Florida Real Estate UPDATED Exam Questions and CORRECT Answers
1 view 0 purchase
Course
Florida real estate
Institution
Florida Real Estate
Florida Real Estate UPDATED Exam
Questions and CORRECT Answers
All active real estate brokers are required to have an ___________ that is registered with the
_________ - CORRECT ANSWER- office; DBPR
_____ may insist that a broker must ________ a branch office whenever ______ decides that
it...
Florida Real Estate UPDATED Exam
Questions and CORRECT Answers
All active real estate brokers are required to have an ___________ that is registered with the
_________ - CORRECT ANSWER- office; DBPR
_____ may insist that a broker must ________ a branch office whenever ______ decides that
it is necessary for the benefit of the ______ - CORRECT ANSWER- FREC; register; FREC;
public
Registrations issued to branch offices are - CORRECT ANSWER- Not transferable
The ______, _____, and _____ of an office determine whether or not it should be ________ -
CORRECT ANSWER- Permanence; use; character of activities; registered
______ real estate brokers must display an official ______ on either the _____ or ____ of the
office entrance - CORRECT ANSWER- Active; sign; exterior or interior
The sign must include the following (4) - CORRECT ANSWER- 1. easily observed/ read
2. name of the firm/trade name
3. 1 active broker's name
4. "licensed real estate broker" or "Lic. Real estate broker"
If the associate's name appears on the sign it must be _____ the name of the __________ and
the license type (_______ or ______) must appear next to each ______'s name - CORRECT
ANSWER- below; active broker; broker associate or sales associate; associate's
If the brokerage entity is a partnership corp, LLC (limited liability company) then the sign
must contain the following: - CORRECT ANSWER- 1. name of firm/ corp/ trade name
2. name of atleast 1 active broker
3. licensed real estate broker or LIC
,Anyone who advertises or claims to be providing real estate services is acting as - CORRECT
ANSWER- a real estate broker, considered broker activity
Teams must provide advertisements under the name of ______ - CORRECT ANSWER- the
BROKERAGE
an advertisement is considered to be a ______________ if it does not clearly reveal the name
of the ________ ____ - CORRECT ANSWER- Blind advertisement; BROKERAGE FIRM
On advertisements, ______ and _____ ________ must be printed exactly as they are
________ with the DBPR - CORRECT ANSWER- first and last names, registered
nicknames are okay as long as they are in between the registered full name. Robert "Bobby"
Jones - CORRECT ANSWER- True
Sales associates may provide their after hours phone number and address on their business
cards - CORRECT ANSWER- True
FREC does ___________ require the phone number or address of the ______ just the
_______ of the brokerage firm. - CORRECT ANSWER- not; firm; name
False advertisement is a - CORRECT ANSWER- Misdemeanor of the second degree
On internet advertisements the _______ of the ________ must be _______, immediately
_______ or _______ the contact info - CORRECT ANSWER- name;brokerage; adjacent;
above; below
Licenses may be fined ______ by ______ for unauthorized use of ______ names. example:
_________` - CORRECT ANSWER- $300; FREC; association; NAR
Licensee selling property "by owner" - CORRECT ANSWER- - A licensee who owns
property and is selling the property "by owner" may place a classified ad
- Licensees are not required to indicate in the ad that they are licensees
- Licensees should disclose to prospective buyers that they are licensed prior to entering into
serious negotiations
, Initiation of a telephone call to encourage ________ and _______ is a _______ -_________ -
CORRECT ANSWER- purchase of a property, investment in goods/services; telephone
solicitation
An escrow deposit is a ______ of _____ or the equivalent delivered to a real estate ______ as
earnest or partial payment in connection with a ________ aka _____ or _____ deposit -
CORRECT ANSWER- sum; money; licensee; real estate transaction; binder deposit' good
faith
An escrow account is an account of _________ _____ by an _______ 3rd party who holds in
trust for others; trust fun - CORRECT ANSWER- deposit of money; uninterested
Trust funds include - CORRECT ANSWER- Cash, checks, money orders, things that can be
converted to cash---- also rent deposits and security deposits (leasing related)
Brokers ________ required to keep earnest money deposits seperate from rental deposits -
CORRECT ANSWER- are NOT
A broker may open an escrow account in a (3) - CORRECT ANSWER- 1. Florida Bank
2.Savings Association
3. Credit Union
Broker ______ be a ________ on the escrow account - CORRECT ANSWER- must;
signatory
Broker ______ renew, sign and date ______ ______ statements - CORRECT ANSWER-
must; monthly reconciliation
Funds may also be held in a ________ or ___________ - CORRECT ANSWER- title
company; attorney's trust account
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 MGRADES. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
