Alabama License LawIntermediateAlabama Exam

The Alabama Real Estate Recovery Fund compensates:

ABrokers who lose commissions due to client default, under this approach

BConsumers who suffer losses due to licensee fraud or misrepresentationCorrect

CLicensees whose licenses are revoked

DSellers who receive lowball offers

Why Consumers who suffer losses due to licensee fraud or misrepresentation Is Correct

Answer B: Consumers who suffer losses due to licensee fraud or misrepresentation

The Alabama Real Estate Recovery Fund provides compensation to consumers (buyers, sellers, tenants) who have suffered financial losses due to fraud, misrepresentation, or dishonest dealing by a licensed real estate professional.

Key Alabama License Law Terms in This Question

Lien

A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.

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Key Terms to Know

Lien

A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.

Appraisal

A professional estimate of a property's market value prepared by a licensed or certified appraiser.

Math Concepts

Commission Calculation Profit & Loss

State-Specific Concepts

License Law

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