Alabama License Law
The Alabama Real Estate Recovery Fund compensates:
ABrokers who lose commissions due to client default
BConsumers who suffer losses due to licensee fraud or misrepresentation✓ Correct
CLicensees whose licenses are revoked
DSellers who receive lowball offers
Explanation
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.
Related Alabama Alabama License Law Questions
- To qualify for a broker's license in Alabama, a licensee must have:
- An Alabama real estate license that has been placed on inactive status allows the licensee to:
- In Alabama, what is the license renewal period for real estate licensees?
- A broker who allows an unlicensed person to negotiate real estate transactions in Alabama is:
- A listing broker is reviewing an offer that is clearly below market value. The broker should:
- An Alabama real estate broker must keep a copy of every listing and purchase contract for a minimum of:
- Under Alabama law, a licensee who has had their license revoked due to a Recovery Fund claim may have their license reinstated only after:
- The Alabama Real Estate Commission consists of how many members?
Practice More Alabama Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Alabama Quiz →