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Florida Real Estate Laws and Rules Codes, Florida Real Estate Questions for State Exam Studying, Florida Real Estate Notes to Study for State Exam, Florida Real Estate Key Terms for State Exam$13.99
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Florida Real Estate Laws and Rules Codes, Florida Real Estate Questions for State Exam Studying, Florida Real Estate Notes to Study for State Exam, Florida Real Estate Key Terms for State Exam
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Course
Florida Real Estate
Institution
Florida Real Estate
Florida Real Estate Laws and Rules Codes, Florida Real Estate Questions for State Exam Studying, Florida Real Estate Notes to Study for State Exam, Florida Real Estate Key Terms for State Exam
Florida Real Estate Laws and Rules Codes, Florida Real Estate Question... file:///C:/Users/HP/Desktop/NIW/Florida%20Real%20Estate%20La
Florida Real Estate Law & Rule Codes Florida Real
Estate Questions for State Exam Studying, Florida
Real Estate Notes to Study for State ExaFlorida Real
Estate Key Terms for State Exam
1. Florida Statute 20 Chapter 20
ANS Organizational Structure, establishes the struc-ture of the executive branch of Florida's
government. legislative branch, executive and judicial branch of government.
2. Florida Statute Chapter 475
ANS Called "REAL ESTATE BROKERS, SALES AS-SOCIATES, SCHOOLS, AND APPRAISERS". it
establishes the legal right and responsibilities in 4 parts
1. real estate brokerage
2. real estate appraisers and set fourth the requirements and licensed and certifiedappraisers
according to federal statute.
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3. commercial real estate sales commission lien act, gives a broker lien rights toearned
commission ( only commercial property).
4. commercial real estate leasing commission lien at gives a broker lien rights for earned
commission associated with a brokerage agreement to lease commercialreal estate.
Real estate brokers, sales associates and schools
3. Chapter 455
ANS Business and Professional Regulations general provisions, de-fines legal practice and
procedures for the DBPR.
4. Florida Statute 120
ANS The administrative procedure acts, defines the proceduralprocess by which regulatory
agencies decide and implement agency action.
5. Chapter 61J2
ANS rules of the florida real estate commission
6. Do real estate professionals provide knowledge of market condition?
ANS yes,because knowledge of market conditions is one of the 3 important areas you musthave
knowledge and understanding in when doing sales for real estate.
7. T or F.The product that real estate licensees market is expert information.-
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ANS True
8. T or F. Follow-up refers to returning phone calls to prospective buyers in a timely
manner.
ANS False, because this is what a sales associate does for buyers andsellers after the sale
(closing) to promote customer loyalty.
9. T or F. Real estate professionals who specialize in the sale, purchase, andlease of
businesses must hold a commercial license.
ANS False, because In Florida,an active real estate sales associate or broker license is required to
market businessopportunities. No license distinction is made regarding the type of real estate.
10. In order to work as a property manager independently what license do you need?
ANS you would be a active real estate broker license.
11. T or F. Rental agents manage the property once a tenant is secured.
ANS Fasle,because Rental agents typically find a tenant for property and collect a fee. Property
managers continue to manage the property once a tenant is secured.
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12. T or F. A property manager of an apartment building who is paid on
a transactional basis must hold a CAM license.
ANS False, because A property manager of an apartment building who is paid on a transactional
basis must be licensed as a broker. A CAM license is not required to manage apartment buildings.
13. T or F. The Uniform Standards of Professional Appraisal Practice are standards of
practice that must be followed by appraisers but not real estatelicensees.
ANS False, because Florida law requires appraisers, real estate brokers, and sales associates to
abide by the Uniform Standards of Professional AppraisalPractice when conducting appraisals
of real property.
14. T or F.Real estate licensees must abide by USPAP when preparing CMAsand BPOs.
ANS False, The USPAP standards do not apply to real estate licensees who,in the ordinary course
of business, perform CMAs and BPOs.
15. T OR F. Sources of real estate financing include commercial banks, savingsassociations,
credit unions, and mortgage companies.
ANS TRUE.
16. T OR F. An individual who offers to negotiate the terms of residential mortgage loan
applications for compensation must be licensed as a real estate broker.
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