c1b law

  1. Complaints must state a prima facie case against a licensee. If the complaint does not state a prima facie case then the complainant shall have
    10 days to cure any defect
  2. KREC shall dismiss any complaint that
    does not constitute a prima facie case
  3. A licensee must answer a complaint within ____
    20 days; a copy of the answer is sent by certified mail to the KREC and the complainant
  4. Penalties that can be imposed by the KREC against a licensed agent include
    suspension, revocatioin, fine not to exceed 1000$, probation up to 12 months, completion of real estate courses, a formal reprimand, or informal reprimand
  5. IF your licensed is canceled
    you have one year to renew if you pay the fees and meet all other licensing requirements. You may not practice real estate brokerage while canceled, however you may be paid for transactions that occurred prior to cancellation
  6. An agent who fails to notify his client of a problem that causes the client to lose money has commited
    gross negligence
  7. Time periods for suspnsion of license are determined
    by KREC
  8. Revocation
    is for 5 years
  9. an agent who commits a deliberate act to deceive a client or customer has commited
    fraud
  10. An agent who wishes to show the exclusive listing of another firm
    should call the firm and make an appointment
  11. An agent can not accept offers on bbehalfof a client unless the agent has a
    Writen power of attorney
  12. if a client ask an agent to discriminate in the sale of property
    the agent should refuse the listing
  13. A listing agent who quotes a price lower than the listing price is violating
    the License law and fiduciary responsiblitiesto a client
  14. An agent who fails to reveal a property defect is
    negligent
  15. upon revocation or suspension of a principal broker's license
    the licenses of all associates under the broker are automatically rendered inactive.
  16. Penalties that can be imposed by the KREC include
    $1000 Fine, revocation of license, suspension of license, probation, attend school, formal reprimand, informal reprimand
  17. An agent who fail to notify a client of a problem that causes the client to lose money has committed
    gross negligence
  18. Time periods for suspension of license are determined
    by KREC
Author
Cshowalter
ID
333645
Card Set
c1b law
Description
c1b law
Updated