Which of the following does not fall under the exceptions to requiring an Indiana real estate license quizlet?

Which of the following does not fall under the exceptions to requiring a real estate license in Indiana? Real Estate Commission. Why can a licensed auctioneer sell property at a public auction without a real estate license?

Which of the following is exempt from the real estate licensing law in Colorado?

In Colorado, who of the following is exempt from real estate license law? Investor who owns 12 investment properties and sells one to an owner-occupant. … … Attorneys are normally exempt from real estate license law while practicing law but must have a license to act as a broker.

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Does a person who agrees to a commission for the sale of real estate require an Indiana real estate license?

No, because in Indiana, a real estate broker must have a permanent office in which his or her license is displayed.

What is one purpose of the Indiana real estate Recovery Fund?

Managed by the Indiana Real Estate Commission, the Indiana Real Estate Recovery Fund was established to protect consumers and clients from cash losses due to unlawful practices by real estate licensees.

What is the purpose of the Indiana real estate Investigative Fund quizlet?

The fund was established to protect the public by covering the expenses of investigating and taking enforcement action against real estate and appraisal fraud.

Which class is protected under under Colorado Fair Housing and not the federal Fair Housing?

Most of the CCRD’s housing cases are dual-filed with HUD; however, Colorado’s fair housing laws are more expansive than the federal fair housing law – as Colorado has more protected classes (ancestry, creed, marital status, sexual orientation, and source of income), and it applies to more properties (federal law does …

Which of the following Commission approved deeds of trust would most likely be used to enable the borrower to offer an assumable loan if when selling the property?

Answer: as early in the transaction as possible. Which of the following Commission-approved Deeds of Trust would most likely be used to enable the borrower to offer an assumable loan if/when selling the property? Deed of Trust – Due on Transfer – Creditworthy.

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Which of the following protects the broker’s commission?

A safety protection clause in a listing agreement entitles the real estate broker or agent to a commission after the listing expires or is canceled. This applies when the final buyer was brought to the deal by the broker.

Which of the following can the Commission not do with respect to a nonresident license?

Which of the following can the commission NOT do with respect to a nonresident license? Require the nonresident licensee to move to Tennessee. A property’s taxes are $9,540 and are paid for in arrears.

Which of the following is a type of agency that does not place fiduciary duties on the agent?

Designated agency means the clients do not have the full level of fiduciary duties available to them that they would have if they were fully involved in seller agency or buyer agency.

What is real estate Recovery fund?

The real estate recovery fund means funds used for the reimbursement of aggrieved persons who suffer monetary damages due to acts committed by licensed real estate brokers or salesmen. Provided such act must be performed by a broker or salesman.

Who administers Indiana real estate Recovery fund?

Sec. 1. (a) The real estate recovery fund is established for the purpose set out in this chapter. The fund shall be administered by the real estate commission.

What is the purpose of the real estate Recovery fund quizlet?

What is the purpose of the Real Estate Recovery Fund? The answer is to provide a means of compensation for actual monetary losses suffered by individuals as a result of the acts of a licensee who violated the license law or committed other illegal acts related to a real estate transaction.

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How does the Indiana real estate Commission protect consumers quizlet?

List five ways the Real Estate Commission protects consumers. Enforces rules and punishes offenders. Establishes and enforces requirements for licenses. Reviews records of all licensees.

How does the Indiana real estate Commission protect consumers?

The Indiana Real Estate Commission’s main objective is to protect consumers from being taken advantage of by people in the real estate business. … License law, rules, and regulations are administered and enforced by the commission through the licensing requirements of real estate agents and real estate appraisers.

What happens if the real estate recovery fund falls below the required minimum balance of $100000?

There are no excess funds at that dollar amount. What happens if the Real Estate Recovery Fund falls below the required minimum balance of $100,000? Nothing happens because the minimum required balance is not $100,000.