Revocation Flashcards
A revocation is the _____ penalty the FREC can impose on a licensee
most severe
Is revocation permanent?
yes
What happens if a broker has their license revoked and they are the only active broker?
It could prevent the entire brokerage from operating
What should licensees do if they are under a revoked broker?
move their license to another broker
What happens if a licensee doesn’t move to another broker when their broker has their license revoked?
Their license status will be changed to current/inactive
What is revoke without prejudice?
The commission accidentally issued the wrong license
It revokes it and lets the licensee reapply for the right license. For example, it accidentally gave a barber’s license, so it would revoke without prejudice the barber’s license, and the person can apply for a real estate license.
