FREE Arkansas Real Estate License AREC Licensing and Regulations Questions and Answers

Question 1

An Arkansas real estate salesperson's license expires annually on what date?

Accepted Answer

December 31st.

Answer

The anniversary of their licensure date.

Answer

September 30th.

Answer

January 1st.

Question 2

A principal broker in Arkansas receives an earnest money check from a buyer on a Friday afternoon for a property with a fully executed contract. According to AREC regulations, by what day must these funds be deposited into the firm's trust account?

Accepted Answer

No later than the following Wednesday.

Answer

The following Monday.

Answer

Within 24 hours of receipt.

Answer

Within three business days.

Question 3

Which of the following is a requirement for all visual advertising created by an Arkansas real estate licensee?

Accepted Answer

The name of the real estate firm must be included and be as large or larger than the licensee's name.

Answer

The licensee's personal phone number must be the most prominent contact information.

Answer

The property's list price must be clearly stated in all advertisements.

Answer

A photo of the licensee must be included on all yard signs.

Question 4

An active Arkansas real estate salesperson wants to renew their license. What is the annual continuing education (CE) requirement they must meet?

Accepted Answer

6 hours of electives and 1 hour of safety.

Answer

10 hours, with 2 hours in contract law.

Answer

7 hours, with at least 3 hours focused on ethics.

Answer

12 hours, with a mandatory 3-hour legislative update course.

Question 5

A new salesperson, licensed on March 10th, must complete their 18-hour post-license education by what deadline?

Accepted Answer

By the end of the month, six months after their initial license date.

Answer

Within the first year of licensure.

Answer

Before their first license renewal.

Answer

By the end of September of the same year.

Question 6

Under what circumstances may a principal broker in Arkansas maintain their own personal funds in a designated trust account?

Accepted Answer

To maintain a minimum balance required by the financial institution.

Answer

To cover potential overdrafts from disputed transactions.

Answer

Never; commingling of any kind is strictly prohibited.

Answer

To pay for office expenses directly from the account.