Indiana License Law
Under Indiana license law, what is the purpose of the Real Estate Recovery Fund?
ATo fund IREC's operating expenses
BTo compensate consumers who suffer financial losses due to fraud or dishonest conduct by a licensed real estate professional✓ Correct
CTo provide low-interest loans to first-time homebuyers
DTo reimburse brokers whose clients default on commission payments
Explanation
Indiana's Real Estate Recovery Fund (or similar consumer protection fund) compensates consumers who suffer actual monetary losses from fraud, misrepresentation, or dishonest conduct by Indiana real estate licensees, subject to statutory limits.
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