Arkansas Real Estate License Arkansas Real Estate License AREC Rules and Regulations Questions and Answers 2

Question 1

Under AREC regulations, how long does a licensee have to notify the Commission of a change in personal address?

Accepted Answer

10 days

Answer

Arkansas Real Estate Commission rules require licensees to notify AREC of any address change within 10 days.

Question 2

What is the maximum civil penalty AREC can impose per violation on a licensee?

Accepted Answer

$5,000

Answer

AREC has the authority to impose civil penalties of up to $5,000 per violation under Arkansas real estate law.

Question 3

Which of the following actions would be considered commingling under AREC rules?

Accepted Answer

Mixing client funds with the broker's personal or operating funds

Answer

Commingling occurs when a broker mixes client trust funds with their own personal or business operating funds.

Question 4

Under Arkansas law, what continuing education requirement must licensees complete for each renewal cycle?

Accepted Answer

6 hours annually

Answer

Arkansas requires licensed real estate professionals to complete 6 hours of approved continuing education each year for license renewal.

Question 5

When must a principal broker notify AREC after terminating a licensee's association with the brokerage?

Accepted Answer

Within 10 calendar days

Answer

AREC regulations require the principal broker to notify the Commission within 10 calendar days of a licensee's termination from the firm.

Arkansas Real Estate License Practice Test