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Final Test Questions (Bob Hogue 2017)/87 Questions and Answers
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Final Test Questions (Bob Hogue 2017)/87 Questions and Answers
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Final Test Questions (Bob Hogue2017)/87 Questions and Answers
Comparative Market Analysis (CMA) - -Marketing tool and may not be
referred to or represented as an appraisal
-Follow UP - -Whats sales associates do for buyers and sellers after the sale
-Which is NOT a category of real estate licenses question? These 3 are - -
Sales Associate; Broker; Broker Associate
-Which does NOT need to be disclosed for Background Check? - -Parking,
Speeding, inspections, or traffic signal violations
-What is required by Mutual Recognition applicants? - -75% or higher
required to pass exam
-How long is a license valid on a real estate application? - -2 years
-Who is exempt from having Real Estate License? - -A person who has been
given POA
-What power does FREC have? (#31) - -Quasi-Judical
-The DBPR may issue a temporary real estate license to which? (#25) - -
Spouse of active duty who transfers to Florida expires after 6 months and is
NOT Renewable
-A person who no longer wants to engage in the real estate business can
voluntarily relinquish or cancel the license, provided there is no investigation
or disciplinary proceeding pending against the license (#79) - -True
Statement
-Broker who qualifies as the broker for more than one business entity? - -
Multiple Licenses
-How should a buyer respond to a for-sale-by-owner? - -Caveat Emptor
( buyer beware)
-How long must Brokers retain Disclosure Documents? - -5 years in a
secured location
-What happens in a non-residential real estate transaction where the buyer
and the seller each have 1 million or more in assets? - -The broker will
, assign two sales associates in such an arrangement and they are called
designated sales associates
-A brokerage relationship b/w a principal (or a customer) and a broker may
be terminated by: (Is a NOT Question on Test) - -Death of a sellers broker or
the seller before the broker finds a ready, willing and able buyer.
Death of the buyers brokers or the buyer before the broker finds a suitable
property for the buyer
Destruction of the property
Bankruptcy of the principal or the customer
-What don't you have to put on an office sign? - -The names of the sales
and brokers associates are not required but the Trade name or Brokers name
is required
-Which of the following is a true statement about Florida Telemarketing? - -
Violators may be fined $10,000 per call
-When a sales associate receives an earnest money deposit what must he
do? - -Give to the broker w/n 24 hours and then the Broker has 3 business
days to put into an escrow account
-With in how many days must a Broker notify the commission about an
EDO? - -10 business days
-Sale a used condo give buyer the docs. After they receive the docs how
many days do they have to cancel? (Test Question #61) - -Answer is 2
Days!!
-What is it called when competing brokers conspire to establish the same
commission? (#76) - -Price Fixing
-Brokers can not pay an unlicensed person a commission but can do what?
(#20) - -Can pay them no more the $50
-What does not need to register as an Real Estate Broker? (#84) - -
Corporation Sole (church)
-What needs to be done when filing a complaint? - -Must be in writing
Must be legally sufficient
-FREC gives suspension request what is it called? - -Stay of enforcement
-Complaint that required refund of money. What cant they do? - -FREC does
not have the authority to order RESTITUTION
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