Arkansas Real Estate License License Law and Disclosures Questions and Answers Flashcards
6 cards from real Arkansas Real Estate License practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Arkansas Real Estate License License Law and Disclosures Questions and Answers flashcards as text
What is the continuing education requirement for Arkansas real estate license renewal?
Answer: 6 hours annually
Arkansas requires licensees to complete six hours of approved continuing education each year to maintain their license.
Under Arkansas law, which of the following situations would require a property condition disclosure form?
Answer: Sale of a previously occupied single-family home
The Arkansas property disclosure requirement applies to sales of previously occupied residential properties.
A real estate licensee in Arkansas discovers that a listed property was the site of a methamphetamine lab. What is the licensee's disclosure obligation?
Answer: The licensee must disclose this fact to prospective buyers
Arkansas law requires disclosure of known meth contamination because it constitutes a material defect affecting property value and safety.
How long is an Arkansas real estate license valid before it must be renewed?
Answer: One year
Arkansas real estate licenses are issued for a one-year period and must be renewed annually.
Which of the following actions could result in suspension or revocation of an Arkansas real estate license?
Answer: Commingling client funds with personal funds
Commingling client funds with personal funds is a serious violation that can result in license suspension or revocation in Arkansas.
Under the Arkansas Real Estate License Law, which of the following is exempt from licensing requirements?
Answer: An owner selling their own property without an agent
Property owners selling their own real estate are exempt from the Arkansas licensing requirement.