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Gold Coast Real Estate Review questions with correct answers
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Gold Coast Real Estate Review questions with correct answers
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Gold Coast Real Estate Reviewquestions with correct answers
Farming - ANSWER: ➡ Specialized in one geographic area. (Ch1)
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They must be able to analyze financial statements and understand balance sheets - ANSWER:
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➡ Licensees involved in business opportunity brokerages (Ch1)
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Accounting - ANSWER: ➡ Real Estate licensees are expected to be knowledgable in all of the
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following EXCEPT: Marketing, Valuation, Property Transfer, Accounting (Ch1)
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Local Level - ANSWER: ➡ Planning Zoning Property Taxation, building and health codes and
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regulations, and building moratoriums that affect development, play a significant role in the
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cost and desirability of real estate. (Ch1)
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Tract Building - ANSWER: ➡ Is when a developer acquires a large tract of land, records
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subdivision plat map, and uses a model center from which sales can be made. (Ch1)
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Biennial - ANSWER: ➡ License Associates must practice ongoing education on a ___________
o o oo o o o o o o o o o
basis. (Ch2)
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Broker License requirements - ANSWER: ➡ Actively a real estate associate under a brokerage
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for at least 24 months during the preceding 5 years (Ch2)
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Broker Associate - ANSWER: ➡ Has a broker license but continues as employment as a sales
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associate under a broker. (Ch2)
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, Qualifications for Licensure - ANSWER: ➡ Must have a Social Security Number, 18 years of age,
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high school diploma, Must be honest, truthful, trustworthy, and of good character, and have a
o o o o o o o o o o o o o o o
good reputation for fair dealing. Is not required to be a Florida Resident. (Ch2)
o o o o o o o o o o o o o o
Real Estate Application Question - ANSWER: ➡ Requires disclosure of any criminal
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convictions, including felony and mister misdemeanor. (Ch2)
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Application Denial - ANSWER: ➡ You will be notified in writing, the reasons for denial, 21 days
o o o oo o o o o o o o o o o o o
to request a hearing before an administrative law judge in account of the Administrative
o o o o o o o o o o o o o o
Procedure Act. (Ch2)
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Employment Broker Compensation - ANSWER: ➡ A Sales associate or a broker associate
o o o o oo o o o o o o o
cannot receive compensation for performing real estate services from anyone other than his
o o o o o o o o o o o o o
or her employing broker. (Ch2)
o o o o o
Employment by Owner Developer Requirements - ANSWER: ➡ The owner-developer must
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register with the department but does not receive a real estate license. (Ch2)
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Sales Associate 1st Renewal - ANSWER: ➡ 45 Hour post License Course, prior to expiration (2
o o o o o oo o o o o o o o o o
Years). Failure to do so will result in VOID. (Ch2)
o o o o o o o o o o
Broker 1st Renewal - ANSWER: ➡ A broker must complete one or more courses that total 60
o o o o oo o o o o o o o o o o o
hours of post-license education prior to the expiration date of his or her initial license period.
o o o o o o o o o o o o o o o o
(Ch2)
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Attorneys-in-fact - ANSWER: ➡ are persons who are granted authority under a power of o o oo o o o o o o o o o o
attorney to act for others in some capacity, such as signing documents. (Ch2)
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Void - ANSWER: ➡ A Sales Associate failed to complete the required post-license education
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prior to renewal . The status is. (Ch2)
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