Arkansas Real Estate Practice Exam

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What can an owner do if there is no broker to take the place of a terminated broker?

Close the firm
Request the Commission allows the firm to continue operating
Operate without a broker
Hire a temporary broker without notifying the Commission

The correct answer is: Request the Commission allows the firm to continue operating

An owner of a firm can request the Commission to allow the firm to continue operating if there is no broker to take the place of a terminated broker. This option is best because it ensures that the firm is still able to conduct business while finding a new broker. Option A is incorrect because the firm does not have to close down just because a broker has been terminated. Option C is incorrect because it is illegal to operate a real estate firm without a broker. Option D is incorrect because the Commission must be notified of any changes in broker representation. This could result in penalties or fines for the firm if not done properly.