Question

All of the following statements are correct regarding commission rules, EXCEPT:

A. should a broker or provisional broker change their name, address or broker affiliation, they must notify the NCREC within 30 days
B. a provisional broker may not be the Broker-in-Charge regardless of the years of experience they may have as a broker in another state
C. a broker must include the firm or BIC's name in all advertising
D. should a broker or provisional broker be convicted of a DWI (driving while impaired) they must report this within 60 days of the conviction

Answer 1

The incorrect statement regarding commission rules is D, as typically real estate commissions require brokers to report criminal convictions within a significantly shorter timeframe than 60 days, such as within 10 days.

Step-by-step explanation:

All of the following statements are correct regarding commission rules, EXCEPT: D. should a broker or provisional broker be convicted of a DWI (driving while impaired) they must report this within 60 days of the conviction. Real estate commission rules vary by state, but typically have a much stricter timeline for reporting convictions of crimes.

For example, the North Carolina Real Estate Commission (NCREC) requires that brokers report any criminal convictions within 10 days. Other statements regarding the need to notify NCREC of changes in personal information or restrictions on provisional brokers being Brokers-in-Charge are accurate. Additionally, a broker's requirement to include the firm or BIC's name in all advertising upholds the standard of transparency and professionalism within the industry.