Arkansas License Law Quiz
To provide evidence that a person is qualified to conduct buisness as a real estate
licensee, state laws require each applicant for a license must do all the following except:
a) furnish proof of a good reputation
b) pass an examination that demonstrates real estate knowledge and competency.
c) file an application for testing prior to scheduled test
d) post a $2000 performance bond - answerD.
A br9kers license may be revoked for any of the following Except:
a) commingles clients money with his or her own.
b) makes false statements concerning a property listed
c) advances funds from escrow account 3 days before sale is closed to pay rent
d) places personal funds in escrow account to eliminate closing the account. - answerD
Each principal broker must do all of the following Except:
a) maintain a definite place of buisness
b)jeep a special escrow account for monies belonging to clients
c)designed a territory in which licensees can operate
d)have permanent sign on the place of business - answerC
The fee for transferring from one broker to another for a salesperson the second time
during a renewal period is:
a)$10
b)$30
c)$100
d)$25 - answerB
which of the following must legally have a real estate license?
a) a homeowner offering his residence for sale
b) an individual who anticipates receiving a fee for collecting the rent from a former
neighbors tenant.
c)real estate appraisera
d) an attorney who specializes in real estate law - answerB
Provided he or she is licensed, a sales person may:
a)leave the employment of one broker and become associated with another broker
without reporting the change to the real estate commission
b) act as an agent for a seller in his or her own right
c) manage a branch office in the same city of the principal broker, without permission of
the real estate commission
d) manage an apartment project without living on the premises - answerD
, The fee for transferring a license from one broker to another broker for the first time
during a renewal period is:
a)$3
b)$30
c)$20
d)$100 - answerB
once a licensee has been discharged or terminated, how many days does the principal
broker have to notify the arkansas real estate commission
a)15
b)30
c)7
d)10 - answerc
The arkansas real estate commission is required periodically to publish a list of all
licensees along with any disciplinary action taken. the list is published:
a)monthly
b)quarter
c)annually
d)biannual - answerb
The investigator fonds evidence a sale agent has violated the rules and regulations. The
person is notified 30 days before the hearing. The licensee may:
a) send her attorney to the hearing
b) accept their finding and not go
c)go and hear them
d) do any of the above - answerD
In which of the following capacities may a licensed Arkansas real estate principal broker
employ an agent?
a) salesperson
b) broker-salesperson
c)indépendant contractor
d) any of the above - answerD
If a complainant disagrees with the Director of the Commission's dismissal of his written
complaint, the complainant may:
a) call the Chairman of the Commission and discuss it
b) submit a request in writing, along with $100.00 filling fee, to obtain a determination by
the entire Commission
c) file for a hearing before the Attorney General
d) file for a hearing in Circuit Court in the County where the complainant lives. -
answerB
The Broker's responsibility to salesperson is to:
a)furnish a desk and telephone for each person
To provide evidence that a person is qualified to conduct buisness as a real estate
licensee, state laws require each applicant for a license must do all the following except:
a) furnish proof of a good reputation
b) pass an examination that demonstrates real estate knowledge and competency.
c) file an application for testing prior to scheduled test
d) post a $2000 performance bond - answerD.
A br9kers license may be revoked for any of the following Except:
a) commingles clients money with his or her own.
b) makes false statements concerning a property listed
c) advances funds from escrow account 3 days before sale is closed to pay rent
d) places personal funds in escrow account to eliminate closing the account. - answerD
Each principal broker must do all of the following Except:
a) maintain a definite place of buisness
b)jeep a special escrow account for monies belonging to clients
c)designed a territory in which licensees can operate
d)have permanent sign on the place of business - answerC
The fee for transferring from one broker to another for a salesperson the second time
during a renewal period is:
a)$10
b)$30
c)$100
d)$25 - answerB
which of the following must legally have a real estate license?
a) a homeowner offering his residence for sale
b) an individual who anticipates receiving a fee for collecting the rent from a former
neighbors tenant.
c)real estate appraisera
d) an attorney who specializes in real estate law - answerB
Provided he or she is licensed, a sales person may:
a)leave the employment of one broker and become associated with another broker
without reporting the change to the real estate commission
b) act as an agent for a seller in his or her own right
c) manage a branch office in the same city of the principal broker, without permission of
the real estate commission
d) manage an apartment project without living on the premises - answerD
, The fee for transferring a license from one broker to another broker for the first time
during a renewal period is:
a)$3
b)$30
c)$20
d)$100 - answerB
once a licensee has been discharged or terminated, how many days does the principal
broker have to notify the arkansas real estate commission
a)15
b)30
c)7
d)10 - answerc
The arkansas real estate commission is required periodically to publish a list of all
licensees along with any disciplinary action taken. the list is published:
a)monthly
b)quarter
c)annually
d)biannual - answerb
The investigator fonds evidence a sale agent has violated the rules and regulations. The
person is notified 30 days before the hearing. The licensee may:
a) send her attorney to the hearing
b) accept their finding and not go
c)go and hear them
d) do any of the above - answerD
In which of the following capacities may a licensed Arkansas real estate principal broker
employ an agent?
a) salesperson
b) broker-salesperson
c)indépendant contractor
d) any of the above - answerD
If a complainant disagrees with the Director of the Commission's dismissal of his written
complaint, the complainant may:
a) call the Chairman of the Commission and discuss it
b) submit a request in writing, along with $100.00 filling fee, to obtain a determination by
the entire Commission
c) file for a hearing before the Attorney General
d) file for a hearing in Circuit Court in the County where the complainant lives. -
answerB
The Broker's responsibility to salesperson is to:
a)furnish a desk and telephone for each person
