Exam (elaborations)
Florida Real Estate State Exam: Gold Coast Q&A CRAM EXAM 3&4 (Latest 2024)
- Course
- Institution
Florida Real Estate State Exam: Gold Coast Q&A CRAM EXAM 3&4 (Latest 2024)
[Show more]
Content preview
Florida Real Estate State Exam: GoldCoast Q&A CRAM EXAM 3&4 (Latest
2024)
Sales associate, Tim, received a signed contract from a buyer
and ailed it to the seller. The seller agreed to the terms and
the escrow deposit was deposited safely in the brokers
escrow account. Tim has a disagreement with his broker and
quits. The broker refuses to pau a commission since tim was
not in his employ when the contact was actually received and
signed. What should tim to? - Correct Answer ✅Sue the
broker
Who is the principal or employer? - Correct Answer ✅The
one who engages the broker in a single agency relationship
Homowner owen signed an exlusive right of sale listing with
Bob, a registered broker. The listing states that Bob is
employed to find a purchaser and that Owen agrees to pay a
10% commission to Bob or any person, partnership,
Corporation or firm that sells the property, The remainger of
the listing deals with the terms and conditions of the sale and
duration of the listing. While owen was away on vacantion,
Percy made a written offer to urchase the property at the
listed price, terms and conditions. Bob, on behalf of owner
Owen, accepted Percy's offer and signed it for Owen. which
,Florida Real Estate State Exam: Gold
Coast Q&A CRAM EXAM 3&4 (Latest
2024)
statement is correct? - Correct Answer ✅The listing did not
give Bob the right to obligate Owen to Percy's offer.
Sales associate John attends a cocktail party with his friend
Bill to another friend, Jack. It turns out that Jack has a house
for sale, and Bill agrees to purchase it. Sales associate John
makes it clear that he want no commission. Which statement
is correct? - Correct Answer ✅The broker is not entitled to
a commission
A broker, while looking for a deal for his best friend, gets a
listing. The seller must sell because of family emergency.
What should the broker say to his best friend? - Correct
Answer ✅say nothing about the seller, and ask the buyer to
make an offer
If an oral offer is made to a broker on a property the broker
has listed, what should be the broker's response? - Correct
Answer ✅submit the offer to a seller
,Florida Real Estate State Exam: Gold
Coast Q&A CRAM EXAM 3&4 (Latest
2024)
If a broker is aware of a construction lien on apeice of
property, what should he or she do? - Correct Answer ✅Tell
the buyer before going into contact
A broker lists a proeprty for 30,000. The broker learnes of a
new developmetn which will be built beside the listed
propery. The broker purchases the porperty from the seller for
the full lisred price and discloses the fact that he is a licensed
broker. The broker then sells the property to the developer for
50,000 which sttment is correct? - Correct Answer ✅The
broker is guilty of concealment
Which township is immediately west of t1n, r1e - Correct
Answer ✅t1n, r1w
John smith is the broker of ABC realty. He is preparing to open
a branch office. All of the following items are required on the
branch office sign, except - Correct Answer ✅branch office
Broker Jones takes a listing on a condominium from
Mr.Charles, he notified jones that the roof leaks. Jones
, Florida Real Estate State Exam: Gold
Coast Q&A CRAM EXAM 3&4 (Latest
2024)
negotiations the sale of the condominium to smoth withiut
disclosing the leak. Smith, a year later, sells the
condominium for a profit. Which statement applies? - Correct
Answer ✅the broker could be disciplined for concealment
Which of the following limits the actions of brokers? - Correct
Answer ✅law of agency
To help his customers sell their property a morthahe broker
agrees to hold an open house and prepares an offer to
purchase on a standard contract for a fee of 250. Which
statement is correct - Correct Answer ✅He is guilty of a
third degree felony
a brokers principal is away on vacation. The broker received
an offer of 75,999 for his principal's property. Before the
principals returns, theborker receives a second offer of
72,000. What should the broker do? - Correct Answer
✅submit both offers to the principal
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Allivia. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81113 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now