Montana License Law
A Montana broker is required to supervise salespersons under their license. Failure to adequately supervise may result in:
ANo consequences to the broker, only the salesperson
BDisciplinary action against the broker's license as well as the salesperson's✓ Correct
COnly a fine, not license action
DAutomatic license revocation for both
Explanation
A Montana broker has a legal duty to supervise their salespersons. Failure to adequately supervise can result in disciplinary action against both the broker's and the salesperson's licenses.
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Key Terms to Know
Fiduciary Duty
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
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.
Math Concepts
State-Specific Concepts
License Law
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