Exam (elaborations)

Florida Real Estate Exam – Compucram || Already Graded A+.

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Florida Real Estate

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Florida Real Estate

A real estate sales agent is the subject of investigation by the Division of Real Estate. The Department of Business and Professional Regulation sends the licensee an outline of charges against him/her. This is referred to as: correct answers A formal complaint. Formal complaint: correct answers...

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Uploaded on August 2, 2024
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Type Exam (elaborations)
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a real estate sales agent is the subject of invest

Institution Florida Real Estate
Course Florida Real Estate

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Florida Real Estate Exam – Compucram || Already Graded A+.
A real estate sales agent is the subject of investigation by the Division of Real Estate. The Department of Business and Professional Regulation sends the licensee an outline of charges against him/her. This is referred to as: correct answers A formal complaint.
Formal complaint: correct answers If probable cause is found to exist, the probable-cause panel will direct the DBPR to file a formal complaint against the subject of the investigation. Also called and administrative complaint, it includes an outline of charges and must be answered within the statutory time limit.
Any property management firm or any owner of an apartment complex for the act of paying a finder's fee or referral fee to an unlicensed person who is a tenant in such apartment complex provided the value of the fee does not exceed how much per transaction? correct answers Any property management firm or any owner of an apartment complex for the of paying a finder's fee
to an unlicensed person cannot exceed $50.
A sales agent is held liable for a violation of real estate license law that is a first-degree misdemeanor. The penalty is: correct answers A fine of not more than $l,000 and/or up to one year in jail.
How many members on the FREC and how are they allocated? correct answers 7. Four members of the FREC are required to be brokers. Two members have never been licensed as a broker or sales associate. One of the members is a sales associate that has been practicing for
at least two years preceding the appointment.
A sales associate joined the army. The agent's license is: correct answers Exempt from all renewal requirements while on active duty and for six months thereafter.
A broker has a lien upon the owner's net proceeds from the disposition of commercial real estate for any commission earned by the broker with respect to that disposition pursuant to a brokerage agreement. The lien upon the owner's net proceeds pursuant to this part for a broker's commission is a lien upon which of the following? correct answers The sellers proceeds from the
sale. Florida Statutes allow for a broker to lien the seller proceeds from the sale of a commercial property to secure the broker's commission.
The Commission may do all of the following EXCEPT:
A. Place licensee on probation B. Deny an application for licensure C. Suspend a license for up to 10 years D. Issue an injunction correct answers D. Issue an injunction. Only a judge can award an injunction which is an order from the court to do or refrain from doing things. The Commission may place a licensee, registrant, or permittee on probation; suspend a license, registration, or permit for a period not exceeding 10 years or revoke a license.
The seven members of The Florida Real Estate Commission are seated how? correct answers Appointed by the Governor with consent of the Senate.
Who confirms the appointment of the seven members of the Florida Real Estate Commission? correct answers The Senate.
A seller files a complaint with the Department of Business and Professional Regulation against a real estate agent. An informal hearing is held only if: correct answers If the formally charged licensee requests it, he/she will be permitted an informal hearing during a regular Commission meeting.
When does a real estate sales license expire? correct answers Every two years. The DBPR is authorized to renew licenses at least every four years, the current license renewal period is two years.
Which type of license is needed to sell a cemetery plot? correct answers No license is required to
sell cemetery plots.
Services of real estate do NOT include: correct answers Selling cemetery plots for compensation.
A broker who represents, as a fiduciary, either the buyer or seller but not both in the same transaction is referred to as: correct answers A single Agent. Under Florida license law a broker can represent either or neither but never both.
An auditor shows up at a Real Estate broker's office and demands to see the brokerage relationship disclosure records. For how many years back must a broker be able to produce complete disclosure document files? correct answers 5 years. Brokers must retain brokerage relationship disclosure documents for five years for the following:
all residential transactions that result in a written contract to purchase and sell real property, and all nonresidential transactions that utilize designated sales associates.
Sales associate Ann recently moved from Clearwater, Florida, to Tampa, Florida. She must: correct answers Notify the DRE of her change in current mailing address within 10 days of the change. The FREC requires that a licensee notify the DBPR, in writing. If the licensee fails to notify the DBPR of the change in the prescribed period, he/she may be issued a citation and be fined $100.00.

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Exam (elaborations)

Florida Real Estate Exam – Compucram || Already Graded A+.

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