Broker James is subject to a formal IREC disciplinary hearing after multiple complaints of misrepresentation. At the hearing, James is found to have violated Iowa Code Chapter 543B. Which of the following disciplinary sanctions is the IREC authorized to impose?
Correct Answer
B) Revocation of James's real estate license
Under Iowa Code § 543B.29 and § 543B.33, the IREC is authorized to impose administrative sanctions including license revocation, suspension, probation, civil penalties, and required remedial education. License revocation is a core disciplinary tool available to the commission for serious violations such as misrepresentation.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Broker supervision is the legal obligation of a designated or managing broker to oversee and be accountable for the real estate activities of all salespersons and associate brokers operating under their license.
Commingling is the illegal act of mixing client funds with a broker's personal or business operating funds, while conversion is the unauthorized use of client funds for the broker's own benefit. Both are serious violations that can result in license revocation.
Commingling is the illegal act of mixing client trust funds with a broker's personal or business operating funds; conversion is the misappropriation of those funds.
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