Arkansas Real Estate Practice Exam

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What presumption is made if a Real Estate Firm does not notify the commission of a terminated Broker or Executive Broker?

The broker left on good terms
There is a clerical error
The firm is closing
The firm is in violation of regulations

The correct answer is: The firm is in violation of regulations

If a Real Estate Firm fails to notify the commission of a terminated Broker or Executive Broker, it is assumed that the firm is in violation of regulations. This means that the firm did not follow the required protocol of informing the commission about the termination of the broker, which could result in penalties and disciplinary actions. Option A is incorrect because the presumption is not about the broker's departure terms, but about the firm's failure to notify the commission. Option B is incorrect because a clerical error would not have any relation to the commission being notified. Option C is incorrect because the presumption is not about the firm closing, but about the violation of regulations.