Arkansas Real Estate Practice Exam

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What must be done when a Real Estate Firm closes?

  1. Notify the Commission in writing

  2. Have a closing sale

  3. Transfer all clients to another firm

  4. Archive the firm’s website

The correct answer is: Notify the Commission in writing

When a Real Estate Firm is closing, it is important to properly notify the Commission in writing, as this is required by law in most states. This allows for proper record keeping and ensures that the appropriate authorities are aware of the closure. Having a closing sale or archiving the firm's website may not be necessary or beneficial in this situation. Additionally, transferring all clients to another firm may not be required and could potentially cause confusion or inconvenience for the clients. Therefore, option A is the most appropriate action to take when closing a Real Estate Firm.

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