All 50 States Have Licensing Laws That Regulate Persons and Companies

question 15

Multiple Choice

All 50 states have licensing laws that regulate persons and companies that engage in the brokerage business. Interpreting and enforcing state licensing laws falls under the responsibilities of which of the following parties?

• A) Broker
• B) Real estate commission
• C) National Association of Realtors
• D) Salesperson

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Definitions:

Response Inhibition

The cognitive process that involves the ability to suppress actions or responses that are inappropriate or not required in a particular situation.

Attention Control

The capacity to manage one's focus and selective attention towards desired stimuli while ignoring distractions.

Working Memory

A cognitive system responsible for temporarily holding information available for processing, important for reasoning and the guidance of decision-making and behavior.

Deductive Reasoning

A logical process in which a conclusion is based on the concordance of multiple premises that are generally assumed to be true.