Delaware Real Estate Salesperson Exam: Practice Questions and Answers, Exams of Sales Management

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Delaware Salesperson Exam with answers

Of the nine members on the commission, how many are real estate professionals? Five Nine Seven Three - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ Five Who appoints members to the Delaware Real Estate Commission? A lottery system The Delaware Association of REALTORS® The governor The public - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ The governor The purpose of the Delaware Real Estate Commission is to protect the public by ______. Developing standards for the real estate industry Offering free legal advice for real estate matters Regulating real estate sales in the state Testing licensees annually - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ Developing standards for the real estate industry One of the fees charged to licensees by the Delaware Real Estate Commission is for _____.

Credit check License application Licensure tax Membership - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ License application Which of the following is a power of the Delaware Real Estate Commission? Assigning a licensee to a specific broker affiliate for mentoring Conducting audits Issuing an automatic fine to a licensee without holding a hearing Teaming up with law enforcement agencies to crack down on license law violations - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ Conducting audits Which of these things is the Delaware Real Estate Commission empowered to do to ensure that licensees are following license laws appropriately? Assign new licensee Chad to a brokerage with an excellent reputation for supporting licensees rather than the firm to which he asked to be associated. Conduct an audit of the escrow accounts at ABC Brokerage during normal business hours.

Refer the licensee to the state district attorney for prosecution. - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ Impose any necessary sanctions or other penalties against the licensee. Which of these is NOT a power of the Delaware Real Estate Commission? Create standard fee structures for real estate activities. Investigate complaints against real estate licensees or unlicensed individuals who are allegedly practicing real estate. Issue and renew real estate licenses to those who have completed licensing and continuing education requirements. Regulate the professional behavior of real estate licensees. - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ Create standard fee structures for real estate activities. How many years must commission members have resided in Delaware prior to their appointment? Five years Nine years Seven years Two years - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ Five years Delaware Real Estate Commission members serve a _____-year term. Five

Four Three Two - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ Three How many members are appointed to the Delaware Real Estate Commission? Eight Four Nine Six - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ Nine When a consumer or another licensee files a complaint against a licensee, to which entity does the commission refer the complaint for an investigation? A private investigator A quorum of the Delaware Real Estate Commission The Division of Professional Regulation The state district attorney's office - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ The Division of Professional Regulation Sherry is a new licensee, but when she helps her first client through the purchase of a home, she does so with professional competence. What entity is responsible for ensuring that Delaware licensees such as Sherry are able to safely help the public with real estate transactions? The Delaware Association of REALTORS® The Delaware Public Health and Safety Commission The Delaware Real Estate Commission

No later than 90 days before the biennial license renewal date - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ No later than 60 days before the biennial license renewal date If you choose to affiliate with more than one broker, which of these is a step you must take? Give notice to the Delaware Association of REALTORS®. Obtain an additional license for the new broker's firm. Obtain approval from the governor's office. Receive dispensation from the commission. - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ Obtain an additional license for the new broker's firm. Which of these is a requirement of ALL levels of real estate licensure in Delaware? Be competent to transact the business for which the individual is licensed, and do so in a manner that safeguards the public's interests. Be demonstrably professional, honest, and able to assist others in a patient and knowledgeable manner. Demonstrate experience with real estate transactions in Delaware over the previous three years. Prove experience with supervising others and holding responsibility for handling funds for others. - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ Be competent to transact the business for which the individual is licensed, and do so in a manner that safeguards the public's interests.

Delaware licensee Sandra has been selected for a CE compliance audit. How much time does she have to submit CE verification? 20 days 30 days 60 days 90 days - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ 20 days Which of these is NOT a part of the license renewal process for real estate licensees in Delaware? Complete CE requirements prior to the renewal date Pay the renewal fee Submit certification of CE Submit the renewal application - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ Submit certification of CE When must a real estate license be renewed in Delaware? Annually before April 30 Annually on the date it was issued Biennially before April 30 Biennially on the date it was issued - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ Biennially before April 30 Associate broker applicants must be at least _____ of age to be eligible for a Delaware real estate license. 18

How many attempts does a Delaware applicant have to pass the salesperson exam? Four One Three Two - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ Three How should a Delaware real estate licensee request a name change? Ask the broker affiliate to submit a request for a new license to the Delaware Real Estate Commission. Submit a service request. Submit the change on the renewal application. Submit the change with the renewal application during the renewal period, or submit a Name Change Request outside the renewal period. - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ Submit the change with the renewal application during the renewal period, or submit a Name Change Request outside the renewal period. Mike missed the renewal date for his Delaware license. Which of these statements is true? He can continue practicing under his broker's name for a period of 30 days, at which point the commission will terminate his license if he hasn't completed the renewal requirements.

He can still renew if he does so within 60 days of expiration. He must meet his CE requirements and pay a late fee. His license is placed on probationary status for 60 days, and he can continue practicing until he submits his renewal. His license is terminated and can't be reinstated. He must repeat the pre- licensing process to become licensed again. - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ He can still renew if he does so within 60 days of expiration. He must meet his CE requirements and pay a late fee. Michael doesn't have a real estate license, but he helps his friend, Nancy, sell her Delaware home. What can Michael legally receive as compensation? Michael doesn't hold a real estate license in Delaware. Not only can he not help Nancy sell her home, he also can't receive compensation. Michael doesn't need a Delaware real estate license to help Nancy, so she can compensate him whatever amount they agree upon. Since Michael doesn't hold a real estate license in Delaware, Nancy can only compensate him 1% of the sales price. Since Michael doesn't hold a real estate license in Delaware, Nancy can only compensate him with gift cards. - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ Michael doesn't hold a real estate license in Delaware. Not only can he not help Nancy sell her home, he also can't receive compensation.

When she starts her brokerage business, it must be licensed as an organization. - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ She'll need to prove she has been actively licensed for at least five years and actively practicing for three years as a salesperson or broker. Which of these is NOT a valid real estate license type in Delaware? Associate broker Broker Organizational broker Salesperson - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ Organizational broker Amanda helps her neighbor sell his home in Wilmington by assisting with negotiations. She receives no compensation for her assistance. Based on this one transaction, Amanda ______. Doesn't need a real estate license Must have a broker's license Must have at least a Delaware salesperson's license Must have at least an associate broker's license - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ Must have at least a Delaware salesperson's license Which of the following may a person who doesn't hold a Delaware real estate license do? Have business cards printed that say he is a REALTOR® Negotiate the sale of a friend's home but not accept compensation Place a sign on her vehicle advertising her real estate services

Sell property as an executor of a will - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ Sell property as an executor of a will How many days do you have to notify the Delaware Real Estate Commission after you change your address? 14 days 30 days 60 days 7 days - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ 30 days Which of these is a complete list of the types of real estate licenses in Delaware? Broker, associate broker, salesperson Broker firm, broker, salesperson Broker, salesperson Managing broker, independent broker, salesperson - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ Broker, associate broker, salesperson George has passed his pre-licensing course, and is ready to complete the requirements for a salesperson license. Which of these is NOT a requirement to obtain his Delaware license? Find a broker who will accept him as an associated licensee. Obtain approval from the Delaware Association of REALTORS®.

No later than 90 days before the biennial license renewal date - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ No later than 60 days before the biennial license renewal date How should a Delaware real estate licensee request a name change? Ask the broker affiliate to submit a request for a new license to the Delaware Real Estate Commission. Submit a service request. Submit the change on the renewal application. Submit the change with the renewal application during the renewal period, or submit a Name Change Request outside the renewal period. - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ Submit the change with the renewal application during the renewal period, or submit a Name Change Request outside the renewal period. Regina has been licensed to sell real estate in Delaware for 10 years. She's never upgraded her license. What level of licensure does she hold? Associate broker Associate salesperson Broker Salesperson - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ Salesperson When the Delaware Real Estate Commission finds that individuals have performed unlicensed real estate activities for the second time, what's the estimated fine?

$500-$5,000 - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ $1,000-$10,

What is one of the steps you need to take if you choose to affiliate with more than one Delaware broker? Give notice to the Delaware Association of REALTORS®. Give written notice to each broker with whom you're currently affiliated that you plan to affiliate with an additional broker. Obtain approval from the governor's office. Receive approval from your current clients. - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ Give written notice to each broker with whom you're currently affiliated that you plan to affiliate with an additional broker. Affiliating with a broker is an important decision. What is something you should consider when making the decision? Firm location The broker's affiliation with your church The perks the broker offers

The commission will terminate her license immediately. - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ The commission will terminate her license immediately. After their first renewal, how many hours of CE courses do Delaware real estate licensees need to take to renew their license? 12 hours 18 hours 21 hours 24 hours - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ 21 hours The Delaware Real Estate Commission ordered payment from the Guaranty Fund to the Marsdens, who won an award from the court after their real estate broker Jack was found guilty of fraud. What is most likely to happen to Jack's license in this situation? As long as the award is paid in full, Jack's license is reinstated, and he can continue to practice real estate. It may be suspended or revoked until Jack reimburses the fund in full, plus interest. It's placed on inactive status, and Jack will only be allowed to practice real estate according to limits the commission places on him. It will be placed under the jurisdiction of the court, which has the authority to impose harsher sanctions than the real estate commission. - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ It may be suspended or revoked until Jack reimburses the fund in full, plus interest.

Delaware broker Ralph was found guilty of fraud, and the court awarded his former clients, the Dimsdales, $50,000. Ralph wasn't able to pay the full amount. If the Dimsdales want payment from the Guaranty Fund, what do they need to do? Ask Ralph to request assistance from the Guaranty Fund. File a claim with the commission within 60 days of the final judgment. File a request with the Division of Professional Regulation within one year. Make a request to the attorney general to be paid from the Guaranty Fund.

• ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ File a claim with the commission within 60 days of the final judgment. The Delaware Real Estate Commission has the authority to impose which of these sanctions on a licensee who's violated license law? A fine of not more than $5,000 for each violation A fine of up to $10, House arrest Jail time - ** 🔰 VERIFIED ANSWERS 🔰 ✔✔ A fine of not more than $5,000 for each violation Delaware licensee Gina is under investigation for a potential violation of license law. Which of these statements is NOT true? A commission member can serve as a confidential advisor to the investigator. After the hearing, Gina's allowed to submit an appeal if she disagrees with the commission's decision.