Michigan Real Estate Exam Practice Question
If the Department receives a $1000 check that is returned for insufficient funds:
Correct Answer: D
Rationale: The situation involves a check returned for insufficient funds, which can lead to various consequences for the licensee.
Option A is incorrect; a check can typically be represented only once, not up to two times, depending on the policies of the financial institution.
Option B is misleading; while a license may be affected, suspension is not an automatic consequence solely due to a returned check.
Option C is partially correct but does not encompass the broader implications of disciplinary actions that can arise.
Option D accurately reflects that the licensee may face disciplinary action for failing to fulfill financial obligations, aligning with regulatory standards for professional conduct.
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