Under ORC Chapter 4735, which of the following correctly describes the required content of Ohio's 120-hour salesperson pre-license education?
Correct Answer
A) Real estate principles, practice, Ohio law, and other Commission-approved subjects totaling 120 hours
Two-thirds of the original $280,000 loan is approximately $186,667. Under MCL 600.3240, when the unpaid balance at the sheriff's sale exceeds two-thirds of the original indebtedness, the redemption period is the shorter 6 months (the 12-month period applies when the balance is two-thirds or less). Because $196,000 exceeds $186,667, the 6-month redemption period applies.
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Related Topics & Key Terms
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Related Concepts
Brokers in Florida have strict responsibilities for managing escrow accounts, including monthly reconciliation and proper handling of trust funds.
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.
More Oh License Law Orc 4735 Questions
Under ORC Chapter 4735, what is the minimum period an Ohio broker must retain trust account records after a transaction is completed or terminated?
Under ORC Chapter 4735, what happens to an Ohio real estate license if the licensee does not renew it by the expiration date?
Under ORC §4735.141, how are Ohio's 30 continuing education hours structured for active salespersons and brokers?
Under ORC Chapter 4735, which entity approves continuing education providers and courses for Ohio real estate licensees?
Under ORC Chapter 4735, which of the following best describes the required content of post-license education for newly licensed Ohio salespersons during their initial licensing period?
- → Under ORC Chapter 4735, continuing education for Ohio real estate licensees must be completed how often?
- → Under ORC §4735.14, what is the continuing education obligation for an Ohio salesperson who reactivates a license that has been on inactive status?
- → Under ORC Chapter 4735, which entity has the authority to establish renewal fees for Ohio real estate licenses, and how may those fees be changed?
- → Under ORC §4735.141, which outcome does Ohio's continuing education requirement for real estate licensees primarily serve?
- → Under ORC Chapter 4735, which of the following correctly describes a requirement that applies to continuing education courses completed by Ohio real estate salespersons?
- → Under ORC Chapter 4735, Ohio real estate licenses are renewed on what cycle?
- → Under ORC Chapter 4735, how many hours of continuing education must an Ohio salesperson complete during each three-year license period?
- → Under ORC Chapter 4735, which accommodation is available to an Ohio licensee who is on active duty with the U.S. military regarding license renewal and continuing education?
- → Under ORC Chapter 4735, what is the total number of hours of pre-license education and post-license education that a new Ohio salesperson must complete during the first licensing period?
- → Under ORC Chapter 4735, what is the primary purpose of the Ohio Division of Real Estate auditing a licensee's continuing education records?