Alabama STATE Real Estate Practice Exam Flashcards

Alabama (STATE) Real Estate Practice Exam Flashcards How must qualifying broker Rudy ensure that his affiliated licensees understand the types of agency relationships allowed at their brokerage?Continually update the brokerage's agency disclosure office policy and hold a formal training with his licensees every six months to ensure they understand the current policy.Create a 16-by-24-inch poster identifying the types of agency relationships permitted and hang it throughout the brokerage.Provide a copy of the brokerage's agency disclosure office policy and explain it to his licensees at least once a year.Test his licensees at least every quarter on the types of agency relationships permitted and hold special trainings for anyone who doesn't pass the test.Provide a copy of the brokerage's agency disclosure office policy and explain it to his licensees at least once a year.Which of the following activities can a person do without a real estate license in Alabama?Manage propertyPerforming a market analysis for a propertySelling personally-owned propertySell real estate at an auction Selling personally-owned property Which of the following statements about Alabama company real estate licenses is true?A single company license is issued for all locations licensed under a qualifying broker.If the qualifying broker dies or becomes incapacitated, the license is valid until September 30 of the following year.The qualifying broker for each location must apply for the license.The qualifying broker isn't allowed to maintain more than one place of business.The qualifying broker for each location must apply for the license.Ronald doesn't have a real estate license. Which of the following acts can he complete?Accept a commissionFile paperworkHost an open housePresent an offer File paperwork Should the broker end up in litigation, any trust funds not safely tucked away in a trust account could be ______.DisbursedEliminatedFrozenReallocated Frozen Which of the following agents does NOT need to present the Real Estate Brokerage Services Disclosure form to the consumer?Bruce is looking to buy a piece of commercial property and asks Donna to represent him.Fran and James Bloom are looking for a house in a certain neighborhood and want to know if agent Chad can help them.In his capacity as a property manager, Chad meets with the DeLucas, who want to rent a unit in that property.Lucia tells agent Polly that she wants someone to act as her transactional agent when she puts her house on the

market.In his capacity as a property manager, Chad meets with the DeLucas, who want to rent a unit in that property.Which of these is an example of a real estate violation?A licensee didn't inform all parties that she was the listing agent.A licensee discussed using a three-month period for her new listing with a seller.A licensee negotiated a listing agreement ending date so that his agreement would end after a home would typically sell in the current market.A licensee told his new seller clients that he typically uses a six-month term for all of his listings.A licensee didn't inform all parties that she was the listing agent.

The commission is investigating the actions and records of Alabama licensee Thomasina. Which of the following is true?The commission can investigate Thomasina without a written complaint.The commission must have notified Thomasina, and her qualifying broker, before beginning the investigation.The commission must have received a written complaint about Thomasina.The commission must have received Thomasina's permission to do this.The commission can investigate Thomasina without a written complaint.Which of the following is true about Alabama Real Estate Commission hearings?No witnesses are allowed to be present.They are held once per month.They are private.They are usually held in Montgomery County.They are usually held in Montgomery County.Huntsville licensee Caden gave his buyer client a cash rebate as part of a recent real estate transaction. Which of the following statements about the cash rebate is true?Although it's illegal for licensees to receive cash rebates as part of a real estate transaction, they can give them.It's illegal for licensees to give cash rebates as part of a real estate transaction.Licensees may give and receive cash rebates, but they aren't allowed to give or receive cash gifts or prizes as part of a real estate transaction.Licensees may legally give cash rebates to buyer clients as part of a real estate transaction, but not to seller clients.It's illegal for licensees to give cash rebates as part of a real estate transaction.Which one of the following is a true statement regarding temporary qualifying brokers in Alabama?They are appointed by the AREC when a qualifying broker dies or becomes incapacitated.They are appointed by the company president when a qualifying broker dies or becomes incapacitated.They are chosen by the company when a qualifying broker dies or becomes incapacitated and must apply for a temporary qualifying broker's license.They are chosen by the company when a qualifying broker dies or becomes incapacitated and must apply for a temporary qualifying broker's license.Non-trust funds, as long as they're not commingled with trust funds, are not bound by _______.Banking regulationsInternational trade rulesReal estate lawsState laws Real estate laws Tammy received her license renewal notice from the Alabama commission. When will the renewal deadline fall?Every two years on August 31 of even-numbered yearsEvery two years on September 30 of odd-numbered yearsOn her birthdayOn the anniversary of the date Tammy's license was issued Every two years on August 31 of even-numbered years AREC is looking for a new commission member to fill the "consumer" slot. Which of the following people is eligible?Cynthia, age 55, who has a master's degree and

has lived in Alabama for the past five years.Sylvia, a registered voter, whose uncle Doug is the most successful real estate broker in Evergreen.Terry, 43, who worked as a real estate licensee until he was 28. He now owns a small bakery in Tuscaloosa.Timothy, age 20, an African American, who owns a condominium complex in Birmingham.Terry, 43, who worked as a real estate licensee until he was 28. He now owns a small bakery in Tuscaloosa.