Ohio Real Estate Exam Questions & Answers

May a consumer who has been harmed by a licensee acting under her license as a real estate

salesperson or broker immediately file a claim for payment from the Real Estate Recovery Fund?

- CORRECT ANSWER: No, the consumer must file a lawsuit, get a final judgment, and attempt

to collect

A listing agreement in which the agent may possibly be in competition with the client to see who

can sell the house first is an exclusive

- CORRECT ANSWER: agency

According to the Statute of Frauds, what does NOT have to be in writing?

- CORRECT ANSWER: listing agreement

If a third party maintains a website for a licensee, places information on the website on behalf of

the licensee, and that information becomes outdated or expired, how soon must it be updated or

removed?

- CORRECT ANSWER: Outdated and expired information must be updated or removed within

two weeks

After issuing a bad check, the Division requires the licensee to send certified funds for all

subsequent payments for a period of

- CORRECT ANSWER: 5 years

How much will a licensee be fined for paying fees to the state with a bad check?

- CORRECT ANSWER: $100

Once a salesperson is affiliated with a broker, what are the steps to be taken to associate with

another broker?

- CORRECT ANSWER: the salesperson must submit an application to the Superintendent

What statement regarding condominium ownership is correct?

- CORRECT ANSWER: A unit owner may devise the property