If a licensee allows their license to expire, how long do they have to reinstate it without penalty?

When a real estate licensee allows their license to expire, they do not have a grace period or "free" time for reinstatement without penalty. This means that once a license expires, the licensee must take immediate action to renew or reinstate the license, as any continued practice of real estate without a valid license is considered illegal and can carry penalties.

The other choices imply there is a specific time frame during which the license can be reinstated without incurring penalties, which is not accurate in this context. A licensee must stay attentive to renewal deadlines and complete the necessary requirements before expiration to avoid complications. Ensuring timely renewal is crucial for maintaining licensure in real estate practice.