Gold Coast End of chapter Questions 1-19 Questions With Verified Answers.
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Gold Coast Real Estate
Institution
Gold Coast Real Estate
Gold Coast End of chapter Questions 1-19
Questions With Verified Answers.
Which of the following statements is true regarding a mortgage loan originator? - answerA
mortgage loan originator must have a separate license.
A real estate appraiser's fee for professional service is based on which of ...
Gold Coast End of chapter Questions 1-19
Questions With Verified Answers.
Which of the following statements is true regarding a mortgage loan originator? - answer✔A
mortgage loan originator must have a separate license.
A real estate appraiser's fee for professional service is based on which of the following? -
answer✔The time and difficulty of the appraisal
Which of the following best describes the real estate brokerage business? - answer✔Service
Business
When a developer completes construction of a new subdivision, all streets, electric, water, and
sewer installation are finished and deeded to the city or county. What is this process called? -
answer✔Dedication
All of the following are responsibilities of a property manager, EXCEPT: - answer✔Preparing
Leases
What does the term "farming" refer to in real estate? - answer✔Specializing in one geographic
area
Which insurance policies can a real estate licensee offer to the public without additional state
licensing? - answer✔None of the Above
What is the purpose of the National Association of REALTORS®? - answer✔Preserve the right
of individuals to own real property through of an exchange of information
What does the designation of REALTOR® signify? - answer✔The designation identifies the real
estate professional as a member of NAR
developer contracts to build a home according to the buyer's This is an example of which
specifications. type of building? - answer✔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? - answer✔Property
taxes, building moratoriums, and zoning
Which of the following best describes licensees who are involved in business opprtunity
brokerage? - answer✔They must be able to analyze financial statements and understand balance
sheets
Real estate licensees are expected to be knowledgeable in all of the following areas, EXCEPT: -
answer✔Accounting
Which service provided by real estate licensees requires the most experience and knowledge? -
answer✔Counceling
An appraiser, who is registered, licensed, or certified under F.S. 475, Part II, must be utilized in
which of the following? - answer✔All appraisals
In what year was the Florida Real Estate Commission created? - answer✔1925
What is the purpose of the real estate license law? - answer✔To protect the public
Why was the Florida Real Estate Commission created? - answer✔To administer and enforce the
law
A sales associate failed to complete the required post-license education prior to renewal. What is
the status of the license? - answer✔Placing and keeping on record the sales associates name,
home address and business address of his or her employing broker
How may a licensed sales associate be paid by his or her owner-developer? - answer✔On a
commission or salary basis
What are the minimum employment requirements for a licensed sales associate to qualify for a
real estate broker's license? - answer✔Employed for 24 months under one or more actively
licensed brokers
How many hours of post-license education are required to renew a broker license? - answer✔60
All of the following services require a real estate license, EXCEPT: - answer✔Mortgaging
All of the following information appears on a Florida real estate license, EXCEPT: -
answer✔The signature of the Governer
What must an applicant for a real estate license do if he or she has been convicted of a crime? -
answer✔The applicant must disclose all convictions on the application
Which condition must exist for an applicant to qualify for a florida real estate license? -
answer✔The applicant must have a high school education or equivalent
Which of the following statements best describes an attorney-in-fact? - answer✔An attorney in
fact is authorized by a power of attorney to act for another
Which individual is exempt from the licensing requirements of Florida Statute 475? -
answer✔An attorney who performs legal duties in connection with a real estate transaction
Complete this statement. An actively licensed attorney who is a member in good standing with
the Florida Bar - answer✔Is excempt from continuing education requirements to maintain a real
estate license
What is a broker associate - answer✔A broker who is employed as a sales associate
Florida has an agreement with some other states that for licensees. What is the agreement
education and experience requirements recognizes the similarity in called? - answer✔Mutual
recognition
Which of the following statements is true regarding a plumber who has been appointed by a
court to appraise a small business? - answer✔The plumber may do so, and be paid a fee
All of the following individuals are exempt from the real estate license law, EXCEPT: -
answer✔Funeral directors performing duties of real estate for commission
A georgia broker with extensive experience in conducting auctions was asked by a local real
estate broker to auction did not result in a sale. The florida broker paid the georgia broker for out
if pocket expenses, but did not pay a commission. Which of the following statements is correct? -
answer✔The georgia broker violated license law.
The Department of Business and to issue Professional Regulation has the authority all of the
following, EXCEPT: - answer✔An injuction
What is the maximum number of years a member may serve on the Florida Real Estate
Commission? - answer✔No maximum
Which statement is true regarding the secretary of the Department of Business and Professional
Regulation? - answer✔The secretary is appointed by the governer
Which statement is true regarding examination questions and answers? - answer✔They are
confidential
Which of the following entities issues real estate licenses? - answer✔The department of business
and professional regulations
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? - answer✔Involuntary inactive
The Florida Real Estate Commission held a meeting for the purpose of passing a new rule. This
is an exercise of which Commission power? - answer✔Quasi-legislative
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