Under Indiana law, which license category represents the entry-level real estate license that requires the licensee to work under the supervision of a managing broker?
Correct Answer
B) Broker
Under IC 25-34.1, Indiana eliminated the salesperson license category and established a two-tier system. The entry-level license is called a 'Broker,' and this licensee must work under the supervision of a managing broker. The broker license is the starting point for new licensees in Indiana.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
The legal obligation to reveal information that could affect a party's decision to enter into or the terms of a real estate transaction.
The extent of power and actions an agent is authorized to perform on behalf of the principal, as defined by the agency agreement.
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