Minnesota License Law
What is the Minnesota Real Estate Recovery Fund used for?
AFunding Department of Commerce operations
BCompensating consumers who suffer losses due to licensee fraud or misrepresentation✓ Correct
CProviding loans to new licensees
DPaying for continuing education courses
Explanation
The Minnesota Real Estate Recovery Fund compensates consumers who suffer financial losses caused by fraudulent, misleading, or dishonest conduct of a licensed real estate agent when the licensee is unable to pay. Claims are capped per transaction.
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