Vermont License Law
A Vermont broker who employs salespersons is legally responsible for:
AOnly their own personal real estate transactions
BThe licensed activities of their salespersons performed within the scope of employment✓ Correct
CPaying all taxes on behalf of their salespersons
DThe personal financial debts of their salespersons
Explanation
Under Vermont law, a qualifying broker is responsible and accountable for the licensed real estate activities of the salespersons working under their supervision. This includes ensuring compliance with license law and proper handling of client funds.
People Also Study
Related Vermont Questions
- A Vermont broker who commingles client trust funds with their own operating account is:Escrow & Title
- Under Vermont license law, a salesperson must keep their license with a qualifying broker. If a salesperson's broker's license is revoked, the salesperson must:Vermont License Law
- A Vermont agent working as a buyer's agent who learns of a new listing before it hits the MLS may share this information with their buyer client because:Agency
- To qualify for a Vermont real estate broker license, an applicant must have at least how many years of experience as a licensed salesperson?Vermont License Law
- In Vermont, which of the following activities requires a real estate license?Vermont License Law
- Which of the following is a fiduciary duty owed by a Vermont agent to their client?Agency
- A person who has had their Vermont real estate license revoked may apply for reinstatement after:Vermont License Law
- A Vermont buyer's agent secures a property for their buyer client. After closing, the agent receives a gift from the seller as a thank-you. The agent should:Agency
Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Promissory NoteA written promise to repay a loan under specified terms — the borrower's personal financial obligation in a real estate transaction.
ProrationThe division of ongoing property expenses (taxes, HOA dues, rents) between buyer and seller at closing based on their respective days of ownership.
State-Specific Concepts
License Law
Practice More Vermont Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Vermont Quiz →