Arkansas License Law
Arkansas has a Real Estate Recovery Fund. What is its primary purpose?
ATo fund AREC operations and staff salaries
BTo compensate consumers who suffer financial loss due to a licensee's fraudulent or dishonest conduct✓ Correct
CTo reimburse brokers for uncollected commissions
DTo provide professional development grants to licensees
Explanation
The Real Estate Recovery Fund compensates members of the public who suffer actual financial losses caused by fraudulent, misrepresentative, or dishonest acts of a licensed Arkansas real estate agent.
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