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BOB HOGUE SALES ASSOCIATE EXAM REVIEW QUESTIONS & ANSWERS SOLVED 100%CORRECT!!.
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BOB HOGUE SALES ASSOCIATE EXAM REVIEW QUESTIONS & ANSWERS SOLVED 100%CORRECT!!.
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BOB HOGUE SALES ASSOCIATE EXAMREVIEW QUESTIONS & ANSWERS
SOLVED 100% CORRECT!!
the product that real estate licensees market is - ANS-information
n n n n n n n n n
knowledge of property transfer, knowledge of market conditions, knowledge of how to
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market real estate or business
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a competent licensed real estate professional must know the economic and legal
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intricacies associated with transfers of - ANS-title, property taxes, financing, and local
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zoning ordinances
n n
to be successful, licenses must know how to - ANS-market real estate and businesses
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real estate brokerage - ANS-the business of bringing together buyers and sellers,
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nowners and renters, and of completing real estate transactions
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5 sales specialties of real estate - ANS-residential, commercial, industrial, agricultural,
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business
n
real estate professionals have found that advertising money is more efficiently spent
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nand produces better outcomes if efforts are focused on a target market - ANS-target
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nmarketing involves expertise in locating prospects
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many brokers and sales associates prefer to select one specific portion of a city and
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become an expert in that particular portion, called - ANS-farm area
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property management - ANS-professional service conducted by a person or company
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hired to maintain and manage property on behalf of the property owners
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property manager - ANS-the property owners local representative
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rental agents - ANS-typically find a tenant for property and collect a fee
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absentee owner - ANS-a property owner who does not reside on the property and who
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often relies on a professional property manager to manage the investment
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,a property manager who is paid by commission or on a transactional basis must be -
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ANS-licensed as an active real estate broker
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CAM (community association manager) - ANS-association consists of 10+ units, or has
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budget higher than $100,000
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appraisal - ANS-process of developing and communicating an opinion about a
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property's value
n n
FREAB (florida real estate appraisal board) - ANS-regulates state certified and licensed
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appraisers. federally related transaction
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USPAP - ANS-uniform standards of professional appraisal practice
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florida law requires appraisers, real estate brokers, and sales associates to abide by -
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nANS-USPAP when conducting appraisals of real property. n n n n n n
CMA - ANS-comparative market analysis. sellers often ask real estate brokers and
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sales associates what buyers are likely to pay for their property's
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BPO - ANS-brokers price opinion. a written opinion of the value of real property
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the money you earn is - ANS-your brokers
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financing - ANS-life blood of real estate. business of providing funds that make real
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nestate transactions possible.
n n
counseling - ANS-service of analyzing existing or potential projects and providing advice
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to individuals and firms regarding the purchase and use of real estate investments
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3 phases of development and construction - ANS-land acquisition, subdividing and
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development, recording the subdivision plat map
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subdividing - ANS-process of converting parcels of land into smaller units or lots.
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development - ANS-improving raw land n n n n
subdivision plat map - ANS-developers submit for new development for review by the
n n n n n n n n n n n n
gov
n
dedication - ANS-gift of land by an owner. involves streets, sidewalks, park areas, and
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other improvements. streets and public areas obligates the local government to
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maintain them.
n n
3 categories of residential construction - ANS-speculative, custom homes, tract homes
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,the local government impacts the real estate business through - ANS-property taxation
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nand regulatory activities
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the state government impacts the real estate business - ANS-when ownership to real
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nproperty is transferred or pledged as collateral for a mortgage
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the federal government impacts the real estate business through - ANS-fiscal and
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nmonetary policies n
NAR - ANS-national association of realtors. largest trade organization in the world.
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promotes ethics and education in the industry. NAR realtors must complete 3 hours of
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training every 4 years
n n n n
florida statute 20 - ANS-executive branch of floridas government
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florida statute chapter 475 part 1 - ANS-pertains to real estate brokerage, sales
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nassociates, schools n
florida statute chapter 475 part 2 - ANS-pertains to real estate appraisers and sets forth
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nrequirements for licensed and certified appraisers according to federal statute. FREAB
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n(florida real estate appraisal board) regulates state certified, licensed and registered
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ntrainee appraisers n
florida statute chapter 475 part 3 - ANS-commercial real estate sales commision lien act
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ngives broker lien rights for earned commission. applies to commercial property, NOT
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nresidential. Lien is only against the onwers new proceeds from the sale and does not
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nattach to the commercial real property.
n n n n n
florida statute chapter 475 part 4 - ANS-the commercial real estate leasing commission
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nlien act, gives broker lien rights for earned commission associated with brokerage
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nagreement to lease commercial real estate n n n n n
chapter 455 - ANS-professions regulated by DBPR (dept business and professional
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regulation). discipline a real estate licensee who failed to notify DBPR within 30 days of
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conviction, finding of guilt, plea, or adjudication of a crime
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florida statute 120 - ANS-procedural process for all governmental entities authorized
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nunder the florida constitution.
n n n
chapter 61J2 - ANS-FREC (florida real estate commission) rules
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sales associate - ANS-person who performs real estate services for compensation but
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who does so under the direction, control, or management of a broker/owner developer
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, broker - ANS-a person who for another, and for compensation or other consideration (or
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anticipation of compensation or other consideration) performs real estate services
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broker associate - ANS-a person who holds a brokers license but chooses to register
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and work in real estate under the direction of another broker.
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an individual typically begins a real estate career in Florida as - ANS-a licensed sales
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associate. starts with license as voluntary inactive sales associate
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owner developer - ANS-an unlicensed entity that sells, exchanges, or leases its own
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property
n
becoming a broker requires - ANS-additional education, experience, and passing the
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broker license exam
n n n
license application expires: - ANS-2 years after the date the DBPR receives the
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napplication
military veteran and spouse waiver - ANS-DBPR has the authority to waive the initial
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application, license, and unlicensed activity fees for military vets and their spouses who
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apply for a real estate license within 60 months after honorable discharge
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background check of criminal history - ANS-a withhold of adjudication must be disclosed
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on the application
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background check and expungement - ANS-process by which the record of criminal
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conviction is destroyed or sealed after expiration of time.
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when in doubt, always - ANS-disclose
n n n n n
a florida real estate licensee who moves out of state and becomes a non florida resident
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must notify the commission within - ANS-60 days
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licensees must notify FREC with a change of mailing address within - ANS-10 days
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florida resident - ANS-person who has resided in FL continuously for a period of 4
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ncalendar months or more within the preceding year regardless of whether the person
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nresided in a recreational vehicle, hotel, rental unit, or other temporary/permanent
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nlocation
sales associate applicant must be (age) - ANS-18
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applicant who has been disbarred or guilty of offenses is not qualified for a real estate
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license unless - ANS-passage of time, good conduct and reputation, or other sufficient
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reasons cause the commission to believe granting the license will not endanger the
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interests and welfare of the general public.
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