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Questions and Answers
What is the penalty for acting as a broker, affiliate broker, time share salesperson, or acquisition agent without first obtaining a license?
What is the penalty for acting as a broker, affiliate broker, time share salesperson, or acquisition agent without first obtaining a license?
- Fine of $1,000
- Class B misdemeanor (correct)
- Class C misdemeanor
- Class A misdemeanor
What is the maximum amount of liability covered by the Real Estate Education and Recovery Account per transaction or for the duration of any licensee's career?
What is the maximum amount of liability covered by the Real Estate Education and Recovery Account per transaction or for the duration of any licensee's career?
- $20,000
- $15,000 (correct)
- $30,000
- $10,000
What is the definition of Corporeal in real estate?
What is the definition of Corporeal in real estate?
- Rights granted to a developer for the development of a project
- Conditions or occurrences that have negative impact on the value of real estate
- The right to possess visible, tangible real property or personal property (correct)
- Non possessory rights, intangible rights in real property
