Arkansas Real Estate Practice Exam

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Prepare for the Arkansas Real Estate Exam with our comprehensive quiz featuring multiple-choice questions and detailed explanations. Get ready to showcase your real estate knowledge and secure your license!

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Are application fees for broker's license refundable?

  1. Yes

  2. No

  3. Refundable only in special circumstances

  4. Refundable within 30 days of payment

The correct answer is: No

Broker's licenses have a specific application fee that is typically non-refundable. This fee is used to cover the cost of processing the application and is not dependent on the outcome of the application. Option A is incorrect because, as stated above, the application fee is usually not refundable. Option C is also incorrect because there are no special circumstances in which the fee would be refundable. Option D is incorrect because there is no time limit for the fee to be refunded. Therefore, the most accurate response to the question is option B.

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