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Gold Coast RE 1001 Cram, Practice Math and Final Exam with complete solutions
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Gold Coast RE 1001 Cram, Practice Math and Final Exam with complete solutionsGold Coast RE 1001 Cram, Practice Math and Final Exam with complete solutions Gold Coast RE 1001 Cram, Practice Math and Final Exam with complete solutions Gold Coast RE 1001 Cram, Practice Math and Final Exam with compl...

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  • January 14, 2024
  • 214
  • 2023/2024
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Gold Coast RE 1001 Cram, Practice Math
and Final Exam with complete solutions
312. Florida has established three authorized brokerage relationships. Unless otherwise
established by agreement, what is the broker's relationship with the public?

a. Nonrepresentation
b. Single agency
c. Dual agency
d. Transaction brokerage - Answer- D. Transaction brokerage

242. A broker has been found guilty of mail fraud by a court and sent to jail. The
broker's license will:

a. Automatically be revoked
b. Automatically be suspended
c. Probably be revoked because of the
conviction
d. Be renewed while he is in jail - Answer- C. Probably be revoked because of the
conviction

4. What is it called when a developer gives land to a governmental body?

a. Eminent domain
b. Condemnation
c. Lis pendens
d. Dedication - Answer- D. dedication

5. What business is a licensee engaged in who markets, leases and maintains property
for someone else?

a. Property management
b. Business brokerage
c. Universal agency
d. Estoppel - Answer- A. property management

6. In which service of real estate must a licensee disclose the agency relationship and
the responsibilities of that relationship to the public?

a. Residential sales
b. Residential leasing
c. Real estate appraisals
d. Real estate auctions - Answer- A. residential sales

,7. Which power authorizes the FREC to pass or revise rules?

a. Ministerial powers
b. Quasi-executive
c. Quasi-judicial
d. Quasi-legislative - Answer- D. quasi-legislative

8. All of the following would be grounds for suspension or revocation of a real estate
license, EXCEPT:

a. Not giving the proper agency disclosure
b. Falsifying information on a license
application
c. Not being a resident of Florida
d. False advertising - Answer- C. not being a resident of Florida

9. Sandy works as a sales associate for a broker and has been asked to work
weekends for a developer to sell new homes on commission. What must Sandy do to
work for the developer?

a. Transfer her license from the broker to the owner-developer
b. Notify the broker where she can be found on weekends
c. Contact the state and be issued a group license
d. Contact the state and be issued multiple licenses - Answer- A. transfer her license
from the broker to the owner developer

10. What does the license law require that a licensee complete before the first renewal
of a Florida real estate license?

a. A continuing education course
b. A minimum number of transactions
c. A post-licensing course
d. A REALTOR® orientation course - Answer- C. post-licensing course

11. In a brokerage corporation, the officers
and directors can be active or inactive brokers or nonlicensed registered persons. If
someone who is nonlicensed and registered wants to become a broker, what must he or
she do?

a. File an application with the secretary of state
b. Only take a 40-question law exam
c. Qualify for a broker license in the same
way as anyone else
d. Demonstrate 2 years of experience in the
real estate business - Answer- C. Qualify for a broker license in the same

,way as anyone else.

12. Who would be exempt from the real estate licensing law?

a. An apartment manager in an on-site
rental office renting for 2 years
b. A condominium manager leasing units for
2 years on salary
c. A mortgage broker negotiating a lease for
1 year
d. A person who rents mobile home lots - Answer- D. a person who rents mobile home
lots

13. Which entity provides the best protection for the public during a real estate
transaction?

a. The National and State Association of
REALTORS®
b. The punishment of licensees dealing
dishonestly
c. The NAR Code of Ethics
d. FREC and the license law - Answer- D. FREC and the license law

14. Which of the following is a characteristic of group license?

a. It allows a broker to have branch offices.
b. It allows a sales associate to work for
more than one broker.
c. It may be held by a sales associate or
broker associate.
d. It allows a broker to qualify for more than
one brokerage firm. - Answer- C. it may be held by a sales associate or broker
associate

16. Complete the sentence. A broker who holds more than one broker license:

a. Holds multiple licenses
b. Is in violation of the license law
c. Must register one as a branch license
d. Can have only one active at a time - Answer- A. holds multiple licenses

17. Complete the sentence. General partners in a brokerage partnership that are not
qualified to perform the services of real estate must be registered:

a. As inactive sales associates
b. As ostensible partners

, c. As inactive broker associates
d. For identification purposes - Answer- D. For identification purposes

18. Bill's license expired on September 30. On February 14, of the following year, he
wants to renew it. If it is not his first renewal, what must Bill do?

a. Start over with a pre-license course
b. Pay a late fee and complete two 14-hour
continuing education classes
c. Pay a late fee and complete 14 hours of
continuing education
d. Pay a late fee and complete 45 hours of
post-license education - Answer- C. Pay a late fee and complete 14 hours of
continuing education.

19. Ron and his wife each have real estate licenses before he enters the military. Ron is
stationed in Washington, D.C., and his wife accompanies him there. If they make their
licenses inactive:

a. Only Ron is exempt from renewal requirements until 6 months after he is discharged.
b. Only Ron is exempt from renewal requirements until 12 months after he is
discharged.
c. Ron and his wife are exempt from renewal requirements until 6 months after Ron's
discharge.
d. Ron and his wife are exempt from renewal requirements until 12 months after Ron's
discharge. - Answer- C. Ron and his wife are exempt from renewal requirements until 6
months after Ron's discharge

20. What is the status of a sales associate's license if the sales associate works for a
broker, and that broker loses his license?

a. Unaffected
b. Suspended
c. Revoked
d. Involuntary inactive - Answer- D. Involuntary inactive

21. The Florida Real Estate Commission may do all of the following, EXCEPT:

a. Impose imprisonment as a penalty
b. Pass rules to implement the license law c. Make determination of violations
d. Establish licensing fees - Answer- A. impose imprisonment as a penalty

22. Karl's license expired on September 30, 2015. On February 10, 2019 he wants to
activate it again. Which is correct?

a. He must complete 28 hours of continuing

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