Under Arizona law, a real estate licensee who pays an unlicensed person a referral fee for directing business to the licensee is:
Why Violating Arizona law, which prohibits licensees from paying referral fees or compensation to unlicensed persons for real estate activities requiring a license Is Correct
Answer B: Violating Arizona law, which prohibits licensees from paying referral fees or compensation to unlicensed persons for real estate activities requiring a license
Key Arizona License Law Terms in This Question
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
SteeringAn illegal practice where a real estate agent directs buyers toward or away from certain neighborhoods based on the buyer's race, religion, national origin, or other protected characteristics.
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Key Terms to Know
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
SteeringAn illegal practice where a real estate agent directs buyers toward or away from certain neighborhoods based on the buyer's race, religion, national origin, or other protected characteristics.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
Short SaleA sale of real property where the sale proceeds are less than the outstanding mortgage balance, requiring lender approval.
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