Goldcoast School of Real Estate Final Exam Study Guide
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Course
2024/2025
Institution
2024/2025
Goldcoast School of Real Estate Final
Exam Study Guide
Involuntarily Inactive - Answer-When the licensee fails to complete the required continuing
education and thereby cannot renew their license.
Multiple Licenses - Answer-Under certain situations, licensees can have more than one
license; A ...
Listing Contract - Answer✔✔-An employment agreement between an owner and broker
defining the duties and rights of both parties. (Unilateral contract)
Referral Fees - Answer✔✔-Members and candidates must disclose to employers and to affected
clients, before entering into any formal agreement for services, any benefits received for the
recommendation of services provided by the member.
Branch Office - Answer✔✔-closed and later reopened in the same location during the same
two-year period, may reissue a license. If moved, new application for registration and payment
of proper fee are required.
Broker Advertising - Answer✔✔-1. no 'blind advertising', must state that it has been placed by a
broker or brokerage firm, not the principal
2. a provisional broker cannot advertise without obtaining the permission of the BIC
3. broker cannot advertise or display a for sale or for rent sign without consent of the owner
that should be given in writing in the listing contract
Personal Transactions - Answer✔✔-Brokers, sale associates and broker associates are entitled to
deal in real property for personal benefit.
Licensees must make clear that they are dealing on their own account and not acting on behalf
of others. Disclosure must take place prior to entering into serious negotiations. The licensee
should also ensure that this disclosure is in writing in the (purchase and sale contract).
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