ARS Title 32, Ch 20 Article 3-5 Flashcards
When brining action in court to collect a commission, a broker or salesperson must prove
a. there was a listing
b. they were licensed when the cause of action arose
c. the property sold
d. the property was leased
B.
A licensed salesperson can receive an extra bonus for completing a difficult sale from the
a. ecstatic seller
b. employing broker
c. appreciative buyer
d. lender
B.
An unlicensed assistant may be paid
a. a fee for generating leads
b. a salary which is not based on transactions closed
c. commissions based on commercial property sales
d. a quarterly bonus for the amount of transactions closed
B.
For an out of state broker to perform real estate services in AZ, all are req’d EXCEPT
a. a written agreement w/ an AZ broker
b. the AZ broker’s agreement to be liable for the out of state broker’s activities
c. the out of state broker to indemnify the AZ broker
d. “” broker’s license must be active in their state
C.
all EXCEPT
Regarding unlicensed asst’s, all are true EXCEPT
a. they may be employed by a salesperson
b. they may not be paid based on closed transactions
c. they may only be employed by a broker
d. their activities are regulated by a substantive policy statement
C.
An escrow company may disburse commissions directly to a broker’s salesperson if the
a. salespersons license is inactive
b. broker gives written auth to the escrow company annually
c. escrow agent is also a licensed broker
d. escrow agent receives written auth from the broker in each transaction
D.
All of the following individuals can collect from the Recovery Fund EXCEPT a
a. buyer
b. out of state resident
c. lessee
d. licensee
D
Which is NOT grounds for license suspension or revocation
A. conviction of a felony
b. making false promises
c. commingling of funds
d. a traffic violation
D.
A licensee submits a renewal application to the ADRE. Two weeks later, the licensee is notified that the license is missing one CE requirement. The broker would be responsible to compensate the licensee for all of the following transaction EXCEPT transactions that
a. closed prior to the licensee’s renewal date
b. closed of were in escrow prior to the licensee’s renewal date
c. were negotiated after the licensee’s renewal date
d. were negotiated on the licensee’s renewal date
C.
A listing may be assigned
a. to another broker by the listing agent
b. by one broker to another broker if the salesperson gives written permission
c. by the listing broker to another salesperson in the broker’s company
d. to another broker w/o the seller’s permission if the listing broker sells the company
C.
Which is NOT an employment agreement
a. purchase and sale agreement
b. property management agreement
c. buyer broker agreement
d. listing agreement
A.
A RE employment agreement
a. may have an open expiration date
b. may not include an automatic renewal provision
c. must be signed by the client only
d. should comply w/ standardized commission rates
B.
Which is NOT grounds for suspending/revoking a broker’s license
a. signing a client’s name electronically if the client auth it verbally
b. failing to supervise salespersons in the broker’s employ
c. paying an unlicensed person for clerical services
d. paying a referral fee to a salesperson employed by another broker
C.
If a broker is found to be in violation of a statute or rule, the Commissioner may fine the broker a MAX of
a. $500
b. $1000
c. $1000 per violation
d. $5000
C.
Which of the following would create an agency relationship
a. commission agreement
b. listing agreement
c. purchase agreement
d. rental agreement
B.
