45-Hour Post License Study Guide Flashcards

45-Hour Post License Study Guide Flashcards Which of the following statements is true regarding a home inspection?

• Although some reports like a four-point inspection report

or a wind mitigation report might be required by an insurance company, the actual home inspection is not mandatory, but it is recommended.Which of the following is not one of the options a seller has when presented with an offer?

• submit the offer to the Department of Business and

Professional Regulation According to the course, how does a listing agent typically present an offer to the seller?

• in person

Which of the following statements is false about a listing presentation?

• The listing presentation should be held at the licensee's

office.Holding an open house is a great lead-generating activity for sales associates. Which of the following statements is false about open houses?

• Holding open houses should only be done by real estate

sales associates that have at least six months' experience.In a standard purchase and sales contracts, the seller agrees to an upfront amount of funds (either a flat fee or a percentage of the purchase price) to be paid to repairs.Which of the following contracts does the seller NOT agree to pay any money to repairs?

• an 'as is' contract

The for-sale sign is an important aspect of listing a property. Which of the following would typically not be on the for-sale sign?

• The broker's cell phone number

According to the course, there are some inexpensive methods to make a property stand out. Which of the following was NOT one of the inexpensive methods mentioned to make a property stand out?

• Adding new granite counters in the kitchen

Real estate taxes, (property taxes) are $3,500. Closing is to take place on February 4th, with the day of closing belonging to the seller. Using the 365-day method, how would the proration be noted on the closing disclosure.ADebit seller, Credit buyer $335.61 The listing agreement is the contract a broker uses to list a seller's property. Which of the following statements is false regarding the listing agreement?

• If two parties, like a husband and a wife, own a property,

only one signature is required on the listing agreement.Two brokers have decided to meet and discuss setting prices for listings and sales associates. Which applies?

• This is a violation of Anti-Trust Laws.

Creating a business plan is a task that can be done by whom?

• anyone

There are many different brokerage models for a new real estate agent to choose from. Which of the following statements is true about the decision to join a brokerage.

• New real estate agents should interview several different

brokerages before deciding to 'hang' their license.Which of the following is not one of the protected classes in the Fair Housing Act?

• creed

Which of the following statements is true about the 'Wedding List Presentation'?

• The Wedding List Presentation is about a sales

associate's sphere of influence and how to use that sphere of influence to find customers.Which of the following statements is false about a comparative market analysis (CMA)?AA sales associate is permitted to refer to a CMA as an appraisal.Joining a team vs. being a solo agent is an important decision for a new real estate agent. Which of the following statements is false regarding joining a team vs. being a solo agent?

• Joining a team vs. being a solo agent is a decision that

is made by the Florida Real Estate Commission, (FREC).Being professional is an important aspect of being a business owner and operating a successful business.According to the course, which of the following statements is NOT true regarding professionalism?

• It is necessary to have an expensive car to create the

appearance of professionalism.Which of the following statements is true regarding the paying of commissions?

• The broker always receives the commission and then

splits the commission with the sales associate based on their agreement.Which relationship is the presumed relationship in Florida?D. the transaction broker relationship Which of the following is a list of the brokerage relationship options in Florida?

• single agency relationship, transaction brokerage

relationship, and the no brokerage relationship What does the acronym MLS stand for?A. Multiple Listing Service What is it called when a broker persuades an owner to list their property based on the rumor that a protected class is moving into the neighborhood?

• blockbusting

Opening a lockbox is a necessary task for real estate agents to show property. Which of the following statements is NOT true regarding lockboxes?

• Real estate agents are licensed and therefore permitted

to open any lockbox anytime.In the course, a buyer's consultation was discussed in detail. Which of the following is not true regarding the buyer's consultation?

• The buyer's consultation is mandatory and required by

F.S. 475.

Which type of for sale sign did the course recommend ordering?

• reflective signs

According to the course, which of the following is NOT true about staging a property when it is for sale?

• A mentor might assist a new real estate by completing

their continuing education course for them.How many hours is the post license course for sales associates?

• 45

Having a mentor help a new real estate agent for the first listing was discussed in the course. Which of the following was NOT one of the tasks mentioned that a mentor might assist a new real estate in completing?

• A mentor might assist a new real estate by completing

their continuing education course for them.According to the course, when is the best time to complete lead generation tasks that are less desirable?

• first thing in the morning

Which of the following statements is true about establishing an online presence?

• Establishing an online presence is an important task for

all real estate agents and involves the use of social media.Although no specific number of preferred lenders is required, how many lenders did the course recommend

having a relationship with?

• two

Which of the following statements is false regarding myths of a real estate agent?

• All real estate agents make money within the first three

months of being licensed.Photographs of the property being listed are included in the MLS. According to the course, who should take photographs of the property?

• a professional photographer

A sales associate receives a commission split of 70/30. Her brokerage receives 30% and she receives 70%. If the sales price of a house was $500,000 and the house was listed at 6%, how much money does the sales associate receive?

A$21,000

What is it called when a lender denies credit to an individual based on a protected class or the neighborhood they are moving into?

• redlining

The broker in a real estate brokerage office always takes the Asian speaking customers to a subdivision called Orient on the Expressway. What violation is this?

• steering

According to the course, what can software like Canva and Photoshop be used for?

• Canva and Photoshop can be used to create content.

What are the two license renewal dates for real estate licensees with the Department of Business and Professional Regulation, (DBPR)?

• September 30 and March 31

Which of the following is not a closing service of real estate?D.the utility companyBcontractor services Which of the following types of loans would a veteran typically secure?

• a VA loan

Regarding the material defects disclosure, which of the following statements is true?

• Florida is a full disclosure state and therefore requires

sellers to disclose all material defects on their property.According to the course, which of the following is recommended when submitting an offer?

• It is recommended that before submitting an offer via

email to the listing agent, the buyer's agent have one person read their offer to make sure it is a complete offer.What does the acronym CRM stand for?C. CRM stands for Customer Relationship Manager Which of the following statements is true about working with buyers who are not pre-approved?

• Working with buyers who are pre-approved or not

pre-approved is the decision of each individual real estate agent.With a four-point inspection, what are the four points that a home inspector is inspecting?

• the HVAC, the roof, the electrical panel, and the

plumbing Which of the following platforms could a sales associate use to email an invitation to a buyer's seminar?

• Eventbrite

A sales associate receives a commission split of 80/20. Her brokerage receives 20% and she receives 80%. If the sales price of a house was $855,000 and the house was listed at 6%, how much money does the sales associate receive?

C$41,040

Sales associates work under the direction and control of their employers, (either owner- developers or brokers).Which of the following statements is true about a sales associate's employment?

• Sales associates are subcontractors of their employers

and therefore have the authority to operate their business in a manner that most appeals to them.