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block

If a person is acting as a real estate options dealer (s)he must:

Select the correct answer(s).  

(0/0)

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no special licensing is required

be licensed as a real estate broker/agent

be approved by the Securities and Exchange Commission

have a securities license endorsed by the Nebraska Real Estate Commission

none

Even though Sally does not have her real estate license, she helps a neighbor sell his home. He agrees to pay her a commission; but later refuses to do so. What is Sally's best available recourse?

Select the correct answer(s).  

(0/0)

---

sally can collect a commission even it not yet employed by the broker

Sally has no recourse because state law would not allow her to

if Sally was pursuing her license when the agreement was made; she can sue the seller for payment

Friendly oral agreements are binding thus allowing Sally to sue for payment

none

An on-site property manager is responsible for negotiating leases for Sunset Apartments. Because of his position, the manager:

Select the correct answer(s).  

(0/0)

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is exempt from needing a license

needs a salespersons license

needs a brokers license

is violating license law

none

A partnership, association, or corporation will be granted a real estate license only if:

Select the correct answer(s).  

(0/0)

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the brokerage has paid a fee to the guaranty fund

broker retains a current license

all legal papers and documents are filed with the secretary of state

every member and officer actively participated in the business and has a license

none

An attorney who does not hold a real estate license can legally be paid a fee for all EXCEPT:

Select the correct answer(s).  

(0/0)

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drawing up a purchase agreement

conducting a closing

acting as a personal representative

a real estate referral

none

A person must have a real estate license if that person is:

Select the correct answer(s).  

(0/0)

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selling her own house

a builder

buying an investment property for his own portfolio

engages in the real estate business on behalf of others for a fee

none

A Nebraska Real Estate salesperson may lawfully accept a commission from:

Select the correct answer(s).  

(0/0)

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either the buyer or the seller

any party involved n the transaction

his or her employing broker only

a licensed real estate broker only

none

A real estate license is required for selling all of the following EXCEPT:

Select the correct answer(s).  

(0/0)

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land for an orchard

mineral rights

new construction residential homes

commercial buildings

none

An unlicensed person who engages in real estate activities that require a license can be penalized in the following way

Select the correct answer(s).  

(0/0)

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Class II Misdemeanor

felony conviction

no penalty forthcoming

$100 fine and or six months imprisonment

none

A person must hold a real estate license to be paid to do all EXCEPT:

Select the correct answer(s).  

(0/0)

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auction real estate

input information into the Multiple Listing Service

deal in options

act as a referral agent

none

An unlicensed assistant helped to ensure a successful closing. He made several calls to prospective buyers encouraging them to accept seller's counteroffer. Because of the assistant's good work, the broker wants to pay him a percentage of the Commission. Under Nebraska law, the broker may :

Select the correct answer(s).  

(0/0)

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not pay a commission because the assistant acted contrary to license law

can not pay in cash but may compensate with a gift

compensate the assistant in the form of a commission percentage

as long as the assistant is an independent contractor; the broker can pay the commission

none

A manager for a real estate office has the following obligations: coordinate sales meetings, maintain office event calendar, supply forms for salespersons, run advertising copy, hire clerical personnel. This person:

Select the correct answer(s).  

(0/0)

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is required to have a salesperson's license

needs to be the designated broker

may be employed by the real estate company without first obtaining a real estate license

is violating Nebraska license law for performing such activities

none

Who is exempt from needing a license when charging a commission for real estate sales?

Select the correct answer(s).  

(0/0)

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Partnerships or corporations

auctioneers

attorneys as law

appraisers

none

Who needs a license?

Select the correct answer(s).  

(0/0)

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A licensed attorney

Someone who is compensated for selling commercial real estate

a "For Sale By Owner"

A resident manager working for the building's owner

none

Who needs a license?

Select the correct answer(s).  

(0/0)

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A company charging a fee for matching individuals wanting to do like-exchanges

Executor of a will selling the decendent's home

A resident manger who collects rent for the owner

not-for-profit real estate referral services