ARKANSAS REAL ESTATE EXAM 2026/2027 WITH COMPLETE SOLUTION GUIDE

principal broker ✔- an individual who performs certain real estate services for
another party for compensation. ultimately responsible for the company's
activities, notably the activities of other licensees as well as the business's trust
accounts.
real estate duties not requiring license ✔- Delivery of a lease application or
lease.
Receiving a lease or lease application for delivery to the principal broker, real
estate firm, or owner.
Receiving a security deposit, rent payment or related payment for delivery to the
principal broker, real estate firm, or owner.
Acting under the direct written instructions of the principal broker, firm or owner
in:
Showing a rental unit.
Assisting in the execution of a preprinted lease or rental agreement containing
pre-established terms.
Conveying information regarding a lease transaction prepared by the principal
broker, firm, or owner to any person.
executive broker ✔- a licensed broker employed and supervised by a principal
broker as an employee or independent contractor who can perform real estate
services under the auspices of the principal broker, but who also has the authority
to supervise associate brokers and salespersons.
associate broker ✔- licensed broker who, as an employee or independent
contractor, may perform real estate services under the supervision of a principal
broker or executive broker. The associate broker may not supervise any other