estate exam in a state with which Florida hold a mutual

Module 2: Lesson 7 Mutual Recognition Agreements Flashcards

How long does a licensee have to notify the Commission of a change in address, or changes to a broker's or school's employee names?10 days (online form, paper form) If seeking a mutual recognition agreement license with Georgia and Mississippi (reciprocity states) what must an applicant do?

• Complete all education requirements2. Fulfill experience

requirements (if applicable)3. Pass the state-mandated real estate exam in a state with which Florida hold a mutual recognition agreement.What is the additional non-resident license requirement for a resident of Alabama or Arkansas?Hold an active broker's or sales associate's license for at least 24 months during the preceding five years What are the requirements of someone seeking Fl licensure from one of the 8 states with mutual recognition agreements?

• 18 years old2. High school diploma or equivalent3. NOT

be a Florida resident4. Be in good standing with home state5. Hold active, valid and current real estate licenses with home state6.. Pass the written Florida-specific real estate law exam. (40 questions worth one point each - must get at least 30 correct) Mutual recognition agreementsAllow persons from other states to use their education and experiencein their home states to obtain non-resident licensure in Florida Additional real estate laws apply to which two mutual recognition agreement states?Alabama and Arkansas If a licensee becomes a non-resident of. Florida what must they do?Notify FREC within 60 days of change in residency and comply with nonresident requirements (FS 475.180(2)(b)) What causes a license to cease to be in force, related to failure to notify the Commission of a change in residency?

• A broker changes his or her business address2. A real

estate school changes its business address3. A sales associate working for a broker or an instructor working for a real estate school changes employers How many states does Florida have mutual recognition agreements with?

Eight: Alabama, Arkansas, Connecticut, Georgia, Illinois,

Mississippi, Nebraska, Rhode Island Does Florida have reciprocity with any other states?No FS 475.180(1) Defines a Florida resident as: 1. Person who has resided in Florida continuously for a period of 4 calendar months or more, within the preceding one year OR2. Person who presently resides in Florida, with the intention to reside continuously in Florida for a period of 4 month or more, commencing on the date that the person began the current period of residence in Florida.