Arkansas Real Estate Practice Exam

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Prepare for the Arkansas Real Estate Exam with comprehensive quizzes featuring multiple-choice questions and detailed explanations. Boost your confidence and knowledge, ensuring you're ready to tackle the licensing exam successfully!

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What should be done if the broker price opinion is to be used for a purpose not specifically allowed by law?

It should be ignored
Legal counsel should be consulted
It should be used as a guide only
The opinion should be discarded

The correct answer is: Legal counsel should be consulted

If the broker price opinion is to be used for a purpose not specifically allowed by law, it is important to consult with legal counsel. This is because using the opinion for an unapproved purpose may have legal consequences. Ignoring the opinion (option A) is not a responsible solution and may lead to further issues. Using the opinion as a guide only (option C) may be helpful, but it is still important to seek legal advice. Discarding the opinion (option D) is unnecessary and may result in missing out on important information. Therefore, the best course of action is to consult with legal counsel (option B).