Florida Real Estate UPDATED Exam Questions and CORRECT Answers
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Course
Florida real estate
Institution
Florida Real Estate
Florida Real Estate UPDATED Exam
Questions and CORRECT Answers
All active real estate brokers are required to have an ___________ that is registered with the
_________ - CORRECT ANSWER- office; DBPR
_____ may insist that a broker must ________ a branch office whenever ______ decides that
it...
Florida Real Estate UPDATED Exam
Questions and CORRECT Answers
All active real estate brokers are required to have an ___________ that is registered with the
_________ - CORRECT ANSWER- office; DBPR
_____ may insist that a broker must ________ a branch office whenever ______ decides that
it is necessary for the benefit of the ______ - CORRECT ANSWER- FREC; register; FREC;
public
Registrations issued to branch offices are - CORRECT ANSWER- Not transferable
The ______, _____, and _____ of an office determine whether or not it should be ________ -
CORRECT ANSWER- Permanence; use; character of activities; registered
______ real estate brokers must display an official ______ on either the _____ or ____ of the
office entrance - CORRECT ANSWER- Active; sign; exterior or interior
The sign must include the following (4) - CORRECT ANSWER- 1. easily observed/ read
2. name of the firm/trade name
3. 1 active broker's name
4. "licensed real estate broker" or "Lic. Real estate broker"
If the associate's name appears on the sign it must be _____ the name of the __________ and
the license type (_______ or ______) must appear next to each ______'s name - CORRECT
ANSWER- below; active broker; broker associate or sales associate; associate's
If the brokerage entity is a partnership corp, LLC (limited liability company) then the sign
must contain the following: - CORRECT ANSWER- 1. name of firm/ corp/ trade name
2. name of atleast 1 active broker
3. licensed real estate broker or LIC
,Anyone who advertises or claims to be providing real estate services is acting as - CORRECT
ANSWER- a real estate broker, considered broker activity
Teams must provide advertisements under the name of ______ - CORRECT ANSWER- the
BROKERAGE
an advertisement is considered to be a ______________ if it does not clearly reveal the name
of the ________ ____ - CORRECT ANSWER- Blind advertisement; BROKERAGE FIRM
On advertisements, ______ and _____ ________ must be printed exactly as they are
________ with the DBPR - CORRECT ANSWER- first and last names, registered
nicknames are okay as long as they are in between the registered full name. Robert "Bobby"
Jones - CORRECT ANSWER- True
Sales associates may provide their after hours phone number and address on their business
cards - CORRECT ANSWER- True
FREC does ___________ require the phone number or address of the ______ just the
_______ of the brokerage firm. - CORRECT ANSWER- not; firm; name
False advertisement is a - CORRECT ANSWER- Misdemeanor of the second degree
On internet advertisements the _______ of the ________ must be _______, immediately
_______ or _______ the contact info - CORRECT ANSWER- name;brokerage; adjacent;
above; below
Licenses may be fined ______ by ______ for unauthorized use of ______ names. example:
_________` - CORRECT ANSWER- $300; FREC; association; NAR
Licensee selling property "by owner" - CORRECT ANSWER- - A licensee who owns
property and is selling the property "by owner" may place a classified ad
- Licensees are not required to indicate in the ad that they are licensees
- Licensees should disclose to prospective buyers that they are licensed prior to entering into
serious negotiations
, Initiation of a telephone call to encourage ________ and _______ is a _______ -_________ -
CORRECT ANSWER- purchase of a property, investment in goods/services; telephone
solicitation
An escrow deposit is a ______ of _____ or the equivalent delivered to a real estate ______ as
earnest or partial payment in connection with a ________ aka _____ or _____ deposit -
CORRECT ANSWER- sum; money; licensee; real estate transaction; binder deposit' good
faith
An escrow account is an account of _________ _____ by an _______ 3rd party who holds in
trust for others; trust fun - CORRECT ANSWER- deposit of money; uninterested
Trust funds include - CORRECT ANSWER- Cash, checks, money orders, things that can be
converted to cash---- also rent deposits and security deposits (leasing related)
Brokers ________ required to keep earnest money deposits seperate from rental deposits -
CORRECT ANSWER- are NOT
A broker may open an escrow account in a (3) - CORRECT ANSWER- 1. Florida Bank
2.Savings Association
3. Credit Union
Broker ______ be a ________ on the escrow account - CORRECT ANSWER- must;
signatory
Broker ______ renew, sign and date ______ ______ statements - CORRECT ANSWER-
must; monthly reconciliation
Funds may also be held in a ________ or ___________ - CORRECT ANSWER- title
company; attorney's trust account
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