Florida real estate exam chapter 3 Flashcards

Florida real estate exam chapter 3 Flashcards Sales Associate License RequirementsBe at least 18 years of ageHave high school diploma or GEDComplete and pass the state approved 63 hour Sales Associate Pre-License courseSubmit application to the Division of Real Estate with the appropriate feePass the

state examExceptions to the above:Attorneys with a current

Florida Bar Card4 year Degree in Real Estate Voluntary inactiveChoose not to engage in RE business.Must submit form to DBPR.May activate by notifying DBPR.Must still complete required ed courses.Involuntary inactiveIf a licensee fails to renew an active license or voluntary inactive license before the expire date, (other than the first renewal), license becomes involuntary inactive.Must complete continuing ed to renew within 2 yrs. after 2 yrs, license becomes NULL and VOID. Licensee must start from scratch.Inactive licenseVoluntary inactiveInvoluntary inactive Group licenseSometimes issued to sales assoc and broker assoc. same owner, multiple businesses.Active licenseRequired to engage in RE services. Find an employer and register with the DBPR DBPR department of business and professional regulationAgency in charge of licensing and regulating businesses and professionals in fl.Under he executive branch of the governor.Governed by chapter 120, FS.Investigates consumer complaints.Issues subpoenas when investigating.Issue cease and desist orders, citations.FREC membersAppointed by governor subject to confirmation by state senate.Accountable to the governor.No salary. Only $50 a day for meetings and official business.May serve up to 4 yr staggered terms, NTExceed 2 yrs consecutive terms.Members consist of four active brokers licensed for at least 5 yrs, one active sales assoc active for at least 2 years and 2 consumer members who have never been licensed.DRE division of REPerforms all functions related to the regulation of general RE in Fl.Broker's License RequirementsBe at least 18 years of ageHave high school diploma or GEDComplete and pass the state approved 72 hour Brokers Pre-License courseHold an active Sales Associate license for 24 months out of the past 5 yearsCompleted applicable post license educationSubmit application to the Division of Real Estate with the appropriate feePass the

state examExceptions to the above:4 year Degree in Real

Estate Florida Real Estate Commission(FREC)Regulatory body charged by the fl legislature to protect the general public by regulating RE brokers, brokerage firms, broker associates, sales associates, and RE schools and

instructors. OBJECTIVE: protect the public by ensuring that

RE licensee has minimal degree of competence.

RE regulationLicensing exams: div of professions contracts with

professional testing service for exam services.Current

mailing address: licensee notifies the DBPR of current

mailing address, email address and place of practice. Po

box is acceptable address.License renewal period:

effective date is date the applicant passed license exam.All RE licenses expire on Mar 31 or Sept 30. As close to 24

months without exceeding.License Renewal: after post

license is satisfied, and initial license is renewed, licensee must complete 14 hrs continuing ed during each renewal

period.Armed forces exemption: licensee in good standing

who is member or spouse of member of US armed forces is exempt from renewal provisions during active duty and 6 months after.Multiple licensesA broker who holds more than one Fl brokers license for more than one business entity. Brokers only.

Ineffective licensesInactive: licensee who meets all requirements but chooses

not to work in field; licensee fails to renew license to

expiration (other than first renewal).Suspended: disciplinary

proceeding prevents licensee from working in the field for a maximum of 10 yrs.