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Real Estate Exam Florida 2024 correctly answered questions
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Real Estate Exam Florida 2024 correctly answered questions
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Real Estate Exam Florida 2024 correctlyanswered questions
Florida Real Estate Commission - 1925 - Created in 1925 to administer and enforce
the laws, streamlining the process by removing necessity for court enforcement.
The Real Estate license law was officially designated Chapter 475 of the Florida
Statues in 1941.
Attorneys in Fact - persons granted authority under a power of attorney to act for
others in some capacity such as signing documents. (can perform service for some
sort of composition without having real estate license)
Continuing Education - Course hours, approved by the NMLS, that must be
completed prior to submitting a renewal application for a mortgage loan
originator license through the NMLS.
Employment by owner employer - Sales or broker associate acts as the employer's
agent. You can perform services by compensation only with regard to the property
belonging to the owner-employer.
Employment by a Broker - A sales or broker associate cannot receive
compensation from anyone but their employing broker. A sales associate and
broker associate can only work for 1 broker at a time.
,Real Estate Exam Florida 2024 correctly
answered questions
Court Appointees - Persons appointed by a court of law to perform services of real
estate. They may do so for a fee or salary but not a commission
Post Licensing Education - Course prior to the expiration date of their initial license
period. All sales associates, including attorneys with a sales associate license
whether active or inactive must complete the 45 hour post licensing
Mutual Recognition - Florida does not have reciprocity with any other state in
regard to real estate licensing. However the state has contractual agreements with
some states recognizing the similarity in the content of their mutual education
and experience requirements for real estate licensing (8 states right now) .
Florida Bar Members - Members of the Florida Bar are exempt from taking the 63
Hour pre licensing class for sales associate. A copy of the membership card in the
Florida Bar must accompany the application to take state examination.
One member of the Florida Real Estate Commission must be a licensed as a
licensed sales associate who has held an active license for how many years
preceding appointment? - 2 years
,Real Estate Exam Florida 2024 correctly
answered questions
Sales associate Ann recently moved from Clearwater, Florida, to Tampa, Florida.
She must: - Notify the DRE of her change in current mailing address WITHIN 10
DAYS of change
A broker has a lien upon the owner's net proceeds from the disposition of
commercial real estate for any commission earned by the broker with respect to
that disposition pursuant to a brokerage agreement. The lien upon the owner's
net proceeds pursuant to this part for a broker's commission is a lien upon which
of the following? - The Sellers proceeds from the sale
Services of real estate do NOT include: - Selling cemetery lots for compensation
Who confirms the appointment of the seven members of the Florida Real Estate
Commission? - The Senate
Any property management firm or any owner of an apartment complex for the act
of paying a finder's fee or referral fee to an unlicensed person who is a tenant in
such apartment complex provided the value of the fee does not exceed how much
per transaction? - $50
, Real Estate Exam Florida 2024 correctly
answered questions
he role of the property manager is best described as which of the following? -
Producing the greatest income for the property owner
A broker who provides limited representation to a buyer, a seller, or both, in a real
estate transaction, but does not represent either in a fiduciary capacity or as a
single agent is referred to as? - Transaction Broker
An auditor shows up at a Real Estate broker's office and demands to see the
brokerage relationship disclosure records. For how many years back must a broker
be able to produce complete disclosure document files? - 5 Years
A sales associate applicant is not required to comply with which requirement? - Be
a bone fide Florida resident
A seller files a complaint with the Department of Business and Professional
Regulation against a real estate agent. An informal hearing is held only if: - The
formally charged Licensee requests it.
Which type of license is needed to sell a cemetery plot? - There is no license
required to sell cemetery plots
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