Gold Coast Real Estate (School) Questions With correct Answers | Latest Upsate Graded A+

Gold Coast Real Estate (School) Questions With correct Answers | Latest Upsate Graded A+. If the sale of a business involves the transfer of ownership of shares of stock, what additional requirement is imposed? A. The real estate licensee must be associated with a brokerage firm B. A brokerage firm must be brought in to handle the transaction C. The real estate licensee must have a securities license D. The real estate licensee must have experience as a stockbroker - Answer- C. The real estate licensee must have a securities license Which real estate professional is expected to have the greatest level of knowledge and experience? - Answer- a real estate counselor all of the following are responsibilities of a property manager, EXCEPT A. Handling the payment of taxes, insurance, and operating expenses for the property B. Evaluating the investment value of the property C. Locating tenants, collecting rents, maintaining records, and scheduling maintenance D. Protecting the owner's investment and maximizing the profitability of the investment - Answer- B. Evaluating the investment value of the property According to F.S. 475, all of the following transactions are considered residential transactions, EXCEPT: A. A lease on a unit in a duplex, with an option to purchase the unit B. The sale of a 10-unit apartment building C. The sale of an eight-acre strawberry farm D. The sale of a lot that is zoned for a single-family home - Answer- B. The sale of a 10- unit apartment building Which of the following best defines appraising? A. The process of determining the amount of equity in real property B. The process of establishing the asking price of real property C. The process of establishing the firm value of real property D. The process of developing an opinion of the value of real property - Answer- D. The process of developing an opinion of the value of real property On what is an appraisal fee based? A. An average of the fees charged for appraisals of similar properties B. The time, effort, and expense involved in conducting the appraisal C. The value of the property D. The amount of time the appraiser spends, according to the prevailing hourly rate in the area - Answer- B. The time, effort, and expense involved in conducting the appraisal Which statement about insurance is accurate? A. Most homeowner's insurance policies include home warranty coverage B. C. D. - AnswerCh.2 - AnswerIn what year did Florida enact its first real estate license law? A. 1923 B. 1919 C. 1925 D. 1941 - Answer- A. 1923 What government entity was created for the purpose of administering and enforcing real estate license law? A. The division of real estate licensing B. the Florida real estate licensing board C. The Florida real estate commission D. The division of regulation - Answer- C. the Florida real estate commission Which of the following best describes the overall purpose of F.S. 475? A. to protect consumers B. to create the entities that regulate the real estate market C. to establish regulations and penalties for violations D. to define the qualifications for real estate licensees and appraisers - Answer- A. to protect consumers "The department" refers to which government entity? - Answer- The department of business and professional regulation (DBPR) What is "the division"? - Answer- The Division of real estate (DRE) All of the following persons require a Florida real estate license, EXCEPT: A. A person who negotiates the sale of a house in Delray Beach, Florida on behalf of a friend who inherited the house from his deceased mother, without receiving any compensation B. A person who lives and. Works in Atlanta, Georgia, who negotiates the sale of a relatives auto dealing business in Palm Beach County, and receives a flat fee for the service C. A person who is paid to advise a real estate investor about the relative merits of two Parcels of land in Orlando, FL, for future development D. A person who is paid a salary and is employed by a developer to sell timeshare units in a new condominium development in Naples, Florida - Answer- A. A person who negotiates the sale of a house in Delray Beach, Florida on behalf of a friend who inherited the house from his deceased mother, without receiving any compensation Which person requires a Florida real estate license? A. A person who helps a client locate and purchase a facility in Jacksonville, Florida, for the client's veterinary practice, and receives 3% of the purchase price for their services B. A person who lists for sale a lakefront home on Lake Tuscaloosa, in Alabama, for a longtime client and receives 5% of the selling price for their services C. A person who negotiates the sale of a 20-acre parcel of land that they own in Ocala, Florida D. A person who lives in Tallahassee who helps a friend purchase a duplex in Pensacola, Florida as an investment property but does not receive any compensation for their help - Answer- A. A person who helps a client locate and purchase a facility in Jacksonville, Florida, for the client's veterinary practice, and receives 3% of the purchase price for their services Which of the following most accurately defines "compensation" with respect to real estate licensees? A. Anything or any service of value that is paid, received, or expected to be paid or received in exchange for a performed service B. A flat fee or percentage commission that is paid in exchange for a performed service C. Money that is paid, received, or expected to be paid or received in exchange for a performed service D. Money that is paid in exchange for a performed service - Answer- A. Anything or any service of value that is paid, received, or expected to be paid or received in exchange for a performed service