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Real Estate Gold Coast Exam Questions And Verified Detailed Answers
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Real Estate Gold Coast Exam Questions AndVerified Detailed Answers
Three areas of expert knowledge needed for all licensees - ANSWER property transfer,
valuation, and marketing (mvp)
What do you have to disclose in application - ANSWER disclose all convictions
what happens when application denied - ANSWER department will notify in writing
applicant will have 21 days from the date to request formal hearing
describe owner developer - ANSWER business of owning buying or developing real
estate
must register w/ the dept but does not obtain a RE license
when to take post license requirements- ANSWER must take course by date on the
license usually have 2 years
45 hr course
describe attorney in fact- ANSWER persons who are granted authority under a power of
attorney to act for others is some capacity
such as signing documents
do not need license
Salaried Employee - ANSWER in an apartment community who work on site rental office
of apartment community in leasing capacity
don't need license
multiple licenses - ANSWER only a broker can have multiple licenses
, broker must show they need it for legitimate business reasons
when do you complete first renewal of license - ANSWER must complete prior to the
expiration date on initial license
powers of the department (DBPR) - ANSWER department may seek (not issue) an
injunction from a court against a licensee for failure to follow a department order.
has power to issue a cease and desist order
whats significant about the chairperson in commission? - ANSWER the executive
powers can be exercise by chairperson acting alone
What's a special agent? - ANSWER authorize under law to act perform a single act
what is principal - ANSWER a customer becomes the principal when in a single agency
relationship
Transaction Broker - ANSWER 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.
What offers do you have to present - ANSWER Must present all offers including oral
offers
what is an exclusive agent - ANSWER Agent for the buyer exclusively or agent for the
seller exclusively
any attempt to represent both parties would create an illegal dual agency
listing contract describe - ANSWER states the terms broker must meet to become
eligible for compensation
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