Unit 3 Exam Flashcards
If you have the kind of license that requires 16 hours of continuing education - in order to practice you have to
Affiliate with a broker
A person’s license expired 20 days ago - in order to avoid renew license without penalty she should do it within
10 Days
What type of license:
Just received and can be renewed next year
Salesperson
If a salesperson works for a sponsoring broker what must that broker do with his pocket card?
He must carry it
A licensee is considered to have this type of license if they have no sponsoring broker
Inactive
Information that is not required to maintain by a principal broker
Record of past client’s credit history
Brokers must keep records of signed dual agency consent forms for
Three (3) Years
Some roles and responsibilities of a sponsoring broker
To supervise and train you.
Submit an application and fee to the VREB and written affidavits from principal brokers of each brokerage where the broker intends to work.
To obtain concurrent licensure.
