Current through Register Vol. 49, No. 9, September, 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.
Regulation 104. Salesman - Application and
examination.
(a) Each applicant for an
original salesman's license must apply on a form furnished by the Commission
accompanied by the official certificate required by Ark. Code Ann. Sec.
17-35-303(d).
The certificate shall state that the applicant has successfully completed a
course or courses of instruction, including a course of not less than 30 hours
in the basic principles of real estate, by actual classroom attendance for at
least 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 was in effect at the time the
applicant passed the other part of the examination.
The applicant must also pass a written examination. Minimum
grades of 70 on the uniform part of the examination and 70 on the Arkansas law
part are required. A person who is licensed as a salesman or as a broker may
not apply and may not be examined. A person who has passed the Arkansas real
estate salesman's examination but who is not licensed as a salesman 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 salesman's
examination in 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 salesman'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 salesman 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 salesman in that
state, he will be required to take only the Arkansas law part, provided the
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 an applicant, however, must furnish such documentation
of entitlement thereto as the Commission may
require.