Arkansas Real Estate Practice Exam

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What happens if the Renewal License Fee is not received on time?

  1. The license will be put on hold

  2. The licensee must pay a late fee

  3. The license is considered expired

  4. The license will be renewed automatically

The correct answer is: The license is considered expired

If the renewal license fee is not received on time, the license will be considered expired. This means that the licensee will no longer have a valid license to operate and will need to reapply and meet all necessary requirements in order to obtain a new license. Option A is incorrect because the license does not go on hold, it becomes expired. Option B is also incorrect because a late fee is not mentioned in the question. Option D is not applicable because the license is not automatically renewed without receiving the fee.

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