ARKANSAS STATUTORY
REQUIREMENTS FOR LICENSEES
EXAM QUESTIONS & ANSWERS
Vicarious Liability - Correct Answers -Legal responsibility placed on one person for the
acts of another.
Designated Executive Broker - Correct Answers -Has the same authority as the
principal broker as recorded by the AR Real Estate Commission. The principal broker
must remain active in the firm.
Broker Supervision in Arkansas Includes: - Correct Answers -Broker Responsibility,
Backup if Needed, Commitment to the Firm, Training, Document Review, Establishing
Policies and Procedures, Record of Acknowledgement
Broker Affiliation - Correct Answers -When you select a sponsoring broker who will
maintain your license in the broker's office, and who agrees to supervise, train, and be
responsible for you for at least the first two years of your career.
Unaffiliated Licensees - Correct Answers -Licensees who are not brokers yet are
attempting to work independent of broker supervision. This is a violation and comes with
penalties.
Changing Affiliations - Correct Answers -
Deceptive Ads - Correct Answers -An ad that either contains a statement that is likely to
mislead, or omits information that is material
Unfair Ads - Correct Answers -An ad that is likely to cause substantial/unavoidable
consumer injury, or business practice that is not outweighed by the benefit to
consumers
Health/Safety and Evaluation Issues Ads - Correct Answers -Ads that are focused on
health and safety and those that consumers would have trouble evaluating for
themselves.
REQUIREMENTS FOR LICENSEES
EXAM QUESTIONS & ANSWERS
Vicarious Liability - Correct Answers -Legal responsibility placed on one person for the
acts of another.
Designated Executive Broker - Correct Answers -Has the same authority as the
principal broker as recorded by the AR Real Estate Commission. The principal broker
must remain active in the firm.
Broker Supervision in Arkansas Includes: - Correct Answers -Broker Responsibility,
Backup if Needed, Commitment to the Firm, Training, Document Review, Establishing
Policies and Procedures, Record of Acknowledgement
Broker Affiliation - Correct Answers -When you select a sponsoring broker who will
maintain your license in the broker's office, and who agrees to supervise, train, and be
responsible for you for at least the first two years of your career.
Unaffiliated Licensees - Correct Answers -Licensees who are not brokers yet are
attempting to work independent of broker supervision. This is a violation and comes with
penalties.
Changing Affiliations - Correct Answers -
Deceptive Ads - Correct Answers -An ad that either contains a statement that is likely to
mislead, or omits information that is material
Unfair Ads - Correct Answers -An ad that is likely to cause substantial/unavoidable
consumer injury, or business practice that is not outweighed by the benefit to
consumers
Health/Safety and Evaluation Issues Ads - Correct Answers -Ads that are focused on
health and safety and those that consumers would have trouble evaluating for
themselves.
