Gold Coast Final Exam 2023 Questions and Answers 100% CorrectGold Coast Final Exam 2023 Questions and Answers 100% CorrectGold Coast Final Exam 2023 Questions and Answers 100% Correct
What is the form you sign that says you will pay the loan back ? - ANSWER-promissory note
What is the post li...
gold coast final exam 2023 questions and answers 100 correct
gold coast final exam 2023 questions and answers
what is the form you sign that says you will pay the loan back answer promissory note
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Gold Coast Final Exam 2023 Questions and Answers 100% Correct
What is the form you sign that says you will pay the loan back ? - ANSWER-promissory note
What is the post licensing grace period after first expiration ? - ANSWER-none
Deposits is a form of... - ANSWER-valuable consideration
Physical land and improvements - 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 - ANSWER-Yes
What is the maximum fine per offense ? - 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 ? - ANSWER-yes.
How many acres in one quarter of a section ? - ANSWER-160
What do you do when there is conflict in who escrow goes to - ANSWER-notify FREC
When do you NOT have to notify FREC about conflict of escrow ? - ANSWER-
contingent on the contract
T/F Grantee and Grantor has to sign the deed - ANSWER-False
What statute has to deal with contracts being in writing ? - ANSWER-Statute of Frauds
T/F A broker can have an office an office in a motorhome - ANSWER-false
Broker deposits $10,000 of personal funds into escrow account, what is he guilty of ? - ANSWER-commingling
What is the best deed from the grantors POV? - ANSWER-Quitclaims Deed
What is the law that states that lenders have to tell you the truth about the interest rate ?
- ANSWER-Truth in Lending
What law puts a time limit on contracts ? - ANSWER-Statute of Limitation
What is the Statute of Limitation on oral contracts ? - ANSWER-4 years What is used when you exceed 80% loan amount, to insure funds? - ANSWER-Private Mortgage Interest (PMI)
The future use that brings in the highest return on land ? - ANSWER-Highest and Best Use
Which entities that would fund a shopping center ? - ANSWER-Life insurance companies
Someone gives you a property to enjoy till you die is what type of estate ? - ANSWER-
life estate
What type of estate reverses back after a life estate ? - ANSWER-reversion estate
Limited representation of a buyer or seller - ANSWER-transaction Broker
Single Agent that represents both seller and buyer ? - ANSWER-dual agency
What is dual agency a violation of ? - ANSWER-violation of F.S 475
The least effective method of the Federal Reserve System ? - 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? - ANSWER-yes
Neighbor bringing the value of a home down - ANSWER-external obsolescence
The government's right to take property to build a school ? - ANSWER-eminent domain
Seller keeps the deposit - ANSWER-liquidated damages
2 main deductions of home owners - ANSWER-mortgage interest and property taxes
What is filed on your behalf once you complete paying you mortgage in lien theory states ? - ANSWER-letter of satisfaction
Sales associate quits before sale closes and request to have commission, but the broker refuses. what can the sales associate do ? - ANSWER-sue the broker
What type of estate is it when 3 people that get involve in investing on a property at different times ? - ANSWER-tenancy in common
What type of lease is it when portion of profit goes to - ANSWER-percentage lease
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