Module 6

Module 6 is an introduction to license law, penalties, and procedures. Items covered include elements of a valid complaint, investigating a complaint and reporting a violation, the Probable Cause Panel, real estate activities that are considered misdemeanors, the causes of license application denial, license suspension or revocation, and limits imposed by law on the Real Estate Recovery Fund.

When you finish reading this module you will be able to:

  1. Describe the elements of a valid complaint.
  2. Explain the procedures involved in the reporting of violations, the investigation of complaints, and the conduct of hearings.
  3. Describe the composition of the Probable Cause Panel.
  4. Explain the penalties for first-degree and second-degree misdemeanors and recognize what real estate activities are first-degree misdemeanors.
  5. Recognize events that would cause a license application to be denied.
  6. Recognize actions that would cause a license to be subject to suspension or revocation.
  7. Identify individuals eligible (or ineligible) for reimbursement from the Real Estate Recovery Fund and the procedure to seek such reimbursement.
  8. Describe the monetary limits imposed by law on the Real Estate Recovery Fund.

 

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