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BOB HOGUE SALES ASSOCIATE EXAM REVIEW QUESTIONS & ANSWERS SOLVED
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BOB HOGUE SALES ASSOCIATE EXAMREVIEW QUESTIONS & ANSWERS
SOLVED
the .product .that .real .estate .licensees .market .is .- .correct .answers .✔✔ .-information
knowledge .of .property .transfer, .knowledge .of .market .conditions, .knowledge .of .how .to .market .real .
estate .or .business
a .competent .licensed .real .estate .professional .must .know .the .economic .and .legal .intricacies .associat
ed .with .transfers .of .- .correct .answers .✔✔ .-
title, .property .taxes, .financing, .and .local .zoning .ordinances
to .be .successful, .licenses .must .know .how .to .- .correct .answers .✔✔ .-
market .real .estate .and .businesses
real .estate .brokerage .- .correct .answers .✔✔ .-
the .business .of .bringing .together .buyers .and .sellers, .owners .and .renters, .and .of .completing .real .est
ate .transactions
5 .sales .specialties .of .real .estate .- .correct .answers .✔✔ .-
residential, .commercial, .industrial, .agricultural, .business
real .estate .professionals .have .found .that .advertising .money .is .more .efficiently .spent .and .produces .
better .outcomes .if .efforts .are .focused .on .a .target .market .- .correct .answers .✔✔ .-
target .marketing .involves .expertise .in .locating .prospects
many .brokers .and .sales .associates .prefer .to .select .one .specific .portion .of .a .city .and .become .an .exp
ert .in .that .particular .portion, .called .- .correct .answers .✔✔ .-farm .area
,property .management .- .correct .answers .✔✔ .-
professional .service .conducted .by .a .person .or .company .hired .to .maintain .and .manage .property .on .
behalf .of .the .property .owners
property .manager .- .correct .answers .✔✔ .-the .property .owners .local .representative
rental .agents .- .correct .answers .✔✔ .-typically .find .a .tenant .for .property .and .collect .a .fee
absentee .owner .- .correct .answers .✔✔ .-
a .property .owner .who .does .not .reside .on .the .property .and .who .often .relies .on .a .professional .prop
erty .manager .to .manage .the .investment
a .property .manager .who .is .paid .by .commission .or .on .a .transactional .basis .must .be .- .correct .answer
s .✔✔ .-licensed .as .an .active .real .estate .broker
CAM .(community .association .manager) .- .correct .answers .✔✔ .-
association .consists .of .10+ .units, .or .has .budget .higher .than .$100,000
appraisal .- .correct .answers .✔✔ .-
process .of .developing .and .communicating .an .opinion .about .a .property's .value
FREAB .(florida .real .estate .appraisal .board) .- .correct .answers .✔✔ .-
regulates .state .certified .and .licensed .appraisers. .federally .related .transaction
USPAP .- .correct .answers .✔✔ .-uniform .standards .of .professional .appraisal .practice
florida .law .requires .appraisers, .real .estate .brokers, .and .sales .associates .to .abide .by .- .correct .answer
s .✔✔ .-USPAP .when .conducting .appraisals .of .real .property.
CMA .- .correct .answers .✔✔ .-
comparative .market .analysis. .sellers .often .ask .real .estate .brokers .and .sales .associates .what .buyers .a
re .likely .to .pay .for .their .property's
BPO .- .correct .answers .✔✔ .-brokers .price .opinion. .a .written .opinion .of .the .value .of .real .property
the .money .you .earn .is .- .correct .answers .✔✔ .-your .brokers
financing .- .correct .answers .✔✔ .-life .blood .of .real .estate. .business .of .providing .funds .that .make .real
.estate .transactions .possible.
counseling .- .correct .answers .✔✔ .-
service .of .analyzing .existing .or .potential .projects .and .providing .advice .to .individuals .and .firms .regar
ding .the .purchase .and .use .of .real .estate .investments
3 .phases .of .development .and .construction .- .correct .answers .✔✔ .-
land .acquisition, .subdividing .and .development, .recording .the .subdivision .plat .map
,subdividing .- .correct .answers .✔✔ .-process .of .converting .parcels .of .land .into .smaller .units .or .lots.
development .- .correct .answers .✔✔ .-improving .raw .land
subdivision .plat .map .- .correct .answers .✔✔ .-
developers .submit .for .new .development .for .review .by .the .gov
dedication .- .correct .answers .✔✔ .-
gift .of .land .by .an .owner. .involves .streets, .sidewalks, .park .areas, .and .other .improvements. .streets .an
d .public .areas .obligates .the .local .government .to .maintain .them.
3 .categories .of .residential .construction .- .correct .answers .✔✔ .-
speculative, .custom .homes, .tract .homes
the .local .government .impacts .the .real .estate .business .through .- .correct .answers .✔✔ .-
property .taxation .and .regulatory .activities
the .state .government .impacts .the .real .estate .business .- .correct .answers .✔✔ .-
when .ownership .to .real .property .is .transferred .or .pledged .as .collateral .for .a .mortgage
the .federal .government .impacts .the .real .estate .business .through .- .correct .answers .✔✔ .-
fiscal .and .monetary .policies
NAR .- .correct .answers .✔✔ .-
national .association .of .realtors. .largest .trade .organization .in .the .world. .promotes .ethics .and .educati
on .in .the .industry. .NAR .realtors .must .complete .3 .hours .of .training .every .4 .years
florida .statute .20 .- .correct .answers .✔✔ .-executive .branch .of .floridas .government
florida .statute .chapter .475 .part .1 .- .correct .answers .✔✔ .-
pertains .to .real .estate .brokerage, .sales .associates, .schools
florida .statute .chapter .475 .part .2 .- .correct .answers .✔✔ .-
pertains .to .real .estate .appraisers .and .sets .forth .requirements .for .licensed .and .certified .appraisers .a
ccording .to .federal .statute. .FREAB .
(florida .real .estate .appraisal .board) .regulates .state .certified, .licensed .and .registered .trainee .appraise
rs
florida .statute .chapter .475 .part .3 .- .correct .answers .✔✔ .-
commercial .real .estate .sales .commision .lien .act .gives .broker .lien .rights .for .earned .commission. .appl
ies .to .commercial .property, .NOT .residential. .Lien .is .only .against .the .onwers .new .proceeds .from .the
.sale .and .does .not .attach .to .the .commercial .real .property.
florida .statute .chapter .475 .part .4 .- .correct .answers .✔✔ .-
the .commercial .real .estate .leasing .commission .lien .act, .gives .broker .lien .rights .for .earned .commissi
on .associated .with .brokerage .agreement .to .lease .commercial .real .estate
, chapter .455 .- .correct .answers .✔✔ .-professions .regulated .by .DBPR .
(dept .business .and .professional .regulation). .discipline .a .real .estate .licensee .who .failed .to .notify .DBP
R .within .30 .days .of .conviction, .finding .of .guilt, .plea, .or .adjudication .of .a .crime
florida .statute .120 .- .correct .answers .✔✔ .-
procedural .process .for .all .governmental .entities .authorized .under .the .florida .constitution.
chapter .61J2 .- .correct .answers .✔✔ .-FREC .(florida .real .estate .commission) .rules
sales .associate .- .correct .answers .✔✔ .-
person .who .performs .real .estate .services .for .compensation .but .who .does .so .under .the .direction, .co
ntrol, .or .management .of .a .broker/owner .developer
broker .- .correct .answers .✔✔ .-
a .person .who .for .another, .and .for .compensation .or .other .consideration .
(or .anticipation .of .compensation .or .other .consideration) .performs .real .estate .services
broker .associate .- .correct .answers .✔✔ .-
a .person .who .holds .a .brokers .license .but .chooses .to .register .and .work .in .real .estate .under .the .dire
ction .of .another .broker.
an .individual .typically .begins .a .real .estate .career .in .Florida .as .- .correct .answers .✔✔ .-
a .licensed .sales .associate. .starts .with .license .as .voluntary .inactive .sales .associate
owner .developer .- .correct .answers .✔✔ .-an .unlicensed .entity .that .sells, .exchanges, .or .leases .its .own
.property
becoming .a .broker .requires .- .correct .answers .✔✔ .-
additional .education, .experience, .and .passing .the .broker .license .exam
license .application .expires: .- .correct .answers .✔✔ .-
2 .years .after .the .date .the .DBPR .receives .the .application
military .veteran .and .spouse .waiver .- .correct .answers .✔✔ .-
DBPR .has .the .authority .to .waive .the .initial .application, .license, .and .unlicensed .activity .fees .for .milit
ary .vets .and .their .spouses .who .apply .for .a .real .estate .license .within .60 .months .after .honorable .disc
harge
background .check .of .criminal .history .- .correct .answers .✔✔ .-
a .withhold .of .adjudication .must .be .disclosed .on .the .application
background .check .and .expungement .- .correct .answers .✔✔ .-
process .by .which .the .record .of .criminal .conviction .is .destroyed .or .sealed .after .expiration .of .time.
when .in .doubt, .always .- .correct .answers .✔✔ .-disclose
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