Arkansas Administrative Code › Agency 076 - Real Estate Commission › Rule 076.00.91-001 - Amendments to Rules and Regulations - 105, 109, 110, 112, 113, 114

Current through Register Vol. 49, No. 6, June, 2024
105. Examinations -
		  Locations, times, fees.
(a) All broker's and
		  salesman's examinations are held at various locations within the state once
		  each month during every month except December. 'The examinations are normally
		  held on the fourth Saturday of each month, unless that happens to be a holiday
		  weekend, in which case the examination will be scheduled for another date
		  during that month. Generally, all applications should be received in the
		  Commission office at least thirty days before the examination which the
		  applicant desires to sit for. However, regardless of the date on which the
		  application is received by the Commission, it shall be processed as
		  expeditiously as possible under the circumstances, and the applicant will be
		  scheduled to sit for the exam on the earliest date possible.
(b) Each application for either a salesman's
		  license or a broker's license shall be accompanied by a $50 application fee. In
		  addition, each application for a salesman's license and each application for a
		  broker's license shall be accompanied by an examination fee which shall equal
		  the actual cost of the examination as established by the testing service
		  engaged by the Commission to administer the examination. The examination fee
		  shall be made payable to the Commission unless the applicant is otherwise
		  notified by the Commission to pay the examination fee directly to the testing
		  service. The application fee and the examination fee shall be charged each time
		  an applicant applies to take an examination.- However, an applicant who has
		  taken the examination in Arkansas and is to be reexamined under the Walk-In
		  Testing Program prescribed by the Commission and who is being examined on only
		  the Arkansas law part or the uniform part of the examination pursuant to
		  Regulation 101 or Regulation 104 shall not be required to pay an additional
		  application fee when being reexamined, within six (6) months following the
		  month in which the applicant first failed either part. Neither the application
		  fee nor the examination fee shall be subject to refund.
(c) An applicant shall receive notice upon
		  passing the examination. Each successful broker applicant shall pay to the
		  Commission, within 90 days from the date of the successful completion of the
		  examination, a $60 license fee and a $25 recovery fund fee; each successful
		  salesman applicant shall pay to the Commission, within 90 days from the date of
		  successful completion of the examination, a $40 license fee and a $25 recovery
		  fund fee. However, the payment of the $25 recovery fund fee shall be waived for
		  any successful applicant who has previously paid such fee. If a successful
		  applicant shall fail to pay the prescribed fee(s) within 90 days following the
		  date of the examination, the examination results shall be null and void, and
		  the applicant shall be required to make new application and retake the
		  examination, as an original applicant.