AREC
Which law created the Alabama Real Estate Commission?
A-Alabama Real Estate Law
B-Legislative Act 1927
C-US Congressional Act of 1998
D-AREC was not created by a law
Legislative Act 1927
A real estate license that is not longer valid and may not be renewed is called what?
Lapsed License
Continuing education requirements include______________hours of risk management coursework.
6 hours
When does a company license expire?
September 30 of even numbered years
2 years after the date of issuance
August 31 of even numbered years
October 1 every 2 years
September 30 of even numbered years
Sarah is Jerry's qualifying broker. Jerry recently violated license law and caused financial damages to his client Dan. Who is responsible for those damages?
Sarah and Jerry
Of the nine members of the AREC, how many must be consumer members with no real experience for the previous 10 years?
1
Who must hold a valid Alabama real estate license?
A=Any person or business receiving fees for practicing real estate in Alabama
B= Any corporation selling real estate in Alabama
C= Any sole proprietorship, partnership, or corporation leasing real estate in Alabama
D= Any person expecting compensation for working in a real estate office
A= Any person or buisness receiving fees for practicing real estate in alabama
Continuing education requirements must be completed??
A=Continuing education requirements must be completed by
B= prior to license lapse date.
C= by September 30 of final year of license period.
every year.
D= by August 31 of renewal year.
C= by September 30 of final year of license period.
every year.
If a company's qualifying broker dies, how long does the company have to apply for a temporary qualifying broker license for an officer, member, or salesperson of the company?
30 days
Which law sets the roles and duties of real estate brokers?
RECAD
All the members of the AREC must have been Alabama residents and citizens for
10 years
If performed for compensation, which of the following activities does NOT require a real estate license in Alabama?
A=Negotiating real estate commission
B=Leasing or renting real property
C=Listing property for sale
D=Writing real estate contracts
D = Writing real estate contracts
Which of the following is required to successfully complete a continuing education course?
100% attendance
75% score
70%
80% attendance
100% attendance
How long may a temporary qualifying broker operate?
6 months
According to Alabama law, when must a licensee disclose a non-agency relationship to the consumer?
Before confidential information is exchanged
Which of the following is NOT a function of the AREC?
A= License real estate practitioners
B=Enforce real estate laws
C=Establish the Revenue Fund
D=Prosecute complaints
C= Establish the Revenue Fund
James was a real estate licensee for 5 years when his license was revoked 6 months ago. He would like to legally practice real estate again. How can he do that?
He must meet all the requirements for an original license and obtain AREC approval.
An applicant for broker licensure must
complete a 60-hour pre-license course
When the Commission schedules a hearing based on a violation complaint, how much notice does the Commission provide to the accused for the hearing?
15 days
If a seller fails to disclose significant property defects out of ignorance, the seller is most likely guilty of
negligent misrepresentation.
How do individual become members of the AREC?
Each is appointed by the governor with the consent of the State Senate.
Individuals applying for a temporary license in Alabama must?
pay a $30 Recovery Fund fee
Who is required to apply for a company's real estate license?
LLC qualifying broker
If Sue Ellen's original license was issued on March 5, 2017, what is the absolute deadline to renew her license to prevent it from lapsing?
September 30, 2019
Qualifying brokers are required to report business address changes the AREC. To avoid a violation, what must be done?
Return all licenses tied to previous address to the AREC.