Arkansas Real Estate Practice Exam

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What are the consequences for a Real Estate Firm not closing and not notifying the Commission about terminated Brokers?

  1. A warning letter

  2. Mandatory retraining

  3. Presumed violation and subject to sanctions

  4. A temporary pause on all operations

The correct answer is: Presumed violation and subject to sanctions

When a Broker is terminated from a Real Estate Firm, it is the responsibility of the Firm to notify the Commission. Failure to do so can result in presumed violation and potential sanctions. A warning letter or mandatory retraining may be given as consequences, but these would not be the primary consequences for a Real Estate Firm not following proper protocol. A temporary pause on all operations may be necessary if a violation is found to have occurred, but it is not a direct consequence. Instead, it would be a necessary step in addressing any violations found. Therefore, the best answer is C.

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