Alabama License Law
The Alabama Real Estate Recovery Fund provides compensation to members of the public who have suffered losses due to:
AMarket value declines
BThe fraudulent or dishonest acts of a licensed Alabama real estate agent✓ Correct
CNatural disasters affecting real property
DTitle defects discovered after purchase
Explanation
The Alabama Real Estate Recovery Fund compensates consumers who have suffered financial losses caused by the fraudulent or dishonest acts of a licensed Alabama real estate licensee.
Related Alabama Alabama License Law Questions
- An Alabama broker who receives a complaint from a consumer must respond to AREC's investigation:
- Which of the following is NOT a ground for license revocation by AREC in Alabama?
- The Alabama Real Estate Commission can suspend or revoke a license for all of the following EXCEPT:
- When an Alabama licensee receives an offer on a listed property, the licensee is obligated to:
- Under AREC rules, within how many days must a salesperson notify AREC after terminating association with a qualifying broker?
- Alabama real estate licenses expire:
- An Alabama licensee who moves to a new broker must:
- An Alabama salesperson licensee who completes the required 30 hours of post-license education must do so within how long of obtaining their initial license?
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