Arkansas Real Estate Practice Exam

How does the Commission handle overpayments of fees over $10.00?

1. Full refund

2. Deduct $10.00 for processing and refund the remainder

3. No refund

4. Refund only if over $25.00

The correct answer is: Deduct $10.00 for processing and refund the remainder

The Commission handles overpayments of fees over $10.00 by deducting $10.00 for processing and refunding the remainder. This is because the Commission understands that mistakes happen and wants to make sure that the client is not completely without a refund. Option A is incorrect because it would result in a complete refund, which is not necessary if the amount overpaid is only slightly over $10.00. Option C is incorrect because it suggests that there will be no refund at all, which is not fair to the client who may have accidentally overpaid. Option D is incorrect because it sets a higher threshold for refunds, which would be unfair to clients who overpaid by smaller amounts. Therefore, option B is the most reasonable and fair solution.