State Government of the Real Estate Profession Flashcards

State Government of the Real Estate Profession Flashcards A real estate sales agent is the subject of investigation by the Division of Real Estate. The Superintendent's office sends a letter to the complainant and to the sales agent asking if they would like to meet to discuss the matter. This is called a(n) informal mediation meeting The duties of the Real Estate Commission include promoting the Canon of Ethics If a seller files a complaint with the Ohio Real Estate Commission against a real estate agent, the first step in the investigative process is a(n) informal mediation meeting if both parties agree The Ohio Real Estate Commission consists of four brokers and one lay person Upon deciding to inactivate a license to practice real estate to whom should the broker send the license to?the Division If the Ohio Real Estate Commission finds a real estate agent guilty of misconduct and suspends the agent's license, the agent may file a(n) appeal with the Court of Common Pleas An agent is found guilty of a licensing law violation. The Ohio Real Estate Commission notes in its quarterly newsletter that the agent has had his license suspended and has been fined. This is known as a public reprimand A seller files a complaint with the Ohio Real Estate Commission against a real estate agent. An informal mediation meeting between both parties is held only if both parties agree to the meeting If a sales agent is held liable for a fair housing law violation, the agent's broker is always liable for the discriminatory Actions of the agent How many members of the Commission can belong to the same political party?three When an auditor visits a real estate broker's office and demands to see its records, the broker must be able to produce complete file records going back _____ year(s).three The members of the Ohio Real Estate Commission are appointed by the governor for a term of five years If a sales agent's license is suspended because her broker died, the agent may get her license re-instated by having her new broker request the license When the Ohio Real Estate Commission revokes a broker's license, the licenses of all sales agents associated with the broker are suspended The Ohio Real Estate Commission is required by law to all of the following except issues citations The Superintendent of the Ohio Division of Real Estate isin charge of the Division of Real Estate

If a sales agent is found guilty of violating Ohio real estate advertising laws, the agent may be subject to both fines The Superintendent's office conducts a hearing to determine whether there has been a violation of the Ohio Revised Code. The entity or person who holds a hearing to determine the punishment for a sales agent who has violated the revised code is the Ohio Real Estate Commission A sales agent is found guilty of misconduct by the Ohio Real Estate Commission. The sales agent appeals to the Court of Common Pleas, which affirms the Ohio Real Estate Commission's decision. The next course of action for the agent is filing an appeal with the Ohio Court of appeals Which of the following would issue a citation? the Division of Real Estate Where would a licensee file an appeal based on a decision determined by a formal hearing?Court of common pleas

An auditor arrives at a real estate broker's office at 5:10

p.m. and demands to see the broker's records. The broker's office closed at five o'clock. The broker must ask the auditor to come back during normal business hours The Ohio Real Estate Commission has the duty to hear appeals regarding claims against the Recovery Fund The powers of the Ohio Real Estate Commission include the power to regulate the real estate industry When an auditor visits a broker's office and demands to see the records, the broker must open his files to the auditor if the auditor is conducting the audit during normal business hours What is NOT a duty of BOTH the Superintendent of Real Estate and the Ohio Real Estate Commission?Revoke or suspend licenses