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Real Estate Salesperson Exam — National Portion

Recovery fund (OH): practice questions

Our Real Estate (National) bank has 5 questions on this topic. Here are 4 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · Ohio

In which court does a claimant file to be paid from the Ohio recovery fund?

  1. The Ohio Court of Claims
  2. The common pleas court where the land lies
  3. Any municipal court with jurisdiction
  4. Franklin County common pleas court
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D. Franklin County common pleas court — Ohio Rev. Code 4735.12(B)(1).

Question 2 · Ohio

When does the commission impose a special recovery fund assessment on renewing licensees?

  1. The fund is under $500,000 on January 1
  2. The fund is under $250,000 on July 1
  3. At every renewal
  4. Claims paid exceed $100,000 in a year
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B. The fund is under $250,000 on July 1 — Ohio Rev. Code 4735.12(A).

Question 3 · Ohio

What is the maximum the Ohio real estate recovery fund will pay on account of any one licensee?

  1. $25,000 per claim
  2. $75,000 per year
  3. $40,000
  4. $50,000
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C. $40,000 — Ohio Rev. Code 4735.12(D).

Question 4 · Ohio

Which of these can be recovered from the Ohio recovery fund?

  1. Interest accrued since the judgment
  2. Punitive damages awarded against the licensee in the suit
  3. The unpaid actual and direct loss on the judgment
  4. Attorney's fees spent on the judgment
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C. The unpaid actual and direct loss on the judgment — Ohio Rev. Code 4735.12(B)(1)-(2).

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