2025 LATEST NEWEST UPDATE
WITH ACTUAL QUESTIONS AND
DETAILED VERIFIED ANSWERS
WITH RATIONALES (100%
CORRECT) //BRAND NEW!!
/ALREADY GRADED A+ WITH
GUARANTEED SUCCESS AFTER
DOWNLOAD (ALL YOU NEED TO
PASS YOUR EXAMS)
Who must register the business name ?
Principal Broker, must register the business name with REA-(Real Estate Agency) under
their name.
Who must maintain CE records?
Principal brokers and brokers must maintain all their own CE records for 3 years
, How long until earnest money needs to be deposited?
3 banking days
How long does a licensee have after a PB dies to transfer their license?
30 calendar days before it automatically becomes inactive
Does a real estate agent have to present all offers?
Yes all written offers notices and other things regardless if the seller is already in a contract
Upon written acceptance or rejection an offer a RE agent must
within 3 banking days provide legible copies of all offers signed by both buyer and seller to
both buyer and seller
To advertise "Team" or "Group"
The real estate licensee's must all be under the same broker and the team or group has at least
one licensee and states who is not licensed
What is tax deferral
delay paying taxes to some other time
When is a renewal of a real estate license effective?
When renewal requirements are met
When can a buyer back out if they're not providing a disclosure statement?
At any time before closing
Which of the following needs to be disclosed to a potential buyer?
A house used for cooking meth must be disclosed
What should you do if you get a house for a listing and it has a septic tank?
You must disclose this fact
How many days does a principal real estate broker have to provide the name and account
number of the bank after opening a trust account?
10 business days
A commission can be paid from a principal broker to
a real estate agent who no longer employed to a PB, that earned the commission before their
license was transferred
How long must real estate documents be kept?
6 years, from the date the transaction was accepted, rejected, or withdrawn
Who approves advertising?