Arkansas Real Estate License Flashcards
7 cards from real Arkansas License Test practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Arkansas Real Estate License flashcards as text
Under the Arkansas Real Estate License Law, how many hours of continuing education must a licensee complete per renewal period?
Answer: 15 hours
Arkansas licensees must complete 15 hours of continuing education each renewal period to maintain an active license.
A buyer's agent in Arkansas discovers a material defect in the property that the seller has not disclosed. What is the agent's legal duty?
Answer: Disclose it to the buyer immediately
Arkansas law requires licensees to disclose all known material defects to buyers, regardless of who they represent.
In Arkansas, which entity has the authority to revoke a real estate license?
Answer: The Arkansas Real Estate Commission (AREC)
The Arkansas Real Estate Commission (AREC) is the state regulatory body with authority to suspend or revoke licenses.
An Arkansas broker is holding earnest money from a buyer. Where must these funds be deposited?
Answer: A federally insured escrow or trust account
Earnest money must be held in a separate, federally insured escrow or trust account and not commingled with the broker's personal or business funds.
Under Arkansas law, a net listing is considered:
Answer: Illegal and prohibited
Net listings are prohibited in Arkansas because they create an inherent conflict of interest between the broker and the client.
Which of the following actions would constitute 'blockbusting' under fair housing law as applied in Arkansas?
Answer: Telling homeowners their neighborhood will decline due to minority group move-ins to induce sales
Blockbusting is the illegal practice of inducing homeowners to sell by making representations about the entry of protected classes into the neighborhood.
A salesperson in Arkansas wants to switch from one broker to another. What is the correct procedure?
Answer: Notify the old broker and file a transfer request with AREC
The salesperson must notify the current broker and submit a license transfer request to AREC before working under the new broker.