Chapter 2 Flashcards Preview

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Flashcards in Chapter 2 Deck (15):
1

Sales associates may be licensed under a

Broker or older employer such as a developer

2

What are the licensing in registering requirements for brokers and owner employers

Brokers are registered and licensed owner employers are registered but not licensed

3

What post license education most all sales associates complete

45 hour post license course prior to the expiration date on their initial license.

4

What is the penalty for sales associates who do not complete the post license education

Failure to complete the required course prior to the Expiration of the initial license will cause the listens to become void in the licensee will be out of business

5

What is a broker associate

The broker associate is a person who has the brokers license but chooses to continue employment in a sales associate position with current employer

6

A B A R S A L E

A - appraising B - Buying A- Auctioning R - Renting S - Selling A - Advertising L - Leasing E - Exchanging

7

What is it attorney in fact

In attorney in fact is the person granted authority under a power of attorney to act for others in some capacity such as signing documents

8

What is an attorney at law

In attorney at law may perform legal services on behalf of their clients

9

 

 

What are the three diffrent types of corperations?

Q image thumb

 

 

1 - Disposable

2 - Holding

3 - For Others

 

10

 

 

When employed by and licensed under a Broker, a sales associate or

broker associate acts as the brokers ________?

 

 

 

Agent in performing the services of real estate

11

 

 

 

What is an owner employer?

 

 

An owner employeris an individual or company that is in the buisness of

buying, owning and or developing real estate. The owner employer is regisetered with the Department bu recives no real estate license.

12

 

 

A sales associate fails to complete the required post license education prior

to renewal. What is the status of his license?

 

 

 

VOID

13

 

 

 

Registration of an aactive sales associate with the department refers to what three things?

 

 

Keeping on record the sales associates 

name

home address

buisness address of his employing broker

14

 

 

A broker associate is?

 

 

 

A broker employed as a sales associate

15