Real
Estate
Continuing
Education
Practice
Questions
45
hours
T/F:
An
initial
real
estate
license
expires
on
the
first
of
two
dates
after
18
months:
March
31
or
September
30
-
ANS
True
T/F:
A
Sales
associate
must
complete
a
60-hour
post-licensing
course
before
the
first
renewal.
-
ANS
False;
45-hour
post-licensing
course
T/F:
A
sales
associate
in
a
brokerage
firm
may
work
as
a
transaction
broker
to
a
buyer
if
another
sales
associate
in
the
same
firm
is
a
single
agent
for
the
seller
-
ANS
False;
If
a
single-agency
relationship
is
established
with
a
residential
seller,
all
licensees
in
that
brokerage
firm
have
single-agent
duties
to
that
seller.
T/F:
A
licensee
is
allowed
to
be
a
dual
agent,
so
long
as
it
is
disclosed
to
the
buyer
and
the
seller.
-
ANS
False;
dual
agency
is
illegal
in
Florida.
T/F:
A
licensee
who
acts
as
a
single
agent
must
give
a
single
agent
disclosure
notice
before
showing
a
duplex
to
a
prospective
buyer.
-
ANS
True
T/F:
A
licensee
who
acts
as
a
transaction
broker
must
give
a
transaction
broker
notice
before
showing
a
house
to
a
prospective
buyer.
-
ANS
False;
A
licensee
need
not
give
a
brokerage
relationship
notice
when
the
licensee
is
acting
as
a
transaction
broker.
T/F:
A
transaction
broker
owes
loyalty
to
her
buyer.
-
ANS
False;
Loyalty
is
a
duty
of
a
single
agent.
A
transaction
broker
provides
limited
representation
to
a
buyer,
a
seller,
or
both
in
a
real
estate
transaction,
but
does
not
represent
either
in
a
fiduciary
capacity.
T/F:
A
transaction
broker
may
tell
a
buyer
if
he
knows
that
the
seller
will
take
less
than
the
asking
price.
-
ANS
False;
The
transaction
broker
may not
reveal
that
the
seller
might
accept
a
price
less
than
the
asking
or
list
price.
T/F:
Only
single
agents
may
call
their
customers
"principals."
-
ANS
True;
only
single
agency
creates
a
fiduciary
relationship.
T/F:
A
single
agent
who
transitions
to
transaction
broker
may
not
disclose
to
another
party
any
information
learned
while
serving
as
a
single
agent.
-
ANS
True
T/F:
Licensees
working
with
no
brokerage
relationship
to
the
customer
owe
the
customer
the
duty
of
confidentiality.
-
ANS
False;
Licensees
working
with
no
brokerage
relationship
owe
only
three
duties
to
the
customer:
•
deal
honestly
and
fairly
•
disclosing
all
known
facts
that
materially
affect
the
value
of
the
residential
real
property
that
are
not
readily
observable
to
the
buyer
•
accounting
for
all
funds
entrusted
to
the
licensee
T/F:
A
single
agent
for
one
party
in
a
transaction
may
decide
to
work
with
the
other
party
with
a
no
brokerage
relationship.
-
ANS
True;
a
single
agent
for
one
part
in
a
transaction
may
decide
to
work
with
the
other
party
as
a
nonrepresentative.
T/F:
Licensees
acting
as
designated
sales
associates
must
give
the
parties
to
the
transaction
a
Single
Agent
Notice
Designated
Sales
Associate
Notice.
-
ANS
False;
Licensees
acting
as
designated
sales
associates
must
give
the
parties
to
the
transaction
a
Designated
Sales
Associate
Notice.
T/F:
Licensees
may
act
as
designated
sales
associates
in
a
residential
transaction.
-
ANS
False;
only
for
nonresidential
transactions
T/F:
A
married
couple
filing
jointly
may
exclude
a
maximum
of
$250,000
of
gain
on
the
sale
of
their
personal
residence
if
the
taxpayers
owned
and
occupied
the
residence
for
at
least
two
of
the
previous
five
years.
-
ANS
False;
a
married
couple
filing
jointly
may
exclude
a
maximum
of
$500,000
of
gain
on
the
sale
of
their
personal
residence.
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