Arkansas Administrative Code › Agency 076 - Real Estate Commission › Rule 076.00.91-005 - 101 - Broker-Application and Examination; 104 - Salesman-Application and Examination

Current through Register Vol. 49, No. 6, June, 2024
Regulation
		  101. Broker-Application and examination.
(a) Each applicant for an original broker's
		  license must apply on a form furnished by the Arkansas Real Estate Commission
		  accompanied by the official certificate required by Ark. Code Ann. Sec.
		  17-35-303.
		  The certificate shall state that the applicant has successfully completed
		  within 36 months immediately preceding the date of the application a course or
		  courses of instruction in real estate by actual classroom attendance for not
		  less than 60 hours. This requirement shall apply to all applicants who are
		  examined after April 1, 1992, except those applicants who are re-taking only
		  one part of the examination pursuant to paragraph (b) of this regulation, which
		  applicants shall remain subject to the requirement which wag in effect at the
		  time the applicant passed the other part of the examination.
The applicant must also pass a written examination to show
			 competency to act as a real estate broker in such a way as to safeguard the
			 interests of the public. Minimum grades of 70 on the uniform portion of the
			 examination and 75 on the Arkansas law part are required. A person who is
			 licensed as a broker may not apply and may not be examined. A person who has
			 passed the Arkansas real estate broker's examination "but who is not licensed
			 as a broker may apply. However, in addition to meeting other requirements, such
			 a person will request in writing the reason for applying. Such a person may be
			 examined only after being advised in writing by a representative of the
			 Commission that permission is granted for him to be examined.
(b) If the applicant has taken the broker's
		  examination hi Arkansas and has passed either the Arkansas law part or the
		  uniform part but has failed the other, the applicant need not again take the
		  part passed. Such an applicant, however, shall be required to make new
		  application as an original applicant and must pass the part failed within six
		  months following the month in which the applicant first failed that part, but
		  passed, the other part, and must furnish such documentation of entitlement
		  thereto as the Commission may require.
(c) If the applicant has passed a uniform or
		  multi-state part of an examination for a broker's license in another state in
		  which the examination is administered by a national testing service recognized
		  by the Arkansas Real Estate Commission; if that state requires a minimum
		  passing grade no lower than that required for the uniform part of the Arkansas
		  examination, and if the applicant at the time of taking the Arkansas
		  examination is a licensed broker in that state, then the applicant will be
		  required to take only the Arkansas law part. However, if the applicant at the
		  time of taking the Arkansas examination is not a licensed broker in that state,
		  he will be required to take only the Arkansas law part provided that applicant
		  passed the uniform or multi-state part of the examination in that state within
		  six months prior to the month in which the applicant passes the Arkansas law
		  part. Such applicant, however, must furnish such documentation of his
		  entitlement thereto as the Commission may require.