On what date do all Arkansas real estate licenses expire? True of False, A smaller home is surrounded by larger, more expensive homes. d. Competition between brokers may lead to disputes, c. To protect public health, safety and welfare, Real estate service to the public may be provided by: b. a. a. Flashcards & Study Guides With Real AR Test Examples If the buyer defaults, this means the seller, The clause in a contract that makes timely performance a condition of the contract is called, All of the following provisions would typically be included in a property management agreement EXCEPT. The original tenant. Go to work immediately upon receiving a license, Except for stated exemptions, the laws allows dealing in real estate without a license: All licensees advertising properties must include the name of the licensee's firm. Time-share agents must individually be bonded in an amount of $10,000.00. c. Dictated by the governor Boat Belting then collects cash on April 24 when the exchange rate for a peso is$0.099. The exams are written under the supervision of the commission and administered by an independent testing company. Let's start your studying right now! b. Multiply all denominators, divide that number into 640. c. Can be temporarily employed for up to 30 days awaiting their license All of our 1,000 Arkansas real estate practice exam questions are similar to the ones you will find on the actual Arkansas real estate exam, and are written by a Licensed Real Estate Instructor. Real Estate Exam; California Real Estate Test 1; California Real Estate Test 2; California Real Estate Test 3; Real Estate Exam Questions; Real Estate Test; The seller has agreed in principle to making certain repairs prior to closing. Have part time agents working under them c. Part of the exclusionary clause in a contract An applicant for the salesperson licensing exam must successfully complete a Commission-approved real estate course of ____ hours and pass the salesperson's examination. Licensees are not allowed to practice real estate independently from their principal broker or executive broker. a. d. Must be renewed annually, All of the following regarding the holder of an inactive license are true EXCEPT: Scarcity means that there is a limited supply of similar properties. An executive broker can bring a suit against the public if they fail to pay the commission due. The purchaser has defaulted; In an open listing, the seller is obligated to pay the listing broker a commission only if the listing broker is the procuring cause of the sale. Must always give the principal broker the deposit A broker is required to display, at their place of business, the license of all agents in their firm. An executive director administers the operations of the commission. When an actual introduction has taken place. When a formal complaint is filed against an agent, the agent has twenty (20) days to file a response. d. Is automatically entitles to a license upon the residency requirement being met, c. Submit their experience to the commission for consideration, A salesperson may renew their license annually by: Fines not exceeding $10,000 for each offense Arkansas Real Estate Test Prep - State Test Only $62.00 Add to Cart 86.5% of CompuCram users pass their licensing exam the first time! c. Without recourse Is concerned with the profit margin of the company d. A self employed builder of homes, c. A licensee working under a principal broker in buying or selling real estate, All of the following are exempt from requiring a real estate license EXCEPT: The Commission will not investigate a complaint unless it has ben filed within three (3) years of the occurrence. d. Voted upon every 4 years by members of the local board, a. a. The basement damage is an example of a. c. The Administrative Real Estate Action Code c. Must hold a teaching credential Both Sales and Broker licensees' must complete post-license education within the first year of getting their license. Must immediately be deposited in an escrow account Go to work immediately Which of the following actions would be seen as unauthorized practice of law? CompuCram's real estate sales agent exam prep product provides all the tools and resources necessary to pass the real estate exam the first time. d. May require documents to be provided to the commission, d. May require documents to be provided to the commission, Costs for procuring a witness to the commission s paid for by: Special, or limited, agency. Generally, you can expect that your state real estate agent license exam will consist of 80-100 multiple-choice questions about general real estate concepts and 60-80 questions specific to state licensing laws. The Arkansas Real Estate License Examinations are developed and administered by Pearson VUE, a National Independent Testing Company. The Commission has the power to suspend or revoke a license. c. Can be appealed to the state court within 3 months a. A court action to stop violators from continuing unlawful acts, People enjoin from certain acts are likely to be legally stopped by: b. What effect does the sale have on the lease? Proof of completion of 45 hours of Pre-License Education. a. Arkansas Real Estate Chapter 7 - 36 cards asdfghkjl - 24 cards ASREB A 1-3 - 6 cards AZ Real Estate License -CH1 - 20 cards AZ Real Estate Prep - 91 cards AZ Test Questions - 110 cards Basic Appraisal Principles - Key Terms - 161 cards Basic Appraisal Procedures - 122 cards Basic appraisal procedures - 138 cards The REALTORS association does not appoint the Arkansas Real Estate Commission members. c. A simple quorum a. d. Be at least 18 years of age, The maximum amount of hours required by the commission for a salesperson license is: Must submit the signatures of three people who vouch for his integrity English..There are 1,216 incorporated cities in the state of Texas. The broker should: A cooperating broker The deed conveys to the town, As mandated by federal do-not-call legislation, real estate licensees may call consumers with whom they have established a business relationship up to. All filing fees in an appeal must be paid within thirty (30) day s notice of the amount. b. Assess exemplary damages A breach of ethics Study sets, textbooks, questions. Is exempt from the licensing requirements. Fees: Examination Fees (Broker: $58) License (Broker: $125) For managing brokers: Proof of age 20 and above. *Failure to account for moneys belonging to other parties. d. Must be given to the principal broker, Records of transactions of real estate sales: The party requesting the witness Must take all educational requirements required by a beginner b. The name of any lien holders This right is known as an equitable right of redemption. Acting under the direct written instructions. Any competent individual Verified by the principal broker b. Terms in this set (350) principal broker inform any prospective buyers of the defect. The principal broker: the boss. Must hold an active real estate license Broker applicants must provide proof of licensure as an active real estate salesperson or broker for at least____ months within the previous ____ month period preceding the date of application. Any appeal of a ruling must be filed within 15 days from the ruling date. The real estate licensee is automatically suspended. *condemnation or destruction of the property (The certificate is due no later than the end of the month one year following the date of initial licensure.). Features of Arkansas Real Estate License Exam Prep (AR-RELEP):National Principles & Law Key Point Review (60 pages)Real Estate Math Key Formula Review & Practice (17 pages)Arkansas-Specific Laws and Practices (28 pages)National Practice Tests (500 questions)Arkansas Practice Tests (100 questions)Arkansas Sample Exam (100 questions)We know the real estate licensing exam can be tough, and very . a. However, Arkansas law does not require real estate licensees to disclose information about stigmatized property. When does a licensee have to file an appeal of ruling? d. Expires at the end of 30 days, Signs require all of the following EXCEPT: d. The principal broker must approve of their transfer, c. The commission needs to be notified of the transfer, A licensee tells their principal broker that they lost their pocket card. d. Apply for review within 3 days, c. Be punished by all the power of a circuit court, Upon passing the real estate exam, a person may: Must still be accountable to the commission for their actions, Inactive licenses: d. May take only the Arkansas Law portion of the exam, b. For brokers: Proof of age 18 and above. How will each error come to the bookkeepers attention, other than by chance discovery? A "classroom hour" is at least 50 minutes long, but never longer than 60 minutes a. What type of agency gives the agent the authority to conduct specific activities which upon completion terminates the relationship and does not bind the principal to a contract? At first contact. Camp Real Estate School - now a part of Arkansas Real Estate School | Website: Class Type: | Salesperson Pre-License | Salesperson Post-License | Broker Pre-License | Broker Post-License | Continuing Education | Online Education | Address: 11220 N. Rodney Parham, Ste. When selling or renting their own personal owned properties, an agent can use "for sale by owner" or "for rent by owner" signs. Offers received by selling agents must be presented to the listing firm by the close of the following business day. d. Will be processed because of the grace period, The commission may process an application without penalty received on October 2nd because: Arkansas Real Estate Exam Term 1 / 59 Equatible Click the card to flip Definition 1 / 59 A buyer makes an offer on a seller's house, and the seller accepts. The listing agent b. The agent represents one party in a transaction. Term. The day of closing, the escrow's closing agent called to tell the broker the $500 was missing. The Real Estate License Exam is composed of between 100 and 150 multiple-choice questions. d. A "point of departure" in negotiations, a. Who is responsible for a branch office's trust account? Mortgage brokers do not provide loans, handle escrow funds, or check borrowers' creditworthiness for loans. c. The commissioner d. Outside of state jurisdiction, An appeal after a dismissal of complaint: Can a licensee sell a house without going through the brokerage? The maximum amount that can be paid from the recovery fund for the multiple acts of any one (1) licensee is $75,000.00. d. Cannot advertise their own home, c. Must include the fact that they are an agent in selling their home, If not disclosed by the seller, an agent working for the seller: Disaster relief for real estate professionals If a salesperson leaves their broker what must happen? b. b. b. Which currencies weakened? The type of listing contract that provides for payment of a commission to the broker even though the owner makes the sale without the broker's aid is called, Antitrust laws prohibit all of the following EXCEPT. c. Is no longer considered liable in lawsuits Pearson VUE works with each state real estate commission who use the Real Estate Examination Program (REP) to provide a Candidate Handbook for each state that includes general information regarding the exam, testing process, and license requirements and eligibility. Is illegal Depositing non-trust monies in the trust account. Find Exam Details. With a local real estate licensee, she signed exclusive right-to-sell listing agreement. The topics on the test include: Duties and Powers of Real Estate Licensing Requirements Statutory Requirements Governing the Activity of Licensees Miscellaneous Statutes Agency Relationships and Disclosures Can you take the Arkansas real estate exam online? _____ of these must be at least 60 years of age and represents the elderly. b. Interactive study tools, dynamic practice tests & simulated exams to help you pass the state portion of the Arkansas real estate exam the first time. b. In Exercises 111 through 121212 , plot the slope field for the given differential equation and use it to sketch the graph of the solution that passes through the specified point. The members of the board are appointed by the governor and approved by the senate. Can a licensee pay an unlicensed person for leads? Will be returned a. a. b. b. Download Real Estate Prep app now. The owner couldn't afford the repairs, so he constructed a false floor over the entire basement and installed carpet over the floor to conceal the damage. Is barred legally from commercial intervention d. An immediate family member of a salesperson, who is asked to procure clients for a consideration, The terms "real estate" and "real property": Immediately- Earned professional fees or compensation are considered the broker's personal funds and must be withdrawn from the trust account immediately. b. The company is allowed to continue operating the plant under the new zoning classification as a nonconforming use. d. Is voluntary, In determining recipients of the trust account program the commission: Commissioners who come from the real estate industry must have been licensed for a minimum of seven (7) years.