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Practice Of Real EstateLicense_lawEASY

Maria recently passed the Vermont real estate salesperson examination administered by PSI. Before she can legally engage in real estate brokerage activities in Vermont, she must ensure her license is held by which of the following?

Correct Answer

D) A Vermont-licensed real estate broker who is responsible for her activities

Under 26 V.S.A. Chapter 41, a Vermont real estate salesperson license must be held under and supervised by a Vermont-licensed real estate broker. The sponsoring broker is responsible for the salesperson's real estate activities, and the salesperson may not operate independently. Maria must affiliate her license with a licensed broker before conducting any brokerage activities.

Answer Options
A
A Vermont-licensed real estate attorney who supervises her transactions
B
A Vermont-licensed salesperson with at least five years of active experience
C
The Vermont Real Estate Commission directly, until she finds a sponsoring broker
D
A Vermont-licensed real estate broker who is responsible for her activities

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Related Topics & Key Terms

Key Terms:

salesperson_licensebroker_supervisionlicense_affiliation26_vsa_chapter_41

Related Concepts

Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.

A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.

A trust account, also called an escrow account, is a separate bank account maintained by a broker to hold funds belonging to others, such as earnest money deposits, security deposits, or other client funds.

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