Gold Coast Real Estate Final Exam Questions and Answers Latest Update 2024 (Graded) Real Estate Brokerage (Ch. 1) - Answer- A business in which real estate-related
activities are performed under the authority of a licensed real estate broker
Farming (Ch. 1) - Answer- concentrating on one type or ...
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Gold Coast Real Estate Final Exam Study Guide (only contains highlights from Ch's 1, 2,3,4 and some of 11) Real Estate Brokerage (Ch. 1) - Answer- A business in which real estate-related activities are performed under the authority of a licensed real estate broker Farming (Ch. 1) - Answer- concentrating on one type or style of property in one particular area of neighborhood Property Transfer, Valuation & Marketing (Ch. 1) - Answer- areas of expert knowledge that are required for all real estate licensees Residential Transaction (Ch. 1) - Answer- F.S 475 The sale of any improved residential property of 4 units or fewer. Unimproved property intended for 4 units or fewer. Agricultural properties 10 acres or less Tract Building (Ch. 1) - Answer- when a developer acquires a large tract of land, records a subdivision plat map, and uses a model center from which sales may be made Local Level of Government (Ch. 1) - Answer- control planning and zoning, property taxation, building and health code regulations also impose a moratorium or temporary delay for a building project building permits would be held until the situations are corrected Florida Real Estate License Law F.S 475 (Ch. 2) - Answer- the purpose is to protect the public Commission (Ch. 2) - Answer- Florida Real Estate Commission (FREC) Department (Ch. 2) - Answer- Department of Business and Professional Regulation (DBPR) Licensee (Ch. 2) - Answer- any person that has a permit, registration, certificate, or license that's issued by the Department Sales Associate (Ch. 2) - Answer- a person who performs real estate activities while employed by a licensed real estate broker Broker (Ch. 2) - Answer- a person who performs services of real estate for another and receives compensation for those services either directly or indirectly A sales associate who wishes to a broker must: (Ch. 2) - Answer- have been employed under one or more actively licensed brokers for at least 24 months within the previous 5 years Broker Associate (Ch. 2) - Answer- an applicant to become a "broker associate" may chose to continue employment in a sales associate position with current employer after passing the exam but will be registered under a "broker associate" after passing the exam an individual who meets the requirements of a broker but who chooses to work in real estate under the direction (employ) of another broker. An applicant for a Florida real estate license is not required to be a: (Ch. 2) - Answer- resident of Florida or be a citizen of the U.S The question that requires the disclosure of any criminal convictions, including felony or misdemeanor convictions or pleas (other than traffic offenses), regardless of adjudication (going to court) DUI must be disclosed (Ch. 2) - Answer- "Have you ever been convicted of a felony or found guilty of, or entered a plea of "nolo contendere" (no contest) or guilty to, regardless of adjudication ,a crime in any jurisdiction, or are you currently being investigated?" Application Denial (Ch. 2) - Answer- If an application to take the state exam is denied by the Department, the applicant will be notified in writing. The notification will identify the reasons for denial and advise the applicant that he or she has 21 days from the date of receipt to request a formal hearing before an administrative law judge in accordance with F.S. 120, The Administrative Procedure Act Florida real estate license law requires sales associates or broker associates to: (Ch. 2) - Answer- be employed as an agent of either broker or an owner-developer before performing real estate services for compensation. A sales associate may not be directly employed or compensated for real estate services by a member of the public. They may only be compensated by their employing broker or owner developer. Employment by a broker: (Ch. 2) - Answer- a sales associate or broke associate cannot receive compensation for performing real estate services for anyone other than his or her employing broker. A sales associate or broker can work for only (1) broker at a time. Broker are registered and licensed with the Department. Employment by an owner-developer (Ch. 2) - Answer- The owner developer must register with the department but does not receive a real estate license
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