CHAPTER 1: ARKANSAS LICENSE LAW.
(LESSON 1: DUTIES AND POWERS OF THE
ARKANSAS REAL ESTATE COMMISSION.)
Which of the following powers are vested in the Commission? - Correct Answers -
Subpoena powers
The executive director of the Commission: - Correct Answers -Is effectively the CEO of
the Commission
The salaries of Commission employees are established by: - Correct Answers -The
Commission
Who administers and enforces the real estate license law in Arkansas? - Correct
Answers -The Arkansas Real Estate Commission
Licensee members of the Commission are - Correct Answers -Appointed by the
Arkansas Governor
Fees and fines collected by the commission are held in the: - Correct Answers -
Arkansas Real Estate Commission fund
The Real Estate License Law established a Real Estate Recovery Fund: - Correct
Answers -For the protection of the public against harmful actions by licensees
The chief executive and administrative officer of the Commission, and, such is
authorized to do all things necessary and convenient to carry into effect the Arkansas
Real Estate License Law and Arkansas Time-Share Law and the regulation
promulgated thereunder, subject to the general supervision of the Commission is known
as? - Correct Answers -The Director
Upon deciding to inactivate a license to practice real estate to whom would the broker
send the license to? - Correct Answers -The Commission
The Governor shall consult whom before making an appointment to fill a vacancy before
making an appointment to fill a vacancy? - Correct Answers -Arkansas Realtors
Association
What is the primary source of laws and regulations governing real estate licensees in
Arkansas? - Correct Answers -Title 17, Chapter 42 of the Arkansas Code
Which of the following is NOT a legitimate use of the Real Estate Recovery Fund? -
Correct Answers -Disbursing funds to plaintiffs per court orders
(LESSON 1: DUTIES AND POWERS OF THE
ARKANSAS REAL ESTATE COMMISSION.)
Which of the following powers are vested in the Commission? - Correct Answers -
Subpoena powers
The executive director of the Commission: - Correct Answers -Is effectively the CEO of
the Commission
The salaries of Commission employees are established by: - Correct Answers -The
Commission
Who administers and enforces the real estate license law in Arkansas? - Correct
Answers -The Arkansas Real Estate Commission
Licensee members of the Commission are - Correct Answers -Appointed by the
Arkansas Governor
Fees and fines collected by the commission are held in the: - Correct Answers -
Arkansas Real Estate Commission fund
The Real Estate License Law established a Real Estate Recovery Fund: - Correct
Answers -For the protection of the public against harmful actions by licensees
The chief executive and administrative officer of the Commission, and, such is
authorized to do all things necessary and convenient to carry into effect the Arkansas
Real Estate License Law and Arkansas Time-Share Law and the regulation
promulgated thereunder, subject to the general supervision of the Commission is known
as? - Correct Answers -The Director
Upon deciding to inactivate a license to practice real estate to whom would the broker
send the license to? - Correct Answers -The Commission
The Governor shall consult whom before making an appointment to fill a vacancy before
making an appointment to fill a vacancy? - Correct Answers -Arkansas Realtors
Association
What is the primary source of laws and regulations governing real estate licensees in
Arkansas? - Correct Answers -Title 17, Chapter 42 of the Arkansas Code
Which of the following is NOT a legitimate use of the Real Estate Recovery Fund? -
Correct Answers -Disbursing funds to plaintiffs per court orders
