Gold Coast Real Estate Exam Questions with Complete Answers (Guaranteed Pass)

How long must a broker maintain records/files - Answer-5 years (2 years after court proceeding) Registered with DBPR, at least one room, records kept there, may be in broker's home if zoning permits - Answer-Broker office requirements. Deposit accompanying offer - Answer-Earnest money. Commercial bank, title company having trust powers, credit union, or savings association located in the state of FL - Answer-Broker's escrow account or trust account. Max for broker sales escrow account - Answer-$1,000 How long to fill out Irrevocable consent to service - Answer-60 days Max for broker property management escrow account - Answer-$5,000 Unauthorized control or use of another person's personal funds - Answer-Conversion Broker either cannot or will not produce money or property belonging to another when required - Answer-Failure to account. When must sales associates and broker associates deliver earnest money to broker - Answer-Immediately (no later than end of next business day) When must broker deposit earnest money in escrow trust account - Answer-Immediately (no later than end of the 3rd business day) With escrow dispute, how long does broker have to notify FREC - Answer-15 days. How long does broker have to institute an authorized settlement procedure with escrow dispute - Answer-30 business days? Where does broker's sign need to be - Answer-On or near the entrance to the office? Firm name, broker name, Lic. RE broker - Answer-What's on a broker office sign