A licensee is criminally charged for stealing prescription drugs on July 2. He tells his designated broker about the charges on July 5. Who must notify the Real Estate Program Manager?
A. The licensee must provide notice within 20 days of conviction
B. The licensee must provide notice by July 22
C. The licensee must provide notice by July 25
D. the designated broker must provide notice by July 25
Answer: B. the licensee must provide notice by July 22
A licensee must notify the Real Estate Program Manager within 20 days of learning of any criminal complaint or indictment in which the licensee is named as a defendant. (A conviction has yet to occur in this situation so answer A doesn't apply. if the licensee is eventually convicted, he will also have to notify the DOL of conviction within 20 days.)
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Agents have an incentive to make transactions happen and are motivated to apply pressure to
whomever is motivated to reach a deal. Therefore a key challenge of working with agents is that: A) the agent has limited authority to offer price reductions B) an agent's incentives are not perfectly aligned with the principal's C) the emotional detachment and tactical flexibility provided by an agent may make it hard for the counterparty to infer the principal's interests D) the agent doesn't act as a face -saving buffer for the principal