What is the form you sign that says you will pay
the loan back ? – √Answer>promissory note
-What is the post licensing grace period after first
expiration ? – √Answer>none
-Deposits is a form of… – √Answer>valuable
consideration
-Physical land and improvements – √Answer>real
property
-Is it a violation if a sales associate work for two
brokers Monday-Friday, and Saturday and Sunday
and getting paid commission from both –
√Answer>Yes
-What is the maximum fine per offense ? –
√Answer>$5,000 per fine
-Out of state broker sends a customer, and had no
part in the transaction and requests a referral fee,
should he expect a commission ? – √Answer>yes.
GOLD COAST FINAL
EXAM QUESTIONS AND
ANSWERS GRADED A+
1 / 2
-How many acres in one quarter of a section ? –
√Answer>160
-What do you do when there is conflict in who
escrow goes to – √Answer>notify FREC
-When do you NOT have to notify FREC about
conflict of escrow ? – √Answer>contingent on the
contract
-T/F Grantee and Grantor has to sign the deed –
√Answer>False
-What statute has to deal with contracts being in
writing ? – √Answer>Statute of Frauds
-T/F A broker can have an office an office in a
motorhome – √Answer>false
-Broker deposits $10,000 of personal funds into
escrow account, what is he guilty of ? –
√Answer>commingling
-What is the best deed from the grantors POV? –
√Answer>Quitclaims Deed
-What is the law that states that lenders have to
tell you the truth about the interest rate ? –
√Answer>Truth in Lending