For the Indiana broker state portion, the status of a license is analyzed. Which statement is correct?
Correct Answer
A) A license means a broker license that is not expired, suspended, or revoked
IC 25-34.1-1-2 defines a license as a broker license issued under the article and not expired, suspended, or revoked. Source basis: Indiana PLA Real Estate Licensing Information and official Statutes & Rules page: IC 25-34.1 licensing framework; 876 IAC 7 postlicensing/continuing education excerpts; broker transfer, renewal, inactive/referral, reinstatement, and branch office instructions; checked 2026-04-30.
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Related Topics & Key Terms
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Key Terms:
Related Concepts
Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.
A trust account, also called an escrow account, is a separate bank account maintained by a broker to hold funds belonging to others, such as earnest money deposits, security deposits, or other client funds.
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