SUPERIOR real estate final exam questions
1. why do we have the statute of fraud: to prevent oral fraud
2. if you lease/sell/advertise/manage real estate property for someone else for a fee do
you need a license?: yes
3. if I receive compensation from aa real estate transaction do I need a license?-
: yes
4. if you do not have a real estate license can you sell someone else home?: yes, if you have a
legal document like a power of attorney that grants permission to do so.
5. how many calendar days do we have to deliver documents?: 3
6. how long do we have to get post licensing done?: 18 months
7. when should we have CE done by every year?: 8 hours by June 10
8. when should be renew our license by every year?: June 30, $45
9. after getting a license when do we start CE?: second June after getting license
10. Do I have to be current and active to earn a real estate commission?: yes, BUT if
I’m inactive and EARNED a commission before I became inactive, I can get that money being it was earned when current and
active.
11. should ADs include firms name?: YES
12. who sets the rates for VA loans?: local lenders
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1. why do we have the statute of fraud: to prevent oral fraud
2. if you lease/sell/advertise/manage real estate property for someone else for a fee do
you need a license?: yes
3. if I receive compensation from aa real estate transaction do I need a license?-
: yes
4. if you do not have a real estate license can you sell someone else home?: yes, if you have a
legal document like a power of attorney that grants permission to do so.
5. how many calendar days do we have to deliver documents?: 3
6. how long do we have to get post licensing done?: 18 months
7. when should we have CE done by every year?: 8 hours by June 10
8. when should be renew our license by every year?: June 30, $45
9. after getting a license when do we start CE?: second June after getting license
10. Do I have to be current and active to earn a real estate commission?: yes, BUT if
I’m inactive and EARNED a commission before I became inactive, I can get that money being it was earned when current and
active.
11. should ADs include firms name?: YES
12. who sets the rates for VA loans?: local lenders
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