1 | P a g e | © copyright 2024/2025 | Grade A+
Montana License Law Questions
and Answers (100% Pass)
The Board Of Realty Regulation Consists of how many members and how are
the members appointed?
→ 7 members and are appointed by the governor
What are the Civil and Criminal Penalties for those engaging in real estate
without a license?
→ Guilty of a misdemeanor
First Offense will be fined b/t $100-$500 or imprisoned for 90 days or BOTH
Subsequent Offense will be fined b/t $500-$2,000 or imprisoned for 6 months
or BOTH
What is the Real Estate Recovery Account?
→ -Within the state special revenue fund for the use of the board
there is a recovery account
-Is used to pay claims against licensees that remain unsatisfied - the board
maintains a minimum blanca of $100,000 and to maintain this new licensees
pay an additional fee of $35 when obtaining initial license. If it is lower than
Master01 | September, 2024/2025 | Latest update
, 1 | P a g e | © copyright 2024/2025 | Grade A+
minimum balance assessment will take place to determine how to maintain
balance (done by board)
Claims against the recovery account?
→ Applications for claim must be made within 2 years of final
judgement, cannot be made for an amount over $25,000, the
board will conduct a hearing within 30 days of the application
What are the requirements for continuing education for new salesperson
license?
→ they receive an interim license that terminates on Oct. 31st of
the year of the initial license date, must complete the "12 -hour
rookie course" within 120 days following their original licensee
issue date
Continuing Real Estate Education?
→ All active licensees must complete board -mandated core
education each year along with a 12 hou r of continuing real
estate education each year.
Master01 | September, 2024/2025 | Latest update
, 1 | P a g e | © copyright 2024/2025 | Grade A+
A license may be placed on inactive status by?
→ 1. paying the required fee
2. forwarding the license to the Board for cancellation of active status
3. Submitting a written request that the license be place inactive
4. must renew the inactive license each year to avoid lapse, expiration or
termination
How do you reactivate an inactive license?
→ 1. filing a change of address application
2. providing evidence of completing 24 hours of continuing education
3. providing evidence of completing the previous license years core course
4. paying the required fee
How many days does a Broker have to notify the department of moving
addresses?
→ 10 days
A salesperson whose license has been cancelled due to termination of
association with a supervising broker must?
Master01 | September, 2024/2025 | Latest update
, 1 | P a g e | © copyright 2024/2025 | Grade A+
→ notify the Board of a new supervising broker relationship or
notify board to place on inactive status, pay the required fees
within 10 days
An existing supervising broker may not transfer temporary supervision of a
salesperson for more than how many days?
→ 60 days in a 12-month period
What are the disciplinary guidelines the board may impose against a licensee
violating any laws or rules?
→ they may impose any action, the board decides on a case -by-
case basis that seems appropriate
Where must the board deposit money it receives?
→ must be deposited in the recovery account
What are the 6 Real Estate Activities?
→ 1. creation and improvement
2. management and maintenance
Master01 | September, 2024/2025 | Latest update
Montana License Law Questions
and Answers (100% Pass)
The Board Of Realty Regulation Consists of how many members and how are
the members appointed?
→ 7 members and are appointed by the governor
What are the Civil and Criminal Penalties for those engaging in real estate
without a license?
→ Guilty of a misdemeanor
First Offense will be fined b/t $100-$500 or imprisoned for 90 days or BOTH
Subsequent Offense will be fined b/t $500-$2,000 or imprisoned for 6 months
or BOTH
What is the Real Estate Recovery Account?
→ -Within the state special revenue fund for the use of the board
there is a recovery account
-Is used to pay claims against licensees that remain unsatisfied - the board
maintains a minimum blanca of $100,000 and to maintain this new licensees
pay an additional fee of $35 when obtaining initial license. If it is lower than
Master01 | September, 2024/2025 | Latest update
, 1 | P a g e | © copyright 2024/2025 | Grade A+
minimum balance assessment will take place to determine how to maintain
balance (done by board)
Claims against the recovery account?
→ Applications for claim must be made within 2 years of final
judgement, cannot be made for an amount over $25,000, the
board will conduct a hearing within 30 days of the application
What are the requirements for continuing education for new salesperson
license?
→ they receive an interim license that terminates on Oct. 31st of
the year of the initial license date, must complete the "12 -hour
rookie course" within 120 days following their original licensee
issue date
Continuing Real Estate Education?
→ All active licensees must complete board -mandated core
education each year along with a 12 hou r of continuing real
estate education each year.
Master01 | September, 2024/2025 | Latest update
, 1 | P a g e | © copyright 2024/2025 | Grade A+
A license may be placed on inactive status by?
→ 1. paying the required fee
2. forwarding the license to the Board for cancellation of active status
3. Submitting a written request that the license be place inactive
4. must renew the inactive license each year to avoid lapse, expiration or
termination
How do you reactivate an inactive license?
→ 1. filing a change of address application
2. providing evidence of completing 24 hours of continuing education
3. providing evidence of completing the previous license years core course
4. paying the required fee
How many days does a Broker have to notify the department of moving
addresses?
→ 10 days
A salesperson whose license has been cancelled due to termination of
association with a supervising broker must?
Master01 | September, 2024/2025 | Latest update
, 1 | P a g e | © copyright 2024/2025 | Grade A+
→ notify the Board of a new supervising broker relationship or
notify board to place on inactive status, pay the required fees
within 10 days
An existing supervising broker may not transfer temporary supervision of a
salesperson for more than how many days?
→ 60 days in a 12-month period
What are the disciplinary guidelines the board may impose against a licensee
violating any laws or rules?
→ they may impose any action, the board decides on a case -by-
case basis that seems appropriate
Where must the board deposit money it receives?
→ must be deposited in the recovery account
What are the 6 Real Estate Activities?
→ 1. creation and improvement
2. management and maintenance
Master01 | September, 2024/2025 | Latest update
