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GOLD COAST FINAL EXAM 2023 REAL EXAMS GUARANTEED QUESTIONS AND EXPERT VERIFIED ANSWERS

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GOLD COAST FINAL EXAM 2023 REAL EXAMS GUARANTEED QUESTIONS AND EXPERT VERIFIED ANSWERS

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Información del documento

  • 12 de mayo de 2024
  • 5
  • 2023/2024
  • Examen
  • Preguntas y respuestas

Temas

  • gold coast final exam
  • gold coast final exam
  • gold coast final questions and answers
  • gold coast final study guide

Escuela, estudio y materia

  • Gold Coast 45 Hour
  • Gold Coast 45 Hour

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GOLD COAST FINAL EXAM 2023 REAL EXAMS GUARANTEED QUESTIONS AND EXPERT VERIFIED ANSWERS What is the form you sign that says you will pay the loan back ? - CORRECT ANSWER promissory note What is the post licensing grace period after first expiration ? - CORRECT ANSWER none Deposits is a form of... - CORRECT ANSWER valuable consideratio n Physical land and improvements - CORRECT ANSWER real property Is it a violation if a sales associate work for two brokers Monday -Friday, and Saturday and Sunday and getting paid commission from both - CORRECT ANSWER Yes What is the maximum fine pe r offense ? - CORRECT ANSWER $5,000 per fine Out of state broker sends a customer, and had no part in the transaction and requests a referral fee, should he expect a commission ? - CORRECT ANSWER yes. How many acres in one quarter of a section ? - CORRECT ANSWER 160 What do you do when there is conflict in who escrow goes to - CORRECT ANSWER notify FREC When do you NOT have to notify FREC about conflict of escrow ? - CORRECT ANSWER contingent on the contract T/F Grantee and Grantor has to sig n the deed - CORRECT ANSWER False What statute has to deal with contracts being in writing ? - CORRECT ANSWER Statute of Frauds T/F A broker can have an office an office in a motorhome - CORRECT ANSWER false Broker deposits $10,000 of personal fun ds into escrow account, what is he guilty of ? - CORRECT ANSWER commingling What is the best deed from the grantors POV? - CORRECT ANSWER Quitclaims Deed What is the law that states that lenders have to tell you the truth about the interest rate ? - CORRECT ANSWER Truth in Lending What law puts a time limit on contracts ? - CORRECT ANSWER Statute of Limitation What is the Statute of Limitation on oral contracts ? - CORRECT ANSWER 4 years What is used when you exceed 80% loan amount, to insure funds? - CORRECT ANSWER Private Mortgage Interest (PMI) The future use that brings in the highest return on land ? - CORRECT ANSWER Highest and Best Use Which entities that would fund a shopping center ? - CORRECT ANSWER Life insurance companies Someone gives you a property to enjoy till you die is what type of estate ? - CORRECT ANSWER life estate What type of estate reverses back after a life estate ? - CORRECT ANSWER reversion estate Limited representation of a buyer or seller - CORRECT ANSWER transaction Broker Single Agent that represents both seller and buyer ? - CORRECT ANSWER dual agency What is dual agency a violation of ? - CORRECT ANSWER violation of F.S 475 The least effective method of the Federal Reserve System ? - COR RECT ANSWER make changes to discount rate A developer is sending out keys to people to view a home they building, and says if their key fits they are gifted a home, is this promotional give aways legal? - CORRECT ANSWER yes Neighbor bringing the value of a home down - CORRECT ANSWER external obsolescence

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