{"id":118684,"date":"2023-09-05T17:17:44","date_gmt":"2023-09-05T17:17:44","guid":{"rendered":"https:\/\/learnexams.com\/blog\/?p=118684"},"modified":"2023-09-05T17:17:47","modified_gmt":"2023-09-05T17:17:47","slug":"gold-coast-real-estate-exam-bundled-graded-a","status":"publish","type":"post","link":"https:\/\/www.learnexams.com\/blog\/2023\/09\/05\/gold-coast-real-estate-exam-bundled-graded-a\/","title":{"rendered":"Gold Coast Real Estate Exam Bundled (Graded A)"},"content":{"rendered":"\n

** Chapter 5 Gold Coast Real Estate
Homework Questions and Answers
A sales associate licensed with a real estate brokerage corporation can be which of the
following?
(a) An officer
(b) A stockholder
(c) A director
(d) An officer and a director – Answer- (b) A stockholder
Six individuals decide to form a real estate brokerage partnership. All six individuals are
planning to be active in real estate sales. Which statement best applies?
(a) The partnership must be registered with the Commission,
and all six partners must be active real estate brokers.
(b) At least one partner must be licensed as an active
broker.
(c) Only two partners must have a real estate license.
(d) A partnership cannot be formed as a brokerage
business. – Answer- (a) The partnership must be registered with the Commission, and
all six partners must be active real estate brokers.
Which of the following statements is correct regarding a licensed broker associate who
is with a real estate brokerage partnership?
(a) The broker associate may be a member of the
partnership.
(b) The broker associate may make earnest money deposits
with the broker’s permission.
(c) The broker associate must hold an active broker’s
license.
(d) The broker associate may not provide real estate
brokerage services to others. – Answer- (b) The broker associate may make earnest
money deposits with the broker’s permission.
All of the following business formations can register to conduct real estate transactions,
EXCEPT:
(a) Corporation for profit
(b) Not-for-profit corporation
(c) Corporation sole
(d) Limited partnership – Answer- (c) Corporation sole<\/p>\n\n\n\n

If a broker has conflicting demands on money held in escrow, what is the first thing the
broker should do?
(a) Consult with a real estate attorney who is experienced in
handling escrow problems.
(b) Refer the parties to FREC.
(c) Give the escrow money to the closing agent.
(d) Notify the Florida Real Estate Commission in writing. – Answer- (d) Notify the Florida
Real Estate Commission in writing.
If a sales associate receives a post-dated check, which of the following actions is the
most appropriate?
(a) The sales associate should deliver the check to her
employing broker by the end of then next business day.
(b) The sales associate should refuse to submit the offer
without a cashier’s check.
(c) The sales associate should hold the check, and give the
check to her employing broker when it becomes valid.
(d) The sales associate should cash the check, and deposit
the funds into her broker’s escrow account. – Answer- (a) The sales associate should
deliver the check to her employing broker by the end of then next business day.
Which of the following statements regarding an ostensible partnership is correct?
(a) An ostensible partnership is required to file documents
with the Secretary of State.
(b) An ostensible partnership is not a true partnership.
(c) An ostensible partnership cannot be created by real
estate brokers.
(d) An ostensible partnership will not be treated as though
the participants were partners. – Answer- (b) An ostensible partnership is not a true
partnership.
Who has the right to inspect a broker’s escrow account records?
(a) The parties to a real estate transaction
(b) The Department of Business and Professional Regulation
or its authorized representatives
(c) The state Attorney General
(d) A public defender – Answer- (b) The Department of Business and Professional
Regulation or its authorized representatives
All of the following businesses are required to file documents with the state, EXCEPT:
(a) Corporation for profit<\/p>\n\n\n\n

GOLD COAST 2023 PRACTICE EXAMS
QUESTIONS AND ANSWERS
Which statement provides the basic justification for zoning?
A. There must be regulations in place to prevent pollution
B. The government does not want to encourage land development
C. The inappropriate use of one’s property may affect the value of another
D. Professional planners want to control development – Answer- C. The inappropriate
use of one’s property may affect the value of another
What is the rationale behind government planning of real estate development?
A. To manage future real estate growth
B. To encourage more landscaping
C. To limit commercial areas
D. To maintain the character of the community – Answer- A. To manage future real
estate growth
In Florida which entity is primarily responsible for establishing and implementing the
roles, processes, and powers of comprehensive planning and future development?
A. Florida’s governor
B. Local government and planning agencies
C. Regional planning councils
D. State comprehensive planning administrators under the Florida department of
economic opportunity – Answer- B. Local government and planning agencies
Which zoning classification typically includes single-family homes, small family
structures, condominiums, and apartments?
A. Commercial
B. Residential
C. Industrial
D. Special use – Answer- B. Residential
Which statement best describes the master plan?
A. It must be inflexible
B. It is prepared by the state legislator
C. It stops growth
D. It serves as a guide for an area’s future growth – Answer- D. It serves as a guide for
an area’s future growth
Which of the following would a church need in order to build in a residential
neighborhood?
A. Public zoning permit
B. Special exception
C. Variance<\/p>\n\n\n\n

D. Nonconforming use permit – Answer- B. Special exception
What is the purpose of the zoning board of adjustment?
A. To settle monetary claims by property owners
B. To grant variances and special exceptions
C. To develop the comprehensive plan
D. To determine infrastructure requirements – Answer- B. To grant variances and
special exceptions
Which term is used to describe a property use that predates the current zoning
ordinance but is allowed to exist for at least a period of time?
A. Legally conforming
B. Progressive
C. Legally nonconforming
D. Capitalized – Answer- C. Legally nonconforming
Which statement which best describes a Planned Unit Development (PUD)?
A. A PUD offers fewer amenities than are possible with more traditional forms of zoning
B. A PUD impacts the environment to a greater degree than most zoning classifications
C. A PUD prohibits the use of zero lot line development
D. A PUD is also called cluster zoning – Answer- C. A PUD is also called cluster zoning
Which statement is correct with respect to a Development of Regional Impact (DRI)?
A. A DRI is defined as any development that substantially affects health, safety, or
welfare of the citizens of more than one county
B. The state of Florida as no authority concerning guidelines for development or review
of a developments of regional impact
C. The review process for a new DRI is concerned only with residential construction
D. The federal government has no influence on local development – Answer- A. A DRI is
defined as any development that substantially affects health, safety or welfare of
citizens of more than one county
Adequate infrastructure available to support growth and development was mandated by
Florida’s Growth Management Act and is specified in which of the following?
A. DRI reviews
B. Concurrency rules
C. County zoning ordinances
D. Local building codes – Answer- B. Concurrency rules
What is the category of a business that meets payroll expense by using dollars a
generated by persons who live in the immediate vicinity?
A. Service
B. Basic
C. Export
D. Regenerative – Answer- A. Service<\/p>\n\n\n\n

Which of the following would be considered a basic industry when performing an
economic base analysis.
A. Florist shop
B. Fire station
C. University
D. Movie theatre – Answer- C. University
With regard to residential properties located within a flood hazard Zone V, which
statement is correct?
A. Base-elevation requirements can be achieved by using fill dirt
B. The structure use be on elevated construction
C. Flood insurance is always required
D. There is a 1 in 500 percent probability of a flood in any given year – Answer- B. The
structure must be on elevated construction
Which standard or process establishes the minimum standards for design and
construction of buildings or structures?
A. Comprehensive planning
D. DRI reviews
C. Zoning
D. Building codes – Answer- D. Building codes
To which organization is real estate tax most important?
A. The federal government
B. The state government
C. The local government
D. Local nonprofit organizations – Answer- C. The local government
What does the county property appraiser determine?
A. Tax rate
B. Market value
C. Assessed value
D. Just value – Answer- C. Assessed value
Which of the following statements best describes the Greenbelt laws?
A. They limit the assessed value on agricultural land in or near urban areas
B. They help to raise the tax base
C. They provide for the best use of land
D. They prevent land from being used for development – Answer- A. They limit
assessed value on agricultural land in or near urban areas
What discount percentage is given to property owners who pay their real estate tax bill
in November?
A. 1%
B. 2%
C. 3%<\/p>\n\n\n\n

D. 4% – Answer- D. 4%
Which statement would be correct regarding a single homeowner who sold a principal
residence and itemized deductions on his or her federal income tax return?
A. Any capital gain realized from the sale is taxable at a reduced rate
B. All capital gain would be subject to tax at the tax payer’s marginal rate
C. A loss of up to $3,000 on the sale may be deducted from adjusted income
D. Up to $25,000 may be excluded from taxation if the taxpayer had occupied the
residence for at least two of the past five years – Answer- D. Up to $25,000 may be
excluded from taxation if the taxpayer had occupied the residence for at least two of the
past five years
What must am individual do to qualify for a homestead tax exemption?
A. Own the property
B. Own and use the home as a primary residence
C. File for a homestead tax exemption by March 31st
D. Live in their principal residence for the entire year – Answer- B. Own and use the
home as a primary residence
Complete this statement. In Florida, the owner of a homestead property located in
outside of the city limits is required to pay property taxes levied
_______<\/em><\/strong><\/em><\/strong>?
A. On the total assessed value of the property
B. By the nearest city
C. By the county and school board
D. By the state of Florida – Answer- C. By the county and school board
Who can appraise property for purposes of taxation?
A. The county property appraiser
B. The local school board
C. The city in which the property is located
D. Special taxing districts – Answer- A. The county property appraiser
How is 10 mills expressed as a decimal?
A. 1.00
B. .100
C. .010
D. .001 – Answer- C. .010
Special assessments are used to pay for which of the following?
A. School boards
B. Sidewalks, sewers and other public improvements that benefit the property owner
C. City services in excess of operating revenues
D. New public structures, such as sport facilities – Answer- B. Sidewalks, sewers, and
other public improvements that benefit the property owner<\/p>\n\n\n\n

Gold Coast FINAL EXAM STUDY SET for
4\/11
what are the the areas a realtor should be an expert in? – Answer- Marketing
Valuation & Market Conditions
Property Transfer
“MVP”
Does one need to be a resident of the state or a citizen of the U.S. to get a FL real
estate license? – Answer- to get a FL real estate license, you don’t need to be a citizen
What must an applicant for a real estate license do if he has been convicted of a crime?<\/p>\n\n\n\n