14-Hour Florida Real Estate 2 year renewal Flashcards

14-Hour Florida Real Estate 2 year renewal Flashcards . items included the sale need to be there . b . seller's " stuff " that the buyers don't ' want needs to be c .mechanicals need to be in working order . d . all the above A buyer is purchasing a property where a month - to month tenant resides , and the buyer does not wish to continue renting to the tenant . The licensee working with the buyer

should suggest that the tenant be out of the property :a . on

or before the day of closing .b . 10 days after closing .c . 15 days after closing .d . 30 days after closing .In a mandatory homeowners' association the required

disclosure must be provided by the:a. developer or seller.b.

broker or sales associate.c. mortgage company.d. closing agent.

• developer or seller.

d . called whistleblowing and can be reported internally , externally , to law enforcement , or to a third party

Good ethical practices have to do with :a . honestyb .

competencec . trustworthinessd . all of the above When military personnel are required to move more than 35 miles from the location of the property during active duty , what proof is required to terminate a real estate purchase contract ?In order to terminate real estate purchase contract or rental agreement , the servicemember must provide either a copy of the official military orders or a written verification signed by the servicemember's commanding officer .A licensee was found guilty of misrepresentation and breach of trust . His fine was $ 10,000 . Why was the fine more than $ 5,000 ?The commission can impose a fine up to $ 5,000 per offenseTwo separate offenses would amount to a $ 10,000 fine .Is an HOA disclosure required prior to contract execution for all residential property sales within a HOA Community?If the homeowners association mandates membership , then the HOA disclosure is required prior to contract execution for all residential sales .Who is prohibited from being an officer or director of a real estate corporation A sales associate or broker associate may not be an officer or director of a real estate corporation .a . Company stockWhat the minimum percent a serious investor should be willing to put down on property ?a . 5 %b . 10 %c . 20 %d .30 %

A fiduciary duty is owed by:a. a transaction broker.b. a

single agent.c. all real estate licensees.d. all parties in a real estate transaction.

• a single agent.

c . 2010The law enacted in 1970 requiring financial institutions to assist government agencies in detecting and preventing money laundering is thea . Home Ownership and Equity Protection Actb . Home Mortgage Disclosure Actc . Fraud Enforcement and Recovery Actd . Bank Secrecy Act d . Increase in more expensive housingA stabilization voucher is aa . housing voucher awarded to long - time residents of low - income communities to help them stay when gentrification poses a risk .b . housing voucher system designed to attract mid - to upper income renters to a distressed area .c . voucher system designed to attract businesses to distressed aread . voucher system

designed to reduce real estate taxes of long - time residents living in a distressed area .Broker A has conflicting demands on a security deposit held by her in the escrow account . The tenant says he did not damage the property by putting holes in the wall for pictures and the landlord says the holes never existed and the tenant did it . Broker A disburses the money as set forth

by 83.49 to the landlord . The tenant files a complaint to the DRE for the broker failing to follow the procedure set out in 475.25 ( 1 ) d Florida Statutes . Why is the case dismissed ?Case is dismissed because Chapter 83 controls this matter and as long as Section 83.49 was followed , the requirements of F.S. 475.25 need not be followed .Is it misleading per se for a sales team to have a team name that does not include their last name ? For example

the " Sunshine Realty A - team While it cannot be said that it is a per se violation , in all likeli hood if this issue came before FREC it would be ruled