Alabama Real Estate Exam.

Alabama Real Estate Exam.If an affiliated licensee violates license law, the law states that both the qualifying broker and licensee will be held responsible for the damage caused. T/F - ANSWERT. Can qualified brokers serve at more than one location? - ANSWERNo. Why? Because a broker can not provide full-time supervision at more than one location. When a qualifying broker dies or becomes incapacitated, the firm must select a salesperson or broker to apply for a temporary qualifying brokers license within __ days. - ANSWER30 days. This individual who has been selected for the temporary brokers license, must have been a broker or sales person for at least ___ year prior to the application and can only serve for a period of +____ months. If a fully licensed qualifying broker isn't chosen within tis time frame the AREC will inactivate the company's license. - ANSWER1 year. 6 months. Most real estate professionals work as ______________ contractors and receive a _____ form at the end of the year. - ANSWERIndependent. 1099. A qualifying broker must maintain transaction records at the place of business for at least ___ years. - ANSWERThree. A broker home office may operate inside city limits. T/F - ANSWERFalse. Home offices must first be outside of city limits. Broker home offices must maintain a separate office to use exclusively for conducting real estate activities. T/F - ANSWERTrue. Broker home offices may be a place for business for other licensees. T/F - ANSWERFalse. Other licensees are NOT allowed to operate out of the brokers home office. The home office must have a separate telephone number and entrance, and be identified as a real estate office. T/F - ANSWERTrue. Brokerage offices must be properly identified as real estate offices with appropriate signage. Exterior signs must be posted where they're easily visible. T/F - ANSWERT In areas where exterior signs are not allowed, interior signs must be posted in both common entry areas on office/suite doors. T/F - ANSWERT How long must brokers keep records of the business? - ANSWER3 years.