Voluntary/Involuntary & Active/Inactive Flashcards
Which status is required to engage in real estate brokerage services?
active status
Does the licensee need to have an active license when receiving payment?
No, as long as they had an active license at the time the real estate service was performed
Does the licensee need to have an active license when receiving payment?
No, as long as they had an active license at the time the real estate service was performed
What is voluntary inactive?
licensee has timely renewed but chooses not to engage in the real estate business, so they request to be placed in this status
How many times can a licensee renew as voluntary inactive?
Indefinitely
What is involuntary inactive?
A licensee failed to renew the license on time
After how many years of involuntary active does a license automatically expire?
License automatically expires (becomes null and void) after two years
What do you have to do if a license has been involuntary inactive for 12 months or less?
Complete 14 hours of continuing education
What do you have to do if a license has been involuntary inactive for more than 12 months but less than 24 months?
Complete 28-hour reactivation education
