appropriate licensing examination

unit2 ch 14 Flashcards License RequirementsBe free of professional and criminal convictions and sanctionsSatisfy age and educational requirementsSubmit an application and pay appropriate feesPass the appropriate licensing examination Which of the following courses qualifies for continuing education credit?land development A real estate broker who is called to active military duty in another state is entitled to a 180-day renewal extension after discharge or release if which of the following requirements applies?A real estate broker who is called to active military duty in another state is entitled to a 180-day renewal extension after discharge or release if which of the following requirements applies?Which of the following statements is accurate regarding the real estate examination?The examination is divided into two sections.Which of the following is a requirement for obtaining a real estate license in Indiana?Must be free of criminal convictions Continuing education courses can be taken on the Internet.yes

License requirements:The license must be displayed at the broker's place of

business.The license must be assigned to a managing broker for the first 2 years after being issued. The broker must immediately notify the Commission of the name and business address of the managing broker and any changes of managing broker that may occur.Licenses granted to partnerships, corporations, and limited liability companies are issued, expire, renew, and are effective on the same

terms as licenses granted to individual brokers, unless:any

partner in a partnership,all individuals in a corporation,any member in a member-managed limited liability company,or all individuals in a manager-managed limited liability company terminate the license of the partnership, corporation, or limited liability company.Continuing education courses do not need approval of the Commission no If a broker fails to renew the license on or before the expiration date, the Commission may require which of the following?pay a fee

Inactive license:No continuing education requirementsCannot perform acts

that require licenseMust pay required feesMust renew every 3 yearsMust complete education requirements to reactivate Unlicensed associates:Cannot perform acts that require license, such as selling, buying, listing, leasing real estateCannot prepare advertising materials without approval of brokerCannot

show property or conduct open housesCannot answer specific questions or discuss contractsCannot telemarket for listingsCannot negotiate commissions or other feesCan perform administrative activities

Military personnel renewal:180-day extension granted on renewal and continuing

education if called to active duty

To maintain proof of licensure,the broker's license must be displayed at the broker's place of business.describe what an individual with an inactive license is and is not allowed to do.Not allowed to perform any act that requires a license, such as selling or listing real estateAllowed to forego completing continuing education requirementsMust pay any fees a licensee is required to payMust renew the license every 3 years If a broker does not renew the license for more than 3 years after the expiration date, he or she must start all over to obtain a new license, including the licensure education course and examination.no A broker with an inactive licensemust pay any fees a licensee is required to pay If the broker completes more than the required course hours for 1 year, the extra hours cannot be carried over to the following year.To maintain proof of licensure, An unlicensed associate is permitted to conduct an open house.no A nonresident broker must take and pass the Indiana licensure law section of the broker examination to practice real estate in Indiana.yes The only agency in Indiana who may impose license requirements is the commission Which of the following is an act an unlicensed associate can perform?assemble documents for closing Which of the following is the correct process for obtaining a real estate license in Indiana?Meet the basic license requirements. 2. Take and pass required coursework. 3. Submit the application and fee. 4.Take and pass the examination.manager-managed limited liability compan include a licensed broker who resides in Indiana who is a manager of the company; or if no manager resides in Indiana, a licensed broker who is the highest ranking company officer or employee in Indiana with authority to bind the company in real estate transactionsinclude a broker who is a licensed managing broker A broker's license needs to be renewed every 2 years.no member-managed limited liability company include only members who are licensed brokersinclude at least one member who is a resident of Indiana, or have a managing broker If the broker fails to comply with the continuing education requirements, demand proof of compliance from the broker Broker is on active military dutyPostlicensing requirements include which of the following?When is the Indiana real estate license expiration date?All brokers must complete approved continuing education each year unless Broker must pass 30 hours of postlicensing education within first 2 years To reactivate an inactive license, the broker

Motivational seminars qualify for continuing education credit.no An individual licensed as a salesperson can renew the salesperson license after July 1, 2014.no Which of the following courses qualifies for continuing education credit?Land development An individual serving on active duty in the armed forces during the licensure period can request a waiver from completing the continuing education requirements for that time frame.yes A new broker's license must be assigned to a managing broker for the first 3 years, until license renewal time.no during the 3 year leisure periodWhich of the following statements is accurate regarding continuing education?

Evidence of licensure:License must be displayed at place of businessOffice must

maintain evidence of current licensure for all brokersMust provide proof of current licensure to Commission if requested Which of the following is an act an unlicensed associate cannot legally perform?Make phone calls seeking listings for the licensed broker If the licensing agency delays renewing a broker's license to investigate suspicions of acts that may warrant discipline, which of the following must the agency do within the 90-day delay period?renew the license and place the broker on probation status