Question: he resource discusses some rules for establishing and licensing a real estate business. In some instances, a group of salespersons or associate brokers get together

he resource discusses some rules for establishing and licensing a real estate business. In some instances, a group of salespersons or associate brokers get together to form a team and conduct business together. Identify whether these statements are true or false of this type of business arrangement.

The business must be conducted in the name as it is registered with the license that is issued.

True

False

Fictitious business names cannot be used.

True

False

Every owner and officer of the business must have their own individual real estate license in addition to the business entity's real estate license.

True

False

They do not need a supervising broker as long as they have their own firm license.

True

False

The business can only be licensed as an LLC business type in order to qualify.

True

False

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