Florida real estate state exam questions and answers 100% pass

Florida real estate state exam questions and answers 100% pass In which area of brokerage has absentee ownership increased the demand? Property management How is a real estate appraiser typically paid? A fee based upon time and difficulty of the appraisal What does the local planning agency have the authority to approve A subdivision plat map What is it called when a developer gives the land to a government body Dedication What business is a licensee engaged in who markets, leases and maintains property for someone else Property management In which service of real estate must a licensee disclose the agency relationship and the responsibilities of the relationship to the public Residential sales Which power authorizes the front to pass or revise rules Quasi-legislative All of the following would be grounds for suspension or revocation of a real estate license except Not being a resident of Florida Sandy works as a sales associate for a broker and has been asked to work weekends for a new developer to sell new homes on commission what must Sandy do for the developer? Transfer her license from the broker to the owner developer What does the license law require that the licenseecomplete before the first renewal of a Florida real estate license A post licensing course In a brokerage corporation the officers and directors can be active or in active brokers or non-licensed registered persons. If someone who is non-licensed and registered wants to become a broker what must he or she do? Qualify for a broker license in the same way as anyone else Who would be exempt from the real estate licensing law A person who rents homes less than a year Which entity provides the best protection for the public during the real estate transaction Frec What is a characteristic of a group license It may be held by a sales associate or broker associate working for an owner developer What is exempt from FS 475 Trustees for an estate, personal representative for an estate, mortgage brokers engaged in financial activities. However not business brokers A broker who holds more than one broker license... Holds multiple licenses General partners in a brokerage partnership that are not qualified to perform the services of a real estate must be registered .... For identification purposes Bills license expired on September 30, 2013. On February 14, 2014 he wants to renew it. If it's not his first renewal, what should Bill do? Paying a late fee and complete 14 hours of continuing education Ron and his wife each have a real estate license before he enters the military Ron is stationed in Washington DC and his wife accompanies him there if they make their license in active... Ron and his wife are exempt from the new requirements until six months after Ron's discharge What is the status of a sales associate license if the sales associate works for a broker and the broker loses his license? Involuntary inactive The Florida real estate commission May past rules to implement the license, make determination of violations, establish licensing fees but they may not... Impose imprisonment as a penalty Call's license expired September 30, 2010 on February 10, 2014 he wants to activate again which is correct His license is Null & void A real estate broker has entered into a single agency relationship with the sellers on a three bedroom two bath house. One of the agents in that brokers office has found an investor wanting to hire the brokerage firm as a single agent. For the investor to be shown the sellers house ...... Both the seller and the investor must agree to transition to transaction broker status What must be given to a seller who is about to enter into a fiduciary relationship with the brokerage firm Single agency notice What should a sales associate do if his employing broker instructs him or her not to show properties to the people of a certain race Find a new employer Which form requires the signatures of all parties Transition to transaction In which instance must be agency disclosure forms developed by the state be used Residential sales Which Duty does a broker owe to a customer Disclose all known facts affecting the value of a residential property What must all advertising of listed property contain Name of the brokerage firm Sales associate Glenn works for a broker John. If Glenn receives an escrow deposit on Tuesday what should he do Deliver it to his broker immediately(next business day) A broker may hold escrow deposits in any of the following except a Savings Association, the commercial bank, a credit union, a mutual fund A savings Association To whom do listings obtain by a sales associate belong To the employing broker A broker who sells a rental list to a prospective tenant for $200. In a written agreement The broker states that the fee is nonrefundable this is ... Illegal under FS 475 I still associate wants to use a trade or fictitious name. Which statement applies This would violate FS 475 Jim is a sales associate applicant but has failed the state exam twice after reviewing his most recent exam he feels that some of the questions he missed for a really correct and Marked wrong in error what may Jim do Finally written objection to the questions during the scheduled question review Greg is a real estate associate working for ABC Realty. Greg decides to have a refrigerator magnet made to give out to the public what must he include on the magnets? They must contain the name ABC Realty A borrower applied for and received an adjustable rate mortgage. The interest rate increased more than the periodic Would allow the new payment does not cover the full interest that is added to the principal balance and deferred. What is this called? Negative Amortization Which business entity may not register as real estate brokerage firm Corporation sole When there is a dispute over escrow funds the procedures include four choices which choice involves a third person recommending a solution Mediation Which step follows the investigation in the complaint process Probable cause determination If a licensee does not dispute a citation it has the same affect as... A final order Which is the maximum criminal penalty that a court should impose for a 2nd degree misdemeanor A $500 fine and/or 60 days of jail time Who has the right to file a complaint against a licensee with the DBPR Anyone Which punishment would FREC likely imposed for a first offense against a broker found guilty of a minor violation I notice of noncompliance What is the maximum number of years that Frank may suspend a real estate license 10 For multiple claims against a licensee what is the maximum reimbursement for the Florida real estate recovery fund 150,000 The Florida real estate recovery fund... Is funded from licensing fees 48