Exam (elaborations)
FL REAL ESTATE CHAPTER 2 Questions And Answers Graded A+ 2024/2025
- Course
- Institution
FL REAL ESTATE CHAPTER 2 Questions And Answers Graded A+ 2024/2025
[Show more]
Content preview
FL REAL ESTATE CHAPTER 21. The Florida Real Estate Commission was first created in what year?
(a) 1932
(b) 1925
(c) 1923
(d) 1919 - ANSYour answer: B
The first Florida Real Estate Commission became created in 1925 to manage and put into
effect the law, streamlining the system by means of casting off the need for court
enforcement.
Reference: Chapter 2, Real Estate License Law, History of the Law
2. What is the cause of the real estate license law?
(a) To guard the general public
(b) To defend licensees
(c) To make clear the law
(d) To furnish licenses - ANSYour answer: A
The reason of the Florida Real Estate License Law, F.S. 475, is to defend the general public.
The DBPR is largely a customer safety business enterprise.
Reference: Chapter 2, Real Estate License Law, Purpose of the Law
3. Why became the Florida Real Estate Commission (FREC, or the Commission) created?
(a) To defend the public
(b) To administer and implement the law
(c) To field licensees
(d) To award expert designations - ANSYour solution: B
The first FREC changed into created in 1925 to manage and put in force the law,
streamlining the process via disposing of the need for court docket enforcement.
Reference: Chapter 2, Real Estate License Law, History of the Law
4. A sales companion failed to finish the desired publish-license education previous to their
renewal deadline. What is the repute of the sales partner's license?
(a) Revoked
(b) Suspended
(c) Involuntarily inactive
(d) Void - ANSYour solution: D
All sales pals, whether actively or inactively licensed, need to entire a 45-hour
publish-licensing direction prior to the expiration date in their preliminary license length.
Failure to complete this required path previous to expiration of the preliminary license will
purpose the license to end up void, and the licensee may be out of business. To hold inside
the real property profession, he or she have to take the 63-hour pre-license direction yet
again and bypass any other kingdom examination.
Reference: Chapter 2, Renewing a Florida Real Estate License, Post-license (First Renewal)
Requirements - Sales Associate First Renewal
, 5. What does the registration of an active income partner with the Department discuss with?
(a) Placing and preserving on record the income accomplice's call and home cope with
(b) Placing and preserving on document the income partner's call, domestic cope with and
commercial enterprise deal with of his or her employing broker
(c) The broking's call and business cope with
(d) Placing and retaining on file the income associate's name, and the business address of
his or her organisation - ANSYour solution: B
Registration is the placing and maintaining on file of the call and cope with of an man or
woman or business.
The Division of Real Estate (DRE, or the Division) continues a registration listing of all
agents, income friends, and corporations that employ licensees engaged within the real
estate business.
Reference: Chapter 2, Licensure and Registration
6. How may additionally an authorized income associate be paid via his or her
owner-developer?
(a) On a profits basis simplest
(b) On a commission foundation handiest
(c) On a fee foundation with out an advantage
(d) On a commission or revenue basis - ANSYour answer: D
A sales accomplice or broking companion hired via an proprietor-developer can carry out
services for repayment handiest in regards to assets belonging to the proprietor-developer.
Compensation consists of something or any provider of cost paid, received, or predicted to
be paid or received. The owner-developer pays the sales companion a fee or a revenue.
Reference: Chapter 2, Employment - Employment by means of an Owner-Developer
7. What are the minimal employment necessities for an authorized income associate to
qualify for a actual property broking's license?
(a) Employed for six months beneath one actively certified broking
(b) Employed for one year below one actively licensed broking
(c) Employed for 24 months under one or extra actively certified agents
(d) Employed for six months underneath one or extra actively certified agents - ANSYour
answer: C
Applicants for a dealer's license have to have been certified beneath one or extra actively
licensed brokers for at the least 24 months throughout the preceding 5 years to qualify for a
Florida actual property broker's license.
Reference: Chapter 2, Obtaining a Florida Real Estate License, License Categories - Broker
8. How many hours of submit-license schooling are required to resume a broking's license?
(a) 14
(b) 30
(c) forty five
(d) 60 - ANSYour answer: D
All brokers, whether active or inactive, ought to entire 60 hours of put up-license schooling in
the course of their initial license period as a dealer. The license of any broker that fails to
finish this requirement will be void.
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 Tutor96. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
72042 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now