Arkansas Real Estate Practice Exam

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What is a licensee required to do with Broker Price Opinion reports?

Publish them in a local newspaper
Maintain them on file in accordance with chapter regulations
Submit them to city hall
Discard them after a year

The correct answer is: Maintain them on file in accordance with chapter regulations

A licensee is required to maintain Broker Price Opinion (BPO) reports on file in accordance with chapter regulations. Publishing them in a local newspaper (option A) is not required nor appropriate for BPO reports. Similarly, submitting them to city hall (option C) is not necessary and may not be allowed due to privacy and confidentiality concerns. Discarding them after a year (option D) is also incorrect as there may be legal, tax, or audit reasons to have them on file for a longer period of time.