Arkansas Real Estate License AREC Licensing and Regulations 4

Question 1

An Arkansas broker who wishes to operate as a sole proprietor must:

Accepted Answer

Register with AREC as an individual broker

Answer

A sole-proprietor broker must register with AREC as an individual broker and is personally responsible for all transactions.

Question 2

Under Arkansas regulations, which of the following must be kept in a real estate firm's transaction file?

Accepted Answer

All written offers and counteroffers

Answer

Arkansas requires that all written offers and counteroffers be retained in the transaction file for the required record-keeping period.

Question 3

How many hours of continuing education must an Arkansas real estate licensee complete per renewal cycle?

Accepted Answer

18 hours

Answer

Arkansas licensees must complete 18 hours of approved continuing education per two-year renewal cycle.

Question 4

An Arkansas real estate licensee who advertises a property must ensure that the advertisement:

Accepted Answer

Clearly identifies the brokerage name

Answer

All advertising must clearly identify the brokerage (firm) name so consumers know which company is responsible.

Question 5

In Arkansas, a licensee who wishes to place a 'For Sale' sign on a property must first:

Accepted Answer

Have written authorization from the property owner

Answer

A licensee must have written authorization from the property owner before placing any signage on the property.

Arkansas Real Estate License Practice Test