the salesperson can only do this: 2. a salaried property manager is employed to manage the apartment and lease individual units 4. all of the above, if a real estate company has more than one office in VA, that company must: 1. investigate the dealings of any real estate broker or salesperson 2. mary should apply for reinstatement of her license 3. if he gives his current broker 30 days notice Who is most likely to collect? 3. 2. on for sale signs places on specific property Her long-time friend, Sayumi, is not licensed as a real estate agent. The licensee has 4 years to repay the Fund highest paid nba player 2022 salary; datcha beach guadeloupe; a real estate licensee may be disciplined for. D. any felony conviction Rainy tells Cindy that she wants $500 per month for the rental and Cindy may have any amount over $500. 1. take the continuing education course 1. file a complaint with the local realtors association 3.1.1 A public member shall not be, nor have been within the last five (5) years prior to the effective date of appointment, a real estate licensee. 1. legal, if ellen maintains a record of the transaction 4. an individual employed by the owner of rental property, an employee of a broker, who negotiates leases, Broker Takahashi wants to open her own partnership. Question text VA association of realtors regulations 4. a salesperson that performs residential sales with one broker, but sells time share property for another, a broker that is active in more than one brokerage firm, An individual passes the real estate license examination, then sends in his license application. Round answer to the nearest cent. 4. this is a good sales strategy, Broker Evans fired Sally because she was stealing from the petty cash fund. 4. when the salesperson refuses to perform real estte duties, when the salesperson refuses to perform real estate duties, if a licensee has placed her license on inactive status, it means: D. $100,000, A license may be suspended without benefit of a hearing: C. Automatically revoke the broker's license A fine of $1,000 was imposed. 3. 1. take listings over the phone 2. does not comply with the regulations 3. administer the transaction recovery act 1. misrepresentation 4. part of a franchise firm, the VREB regulations require that complete records of real estate transactions: 4. the branch office must display the licenses of all agents assigned to that particular office, when a salesperson transfers from one broker to another, it is the salespersons responsibility to: The license will be automatically revoked 4. all of the above, a license may be suspended without benefit of a hearing: Which of the following statements is correct? To qualify for a broker's license, the applicant must: Complete eight statutorily required college-level courses. The Board now has the right to: D. $900,000, The minimum balance of the Virginia Real Estate Transaction Recovery Fund is: 2. 2. an assessment from active licensees to restore the fund to the minimum balance Main: 919-875-3700. District of Columbia, a territory, a foreign nation, or a governmental agency authorized to impose discipline if at least one of the grounds for that discipline is the same as or the equivalent of one of the grounds for which a licensee may be disciplined under this Act. 1. the MLS service 3. after conducting a hearing 1. file a claim against to the licensee to recover the amount paid from the fund 750,000 In the end, these clients decide to stay where they are and to quit looking for a home. 4. failing to advise a buyer of an offer, in the case of a buyers agent, failing to inform the seller of the ethnic character of a buyer, If a salesperson is in violation of Virginia License Law or regulations, the Board may discipline the salesperson by doing any of the following actions, EXCEPT: 3. hold a hearing to allow the licensee to defend herself 4. investigate to determine whether a violation might have been committed, investigate to determine whether a violation might have been committed, Owner Kelly is leaving the area for a one year period. She plans to rent her condominium in that time period, and asks Salesperson Cindy to handle the rental. What is the first thing Lynch should do? 1. yes, because the required disclosures must appear in the ad itself 1. regulating brokerage fees 2. the claimant assigns his rights to the board, to the extent of the amount of money paid by the fund 10 hours, Two individuals want to form a real estate partnership in Virginia. 2. it can establish minimum and maximum commission rates This ad is in violation of the Virginia License Law because: 1. 3. The claimant assigns his rights to the Board, to the extent of the amount of money paid by the Fund 1. kerra filed suit against the local association of realtors 3. enable licensed real estate professionals to earn more money 1. upon demand by the board 3. to allow licensed real estate professionals to earn more money Licensees may also write to: Financial Services Tribunal. 3. selling a business for a relative 1. to make licensed real estate agents more professional 5 years, licensees must respond to board inquiries within: 4. the local association of realtors, Rainy Yeng has been transferred out of the area on an extended work assignment. Bob the Buyer makes an offer that is $20,000 below what Suzy is asking. 2. impose a monetary penalty of up to $1,000 2. she has the right to present witnesses in her defense, provided these witnesses are licensed real estate professionals 1. any other salesperson or cooperating broker, as long as he finds a ready, willing, and able buyer 400,000 1. employs a resident broker to represent her 100,000 Grounds for discipline. Subject to ORS 696.396 (Investigation of complaints and progressive discipline), the Real Estate Commissioner may suspend or revoke the real estate license of any real estate licensee, reprimand any real estate licensee or deny the issuance or renewal of a license to an applicant who has: 4. deposit the check and say nothing, endorse the check and give it to his employing broker, Salesperson Brenda is affiliated with Broker Bob, who has a listing with Seller Alex. . 2. darrell the contractor One lot is $10,000 and all others are in the $15,000 - $20,000 price range. 3. rent apartments for a small fee 2. instant messaging 3. put the check in her escrow the authority of a court order, b. an attorney at law who participates in real estate 2. 1. your brokerage firm will accept a lower commission rate 2. it is prominently displayed in the main office of the salespersons firm Which of the following statements is true in this situation? Real Property Law 441-c provides, in part, that the Department of State may revoke, suspend, fine or reprimand a real estate broker or salesperson if that licensee is found to have, among other things, violated any provision of Article 12-A of the Real Property Law, engaged in fraud or fraudulent practices, or demonstrated untrustworthiness or 1. it must be supervised by the principal or supervising broker 750,000 2. a consumer that has been defrauded in a real estate transaction In this situation, which of the following statements is correct? 3. it is prominently displayed in the branch office where the salesperson works The deal states that Harry will sell all of the houses that Darrell built on Larry's land. 4. location of property, Bill hires Larry to sell his home. What will happen to Craig's license if he doesn't complete the required courses before renewal? $10,000 1. the owner and the tenant are exempt from the real estate license law 3. all claims submitted in relation to a licensees misconduct in a single transaction may not exceed 20,000 3. may accept the listing by reciprocity between VA and wisconsin, once a license has been issued to a salesperson, her license: 2. apply for reinstatement of her license and pay a fee 400,000, In a single transaction, what is the maximum amount that a person can collect from the Transaction Recovery Fund due to licensee misconduct? 1. 2. an administrator who is required to sell a house in order to liquidate an estate 2. must complete 145 credit hours of courses approved by the board (If there is a possibility that the Real Estate License Law has been violated, the Board will refer the complaint to the North Dakota Real Estate Commission.) 2. continue to use cards and stationary which state that he is a licensee All real estate licensees are subject to discipline by the REEB as well as litigation. Fred thought Sarah did such a good job, he sent her a $500 bonus. 1. at any time 2. associate brokers and salespersons 2. file a claim against the salesperson in a court of competent jurisdiction 4. grounds for suspension or revocation of a license, grounds for suspension or revocation of a license, the board may take disciplinary action against a: 2. 1. filed a suit against the local realtors association 3. one of the partners may be unlicensed 2. revoking the persons license State whether you think the rule is true. In other words, a real estate licensee can legally only pay another licensee for the referral of real estate brokerage business. this person: 3. refusing to hold an open house, at the request of his broker Divide. 1. the office must have an escrow account 2. broker working for another broker 4. to be exempt, the tenant must pay his own utilities, the owner and tenant are exempt from the real estate license law, The Board takes disciplinary action against a licensed salesperson. d. The problem may be directed to the North Dakota Real . 1. 3. her license will be temporarily suspended until the board can hold a hearing Mark is guilty of: statement, when the referral fees paid to an unlicensed employee 3. hold a hearing in order to allow the licensee to defend himself 2. at least 30 hours per week 3. in newspaper ads consisting of more than 28 lines of copy A. 3. court of competent jurisdiction 2. do nothing, as the license automatically renews every 2 years 2. by written contract between the owner and the principal broker 3. such actions could be viewed as creative selling, which does not violate license law or board regulations 1. the clerk must be a licensed salesperson 1. the friend must be licensed as a broker 2. this is proper as long as jan remains the senior partner An investment in a limited real estate partnership 2. gives a reduced commission rate to a family member 4. brokers must renew their licenses every two years in the month that it was issued, brokers must renew their licenses every two years in the month that it was issued, a non resident VA salesperson is required to do which of the following? 1. attest to a prescribed level of competency 1. the colors on the sign are different than the firms logo colors Question text A. 2. is ready to advertise the property 4. enforce the code of ethics, licensees with an inactive license must: 1. a fictitious name 3. the firm must be incorporated in VA After moving to Virginia, her neighbor finds out about this experience and asks Carla to sell his home. 2. a rental location agent that is also licensed as a broker near schools, shops and trains. 3. ask tom to return her license to the board and apply for a transfer 4. disparate impact, a licensed real estate salesperson may receive money to manage real property from: 5 years, the supervising broker must post which records in a conspicuous place at the branch office? B. 2. the salesperson can only be paid if her license is renewed prior to january 31 2. mail his or her license to the board 1. name of the listing salesperson 4. a receiver in a bankruptcy proceeding, A licensee is on vacation when his license expires. 7 licensees (with at least 5 years experience) and 2 consumers, 7 licensees (with at least 5 years experience) and 2 consumers, who is exempt from VA real estate license requirements? 1. a member of the national association of realtors 4. must be displayed in the branch office where she is assigned, must be kept at the employing brokers main place of business, Two brokers are involved in a dispute over splitting a commission. 1. reapply for her new license as a new applicant 4. prepare and file papers for tenant eviction for non payment of rent, prepare and file papers for tenant eviction for non payment of rent, an associate broker is described as a: