Arkansas Real Estate Practice Exam

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What is the consequence of a late renewal application?

Treated as application to renew an expired license
A penalty fee is charged
Immediate license suspension
No consequences

The correct answer is: Treated as application to renew an expired license

A late renewal application can cause problems since the application will be considered as renewing an expired license, which will need to go through an additional review process. This could lead to longer wait times and additional fees, making it more cumbersome and expensive to renew the license. Option B is incorrect because while there may be a penalty fee, renewing an expired license as opposed to a late renewal still has consequences. Option C is also incorrect because while immediate license suspension is a potential consequence of not renewing a license, it does not directly answer the question about a late renewal application. Option D is incorrect because as mentioned earlier, renewing an expired license still has consequences.