Montana Real Estate Broker Exam — All Questions
3 questions
Which body licenses and regulates real estate brokers in Montana?
- a.The Montana Association of Realtors
- b.The Montana Board of Realty Regulation within the Department of Labor and Industry✓
- c.The Montana Secretary of State
- d.The county clerk and recorder
The Montana Board of Realty Regulation, part of the Department of Labor and Industry, licenses and regulates brokers, salespersons, and property managers under Title 37, Chapter 51 MCA. A trade association has no licensing authority, and neither the Secretary of State nor the county recorder regulates real estate licensing.
Montana real estate licensing is primarily governed by which body of law?
- a.Title 70, Chapter 24 MCA
- b.The Montana Merchandising Practices Act
- c.Title 37, Chapter 51 MCA and the Board's administrative rules✓
- d.Title 24 of the Code of Federal Regulations
Montana real estate licensing is governed by Title 37, Chapter 51 of the Montana Code Annotated and the Board of Realty Regulation's administrative rules. Title 70, Chapter 24 is the Residential Landlord and Tenant Act, which is related but separate, and the federal citation does not govern Montana licensing.
Compared with a Montana salesperson, a Montana broker may additionally:
- a.Operate a firm independently and supervise affiliated salespersons✓
- b.Show property to prospective buyers
- c.Complete continuing education
- d.Hold a real estate license
The broker license is the higher tier: a Montana broker may operate a firm independently and act as a supervising broker for affiliated salespersons, which a salesperson may not do. Showing property, completing continuing education, and holding a license are activities common to both salespersons and brokers.