Alabama Real Estate License Law WITH
ANS 2024
15 days - correct answerAREC must give __?____ days notice of the hearing?
30 days - correct answerHow many days does AREC have to give before their decision is stated?
30 days - correct answerHow many days does the licensee have to decide if they will accept the decision
of AREC or appeal it?
conversion - correct answerspending earnest money = theft
misuse of trust accounts - correct answerWhat is the #1 violation that would cause a license to be
revoked or suspended?
detailed closing statement showing all receipts and disbursements - correct answerIn addition to the
licensee providing an estimated closing statement at offer time, they should also furnish __________ at
the time the sale is closed.
Immediately - correct answerWhen should any cash funds be deposited by?
Commission and public - correct answerA qualifying broker shall be held responsible to the
_________&____________ for all acts of each salesperson and associate broker licensed under them
Qualifying Broker - correct answerA _______ will be responsible to an injured party for the damage
caused by any violation by a licensee engaged by this person.
7 days - correct answerEach qualifying broker shall promptly disburse to the appropriate party any trust
monies owed within _______ days of the consummation of the transaction for which the funds were
deposited.
,liable for all acts of the out-of-state broker and for their own acts - correct answerIn an out-of-state co-
brokerage the AL broker shall be ___________...
name - correct answerIn all advertising of RE located in AL the _______ of the AL broker shall appear
offers the same privileges to licensees of this state - correct answerA licensed broker of another state
may act as a co-broker with a licensed broker of this state by written agreement specifying each parcel
of property covered, if the state in which the non-resident broker is licensed _____________.
1) 10 days 2) copy of the agreement - correct answerWhenever an AL broker enters into a co-broker
with a non-resident broker to perform in AL the AL broker shall file within ________days. What shall be
filed with the commission?
Does not need a license - correct answerDoes this person need to be licensed - Person acting without
compensation and in good faith under a duly executed power of attorney authorizing the consummation
of a RE transaction
license period - correct answerThe period of time beginning on Oct 1 on a year designated by the
commission to be the first year of a licensing period and ending on midnight Sept 30 of the year
designated by commission as the final year of that licensing period
1)residence 2) Aug 1 - correct answerLicense renewal forms will be mailed to place of business if for an
active license or ________ if inactive prior to ________ of the final year of license period
terminates - correct answerUpon issuance of their broker's license certificate the licensed salesperson's
license automatically ____________ upon issuance of their brokers certificate
One who does auction is required. the ground men are not required to be licensed. - correct answerIn a
RE auction who is/is not required to be licensed?
does not need to be licensed - correct answerDoes a person acting as the manager for an apartment
building complex need to be licensed?
, 15 days - correct answerAnyone whose application is not deemed acceptable may request a hearing
before the commission. The person has ______days to request a hearing.
1) business
2) rural area may operate a sole proprietorship from home.Must have a separate business phone,
entrance & be properly identified
3) handicapped broker- regardless of zoning can do the same as above - correct answerThe primary
requirement is that a RE office be located in an area zoned for ________. There are 2 exceptions. What
are they?
NO - correct answerDoes an owner in the managing or in consummating a RE transaction involving their
own RE of that of a spouse, child, or parent have to hold a RE license?
Yes - correct answerDoes a person acting as an on-site manager of a condominium complex have to be
licensed?
Class A misdemeanor - correct answerShould any applicant for RE salesperson or broker license falsely
answer questions on exam or application it may be rejected by the commission, returned to the
applicant and more than likely be charged with _________.
24 months - correct answerTo obtain a Brokers license you must have proof that they have had an active
RE salesperson's license in ANY STATE for at least ___________ months of the 36 month period
immediately preceding date of application.
Yes they need to be licensed - correct answerDoes someone need to be licensed in order to offer to sell,
exchange, purchase, rent or lease RE?
70%
3.5 hours - correct answerThe passing grade for broker and salesperson is ________. You will have
_______ hours to complete the exam.
ANS 2024
15 days - correct answerAREC must give __?____ days notice of the hearing?
30 days - correct answerHow many days does AREC have to give before their decision is stated?
30 days - correct answerHow many days does the licensee have to decide if they will accept the decision
of AREC or appeal it?
conversion - correct answerspending earnest money = theft
misuse of trust accounts - correct answerWhat is the #1 violation that would cause a license to be
revoked or suspended?
detailed closing statement showing all receipts and disbursements - correct answerIn addition to the
licensee providing an estimated closing statement at offer time, they should also furnish __________ at
the time the sale is closed.
Immediately - correct answerWhen should any cash funds be deposited by?
Commission and public - correct answerA qualifying broker shall be held responsible to the
_________&____________ for all acts of each salesperson and associate broker licensed under them
Qualifying Broker - correct answerA _______ will be responsible to an injured party for the damage
caused by any violation by a licensee engaged by this person.
7 days - correct answerEach qualifying broker shall promptly disburse to the appropriate party any trust
monies owed within _______ days of the consummation of the transaction for which the funds were
deposited.
,liable for all acts of the out-of-state broker and for their own acts - correct answerIn an out-of-state co-
brokerage the AL broker shall be ___________...
name - correct answerIn all advertising of RE located in AL the _______ of the AL broker shall appear
offers the same privileges to licensees of this state - correct answerA licensed broker of another state
may act as a co-broker with a licensed broker of this state by written agreement specifying each parcel
of property covered, if the state in which the non-resident broker is licensed _____________.
1) 10 days 2) copy of the agreement - correct answerWhenever an AL broker enters into a co-broker
with a non-resident broker to perform in AL the AL broker shall file within ________days. What shall be
filed with the commission?
Does not need a license - correct answerDoes this person need to be licensed - Person acting without
compensation and in good faith under a duly executed power of attorney authorizing the consummation
of a RE transaction
license period - correct answerThe period of time beginning on Oct 1 on a year designated by the
commission to be the first year of a licensing period and ending on midnight Sept 30 of the year
designated by commission as the final year of that licensing period
1)residence 2) Aug 1 - correct answerLicense renewal forms will be mailed to place of business if for an
active license or ________ if inactive prior to ________ of the final year of license period
terminates - correct answerUpon issuance of their broker's license certificate the licensed salesperson's
license automatically ____________ upon issuance of their brokers certificate
One who does auction is required. the ground men are not required to be licensed. - correct answerIn a
RE auction who is/is not required to be licensed?
does not need to be licensed - correct answerDoes a person acting as the manager for an apartment
building complex need to be licensed?
, 15 days - correct answerAnyone whose application is not deemed acceptable may request a hearing
before the commission. The person has ______days to request a hearing.
1) business
2) rural area may operate a sole proprietorship from home.Must have a separate business phone,
entrance & be properly identified
3) handicapped broker- regardless of zoning can do the same as above - correct answerThe primary
requirement is that a RE office be located in an area zoned for ________. There are 2 exceptions. What
are they?
NO - correct answerDoes an owner in the managing or in consummating a RE transaction involving their
own RE of that of a spouse, child, or parent have to hold a RE license?
Yes - correct answerDoes a person acting as an on-site manager of a condominium complex have to be
licensed?
Class A misdemeanor - correct answerShould any applicant for RE salesperson or broker license falsely
answer questions on exam or application it may be rejected by the commission, returned to the
applicant and more than likely be charged with _________.
24 months - correct answerTo obtain a Brokers license you must have proof that they have had an active
RE salesperson's license in ANY STATE for at least ___________ months of the 36 month period
immediately preceding date of application.
Yes they need to be licensed - correct answerDoes someone need to be licensed in order to offer to sell,
exchange, purchase, rent or lease RE?
70%
3.5 hours - correct answerThe passing grade for broker and salesperson is ________. You will have
_______ hours to complete the exam.
