You can expect to see twelve questions on the end-of-course exam and twelve questions on the state exam from this unit. This is one of the most important units in the course, making up 12% of the exam questions.
After successfully completing this unit, you will be able to
|blind advertisement||limited liability company|
|commingle||limited liability partnership|
|conflicting demands||limited partnership|
|earnest money||personal assistant|
|escrow account||professional association (PA)|
|escrow disbursement order||point of contact information|
|failure to account and deliver||sole proprietorship|
|general partnership||team advertising|
|good-faith doubt||trade name|
This unit describes the legal requirements for brokers who operate a brokerage firm. It helps sales associates to understand their duties concerning the operations of a brokerage firm including office signs, branch offices, advertising, team advertising, earnest money deposits, and rental property lists. The unit also describes the different entities available to brokers for operating their businesses.