The Arkansas Recovery Fund is supported by:
Question & Answer
Review the question and all answer choices
Chamber of Commerce
The Chamber of Commerce is a business organization that promotes local commerce, but it does not fund state regulatory programs like the Recovery Fund. This option confuses private business entities with government functions.
Congressional office
Congressional offices deal with federal matters, not state-specific real estate regulatory programs. The Recovery Fund is a state-level mechanism funded by state regulatory fees, not federal sources.
Two-time fee on renewal
Arkansas does not charge a two-time fee on renewals for the Recovery Fund. This option incorrectly suggests a recurring fee structure rather than the actual one-time application fee.
One-time fee on new applications
Why is this correct?
Arkansas law requires a $25 one-time fee from new applicants to fund the Recovery Fund. This fee is collected only when an individual first applies for a license, not during renewals or other transactions.
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