Florida Real Estate Questions and Answers 100% Correct
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Course
Florida Real Estate
Institution
Florida Real Estate
When a developer deeds the streets and easements to the county government for
future maintenance, it is called - ️️dedication.
A broker's license will become void when the first license expires unless the broker has
- ️️completed at least 60 hours of broker post-licensing courses.
A per...
Florida Real Estate
When a developer deeds the streets and easements to the county government for
future maintenance, it is called - ✔️✔️dedication.
A broker's license will become void when the first license expires unless the broker has
- ✔️✔️completed at least 60 hours of broker post-licensing courses.
A person who takes applications for a mortgage loan must - ✔️✔️be licensed as a loan
originator by the Florida Office of Financial Regulation.
Before roadbuilding begins, a developer must submit a document to the local planning
board for approval. The document is called a - ✔️✔️subdivision plat map.
Investors who don't live on the properties they own are - ✔️✔️absentee owners.
Real estate specialists who sell properties close to airports, seaports, and rail sidings
work in which sector of the real estate business? - ✔️✔️Industrial
Brokers who list and sell smaller businesses are - ✔️✔️business opportunity brokers
The field of real estate that requires knowledge of financial statements for investment
properties, traffic counts, and types of nonresidential property financing is -
✔️✔️commercial.
A real estate licensee who works a "farm area" is usually involved in - ✔️✔️residential
sales and listings.
Approximately what percentage of the country's wealth is related to real estate? -
✔️✔️75
When making appraisals, real estate licensees must conform to - ✔️✔️the Uniform
Standards of Professional Appraisal Practice (USPAP).
A sales associate who researches the sale prices of properties that sold will learn -
✔️✔️what the house should appraise for.
When a builder builds a house for a specific customer, it is - ✔️✔️custom building.
,The most common valuation process used by brokers and sales associates is the
preparation of - ✔️✔️a comparative market analysis (CMA).
A bank appraisal must be made by - ✔️✔️a state-certified or licensed appraiser.
A broker who prepares a CMA - ✔️✔️can charge a fee for the service.
The Florida Real Estate Commission is - ✔️✔️a consumer protection agency.
Which part of Chapter 475 establishes the Florida Real Estate Commission? -
✔️✔️Part I
The problem with the Florida Real Estate License law that was passed in 1923 was that
- ✔️✔️it did not establish an enforcement body.
Applicants for a real estate license must have a - ✔️✔️United States Social Security
number.
Which is NOT a part of the 14-hour continuing education requirement for brokers and
sales associates? - ✔️✔️Property management
Which is NOT a service that requires a real estate license? - ✔️✔️Originate mortgages
Broker applicants must have worked under a broker in any state for at least - ✔️✔️two
years.
A man who deals in real property is NOT exempt from having a real estate license if he
- ✔️✔️performs one of the eight services of real estate for another for compensation.
The unlicensed practice of real estate is a - ✔️✔️third degree felony.
The maximum fine that can be levied by the DBPR for each offense is - ✔️✔️$5,000.
Which licensee is qualified to be a broker, but has decided to work under the
supervision of another broker or an owner developer? - ✔️✔️A broker associate
What is the maximum number of days the DBPR has to review the information in an
license application? - ✔️✔️90 days.
"Let the buyer beware" was the public's image of real estate brokers before the state set
up the Florida Real Estate Commission. The Latin term is - ✔️✔️caveat emptor.
, The Department that enforces the law against persons who practice a profession
without having a license is the - ✔️✔️Department of Business and Professional
Regulation (DBPR).
Which is NOT one of the divisions in the Department of Business and Professional
Regulation? - ✔️✔️Division of Internet Operations
The license of a veteran sales associate expired March 31 last year. This year in June,
she wants to renew her license. She must pay a late fee, pay the renewal fee, and
complete a - ✔️✔️28-hour reactivation education course.
With respect to regulation, the legislative intent is that - ✔️✔️professions can be
regulated only to preserve the health, safety, and welfare of the public.
In which case can an inactive sales associate receive a commission? - ✔️✔️In no case
Funds collected by the Real Estate Commission may be used - ✔️✔️for real estate
regulation.
The license renewal dates are on - ✔️✔️March 31 or September 30.
A licensee in good standing who is a member of the Armed Forces is exempt from
renewing the license as long as he or she is a member of the Armed Forces on active
duty and for a period of - ✔️✔️2 years after discharge.
How many members of the real estate commission must have held an active license for
the five years preceding appointment? - ✔️✔️4
In which case will a sales associate's license become void? - ✔️✔️Failed to complete
required post-licensing course
Real estate licensees who change their current address have how many days to notify
the FREC in writing? - ✔️✔️10
A real estate sales associate's license has been involuntary inactive for 15 months.
What must she do to activate the license? - ✔️✔️Take a 28-hour reactivation education
course and pass the final exam.
A sales associate's broker has been disciplined and suspended by the Florida Real
Estate Commission. The status of the sales associate is - ✔️✔️inactive.
The Director of the DRE is appointed by the - ✔️✔️Secretary of the DBPR with the
approval of the FREC.
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