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Gold Coast End of chapter Questions 1-19 ( 100% verified) graded A+ by experts 2024/2025
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Gold Coast End of chapter Questions 1-19 ( 100% verified) graded A+ by experts 2024/2025
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Gold Coast End of chapter Questions1-19
Which of the following statements is true regarding a mortgage loan originator? - ANSA
mortgage loan originator must have a separate license.
A real estate appraiser's fee for professional service is based on which of the following? -
ANSThe time and difficulty of the appraisal
Which of the following best describes the real estate brokerage business? - ANSService
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? - ANSDedication
All of the following are responsibilities of a property manager, EXCEPT: - ANSPreparing
Leases
What does the term "farming" refer to in real estate? - ANSSpecializing in one geographic
area
Which insurance policies can a real estate licensee offer to the public without additional state
licensing? - ANSNone of the Above
What is the purpose of the National Association of REALTORS®? - ANSPreserve the right of
individuals to own real property through of an exchange of information
What does the designation of REALTOR® signify? - ANSThe 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? - ANSCustom
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? -
ANSProperty taxes, building moratoriums, and zoning
Which of the following best describes licensees who are involved in business opprtunity
brokerage? - ANSThey 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: - ANSAccounting
,Which service provided by real estate licensees requires the most experience and
knowledge? - ANSCounceling
An appraiser, who is registered, licensed, or certified under F.S. 475, Part II, must be utilized
in which of the following? - ANSAll appraisals
In what year was the Florida Real Estate Commission created? - ANS1925
What is the purpose of the real estate license law? - ANSTo protect the public
Why was the Florida Real Estate Commission created? - ANSTo 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? - ANSPlacing 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? - ANSOn 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? - ANSEmployed for 24 months under one or more actively
licensed brokers
How many hours of post-license education are required to renew a broker license? - ANS60
All of the following services require a real estate license, EXCEPT: - ANSMortgaging
All of the following information appears on a Florida real estate license, EXCEPT: - ANSThe
signature of the Governer
What must an applicant for a real estate license do if he or she has been convicted of a
crime? - ANSThe applicant must disclose all convictions on the application
Which condition must exist for an applicant to qualify for a florida real estate license? -
ANSThe applicant must have a high school education or equivalent
Which of the following statements best describes an attorney-in-fact? - ANSAn 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? - ANSAn
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 - ANSIs excempt from continuing education requirements to maintain a
real estate license
, What is a broker associate - ANSA 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? - ANSMutual
recognition
Which of the following statements is true regarding a plumber who has been appointed by a
court to appraise a small business? - ANSThe plumber may do so, and be paid a fee
All of the following individuals are exempt from the real estate license law, EXCEPT: -
ANSFuneral 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? - ANSThe georgia broker violated license law.
The Department of Business and to issue Professional Regulation has the authority all of the
following, EXCEPT: - ANSAn injuction
What is the maximum number of years a member may serve on the Florida Real Estate
Commission? - ANSNo maximum
Which statement is true regarding the secretary of the Department of Business and
Professional Regulation? - ANSThe secretary is appointed by the governer
Which statement is true regarding examination questions and answers? - ANSThey are
confidential
Which of the following entities issues real estate licenses? - ANSThe 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? - ANSInvoluntary
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? - ANSQuasi-legislative
Which of the following statements is true regarding the director of the Division of Real
Estate? - ANSThe director is appointed by the secretary of the department of business and
professional regulation
The Department of Business and Professional Regulation is created by which statute? -
ANSF.S 455
If an applicant for a real estate license provides false information, they commit which of the
following criminal violations? - ANSThird degree felony
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