Chapter 2 - Quiz -2

The Commission keeps electronic licensing records for...?

15 years

Every salesperson has to provide the Commission with evidence that they completed a ............ post-license course within one year of obtaining their license.

25-hour

Prince Stover moves his Athens brokerage to a location with more foot traffic. He must notify the Commission within ............ days of his new address.

30.0

If you serve in the army reserve and are studying to be a broker, you effectively get 10 points added to your score. Which of the following is true?

5 points are added in each of Information Gathering and Decision Making sections.

Candidates taking a licensee exam who are eligible active duty military and reserve personnel receive a...?

5-point credit

Glenn Thomas is a broker who sold a house for the Houstons 2.5 years ago. Glenn must retain all documents related to the sale of the home for at least...?

6 months

What is the term that refers to someone who has completed the requirements for a license, submitted a complete application, and paid the correct fee?

Applicant

............ includes photos, print, broadcast, and Internet outlets.

Media

............. suspended due to nonpayment or failure to meet educational requirements costs $100 if submitted within four months of the lapse.

Reinstating a license

Milagros Hernandez has been denied a license after completing all the requirements and based on a prior conviction. She has requested a hearing, which upheld the decision to deny her license. If Milagros wants to request a new hearing, what steps must she take first?

She must retake the relevant educational courses and pass the state exam prior to making another written request for a hearing.

Maeve O'Donnell doesn't take the post-licensing course within one year of receiving her license. She then lets her license lapse for more than five years. Which of the following is required in order for Maeve to practice real estate again?

She needs to reapply as an original applicant.

A licensee cannot falsify a record, or knowingly allow a record to be falsified, either orally or in writing, by a third party. This rule covers the following misinformation, EXCEPT:

The actual real lease, sales, or exchange price

A candidate for a broker or an associate broker's license can fulfill the experience requirement based on experience in another state. Typically, they must prove they had an active license for three out of five years just prior to applying to the Commission. Which of the following is the best answer choice:

True (T)

If the Commission denies your application based on a conviction or disciplinary action, what rights do you have?

You have the right to a hearing for a final determination.

Any ............ that applies for a broker license must submit a copy of its ............ agreement and its Certificate of Trade Name, filed with the Clerk of the County.

partnership

Sales agent Lisa Pringle sells the McDonalds' home to a buyer Lisa also procured (who is also related to Lisa). Lisa negotiated a $30,000 discount off the original sales price from the motivated sellers. In exchange for the lower sales price, Lisa promises the McDonalds new living room furniture for another home she plans to sell to them. This is a violation of the ............ unless Lisa discloses it on the closing documents during the sale of the McDonalds' house.

rules for consideration