Delaware License LawIntermediateDelaware Exam
What is the purpose of Delaware's Real Estate Recovery Fund?
ATo pay commissions owed to licensees when sellers default
BTo compensate members of the public who suffer financial loss due to licensee misconductCorrect
CTo fund continuing education programs for Delaware licensees
DTo reimburse brokers for uncollectable commissions
Why To compensate members of the public who suffer financial loss due to licensee misconduct Is Correct
Answer B: To compensate members of the public who suffer financial loss due to licensee misconduct
Delaware's Real Estate Recovery Fund compensates members of the public who have suffered financial loss due to a licensed real estate agent's fraud, misrepresentation, or deceit and cannot collect from the licensee directly.
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