Chapter 61j2 - Study guides, Class notes & Summaries

1 REAL ESTATE FL EXAM 2024/25 REVIEW QUESTIONS AND ANSWERS, RATED A+ A sales associate works under - -the direction of a broker or in some cases an owner developer A licensed appraiser is compensated for an appraisal - -With a flat fee The product/service that all real estate professionals sell is - -their expert knowledge Which area of real estate requires the highest degree of expertise? - -Counseling Which Florida Administrative Code expands upon the statutory provisions of Chapter 475,...

What types of agents can one be in a agency relationship? - ️️Universal General (Sales-Associate) Special Agent What is a brokers price opinion (BPO)? Can a real estate licensees charge for these? - ️️It is the opinion of value of real property, and yes as long as it is not considered an appraisal. If a student fails course pre-licensure exam, how long must one wait until one can retake the exam? How many times can one re-test before having to retake the entire course? - ️️App...

The only active general partner in a real estate partnership did not account properly for his escrowed funds. His license was suspended. All of the licenses of the sales associates in that partnership are A. Suspended B. Canceled C. Placed in involuntary inactive status D. Not affected - Answer- C. Placed in involuntary inactive status A sales associate is selling her own property "by owner." Which statement is TRUE regarding real estate licensees selling property "by owner?" a. T...

Florida Real Estate Exam TEST Questions WITH 100% Correct Answers LATEST UPDATE 2023/2024 Binder deposit shows up as what on closing statement? - ANSWER Credit to buyer Which of the following is true about leverage? - ANSWER Leverage is the use of borrowed funds to purchase assets. Which of the following liens would take priority? - ANSWER A property tax lien In which of the following theories of mortgage lending does the borrower not retain ownership of the property during the loan ...

Joint Ventures - ANSWERSis a temporary form of business arrangement often encountered in real estate business. Trade Names - ANSWERSis a business name other than the legal name of the person doing business. The letters T/A are used to indicate "trading as." Chapter 120, F.S. - ANSWERSAdministrative Procedures Act Chapter 455, F.S. - ANSWERSRegulation of Professional and Occupations Chapter 28, Sections 101-110 - ANSWERSDivision of Administrative Hearings (DOAH Rules), Florida Admin...

Florida Real Estate State Exam Prep Rated A Joint Ventures is a temporary form of business arrangement often encountered in real estate business. Trade Names is a business name other than the legal name of the person doing business. The letters T/A are used to indicate "trading as." Chapter 120, F.S. Administrative Procedures Act Chapter 455, F.S. Regulation of Professional and Occupations Chapter 28, Sections 101-110 Division of Administrative Hearings (DOAH Rules), Florida Ad...

FREC Exam Questions & Answers 2023/2024 Chapter 475 - ANSWER-Real Estate Law 1) Real Estate Brokerage 2) Appraisal 3)Commercial Sales Lien Rights 4) Commercial Leasing Lien Rights Chapter 455 - ANSWER-Regulation of Businesses and Professions. Defines general practices and procedures for DBPR , including the practice of Real Estate FS 120 - ANSWER-Licensing and disciplinary procedures for Real Estate Licensees 61J2 FAC - ANSWER-Rules of the FREC Department of Business and Professio...

Aceable Agent FL Section 2 Exam Questions & Answers 2023/2024 Florida Real Estate Commission (FREC) - ANSWER-quasi-judicial body that administers and enforces license law in FL (makes rules & hears disciplinary actions) Rules: 61J2 of Fl Admin code 61J2 FL Admin code - ANSWER-FREC rules (technically not law) - directions based on Chapter 475 Florida Statute Chapter 475 - ANSWER-FL Real Estate statutes - 4 parts 1. Brokers, Sales associates & schools 2. Appraisers 3. The Commercial R...

Farming - ANSWER Specilizing n one type of property or on one particular neighborhood is a practice referred to as The sale of any improved residential property 4 units or fewer, including condo units, unimproved property intended for 4 units or fewer, agricultural properties 10 acres or less, leases with options to purchase all or airtime of improved property of 4 or fewer res. Units and disposition of business interest in 4 unit bldg - ANSWER A residential transaction is defined as Indus...

A sales associate works underthe direction of a broker or in some cases an owner developer A licensed appraiser is compensated for an appraisalWith a flat fee The product/service that all real estate professionals sell istheir expert knowledge Which area of real estate requires the highest degree of expertise?Counseling Which Florida Administrative Code expands upon the statutory provisions of Chapter 475, Florida Statutes?61J2 After completing the 45-hours post-licensing educatio...