the purchase. D. Prepare an estoppel certificate and a listing agreement.

C

Mel, a Georgia real estate salesperson, recently declined to represent a Serbian couple who recently moved to Atlanta. He feels they require more detailed explanations of real estate transactions. In what way is Mel violating the unfair trade practices law? A. Mel is acting outside the scope of his license. B. Mel is being dishonest. C. Mel is discriminating. D. Mel is showing a conflict of interest.

C

What can be said about dual agency consent? A. It isn't required B. It must be oral C. It must be written D. It's illegal

C

What legal agreement is required when a licensee guarantees the sale of a property? A. A contingency written into the listing agreement B. A listing agreement that includes a special stipulation C. A purchase agreement written at the same time as the listing agreement D. A temporary lease to allow the licensee time to find a buyer Continue to Unit 1: Introduction to Agency in Georgia Return to Unit 5: Other License Law Matters in Georgia View Exam Results

C

When a licensee represents a seller, which one of the following statements is true about the licensee's ability to list other properties that are for sale? A. The licensee isn't permitted to list other properties for sale. B. The licensee is permitted to list other properties for sale as long as they're not competing properties. C. The licensee is permitted to list other properties for sale, even if they're competing properties. D. The licensee must list the seller's property only for the first 90 days, after which the licensee may list other properties.

C

When working with a seller, you signed a listing agreement that ensured you'd receive a commission, provided the property sold during the listing term. What type of listing agreement did you sign? A. Exclusive agency B. Exclusive right to collect commission C. Exclusive right to sell D. Net listing

C

Which of the following actions is a violation of unfair trade practices law? A. Advising a buyer client on the amount to offer in a sales transaction B. Identifying the availability of a home warranty for a property as part of the MLS listing C. Misrepresenting the facts about the reasons for a price decrease D. Presenting a seller client with a competitive market analysis and discussing a listing price for the property

C

Which of the following best describes a net listing? A. The seller and agent agree to split the profit from the proceeds of the sale. B. The seller reserves the right to sell the property and not have to pay a commission. C. The seller specifies a desired price for the property and agrees to pay the broker any amount received that's more than that price. D. The seller works with many agents, and only the agent who procures the buyer is owed a commission.

C

Which of the following is NOT a legal activity for a business broker? A. Assisting the buyer with due diligence B. Concealing the business's identity to protect the owner's privacy C. Conducting an appraisal of the business D. Requiring the prospective buyer to sign a confidentiality agreement

C

Which of the following is a possible outcome if a brokerage is found guilty of violating antitrust law? A. The brokerage may be required to place 10% of its profits in the Sherman Act Foundation for a period of three years. B. The brokerage may have to sell its assets to its nearest competitor at below-market rates. C. The brokerage may have to undergo court-ordered supervision for up to 10 years. D. The brokerage's listing fees may be limited to 80% of its former charges. Continue to Unit 1: Seller Agency Creation Return to Unit 8: Antitrust Laws View Exam Results

C

Which of the following is a true statement about federal antitrust penalties? A. Real estate brokers are immune from prosecution. B. The first offense results in a warning only. C. The maximum fine may be increased to twice the gain or loss involved. D. They cannot involve prison sentencing.

C

Which of the following is a violation of license law and is known as commingling? A. Failing to keep appropriate records of trust accounts B. Having more in a trust account than could be accounted for by trust funds C. Placing a client's trust funds in the firm's general business account D. Stealing a client's trust funds

C

Within a brokerage, who's responsible for supervising a team's unlicensed personal assistant? A. No supervision is required for unlicensed personnel. B. Office Manager C. Qualifying Broker D. Team leader

C

You're holding an open house for Brenda. Walt and Mary walk in and ask you for a flyer that gives details about the property. At this point, what's your relationship with Walt and Mary? A. Clients B. Confidantes C. Customers D. Friends

C

Your broker has received an earnest money check from you for a transaction. Where should this check be deposited? A. In an interest-bearing account B. In the firm's general business account, with a ledger entry for the client's name, labeled "trust fund" C. In a trust fund account D. In the firm's safety deposit box until closing

C

A consumer is moving to a new area and uses social media to try to line up a real estate professional to help him find a new home. He asks how much he'll need to pay his licensee. One firm he contacts tells him that all licensees in the area charge at least 2%. What antitrust violation does this imply? A. A tie-in arrangement B. Group boycotting C. Market allocation D. Price fixing

D

According to the Department of Justice, an agreement between competitors to establish or adhere to uniform price discounts is a type of which antitrust violation? A. A tie-in arrangement B. Group boycotting C. Market allocation D. Price fixing

D

An unrepresented ______ who's a party to a transaction is known as a principal. A. Agent B. Broker C. Client D. Customer

D

Any agreement between competing firms that restricts trade or discourages competition is a violation of antitrust law. An agreement between competitors to do which of the following is also an antitrust violation? A. Increase choices for consumers B. Increase the number of competitors in the field C. Join a professional association D. Restrict choices for consumers

D

Dana found a listing on the MLS that was perfect for her buyer. If blanket sub-agency existed, what would be true?A. Dana would get twice her usual commission. B. Dana would only be able to look at certain MLS listings. C. The buyer couldn't work with any other agents. D. The buyer would be an unrepresented customer. Continue to Unit 5: Agent Duties in Georgia Return to Unit 4: Agency Types in Georgia View Exam Results

D

Harriet, an out-of-state licensee, is friends with Tonya, a licensee who works with Perfectly at Home. Harriet referred one of her buyer friends to Tonya, so Tonya plans to pay Harriet a referral fee. Which one of the following statements about this fee is true? A. It's illegal for Tonya to pay an out-of-state licensee a referral fee. B. Referral fees have no disclosure requirements. C. Tonya must pay the fee directly to Harriet since Harriet is an out-of-state licensee. D. Tonya must pay the referral fee through her brokerage firm to Harriet's brokerage firm.

D

In a seller agency relationship, to which party does the licensee owe undivided loyalty? A. both the seller and the buyer B. the broker C. the buyer D. the seller

D

Jane is working with her first seller client. She's excited to begin marketing the property and to hold an open house. Which of the following is something she should do? A. Limit advertising. B. Only be present to open and close the house. C. Schedule the open house for a day and time when the owner can be present. D. Schedule the open house soon after the property listing hits the market.

D

Justin is representing the seller in a transaction. Which of the following tasks is he permitted to perform for the unrepresented buyer as a non-agent? A. Explain to a buyer the purpose of the seller's property disclosure. B. Help the buyer get pre-approved for a mortgage loan. C. Help the buyer interpret the title policy exceptions. D. Help the buyer structure an offer to the seller.

D

Kurt is pricing a home for a client in a cold market. It's a great property, and he knows it would sell for above market value if the market were better. All things considered, what's the best pricing strategy for the home? A. Price the home above market value. B. Price the home above market value and decrease the price after a month if it doesn't sell. C. Price the home at its exact market value. D. Price the home below market value.

D

Martin has a new listing. He wants to post a for sale sign in his seller's yard. What must he obtain before doing so?A. A flier box B. A permit C. A separate phone number D. The seller's written permission

D

In general, what is the term for a person who's been placed in a position of loyalty and trust? A. Attorney in fact B. Client C. Fiduciary D. Mortgage lender

Fiduciary

Rachel is talking with a co-worker, Shawna, about homebuying. Rachel shares some general market trends and talks about the impact of rising interest rates. She notes that the listing price of Shawna's neighbor's house seems lower than it should be, and then they talk about the importance of getting pre-approved for a loan early in the process. Which of her statements might have created an implied agency situation? A. Current market trends B. Loan Pre-Approval C. The impact of rising interest rates D. The listing price of the neighbor's property

D

What responsibility does the seller's agent have to the seller? A. Advocate for and ensure the sale is profitable for the seller. B. Advocate for the seller and help present the property in the best light, even if it means covering up material defects. C. Ensure the sale is profitable for the seller. D. Seek a sale at the best price at terms acceptable to the seller.

D

What would happen if a licensee fails to complete the 25-hour post-licensing requirement within the first year of receiving her license? A. A $1,000 fine applies. B. The license will be revoked. C. The license will be suspended. D. The license will lapse.

D

What's it called when a licensee performs tasks for, but doesn't represent, a customer? A. Designated agency B. Dual agency C. General Agency D. Transaction brokerage

D

What's required of a licensee who receives trust funds from a client? A. The licensee can deposit the funds within four business days of accepting them. B. The licensee must deposit the trust funds within 48 hours of accepting them. C. The licensee must deposit those funds as soon as practically possible. D. The licensee must turn the trust funds over to their broker as soon as practically possible.

D

Which duty requires the client to provide complete, accurate, and timely information to the agent? A. Availability B. Compensation C. Indemnification D. Information

D

Which of the following is an example of conversion? A. A broker accepts an earnest money check from a buyer. B. A broker deposits an earnest money check from a buyer into a trust account. C. A broker mixes trust funds with his own money. D. A broker uses client trust funds without the client's permission.

D

Which of the following statements about continuing education requirements is true for real estate licensees in Georgia? A. For each renewal cycle, 25 hours of post-licensing education and 36 hours of continuing education are required. B. For the first four-year renewal, only the 25 hours of post-licensing are required. For subsequent renewals, 36 hours of continuing education are required. C. For the first license renewal, licensees may opt to complete the 25 post-licensing hours and the 36 hours of continuing education at any time during the four-year renewal period. D. For the first renewal cycle, 25 hours of continuing education must be completed within one year of license issuance, and another 27 hours of continuing education are required.

D

Which of the following statements is true about the listing presentation? A. It's best to leave out financial data (such as a CMA or comparable property information) and listing agreements, so the seller doesn't think you're jumping the gun and already counting your commission. B. The less you say, the better. You don't want to overwhelm your clients with numbers and decisions at this first presentation. C. The most important part of a listing presentation is to make the buyers like you as a person. Try not to talk numbers or about their house, but instead focus on charming them. D.You should go into the presentation fully prepared with a comparative market analysis, listing agreement, MLS listings of comparable properties, and your plan for marketing the sellers' property.

D

Which of these depicts a Georgia licensee committing a common real estate violation? A. Audra likes to negotiate listing agreements with a term that's consistent with the length of time it takes a home to sell in the current market. B. Jonah discusses using a three-month listing period with potential seller clients. C. Serena tells her new buyer clients that she typically uses as six-month term for all buyer agency agreements. D. Tim includes an automatic renewal clause in his listing agreements in case his seller clients' properties don't sell by the end of the original listing agreement. Continue to Unit 4: Disciplinary Actions and Penalties for Violating Georgia License Law Return to Unit 3: Violations and Complaints under Georgia License Law View Exam Results

D

Which type of broker performs ministerial acts for parties to a transaction but doesn't represent a client? A. Broker non grata B. Material broker C. Ministerial broker D. Transaction broker

D

Why might a licensee want to make two visits to the property as part of a listing presentation? A. To find out how many licensees the seller will be interviewing, which will help determine how much effort to put into preparing a comparative market analysis B. To see if the sellers say the same thing both times C. To see the property at different times of day D.To use information from a tour to prepare the CMA

D

TF At the hearing, a license may not present evidence disputing the complaint.

F

TF If a license lapses for more than two years but fewer than five, the license can be reinstated after the licensee pay all fees and completes the pre-licensing education course.

F

TF Once a hearing has begun, it must be seen through to its conclusion.

F

The decision that arises from a hearing is final, and there's no appeal process.

F

TF If a complaint is made about a licensee, the licensee's broker is also notified.

T

TF If the complaint process warrants a hearing, the licensee will be given notice that the hearing will take place, including the date and the time the commission hearing is scheduled.

T

TF Prior to a hearing, the commission may issue a cease and desist order prohibiting any person from engaging in the practice of real estate without a license.

T

TF You must present every offer to the client, regardless of their instructions

T

TF If a license lapses for two years or less, the licensee may reinstate the license by paying all applicable fees, such as renewal fees, late fees, and reinstatement fees, and by completing the required continuing education.

T