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Gold Coast Test Questions And 100% Correct Answers
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Gold Coast Test Questions And 100% Correct AnswersFarming - ANSWER Many licensees will specialize in one type or style of property or in
one particular neighborhood, a practice called. Finding and specializing in a particular
neighborhood or type of property, referred to as a farm area or target market, is
considered to be one of the best ways to succeed in the real estate business.
Local Level - ANSWER Planning and zoning, property taxation, building and health code
regulations are controlled by local governments. Local government bodies can also
impose a moratorium or temporary delay for a building project. This can be due to
environmental concerns, or ensuring that adequate utilities are in place to support new
housing developments, etc.
Local Level - ANSWER Planning and zoning, property taxation, building and health code
regulations are controlled by local governments. This can be due to environmental
concerns or making sure adequate utilities are in place to support new housing
developments, etc.
Qualifications for a real estate license include: - ANSWER Must have a Social Security
number
Must be at least 18 years of age (the age of majority in Florida)
Must be a high school graduate or its equivalent
Must be of good moral character, trustworthy, and of good repute
Sales associate first renewal. - ANSWER A sales associate must complete a 45-hour
post-license course before the expiration date of his or her initial license period. A sales
associate who fails to complete such requirement shall have his or her license to
become void and the license out of business.
Attorneys-in-fact ANSWER are those persons who are authorized by power of attorney
to act for another in some capacity such as signing documents.
,Against unlicensed persons - ANSWER The Department may also issue a
cease-and-desist order against an unlicensed party, based on a violation of any rule or
law under its administration.
A licensee found guilty - ANSWER may be subject to one or more of the following
disciplinary actions: issuance of a reprimand or administrative fine not to exceed $5,000
for each offense; placement on probation; suspension of license for up to ten years or
permanent revocation.
First renewal of license - ANSWER subsequent to an initial license, licensees must
renew by completing the post-licensing requirements prior to the expiration of the initial
license.
Failure to renewal license will result in - ANSWER null and void license status
Subsequent renewals - ANSWER For all biennial renewal periods following the initial
license, licensees must renew by completing the 14-hour CE requirements.
Failure to renewal a license prior to the expiration, in other than the initial license period
will result in - ANSWER will put the license into involuntary inactive status. The license
can remain in this status for up to two years.
If a brokers license becomes void all the employees under that broker will become -
ANSWER automatically inactive
If a licensees is no longer going to practice real estate - ANSWER They may return their
license to the department where it will be cancelled.
A group license - ANSWER A single real estate license that may be held if the sales
associate or broker associate are employed by one owner-developer with affiliated
organizations which offers real estate services in several geographic areas.
department - ANSWER The Department of Business and Professional Regulation
, commission - ANSWER the Florida Real Estate Commission
Administrative law - ANSWER Statutes may provide for the creation and operation of
administrative agencies to carry out and enforce specific laws. The Department of
Business and Professional Regulation (the Department), created by F.S. 455, and the
Florida Real Estate Commission (the Commission), created by F.S. 475, are exemplary
examples of administrative agencies created by statutes.
Special agent - is empowered under agency law by the principal to do only a specific
act. The scope of authority conferred is determined by the agreement of employment
between principal and agent.
Sales associate - ANSWER is a general agent of the broker and, ipso facto becomes a
subagent of all broker's principals.
Farming - ANSWER Many licensees will focus their attention on one type or style of
property or on one specific neighborhood. Identifying and specializing in a specific
geographic area or property type is generally referred to as a farm area or target
market and is considered one of the best methods available to achieve success in the
real estate business.
Transaction Broker - ANSWER is a broker who provides limited representation to a
buyer, a seller, or both in a real estate transaction but does not represent either in a
fiduciary capacity or as a single agent.
Presenting offers - ANSWER A broker has a duty to transmit any and all offers to the
employer including oral offers or offers made without a binder deposit.
In a single agency relationship. - ANSWER the employer becomes the principal, who
authorizes the broker as agent to perform certain services on his or her behalf.
Referral fees - ANSWER The federal Real Estate Settlement Procedures Act (RESPA)
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