A licensed real estate broker must retain real estate brokerage records for a MINIMUM of

Question: A licensed real estate broker must retain real estate brokerage records for a MINIMUM of how many years? One Three Six seven A department of commerce investigation and subsequent hearing found that a licensee deposited a buyers check in the licensee general operating account. As this was the A licensed real estate broker must retain real estate brokerage records for a MINIMUM of how many years?
One

Three

Six

seven

A department of commerce investigation and subsequent hearing found that a licensee deposited a buyers check in the licensee general operating account. As this was the licensee’s first offense the Department of Commerce can impose a MAXIMUM fine, per violation, of:
$1,000

$5,000

$10,000

$25,000

Which of the following statements about the mortgage registry tax for mortgaged properties in Minnesota is CORRECT?
It is applied to the principal only

It is applied to the full scale price of the mortgaged property

It is applied to the principal and capitalized interest

It is only applicable for properties with a qualifying mortgage.

A licensee is selling property which the licensee and the licensee’s sibling own together. The licensee MUST disclose the:
Length of time they have owned the property

Licensee’s family relationship to the sister

Original purchase price of the property

Appraised value

For how many years after the warranty date MUST a vendor warrant that a completed dwelling be free from major construction defects?
Two

Five

Ten

Fifteen

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