Question

Travis, a licensed salesperson, filed a complaint against his broker alleging lack of supervision. He was awarded a judgment of $10,000, but the broker won't pay. For what amount may Travis apply to the real estate recovery fund?

a) $0
b) $10,000
c) $15,000
d) $25,000

Answer 1

Travis can apply to the real estate recovery fund for the full judgment amount of $10,000, assuming that this amount is within the state's cap for such funds.

Step-by-step explanation:

Travis, as a licensed salesperson, is entitled to apply for relief from the real estate recovery fund when he has obtained a judgment against his broker for lack of supervision and the broker has failed to pay. The amount that Travis can apply for is typically capped and governed by state law; however, since the student did not specify a jurisdiction within the question, we will assume a common cap for such funds.

For the purpose of this question, without state-specific rules, one could assume Travis can apply for the full amount awarded to him by the judgment. Therefore, the potential answer would be $10,000, which corresponds to the judgment he received, assuming the recovery fund covers judgments of that amount. Remember, Travis should verify the specific cap of the recovery fund in his jurisdiction.