Arkansas Real Estate Practice Exam

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What happens when a Broker is deceased, unavailable, unwilling, or unable to act?

The license gets suspended
A family member takes over
The Commission may allow the firm to operate under direction of an approved person
The firm must immediately close

The correct answer is: The Commission may allow the firm to operate under direction of an approved person

When a Broker is deceased, unavailable, unwilling, or unable to act, the Commission may allow the firm to continue operating under direction of an approved person. This means that the firm can still conduct business, but someone else who has been approved by the Commission will take over the role of the Broker. This option allows for the smooth continuation of operations and ensures that clients are not left without a point of contact. Options A, B, and D are incorrect because they do not address the situation of the Broker being unable to act. A suspended license, family member taking over, and immediate closure are all extreme outcomes that do not consider the possibility of an approved substitute stepping in.