ARKANSAS LAW
Arkansas real estate commission consists of how many members - answer5. 3
members must have an ACTIVE broker or salesman license. and 2 consumer
members, 1 member must be 60 years or older, 1 different business profession
Who shall fix the salaries of all employees of the Commission within budgetary
limitation's – answer Director
Who appoints members of Arkansas Real Estate Commission – answer Governor from
a list of four names submitted by the Arkansas realtors association
How long term for Arkansas Real Estate Commission - answer3 years staggered
Consumer member is appointed by ___ - answer governor, subject to confirmation by
the Senate
How much is pay for actually served - answer$55 a day
Arkansas Real Estate Commission Fund - answer All Charges, fees, fines, and
penalties collected by the AREC shall be deposited into a fund
Real estate license Law - answerto protect the public from questionable real estate
practices. No one can act as a real estate broker or salesperson in arkansas or engage
in any real estate activies for teh epectation of compensateion such as leasing,
auctioning ,selling, listing and or maning property.
The Director - answerthe chief executive and administrative officer of the commission,
authorized to do all things necessary and convenient to carry into effect the Arkansas
real estate license, law and Arkansas time share law, and the regulations subject to the
general supervision of the commission
Real estate exam fee - answer86.25( $50 real estate license Examination application
fee, $22 background check ,$ 14.25 federal background check
What is the maximum fine issued as a civil penalty by the Arkansas Real Estate
Commission - answer$5000
Where would you file an appeal based on a decision determined by a formal hearing? -
answer
systematic residential rental property inspection program - answerThe program that
requires all persons who reside outside of the State of Arkansas and are owners of
, residential rental property located within the corporate limits of a municipality in this
state to designate an agent for service of process is called?
For violations of the Arkansas Timeshare License Law the Commission can levy a fine
of how much per violation - answer$5000
The Governor shall consult whom before making an appointment to fill a vacancy before
making an appointment to fill a vacancy? - answerArkansas Realtors Association
correct!
Governor under this section shall appoint the members of the Arkansas Real Estate
Commission which will be subject to confirmation by whom? - answerthe senate
Upon deciding to inactivate a license to practice real estate to whom would the broker
send the license to? - answerTHe commision
the director - answerThe chief executive and administrative officer of the Commission,
and, as such, is authorized to do all things necessary and convenient to carry into effect
the Arkansas Real Estate License Law and Arkansas Time-Share Law and the
regulations promulgated thereunder, subject to the general supervision of the
Commission is known as?
Regular meetings of the Arkansas Real Estate Commission shall generally be held? -
answerThe Monday immediately preceding the second Tuesday of each month correct!
If the commission determines that a violation has occurred then they determine the
amount of damages, if any, suffered by the aggrieved party or parties. However,
damages shall be limited to actual damages in accordance with § 1742-407. What
would be the next step? - answerThe commission shall then direct the licensee to pay
that amount to the aggrieved party or parties
A sales agent who misrepresents the condition of property may be subject to which of
the following? - answerloss of license
How long must a salesperson be an apprentice before being eligible to obtain a Broker's
license? - answer24 months
The Arkansas Real Estate Commission is hereby authorized and empowered, subject to
the following restrictions and limitations, to establish a program authorizing and
permitting the collection of interest on real estate brokers' trust accounts and the
disbursement of the interest by the depository institutions involved to an Arkansas
nonprofit corporation for use for such tax-exempt purposes as are hereinafter set forth.
Where must the notice of voluntary participation be posted by a broker? - answerat
brockerage
Arkansas real estate commission consists of how many members - answer5. 3
members must have an ACTIVE broker or salesman license. and 2 consumer
members, 1 member must be 60 years or older, 1 different business profession
Who shall fix the salaries of all employees of the Commission within budgetary
limitation's – answer Director
Who appoints members of Arkansas Real Estate Commission – answer Governor from
a list of four names submitted by the Arkansas realtors association
How long term for Arkansas Real Estate Commission - answer3 years staggered
Consumer member is appointed by ___ - answer governor, subject to confirmation by
the Senate
How much is pay for actually served - answer$55 a day
Arkansas Real Estate Commission Fund - answer All Charges, fees, fines, and
penalties collected by the AREC shall be deposited into a fund
Real estate license Law - answerto protect the public from questionable real estate
practices. No one can act as a real estate broker or salesperson in arkansas or engage
in any real estate activies for teh epectation of compensateion such as leasing,
auctioning ,selling, listing and or maning property.
The Director - answerthe chief executive and administrative officer of the commission,
authorized to do all things necessary and convenient to carry into effect the Arkansas
real estate license, law and Arkansas time share law, and the regulations subject to the
general supervision of the commission
Real estate exam fee - answer86.25( $50 real estate license Examination application
fee, $22 background check ,$ 14.25 federal background check
What is the maximum fine issued as a civil penalty by the Arkansas Real Estate
Commission - answer$5000
Where would you file an appeal based on a decision determined by a formal hearing? -
answer
systematic residential rental property inspection program - answerThe program that
requires all persons who reside outside of the State of Arkansas and are owners of
, residential rental property located within the corporate limits of a municipality in this
state to designate an agent for service of process is called?
For violations of the Arkansas Timeshare License Law the Commission can levy a fine
of how much per violation - answer$5000
The Governor shall consult whom before making an appointment to fill a vacancy before
making an appointment to fill a vacancy? - answerArkansas Realtors Association
correct!
Governor under this section shall appoint the members of the Arkansas Real Estate
Commission which will be subject to confirmation by whom? - answerthe senate
Upon deciding to inactivate a license to practice real estate to whom would the broker
send the license to? - answerTHe commision
the director - answerThe chief executive and administrative officer of the Commission,
and, as such, is authorized to do all things necessary and convenient to carry into effect
the Arkansas Real Estate License Law and Arkansas Time-Share Law and the
regulations promulgated thereunder, subject to the general supervision of the
Commission is known as?
Regular meetings of the Arkansas Real Estate Commission shall generally be held? -
answerThe Monday immediately preceding the second Tuesday of each month correct!
If the commission determines that a violation has occurred then they determine the
amount of damages, if any, suffered by the aggrieved party or parties. However,
damages shall be limited to actual damages in accordance with § 1742-407. What
would be the next step? - answerThe commission shall then direct the licensee to pay
that amount to the aggrieved party or parties
A sales agent who misrepresents the condition of property may be subject to which of
the following? - answerloss of license
How long must a salesperson be an apprentice before being eligible to obtain a Broker's
license? - answer24 months
The Arkansas Real Estate Commission is hereby authorized and empowered, subject to
the following restrictions and limitations, to establish a program authorizing and
permitting the collection of interest on real estate brokers' trust accounts and the
disbursement of the interest by the depository institutions involved to an Arkansas
nonprofit corporation for use for such tax-exempt purposes as are hereinafter set forth.
Where must the notice of voluntary participation be posted by a broker? - answerat
brockerage
