15. An affiliate broker who retires his/her real estate license may: Continue to list and to sell so long as the list price is under $100,000. Continue to list property but cannot work with buyers. Have the license re-activated by taking the necessary steps. Sell another person's real property for a salary but not a commission. a. b. C. d. p. With property for sale yard signs, the affiliate broker's name must be Above the firm name. Below the firm name. a. b. Larger than the firm name The same size or smaller than the firm name. d. Earnest money collected by an affiliate broker must be: Held by the affiliate broker until closing. Given to the listing agent. Turned over to his/her broker immediately upon receipt. Given to the seller until closing. a. b. C. d. Brokers and affiliate brokers are only required by law to present the seller if: The offer is for full price. The offer is written. The offer includes earnest money of atleast $1,000. The buyers are financially qualified for a conventional lo a. b. С. d.

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Capital Gain

Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.