REAL ESTATE (AR STATE PORTION)
EXAM QUESTIONS WITH CORRECT
ANSWERS
Kent has knowledge that Brent, another salesperson in the firm, purposefully published
a misleading advertisement for a home in West Fork. What does the commission say
Kent's duty is in this situation? - Correct Answers -Report it in writing to the commission.
Which of the following costs is eligible for disbursement from the Arkansas Real Estate
Recovery Fund? - Correct Answers -Losses directly related to the transaction
In Arkansas, which of the following, when done for others and for compensation, may
be done by someone who doesn't hold a real estate license? - Correct Answers -
Performing official real estate duties as an Arkansas government employee
Which of the following Arkansas licensees are allowed to engage in real estate activities
with another broker without their principal or executive broker's permission? - Correct
Answers -None
Ashley failed to put up a place of business sign appropriately outside of her office. Due
to this advertising violation, what kind of disciplinary action may Ashley receive? -
Correct Answers -She may be issued a citation for a penalty of up to $250.
A(n) _____ is a process used to determine the potential selling price of a property that is
performed by a sales agent who's hired by a financial institution. - Correct Answers -
broker price opinion
What is the primary purpose of a BPO? - Correct Answers -To help lenders determine
the potential sales price for a property.
Both brokers and salespersons in Arkansas are required to complete _____ hours of
continuing education each year. - Correct Answers -7
What can happen if a brokerage firm changes location without letting the commission
know? - Correct Answers -The principal broker's license and all associated licensees'
licenses could be cancelled.
EXAM QUESTIONS WITH CORRECT
ANSWERS
Kent has knowledge that Brent, another salesperson in the firm, purposefully published
a misleading advertisement for a home in West Fork. What does the commission say
Kent's duty is in this situation? - Correct Answers -Report it in writing to the commission.
Which of the following costs is eligible for disbursement from the Arkansas Real Estate
Recovery Fund? - Correct Answers -Losses directly related to the transaction
In Arkansas, which of the following, when done for others and for compensation, may
be done by someone who doesn't hold a real estate license? - Correct Answers -
Performing official real estate duties as an Arkansas government employee
Which of the following Arkansas licensees are allowed to engage in real estate activities
with another broker without their principal or executive broker's permission? - Correct
Answers -None
Ashley failed to put up a place of business sign appropriately outside of her office. Due
to this advertising violation, what kind of disciplinary action may Ashley receive? -
Correct Answers -She may be issued a citation for a penalty of up to $250.
A(n) _____ is a process used to determine the potential selling price of a property that is
performed by a sales agent who's hired by a financial institution. - Correct Answers -
broker price opinion
What is the primary purpose of a BPO? - Correct Answers -To help lenders determine
the potential sales price for a property.
Both brokers and salespersons in Arkansas are required to complete _____ hours of
continuing education each year. - Correct Answers -7
What can happen if a brokerage firm changes location without letting the commission
know? - Correct Answers -The principal broker's license and all associated licensees'
licenses could be cancelled.
