Florida Real Estate Questions and Answers 100% Correct
0 view 0 purchase
Course
Florida Real Estate
Institution
Florida Real Estate
When a developer deeds the streets and easements to the county government for
future maintenance, it is called - ️️dedication.
A broker's license will become void when the first license expires unless the broker has
- ️️completed at least 60 hours of broker post-licensing courses.
A per...
Florida Real Estate
When a developer deeds the streets and easements to the county government for
future maintenance, it is called - ✔️✔️dedication.
A broker's license will become void when the first license expires unless the broker has
- ✔️✔️completed at least 60 hours of broker post-licensing courses.
A person who takes applications for a mortgage loan must - ✔️✔️be licensed as a loan
originator by the Florida Office of Financial Regulation.
Before roadbuilding begins, a developer must submit a document to the local planning
board for approval. The document is called a - ✔️✔️subdivision plat map.
Investors who don't live on the properties they own are - ✔️✔️absentee owners.
Real estate specialists who sell properties close to airports, seaports, and rail sidings
work in which sector of the real estate business? - ✔️✔️Industrial
Brokers who list and sell smaller businesses are - ✔️✔️business opportunity brokers
The field of real estate that requires knowledge of financial statements for investment
properties, traffic counts, and types of nonresidential property financing is -
✔️✔️commercial.
A real estate licensee who works a "farm area" is usually involved in - ✔️✔️residential
sales and listings.
Approximately what percentage of the country's wealth is related to real estate? -
✔️✔️75
When making appraisals, real estate licensees must conform to - ✔️✔️the Uniform
Standards of Professional Appraisal Practice (USPAP).
A sales associate who researches the sale prices of properties that sold will learn -
✔️✔️what the house should appraise for.
When a builder builds a house for a specific customer, it is - ✔️✔️custom building.
,The most common valuation process used by brokers and sales associates is the
preparation of - ✔️✔️a comparative market analysis (CMA).
A bank appraisal must be made by - ✔️✔️a state-certified or licensed appraiser.
A broker who prepares a CMA - ✔️✔️can charge a fee for the service.
The Florida Real Estate Commission is - ✔️✔️a consumer protection agency.
Which part of Chapter 475 establishes the Florida Real Estate Commission? -
✔️✔️Part I
The problem with the Florida Real Estate License law that was passed in 1923 was that
- ✔️✔️it did not establish an enforcement body.
Applicants for a real estate license must have a - ✔️✔️United States Social Security
number.
Which is NOT a part of the 14-hour continuing education requirement for brokers and
sales associates? - ✔️✔️Property management
Which is NOT a service that requires a real estate license? - ✔️✔️Originate mortgages
Broker applicants must have worked under a broker in any state for at least - ✔️✔️two
years.
A man who deals in real property is NOT exempt from having a real estate license if he
- ✔️✔️performs one of the eight services of real estate for another for compensation.
The unlicensed practice of real estate is a - ✔️✔️third degree felony.
The maximum fine that can be levied by the DBPR for each offense is - ✔️✔️$5,000.
Which licensee is qualified to be a broker, but has decided to work under the
supervision of another broker or an owner developer? - ✔️✔️A broker associate
What is the maximum number of days the DBPR has to review the information in an
license application? - ✔️✔️90 days.
"Let the buyer beware" was the public's image of real estate brokers before the state set
up the Florida Real Estate Commission. The Latin term is - ✔️✔️caveat emptor.
, The Department that enforces the law against persons who practice a profession
without having a license is the - ✔️✔️Department of Business and Professional
Regulation (DBPR).
Which is NOT one of the divisions in the Department of Business and Professional
Regulation? - ✔️✔️Division of Internet Operations
The license of a veteran sales associate expired March 31 last year. This year in June,
she wants to renew her license. She must pay a late fee, pay the renewal fee, and
complete a - ✔️✔️28-hour reactivation education course.
With respect to regulation, the legislative intent is that - ✔️✔️professions can be
regulated only to preserve the health, safety, and welfare of the public.
In which case can an inactive sales associate receive a commission? - ✔️✔️In no case
Funds collected by the Real Estate Commission may be used - ✔️✔️for real estate
regulation.
The license renewal dates are on - ✔️✔️March 31 or September 30.
A licensee in good standing who is a member of the Armed Forces is exempt from
renewing the license as long as he or she is a member of the Armed Forces on active
duty and for a period of - ✔️✔️2 years after discharge.
How many members of the real estate commission must have held an active license for
the five years preceding appointment? - ✔️✔️4
In which case will a sales associate's license become void? - ✔️✔️Failed to complete
required post-licensing course
Real estate licensees who change their current address have how many days to notify
the FREC in writing? - ✔️✔️10
A real estate sales associate's license has been involuntary inactive for 15 months.
What must she do to activate the license? - ✔️✔️Take a 28-hour reactivation education
course and pass the final exam.
A sales associate's broker has been disciplined and suspended by the Florida Real
Estate Commission. The status of the sales associate is - ✔️✔️inactive.
The Director of the DRE is appointed by the - ✔️✔️Secretary of the DBPR with the
approval of the FREC.
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 ACADEMICMATERIALS. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
