ASREB State Test B-2 Exam Questions With 100%
Correct Answers.
As of June 30th of any year, the real estate recovery fund must maintain a balance
of to avoid additional fees to licensees.
$200,000
$250,000
$300,000
$600,000 - CORRECT ANSWER - $600,000
When the real estate commissioner pays a claim from the recovery fund, which of
the following is true before a licensee may obtain a real estate license once again?
Licensee must pay back the amount the fund paid out
Licensee must work under probation for one year
Licensee will have a limited license for one year
Licensee must ask permission from the court to reinstate the previous license -
CORRECT ANSWER - Licensee must pay back the amount the fund paid out
When a broker secures a listing, which of the following actions would NOT
require the owner's approval?
Placing a sign on the property
Advertising the property for sale
Assigning the listing to another salesperson
Assigning the listing to another brokerage firm - CORRECT ANSWER -
Assigning the listing to another salesperson
, A real estate brokerage company has 20 listings. The company is sold to another
local real estate company. What is true regarding the listings?
Listings are automatically transferred to the new company
Property owner and new company must sign a new listing
Listings remain valid and no action is necessary
The real estate department must approve the sale and listing transfer - CORRECT
ANSWER - Property owner and new company must sign a new listing
How many recovery funds does the Real Estate Commissioner administer?
None
One
Two
Three - CORRECT ANSWER - One
What is the maximum amount that can be paid on a single claim from the real
estate recovery fund?
$30,000
$35,000
$40,000
$90,000 - CORRECT ANSWER - $30,000
If a claim is paid from the recovery fund, the status of the license in question is:
Suspended pending investigation
Terminated
Unaffected
Continues with no alteration - CORRECT ANSWER - Terminated
Correct Answers.
As of June 30th of any year, the real estate recovery fund must maintain a balance
of to avoid additional fees to licensees.
$200,000
$250,000
$300,000
$600,000 - CORRECT ANSWER - $600,000
When the real estate commissioner pays a claim from the recovery fund, which of
the following is true before a licensee may obtain a real estate license once again?
Licensee must pay back the amount the fund paid out
Licensee must work under probation for one year
Licensee will have a limited license for one year
Licensee must ask permission from the court to reinstate the previous license -
CORRECT ANSWER - Licensee must pay back the amount the fund paid out
When a broker secures a listing, which of the following actions would NOT
require the owner's approval?
Placing a sign on the property
Advertising the property for sale
Assigning the listing to another salesperson
Assigning the listing to another brokerage firm - CORRECT ANSWER -
Assigning the listing to another salesperson
, A real estate brokerage company has 20 listings. The company is sold to another
local real estate company. What is true regarding the listings?
Listings are automatically transferred to the new company
Property owner and new company must sign a new listing
Listings remain valid and no action is necessary
The real estate department must approve the sale and listing transfer - CORRECT
ANSWER - Property owner and new company must sign a new listing
How many recovery funds does the Real Estate Commissioner administer?
None
One
Two
Three - CORRECT ANSWER - One
What is the maximum amount that can be paid on a single claim from the real
estate recovery fund?
$30,000
$35,000
$40,000
$90,000 - CORRECT ANSWER - $30,000
If a claim is paid from the recovery fund, the status of the license in question is:
Suspended pending investigation
Terminated
Unaffected
Continues with no alteration - CORRECT ANSWER - Terminated
