Question

The Real Estate Recovery fund is financed through money received from administrative fines and surcharges on new and renewing licenses. What is the dollar amount accumulated in the fund where surcharges are no longer levied on licenses?

Answer 1

Answer:

The correct answer is:  $1,000,000 (one million dollars).

Explanation:

The Real Estate Recovery fund is the poll of money collected to refund people who have been affected somehow by real state brokers or salespeople. Fraud, misrepresentation or deceit are considered for his purpose and it is given only when no benefit can be provided to the person affected after court. If the amount implied is greater than $1,000,000 (one million dollars) the Real Estate Recovery Fund is unable to provide any reimbursement aid.