Arkansas License Test Arkansas Real Estate License 3

Question 1

In Arkansas, how long is the initial real estate salesperson license valid before requiring renewal?

Accepted Answer

2 years

Answer

An initial Arkansas real estate salesperson license is valid for two years from the date of issuance.

Question 2

A listing agent receives two offers simultaneously on a property. What must the agent do under Arkansas agency law?

Accepted Answer

Present both offers promptly to the seller

Answer

An agent must present all offers to the seller promptly and in a timely manner, allowing the seller to make an informed decision.

Question 3

Under Arkansas real estate law, the term 'puffing' refers to:

Accepted Answer

An exaggerated, non-factual promotional statement

Answer

Puffing is an exaggerated or subjective opinion (e.g., 'best neighborhood in town') that is not considered fraudulent misrepresentation.

Question 4

An Arkansas broker who wishes to open a branch office must:

Accepted Answer

Register the branch office with AREC

Answer

Each branch office must be registered with AREC and may require a designated managing broker responsible for that location.

Question 5

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?

Accepted Answer

Implied agency

Answer

Implied agency is created by conduct or verbal agreement without a formal written contract between the parties.

Arkansas License Test Practice Test

Arkansas License Test Practice Test

Arkansas License Test Arkansas Real Estate License 3