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FL Disciplinary Procedures and the Real Estate Recovery Fund Unit Exam Questions And Answers Latest 2024/ 2025 Graded A+ | 100% Verified!$12.49
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1. How is the Recovery Account funded?: License fees
The recovery account is funded through license fees. As amounts
are paid out, licensees involved in the transaction must repay these
amounts.
2. The Florida Real Estate Recovery Fund has a maximum payout limited to
$50,000 for what?: Each transaction
A maximum payout of $50,000 per transaction is allowed from the
Florida Real Estate Recovery fund, regardless of the number of
consumers or licensees involved.
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, 3. Randolph, a licensee, has received a complaint against him. He'd like to
avoid any type of investigation or hearing. How can he do this?: Voluntarily
give up his license
The only way to avoid disciplinary action or a hearing once a complaint
has been received is to voluntarily give up one's license.
4. The Florida Real Estate Recovery Fund has a maximum payout limited to
$150,000 for what?: Each licensee
A maximum payout of $150,000 per licensee is allowed from the Florida
Real Estate Recovery fund, regardless of the number of consumers or
transactions involved.
5. What is the maximum amount that will be paid out of the Florida Real
Estate Recovery Fund per licensee?: $150,000
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