Real Estate U Chapter 1 Questions And Answers 100% Verified A+ Guaranteed

Change of Association {Ans: The process by which a salesperson's license changes sponsorship.}Misdemeanor {Ans: A crime punishable by up to a year in prison and/or a $1,000 fine}Multiple Listing Service (MLS) {Ans: A service provided by a group of real estate brokers. They band together to create a Multiple Listing Service that allows each of them to list each other's houses. Under this arrangement, the listing broker and the selling broker split the commission for each sale.}Termination {Ans: The discontinuance of an agent's relationship with his/her sponsoring broker.}Pocket Card {Ans: A card issued by the Department of State to each licensee which contains the photo, name and business address of the licensee, and, in the case of a real estate salesperson, the name and business address of the broker with whom he or she is associated and shall certify that the person whose name appears thereon is a licensed real estate broker or salesperson}Violation {Ans: Act, deed or conditions contrary to law or permissible use of real property.}