Exam (elaborations)
GOLDCOAST REAL ESTATE QUESTIONS AND ANSWERS 2024
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GOLDCOAST REAL ESTATE QUESTIONS AND ANSWERS 2024
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GOLDCOAST REAL ESTATEA sales associate failed to complete the required post-license education prior to
renewal. What is the status of the license? - ANSWERS-Void
How may a licensed sales associate be paid by their owner-developer? -
ANSWERS-On a commission or salary basis
What are the minimum employment requirements for a licensed sales associate
to qualify for a real estate brokers license? - ANSWERS-Employed for 24 months
under one or more actively licensed broker
A developer contracts to build a home according to the buyer's specifications.
This is an example of which type of building? - ANSWERS-Custom
The federal, state, and local governments all play a role in the regulation of real
estate. In which of the following areas would the local government have the most
impact? - ANSWERS-Property Taxes, Building Moratoriums, and zoning
Real estate licensees are expected to be knowledgeable in all of the following,
EXCEPT: - ANSWERS-Accounting
All of the following services require a real estate license, EXCEPT: - ANSWERS-
Mortgaging
,What must an applicant for a real estate license do if the have been convicted of a
crime? - ANSWERS-The applicant must disclose all convictions on the application
Which condition must exists for an applicant to qualify for a Florida real estate
license? - ANSWERS-The applicant must have a high school education or
equivalent
Which of the following statements best describes an attorney-in-fact? -
ANSWERS-An attorney in fact is authorized by a power of attorney to act for
another.
What is a brokers associate? - ANSWERS-A broker who is employed as a sales
associate
The Department of business and Professional Regulation has the authority to
issue all of the following, EXCEPT: - ANSWERS-An injunction
Which of the following entities issues real estate licenses? - ANSWERS-The
Department of Business and Professional Regulation
After being active in the real estate business for over five years, a licensee's
license expired on September 30th. What is the status of the license on October
1st? - ANSWERS-Involuntary Inactive
, What action may the Department take if it determines that an unlicensed person
has operated in violation of a law or rule under its administration? - ANSWERS-An
administrative fine of up to $5,000 may be imposed
A sales associate is employed by a broker Monday through Friday and for a
builder on the weekends. The sales associate feels the added experience is
beneficial especially since both employers pay an attractive commission split.
Which statement is correct? - ANSWERS-This arrangement violates the license law
The DBPR is created by which statute? - ANSWERS-F.S. 455
Who owes fiduciary duties in a single agency relationship? - ANSWERS-The broker
only
In which of the following situations does a general agency relationship exist? -
ANSWERS-When a sales associate is employed by a broker
Broker Joan just received an oral offer to purchase a listed property. No earnest
money accompanied the oral offer. Which of the following statements is correct?
- ANSWERS-Joan must present the offer.
Which of the following statements best describes a transaction broker? -
ANSWERS-A transaction broker may provide limited representation to both
parties.
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