An Ohio broker is closing her brokerage. Under Division rules, what must the broker do regarding the trust account?
Correct Answer
B) Disburse all trust funds to the appropriate parties, provide an accounting, and close the trust account in compliance with Division requirements
When closing a brokerage, the broker must properly disburse all trust funds to the rightful parties, provide a full accounting of all transactions, and close the trust account in accordance with Division requirements. The broker must also notify the Division of the brokerage closure.
Why This Is the Correct Answer
Why the Other Options Are Wrong
Deep Analysis of This Oh Division Of Re Rules Disciplinary Process Question
Background Knowledge for Oh Division Of Re Rules Disciplinary Process
Real World Application in Oh Division Of Re Rules Disciplinary Process
Common Mistakes to Avoid on Oh Division Of Re Rules Disciplinary Process Questions
Related Topics & Key Terms
Key Terms:
More Oh Division Of Re Rules Disciplinary Process Questions
An Ohio salesperson places a 'For Sale' sign on a listed property. Under Ohio Division rules, the sign must include:
An Ohio salesperson wants to advertise a property she is selling as a FSBO (For Sale By Owner) since she owns the property. Under Ohio rules:
An Ohio salesperson creates a magnetic car sign advertising her real estate services. The sign includes her photo, name, and phone number but not the brokerage name. This sign:
An Ohio broker wants to advertise that his brokerage sold '$50 million in real estate last year.' Under Ohio advertising rules, this claim:
In Ohio, when a listing expires and the property is no longer listed with the brokerage, what must the agent do with any existing advertising?
- → An Ohio broker wants to advertise using the nickname 'Tom the Realtor' instead of his legal name. Under Division rules:
- → An Ohio salesperson places an ad in a local newspaper for a listed property. The minimum information that MUST appear in the ad under Ohio Division rules is:
- → An Ohio salesperson wants to include her professional designations (e.g., 'CRS, ABR') in her advertising. Under Division rules, this is:
- → Under Ohio Division rules, all real estate advertising by a salesperson must include:
- → In Ohio, an advertisement for a listed property must NOT contain:
- → An Ohio salesperson includes the phrase 'Licensed Ohio Real Estate Agent' in all of her advertising. Under Division rules, this phrase is:
- → An Ohio salesperson wants to host an open house for a listing. The open house signs and directional arrows she plans to use must include:
- → Under Ohio advertising rules, all of the following would constitute a violation EXCEPT:
- → An Ohio broker operates under the registered business name 'Premier Real Estate Group.' One of his salespersons advertises using the name 'Premium Realty Associates.' The Division would MOST likely consider this:
- → An Ohio brokerage acquires another brokerage and all of its listings. The acquiring brokerage has a different name. Regarding the advertising of the acquired listings, the new brokerage must:
People Also Study
Buyer Representation Agreement
8% of exam
Property Ownership
10% of exam
Land Use Controls and Regulations
8% of exam
Valuation and Market Analysis
10% of exam