Florida Real Estate Exam<\/p>\n\n\n\n
Owners that buy income properties as investments and depend on professionals to manage them
Absentee Owners<\/p>\n\n\n\n
a Value estimated based on resent sales of similar properties in the same neighborhood, not an appraisal
CMA -Comparative Market Analysis\u2026<\/p>\n\n\n\n
A contractor is employed by an owner of land to build on that land to the owner’s specifications
Custom Building<\/p>\n\n\n\n
When a contractor builds on his own land with the hope of locating a purchaser after construction has been completed
Speculative building<\/p>\n\n\n\n
A developer that acquires a large that aquires a large tract of land and builds a model center from which sales may be made
tract building<\/p>\n\n\n\n
Property management has grown as a service of real estate primarily bc of an increase of __<\/em><\/strong><\/em> The category of construction that applies when a property owner employs a contractor to build on his or her lot is called________ _<\/strong><\/em><\/strong> A Real Estate appraiser’s fee for professional service is based on: A developer contracts to build a home on a buyer’s lot to the buyer’s specifications. This is an example of which type of building: A Florida Real Estate lisence is required when anyone performs a service is specified under _<\/em><\/strong> has been defined to include anything or any service of Value paid, recieved or expected to be paid or recieved. The postlicense educational course for sales associate consists of __<\/em><\/strong> hours The continuing education requirement consists of __<\/strong> hours Florida Real estate sales associates that desire to become brokers must wait _<\/em><\/strong><\/em> before taking the state exam. A tenant in an apartment complex may recieve up to __<\/strong> for refferal of a new tenant for the same complex. education must be completed during the initial sales associates’s license period. Owner-employers of licensed real estate sales associates are allowed to pay them: To qualify for a real estate broker’s license, an applicant must have been employed for a minimum of: How many hours of postlicense education are required to renew a brokers license? How long can an voluntary inactive licencee remain in that lisence status? The agreement the state of Florida has w\/ some other states that recognises the similarity in education and experience required of licencees is called:<\/p>\n\n\n\n a.reciprocity A plumber has been appointed by a court to appraise a small business. The plumber\u2026\u2026.<\/p>\n\n\n\n a. is in violation of F.S. 475 A Georgia Auctioneer was asked by a local real estate broker to auction a small motel in Jacksonville. The auction did not result in a sale. The Florida broker paid the auctioneer for out-of-pocket expenses, but did not pay a commission. It would be correct to say that the:<\/p>\n\n\n\n a. Georgia Autioneer violated the license law The Commission’s ability to impose disciplinary actions against licensees is known as _ __<\/em><\/strong><\/em><\/strong> power The rule-making authority of the FREC is called _ __<\/em><\/strong><\/em><\/strong> power Members of the Florida Real estate Commission may serve no more than _<\/strong> consecutive terms A licensee that fails to renew when required to do so will have his or her license placed on _<\/em><\/strong><\/em> Licensees that are members of the armed forces have all fees, dues and other requirements waived during their military service and for _<\/strong> months after returning to civilian life The division of Real Estate is an administrative part of the department of:<\/p>\n\n\n\n a. State which department issues real estate licenses?<\/p>\n\n\n\n a. state Which information supplied by an applicant is Public Record?<\/p>\n\n\n\n a. financial Information The Florida Real Estate Commission held a meeting for the purpose of passing a new rule. This is an exercise of which Commission power?<\/p>\n\n\n\n a. executive When is a request for the renewal of a license effective?<\/p>\n\n\n\n a. when recieved by the department A real estate license expires<\/p>\n\n\n\n a. on the date shown on the license A sales associate failed to complete required postlicense education prior to expiration of the license period. What is the status of license?<\/p>\n\n\n\n a. active one or more sales associates, each titled “designated sale associate’ may be designated to act as agents for the seller, and one or more may be designated to act as agents of the _<\/em><\/strong> What federal law that makes illegal the discussion or establishment of a uniform price or fee for services in any industry? No fixed fees Your allowed Compensation from your Broker True or False You can not sue a buyer or seller only your broker? True or False A sales associate is a _<\/em><\/strong> of the brokers’s principal. Before showing a property, allowing a buyer to sign an offer to buy or seller to sign a leasing agreement, a licensee must provide the party with a written notice. A member of the public may select from one of 3 options when working with a broker, which are?<\/p>\n\n\n\n
Absentee Ownership<\/p>\n\n\n\n
Custom Building<\/p>\n\n\n\n
a. a percentage of the property’s gross income
b. a percentage of the fair market value
c. the time and difficulty of the appraisal
d. a percentage of property’s sales
C. the time and difficulty of the appraisal<\/p>\n\n\n\n
a. tract
b. custom
c. speculative
d. subdivision
b. custom<\/p>\n\n\n\n
F.S. 475 when all the following conditions are simultaneously present, unless that individual is otherwise exempt under the law:<\/p>\n\n\n\n\n
Compensation<\/p>\n\n\n\n
45<\/p>\n\n\n\n
14<\/p>\n\n\n\n
one year<\/p>\n\n\n\n
$50<\/p>\n\n\n\n
Post Licensing<\/p>\n\n\n\n
a. on a salary basis only
b. on a commision basis only
c. a commission , but not a bonus
d. a commission or salary
d. a commission or salary<\/p>\n\n\n\n
a. 6 months under one actively licensed broker
b. 12 months under one actively licensed broker
c. 12 months under 1 or more actively licensed brokers
d. 6 months under 1 or more actively lisenced broker
c. 12 months under 1 or more actively licensed brokers<\/p>\n\n\n\n
60 hours<\/p>\n\n\n\n
indefinately<\/p>\n\n\n\n
b. mutual recognition
c. cooperative licensure
d. intrastate licensing
b. mutual recognition<\/p>\n\n\n\n
b. is allowed to charge a commission
c. may do so and be paid a fee
d. must first be licensed under F.S. 475, Part II
c. may do so and be paid a fee<\/p>\n\n\n\n
b. Florida Broker did not violate the license law
c. Florida broker is not subject to discipline by the Florida real estate commision
d. tranaction is perfectly within the license law
a. Georgia Autioneer violated the license law<\/p>\n\n\n\n
quasi – judicial<\/p>\n\n\n\n
quasi – legislative<\/p>\n\n\n\n
2<\/p>\n\n\n\n
involuntary Inactive<\/p>\n\n\n\n
6<\/p>\n\n\n\n
b. Commerce
c. Banking
d. Business and Professional Regulation
d. Business and Professional Regulation<\/p>\n\n\n\n
b. Business and Professional Regulation
c. Revenue
d. Real Estate
b. Business and Professional Regulation<\/p>\n\n\n\n
b. test scores
c. name and address
d. medical information
c. name and address<\/p>\n\n\n\n
b. quasi-legislative
c. quasi-judicial
d. ministerial
b. quasi-legislative<\/p>\n\n\n\n
b. the day following the experation
c. on the date the application is mailed
d. on the date indicated on the license
a. when recieved by the department<\/p>\n\n\n\n
b. every 2 years
c. on the effective date
d. at the end of 1 year
a. on the date shown on the license<\/p>\n\n\n\n
b. voluntary inactive
c. involuntary inactive
d. null and void
d. null and void<\/p>\n\n\n\n
buyer<\/p>\n\n\n\n
Sherman-Clayton Anti-trust Act<\/p>\n\n\n\n
True<\/p>\n\n\n\n
True<\/p>\n\n\n\n
SubAgent<\/p>\n\n\n\n
Broker Relationship Form<\/p>\n\n\n\n