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
In Arkansas, how long is the initial real estate salesperson license valid before requiring renewal?
Answer: 2 years
An initial Arkansas real estate salesperson license is valid for two years from the date of issuance.
A listing agent receives two offers simultaneously on a property. What must the agent do under Arkansas agency law?
Answer: Present both offers promptly to the seller
An agent must present all offers to the seller promptly and in a timely manner, allowing the seller to make an informed decision.
Under Arkansas real estate law, the term 'puffing' refers to:
Answer: An exaggerated, non-factual promotional statement
Puffing is an exaggerated or subjective opinion (e.g., 'best neighborhood in town') that is not considered fraudulent misrepresentation.
An Arkansas broker who wishes to open a branch office must:
Answer: Register the branch office with AREC
Each branch office must be registered with AREC and may require a designated managing broker responsible for that location.
Which type of agency relationship is created when a buyer tells an agent 'I want you to work for me' and the agent agrees, but nothing is put in writing?
Answer: Implied agency
Implied agency is created by conduct or verbal agreement without a formal written contract between the parties.
In an Arkansas transaction, 'procuring cause' most directly determines:
Answer: Which broker is entitled to the commission
Procuring cause identifies which broker's efforts were the unbroken series of events leading to the sale, thus entitling that broker to the commission.
Under Arkansas law, which disclosure must be made to all parties in a real estate transaction regardless of agency relationship?
Answer: Known material defects in the property
Regardless of agency, all licensees must disclose known material defects that could affect the value or desirability of the property.