Gold Coast End of chapter Questions 1-19 With Latest Solutions
6 views 0 purchase
Course
Gold Coast
Institution
Gold Coast
Which of the following statements is true regarding a mortgage loan originator? - Correct Answer A mortgage loan originator must have a separate license.
A real estate appraiser's fee for professional service is based on which of the following? - Correct Answer The time and difficulty of the a...
Gold Coast End of chapter Questions 1-19 With Latest
Solutions
Which of the following statements is true regarding a mortgage loan originator? - Correct Answer A
mortgage loan originator must have a separate license.
A real estate appraiser's fee for professional service is based on which of the following? - Correct Answer
The time and difficulty of the appraisal
Which of the following best describes the real estate brokerage business? - Correct Answer Service
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? - Correct Answer
Dedication
All of the following are responsibilities of a property manager, EXCEPT: - Correct Answer Preparing
Leases
What does the term "farming" refer to in real estate? - Correct Answer Specializing in one geographic
area
Which insurance policies can a real estate licensee offer to the public without additional state licensing?
- Correct Answer None of the Above
What is the purpose of the National Association of REALTORS®? - Correct Answer Preserve the right of
individuals to own real property through of an exchange of information
What does the designation of REALTOR® signify? - Correct Answer The 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? - Correct Answer Custom
,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? - Correct Answer Property taxes,
building moratoriums, and zoning
Which of the following best describes licensees who are involved in business opprtunity brokerage? -
Correct Answer They 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: - Correct
Answer Accounting
Which service provided by real estate licensees requires the most experience and knowledge? - Correct
Answer Counceling
An appraiser, who is registered, licensed, or certified under F.S. 475, Part II, must be utilized in which of
the following? - Correct Answer All appraisals
In what year was the Florida Real Estate Commission created? - Correct Answer 1925
What is the purpose of the real estate license law? - Correct Answer To protect the public
Why was the Florida Real Estate Commission created? - Correct Answer To 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? - Correct Answer Placing 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? - Correct Answer On 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? - Correct Answer Employed for 24 months under one or more actively licensed
brokers
How many hours of post-license education are required to renew a broker license? - Correct Answer 60
All of the following services require a real estate license, EXCEPT: - Correct Answer Mortgaging
All of the following information appears on a Florida real estate license, EXCEPT: - Correct Answer The
signature of the Governer
What must an applicant for a real estate license do if he or she has been convicted of a crime? - Correct
Answer The applicant must disclose all convictions on the application
Which condition must exist for an applicant to qualify for a florida real estate license? - Correct Answer
The applicant must have a high school education or equivalent
Which of the following statements best describes an attorney-in-fact? - Correct Answer An 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? - Correct Answer An
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 - Correct Answer Is excempt from continuing education requirements to maintain a real
estate license
What is a broker associate - Correct Answer A 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? - Correct Answer Mutual recognition
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Victoria108. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.49. You're not tied to anything after your purchase.
