Flashcards in Licensing Requirements (5 items, 7%) Deck (14)
The __________ broker is responsible for:
- the handling of _______ ______ deposits
- trust _______ records
- ________ records
- developing an office ________
- taking reasonable steps to insure that ____________ do not ______ by providing adequate supervision for all affiliated ________.
- earnest money
- violations do not occur; brokers.
The duty of the Employing Broker to supervise includes:
- Employed ________
- Personal _________ of licensed employees.
Licensed employees have primary responsibility for their ______ _________.
UNlicensed assistants may:
- Gather _________
- Provide property _________
- Complete all forms as directed by the ________
- Prepare _____'s
- Handle __________ information
- the licensee
The UNlicensed assistant may also recieve, record and deposit:
- _______ money
*UNlicensed assistants may not get involved in:
- any form of ___________
- provide any professional _______
- offer ________
- independently draft _____ _______, such as listing and sale contracts. *
When buying or selling property for their own accounts, all licensees must disclose that they are __________ in the transaction.
A real estate broker who must be employed and supervised by an _________ ________. An associate broker can only work for ____ employing broker at any time and may not ______ an office.
In addition to the requirements for an independent broker, an employing broker must complete a ___-hour course in _____________ _______________.
A real estate broker with at least __ years experience, who has passed the ___________ portion of the licensing exam within __ years of the date of upgrading to ________ status. An independent broker may open an office, but not hire other _______.
*REASONABLE SUPERVISION: RULE E-31*
The employing broker should maintain a written _____ _______ describing the duties and responsibilities of the employed _________.
The employing broker should also review all _________ and _________ _____ for completeness.
office policy, licensees;
contracts and transaction files
*HIGH-LEVEL SUPERVISION: RULE E-32*
Affiliates with less than __ years of active experience require reasonable __________, plus specific training in office ______ and _________.
policy and procedures.
The employing broker should be available for:
-providing ________ in preparing contracts
-reviewing ________ documents
-attending or having an experienced licensee at _______.