Broker Sandra in West Virginia wants to know whether the WVREC's administrative rules on advertising have the same legal force as the West Virginia Real Estate License Act itself. Which of the following is the most accurate statement?
Correct Answer
D) Commission rules have the force of law and licensees are bound to comply with them just as with the statute
Administrative rules promulgated by the WVREC under its statutory authority, codified in W. Va. C.S.R. § 174-1-1 et seq., have the full force and effect of law. All licensees — salespersons, associate brokers, and brokers — are required to comply with these rules, and violations can result in the same disciplinary sanctions as violations of the License Act itself.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Price fixing is an illegal antitrust practice in which competing real estate brokerages agree to charge the same commission rates, fees, or other pricing for their services. It is a per se violation of the Sherman Antitrust Act.
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.
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?
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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?
- → A responsible broker in Wyoming asks about a first-time salesperson applicant prepares for Wyoming-specific licensing. Which answer follows Wyoming law?
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- → Which Wyoming rule applies when a licensee does not timely submit the complete renewal application, proof of CE, and renewal fees?
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