Sandra holds an active North Dakota salesperson license under Broker Thompson. She decides to leave Broker Thompson's firm and associate with Broker Rivera. During the transition period after Sandra has notified Broker Thompson of her departure but before Broker Rivera has submitted her transfer application to NDREC, what is Sandra's license status and what activities may she legally perform?
Correct Answer
C) Sandra's license is inactive during the transition period, and she may not perform any real estate brokerage activities until the transfer is approved by NDREC
Under NDCC Chapter 43-23 and NDAC Title 70, a salesperson's license is tied to a specific sponsoring broker. When a salesperson terminates association with one broker, the license becomes inactive. The salesperson may not perform any brokerage activities until the new broker submits a proper transfer application and NDREC approves the transfer and reactivates the license. There is no automatic transfer mechanism.
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Related Topics & Key Terms
Key Terms:
Related Concepts
FREC has the authority to impose fines and other disciplinary actions on licensees who violate real estate laws and rules.
A group boycott is an illegal antitrust practice in which two or more competing real estate businesses agree to refuse to work with a specific person, company, or entity in order to harm that party's ability to compete.
In real estate, the distinction between an independent contractor and an employee determines tax treatment, liability, and the level of control a broker may exercise over the agent's daily activities. Most real estate agents operate as independent contractors.
More Practice Of Real Estate Questions
In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
In Wyoming real estate practice, a first-time salesperson applicant completes coursework. What should the licensee remember?
A Wyoming licensee is reviewing an out-of-state salesperson applicant prepares for testing. What is the best answer?
In Wyoming real estate practice, a salesperson applicant age is reviewed. What should the licensee remember?
A responsible broker in Wyoming asks about a nonresident applicant provides home-state evidence. Which answer follows Wyoming law?
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- → For the Wyoming salesperson state portion, a licensee asks how long Wyoming renewal periods are. Which statement is correct?
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