Qualification for and Obtaining an Alabama Real Estate License

Qualification for and Obtaining an Alabama Real Estate License (Section 17, Unit 1) Flashcards Applications must include documentation verifying the

following information:

must complete a background check and fingerprint scan This agreement must be filed with the commission within 10 days. By signing it, the non-resident licensee agrees to abide by all Alabama laws, rules, and commission regulations, and acknowledges that civil actions may be filed against the licensee for violation of those laws.Give advice to a friend who is negotiating the purchase of a house.Jessica has just taken her Alabama real estate license exam. If she passes the exam, what will the exam proctor provide to her?A copy of her real estate licenseA license numberAuthorization to begin real estate activitiesThe licensure application A sponsoring broker Alabama will grant reciprocal licenses to out-of-state licensees in the same license category that they already hold in their state.Applicants must provide their license history (Certificate of Licensure) (obtained no more than 120 days before application) to the commission issuing a reciprocal license.The history must include the following

information:licensee's name and addresslicense

statuslicense typeactive and inactive status for the previous 36 monthsverification of passed exam and the type of exam (national or state)records of any disciplinary actionother documentation the commission may require.This is false. Reciprocal licensees aren't required to complete the temporary license requirements imposed on new licensees.T/FReciprocal licensees must complete the Alabama real estate temporary license requirements.Applicants whose applications have been rejected or who have had a license revoked in another state are ineligible for licensure in Alabama for XX years unless the Alabama Real Estate Commission waives that decision.sixtwelve The co-brokerage agreement must specify the parcel(s) of property the agreement covers, and all relevant terms of the agreement, including compensation.Alabama broker must supervise all showing and negotiations, and the Alabama broker's name must appear in any advertising Non-resident licensees whose states offer co-brokerage may cooperate with Alabama brokers by entering into a written co-brokerage agreement FalseReciprocal licensees may take continuing education courses in Alabama or prove that their license is still in good standing in their home state.T/FReciprocal licensees must complete Alabama continuing education coursework.Broker's license applicants must prove that they held an active Alabama license for at least 24 of the previous 36 months.TrueFalse This is false. Like salespersons, brokers complete 60-hours of license-level-relevant education.

Licensing helps ensure that real estate professionals have adequate education, knowledge, and supervision, and it provides regulatory oversight and the ability to discipline those who violate the rules of the profession.Doesn't Require a Licenseacting as his trustee Applicants must pay the required exam and licensing fees, as well as any fees associated with the background check/fingerprinting process. Prior to converting their temporary license to an original license, they must also pay the recovery fund fee specified by the commission, if not previously paid with a temporary license.Display the salesperson's license in a public placeBe responsible for the salesperson's actionsProvide supervision and training Not part of the processMcKenna must get approval from Evan's current managing broker.Part of the processNot part of the process Not part of the processEvan must complete coursework on how to transfer his license.Part of the processNot part of the process steps to move brokers:While these procedures still appear in Alabama license law, current procedure allows the licensee to transfer online for a fee and the prior qualifying broker and new qualifying broker are notified by the commission after the transfer is complete.T/FBroker's license applicants must complete 75 hours of pre-licensing coursework.90 days of your examination date.Broker applicants must have been actively licensed as a salesperson in any state for at least XXX months before application.FalseThis is false. The timeframe is correct, but out-of-state applicants can use their active license status in that state to qualify them for an Alabama broker's license.Jamie has been appointed as executor of Justin Willis's estate. Justin recently passed away, and Jamie is tasked with selling his property.Requires a License?Doesn't Require a License?two

salesperson and broker.Alabama law defines two levels of licensing:

This is true. One of the main benefits of affiliation is the access to a broker's experience, which should be made available through supervision and training.T/FYou can expect to receive additional real estate training from your broker.TrueT/Fthe new broker must file, with AREC, a request for a licensee transfer.What must you have to apply as a real estate salesperson in Alabama?A 90% or better on pre-licensing education examsA bachelor's degreeA six-month reserve of operating fundsA sponsoring broker Doesn't need a real estate license Your exam proctor will provide you with a licensure application when you pass your pre-licensing exam. You must apply for your license within AgeCitizenshipHigh School Education

a broker agrees to:Provide written notice to the commission, by certified or

registered mail, that you want to transfer your license.Give a copy of this notice to your current broker.Your new broker

must file the following with AREC:-A request for your

transfer-A statement assuming liability for youPay required fees to AREC.AREC issues you a new license that's good for the unexpired term of your original license (i.e., if your license was due to expire in seven months, your newly issued license is good for seven months).Applicants for initial reciprocal salesperson or broker licensure must first complete six hours of Alabama license law coursework in their category of licensure. Applicants

must then schedule their reciprocal licensing exam, pay the fee, and pass with a minimum 70% score within six months of completing their coursework.Reciprocal licensees must complete one of the following

continuing education requirements:-15 hours of

commission-approved continuing education