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UNIT 2- REAL ESTATE LICENSE AND QUALIFICATIONS FOR LICENSURE (CONTENT) Exam Study Guide £9.99
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UNIT 2- REAL ESTATE LICENSE AND QUALIFICATIONS FOR LICENSURE (CONTENT) Exam Study Guide
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©SIRJOEL EXAM SOLUTIONS 2024/2025 ALL RIGHTS RESERVED. 1 | P a g e UNIT 2- REAL ESTATE LICENSE AND QUALIFICATIONS FOR LICENSURE (CONTENT) Exam Study Guide. 1923(license law) - AnswersFlorida Legislature passed the Real Estate License Law, chapter 475 of the Florida Statutes. 1925 (FREC) - ...

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  • December 10, 2024
  • 26
  • 2024/2025
  • Exam (elaborations)
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©SIRJOEL EXAM SOLUTIONS 2024/2025

ALL RIGHTS RESERVED.




UNIT 2- REAL ESTATE LICENSE AND
QUALIFICATIONS FOR LICENSURE
(CONTENT) Exam Study Guide.


1923(license law) - Answers✔Florida Legislature passed the Real Estate License Law, chapter

475 of the Florida Statutes.


1925 (FREC) - Answers✔Florida Real Estate Commission (FREC/ the commission) to administer

and enforce the license law. The Commission has the authority to keep records and conduct

investigations, as well as the power to grant, deny, suspend, and revoke licenses, and discipline

licensees.


Division of Real Estate (DRE) - Answers✔provides support services to the Commission. The DRE

is under the Department of Business and Professional Regulation (DBPR).


CHAPTER 20 F.S. - Answers✔The executive branch of Florida's government executes the

programs and policies adopted by the Legislature including the Department of Business and

Professional Regulation (DBPR)




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, ©SIRJOEL EXAM SOLUTIONS 2024/2025

ALL RIGHTS RESERVED.
CHAPTER 475 is divided in four parts. - Answers✔This law is called the Real Estate Professional

Practice. The Law was created to establish the legal rights and responsibilities of the real estate

licensees and real estate appraisers.


PART I (chapter 475) - Answers✔Real Estate Brokerage.


Real estate licensees are responsible for knowing the provisions of this chapter. FREC

implements, interprets, and enforces the regulatory provisions of Chapter 475.


PART II(chapter 475) - Answers✔Pertains to real estate appraisers and sets forth the

requirements for licensed and certified appraisers according to federal statute. (FREAB).


The Florida Real Estate Appraisal Board (FREAB) - Answers✔regulates state-certified, licensed,

and registered trainee appraisers.


The FREAB functions very similarly to the Florida Real Estate Commission (FREC). Both quasi-

judicial bodies follow the same procedures for disciplining licensees.


PART III(chapter 475) - Answers✔The Commercial Real Estate Sales Commission Lien Act, gives

a broker lien rights for earned commission. This act applies only to commercial property (not

residential property). The lien is only against the owner's net proceeds (personal property) from

the sale and does not attach to the commercial real property.


PART IV (chapter 475) - Answers✔The Commercial Real Estate Leasing Commission Lien Act,

gives a broker lien rights for earned commission associated with a brokerage agreement to

lease commercial real estate.


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, ©SIRJOEL EXAM SOLUTIONS 2024/2025

ALL RIGHTS RESERVED.
CHAPTER 455 - Answers✔DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION and all

professions under the department, including real estate. Including section 455.10 and section

455.227


CHAPTER 455.10 - Answers✔provides that an individual cannot be disqualified from practicing

an occupation or profession regulated by the State of Florida solely because the person is not a

U.S. citizen. Another section of this statute sets forth laws regarding Commission and board

organization, meetings, compensation, and so forth. This statutes also concerns the unlicensed

practice of a profession, including real estate. requirements concerning license examinations

and the use of professional testing services are set forth in Chapter 455. This law also mandates

what actions the DBPR may take in regulating licensees.


CHAPTER 455.227 - Answers✔authorizes the Commission to discipline a real estate licensee

who has failed to notify the DBPR within 30 days of a conviction, finding of guilt, plea, or

adjudications of a crime, regardless of where the event occurred.


CHAPTER 120 - Answers✔The Administrative Procedure Act defines the procedural process by

which regulatory agencies decide and implement agency action. The licensing and disciplinary

process for real estate licensees is outlined in this chapter.


Chapter 61J2, Florida Administrative Code - Answers✔It is a set of administrative rules

developed by the FREC, pursuant to the rule making process outlined in chapter 120, F.S.


Administrative rules are published in the Florida Administrative Code(FAC).



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