"The department" refers to which government entity? - correct answers--The
department of business and professional regulation (DBPR)
1. The real estate market is local in nature what does that mean? - correct answers--
Information about real estate can best be found through local sources, which...
Gold Coast School Real Estate Questions Ch.1 -19 "The department" refers to which government entity? - correct answers --The department of business and professional regulation (DBPR) 1. The real estate market is local in nature what does that mean? - correct answers --
Information about real estate can best be found through local sources, which makes the real estate market local in nature 2. You would expect a real estate licensee to perform all of the following activities, EXCEPT: A. Providing expert knowledge about construction methods and materials B. Providing expert knowledge to members of the public in the performance of specified services of real estate C. Following up with customers and clients after a transaction has been completed D. Acting as an intermediary, or agent, between two or more people in the negotiation of the sale, purchase, or lease of real estate - correct answers --A. Providing expert knowledge about construction methods and materials 3. A real estate licensee is expec ted to have expert knowledge in what three areas? A. Valuation, marketing, and property transfer B. Mortgages, property taxes, and homeowners' insurance policies C. Residential real estate, commercial real estate, and surveys D. Area schools, local crime rates, and proximity to potential employers - correct answers --A. Valuation, marketing, and property transfer 4. What is a comparative market analysis? A. A comparison of assessed values in the same neighborhood B. A value estimate based on recent sales of identical properties in the same neighborhood C. A value estimate based in recent sales of similar properties in the same neighborhood D. An appraisal of the value of a property - correct answers --C. A value es timate based in recent sales of similar properties in the same neighborhood 5. Which type of valuation must be performed in accordance with the Uniform Standards of Professional Appraisal Practice (USPAP) A. Appraisal in a federally -related transaction B. Broker price opinion (BPO) C. Comparative market analysis (CMA) D. None of the above - correct answers --A. Appraisal in a federally -related transaction 6. Many real estate licensees engage in "farming". Which of the following best describes what that mea ns? A. They conduct open houses on weekends B. They use marketing vehicles such as direct mailing and advertisements in real estate magazines C. They concentrate on the sale of agricultural properties D. They concentrate on one type of property or in a pa rticular neighborhood - correct answers --D. They concentrate on one type of property or in a particular neighborhood A broker who lists a home for sale has which type of agency relationship with the owner of the home? A. Universal agent B.Subagent C. Gen eral agent D. Special agent - correct answers --D. Special agent A Civil court imposes what type of fine as a result of a measurable loss? A. Punitive damages B. Statutory damages C. Compensatory damages D. Civil damages - correct answers --C. Compensato ry damages A civil court imposes what type of penalty to punish a party whose action causes a lawsuit? A. Punitive damages B.Civil damages C. Criminal damages D. Personal damages - correct answers --A. Punitive damages A licensee provided rental list information for a fee to a prospective tenant. If the information provided was materially inaccurate about available Rental property, what recourse does the prospective tenant have? A. The prospective tenant can sue the lice nsee for damages in civil court B. The prospective tenant has no recourse if the licensee can demonstrate that he or she did not intentionally mislead the tenant C. The prospective tenant can demand a refund of 75% of the fee within 30 days of the date o f the contract with the licensee D. The prospective tenant can demand a full refund of the fee within 30 days of the date of the contact with the licensee - correct answers --D. The prospective tenant can demand a full refund of the fee within 30 days of t he date of the contact with the licensee A Sales associate who is employed by a broker has which type of agency relationship with the broker? A. Subagent B. General agent C. Special agent D. Universal agent - correct answers --B. General agent Accordin g to F.A.C. 61J2 -26.002, which of the following persons would qualify for Florida residency? A. A person who lives in NYC and has stayed in The Breakers in Palm Beach, Florida for three continuous months in the past winter and in various other hotels in Pa lm Beach for a total of two months at other times in the past year B. A person who owns homes in Ocala and Melbourne Beach, Florida and has lived in his primary residency in Georgia for 9 oof the past 12 months C. A person from Texas who is living in an apartment in Pensacola, Florida on a 3 month temporary work assignment D. A person who spends summers in Michigan and lives in a motor home in an RV park in Vero Beach, Florida from November 1 through March 31 each year - correct answers -
-D. A person who s pends summers in Michigan and lives in a motor home in an RV park in Vero Beach, Florida from November 1 through March 31 each year According to F.S. 475, all of the following transactions are considered residential transactions, EXCEPT: A. A lease on a u nit in a duplex, with an option to purchase the unit B. The sale of a 10 -unit apartment building C. The sale of an eight -acre strawberry farm D. The sale of a lot that is zoned for a single -family home - correct answers --B. The sale of a 10 -unit apartment building According to the Brokerage Relationship Disclosure Act, how long must a licensee keep copies of disclosure documents for written res idential sales contracts? A. Indefinitely B. Five years from the date of execution, whether the transaction closes or fails to close C. Five years from the date of execution, but only if the transaction closes D. Two years from the date of execution, wh ether the transaction closes or fails to close - correct answers --B. Five years from the date of execution, whether the transaction closes or fails to close After you renew your license for the first time, how frequently must you continue to renew it? A. Every 2 years, but every 4 years if i have a four -year degree in real estate B. Every three years C. Every four years D. Every two years - correct answers --D. Every two years All of the following are circumstances under which a real estate license must be reissued, EXCEPT: A. The license is lost or destroyed B. The licensee's address is changed C. The licensee's name is changed
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