Real Estate State Exam: Alabama Law Questions 1-35 Flashcards

Real Estate State Exam: Alabama Law Questions (1-35) Flashcards

When a complaint is filed against an Alabama licensee:The commission must notify the licensee of the charge at least 15 days prior to the hearing An individual violating a provision of the Real Estate license

law for the first time can, if convicted, face:

a fine of not less than $100 and no more than $2500 Which of the following is not grounds for suspension, or revocation of a license or other punishment of the licensee by the Real Estate Commission?Failing to notify the Multiple Listing Service of a sale of listed property.A $25 transfer fee must be paid for all of the following

except:

active licensee transferring to inactive status A real estate company can provide any of the following real

estate services except:

appraise property for seller which of the following is not a requirement for a real estate licensee in Alabama?having a real estate qualifying broker sponsor applicant for license exam A qualifying broker is required to keep copies of sales contracts, records of trust monies, and other documents

relating to a sale of real estate for a period of:

Three years All of the following are violations of the license law except:taking an exclusive right-to-sell listing for a period longer than 180 days Broker Adams is the listing broker for a house owned by John Doe. The house is sold and Adams collects $1000 earnest money which he deposits in his business account along with other commissions he has collected on houses

sold by his firm. Adams is guilty of:

Commingling of Funds A nonresident broker may engage in real estate in Alabama

if he or she has:

Entered into a separate co-broker agreement for each parcel of property with a licensed Alabama broker who has filed a copy of such agreements with the Alabama Real Estate Commission All of the following are true concerning an inactive licensee

except:

a reactivation course is required to activate a license which has been inactive for more than 50% of the during the proceeding 24 month period Les Carnes made application for an Alabama Real estate License. After completing the necessary requirements, he was issued a salesman's license. Soon after receiving his license, the commission discovered he was 18 years of age instead of 19 as reported on the application.This would be considered a material misstatement of fact and Carnes would be guilty of a Class A misdemeanor All of the following are true concerning a real estate broker

except:

broker is required to only have one license no matter how many companies broker serves as qualifying broker If a corporation wishes to engage in the real estate practice in Alabama, it must designate a licensed broker who is to

be the:

Qualifying broker

To qualify for a real estate salesman license in Alabama, a

person must:

complete a course of study having a minimum of 60 classroom hours RECAD requires all of the following except: provide consumers with a consumer information booklet explaining the different types of Agency Services they may choose from All of the following are regulated by the Alabama Real

Estate License Law Except :

Real Estate Appraiser A company who wishes to maintain more than one

business location must apply for:

a license for each location

The primary purpose of the Real Estate Commission is to:Protect the public

Broker Kilroy listed property owned by Patton and he wrote in the listing agreement "seller to net no less than $110,000 with broker to receive any and all above this amount as

commission." This is an Ex of:

a net listing All of the following are violations of License Law except:Establishing a minimum acceptable commission for your services Under Alabama law, a licensee is prohibited from all of the

following except:

Failing to maintain adequate records of withdrawals and disbursements from his or her business account every active licensee must pay an initial fee of ________ into the Alabama Real Estate Recovery Fund $30 A licensed real estate broker who is engaged by or on

behalf of a licensed qualifying broker is called:

Associate broker A real estate license is required for all of the following

except:

selling personally owned property Listing agreements in Alabama may be any of the following

except:

may provide in the written listing agreement for it to automatically renew for an additional period in the event the property has not sold in the original listing period Broker Hagan placed the following ad in his local newspaper. Which of the following would be correct concerning license law?"Real sharp BR, 2 BA house in quit

neighborhood. If interested write to: P.O. Box 562,

Anytown, AL 35223" the ad is acceptable under Alabama License Law if the property belongs to broker Hagan

The annual license fee for the Broker's License is:$95

Broker Mary Hart operates a brokerage business within the

corporate city limits of Montgomery. Hart:

Must be sure her office is located on property zoned for business Each sales associate and associate broker must do all of

the following except:

complete 15 hours of C.E. courses each year After passing the license exam, applicant has the following

option:

take 90 days to decide on how to have license issued Broker license applicant must meet all of the following

requirements except:

have been actively licensed for 24 out of the last 36 months in Alabama The commission's final decision on a disciplinary action hearing may be appealed to the Alabama circuit court

within:

30 days

If a broker terminates the employment of a salesperson,

the broker must:

notify the commission and return the salesperson's license to the commission A real estate sales person may engage in the real estate business without being under the direct supervision of a

broker only if he or she:

none of the above