Section 2 Flashcards

Section 2 Flashcards Which person would the FREC define as a Florida Resident?1) Mary moved to Montana a year ago, but she still owns property in Florida.2) Steve has been taking care of his mother for 3 months and is unsure if he is staying.3) Tina is living in a rental property in Orlando and has been there for 4 months.4) Mike bought property in south Florida but lives in Georgia.Tina is living in a rental property in Orlando and has been there for 4 months.Florida legislature regulates professions when the unregulated practice can harm the public, the public is not adequately protected by other laws, and less restrictive means of regulation are not available.True Geraldine was denied a license 20 years ago in California to work as a nurse. Which of the following is a true statement regarding Geraldine?1) Geraldine must disclose the denial when applying to the Florida DBPR for a Florida real estate license.2) Geraldine does not have to disclose the denial since it was more than ten years ago.3) Geraldine does not have to disclose the denial since it was not in Florida.4) Geraldine does not have to disclose the denial since it did not involve a real estate related license.Geraldine must disclose the denial when applying to the Florida DBPR for a Florida real estate license.Broker associates act as an intermediary between buyers and sellers and tenants and landlords.FalseIt is the Broker that acts as an intermediary. Sales associates and broker associates work for the broker.Mr. Jones submitted his complete application for licensing through the DBPR. He wondered when he would find out whether he would be approved or denied. Which scenario contains the correct timeline for the DBPR to notify you of errors or omissions and approval or denial?1) The DBPR must notify the applicant within 60 days if there have been any errors or omission and 120 days to approve or deny the application.2) The DBPR must notify the applicant within 15 days if there have been any errors or omission and 30 days to approve or deny the application.3) The DBPR must notify the applicant within 30 days if there have been any errors or omission and 90 days to approve or deny the application.4) The DBPR must notify the applicant within 7 days if there have been any errors or omission and 14 days to approve or deny the application.The DBPR must notify the applicant within 30 days if there have been any errors or omission and 90 days to approve or deny the application.Meredith was learning about real estate in her local community. She found that there were several reasons why regulation was needed and implemented to protect the public. All of the following are reasons why regulation is

imposed except which one?1) Unregulated practice can harm the public2) The public is not adequately protected by other laws3) Less restrictive means of regulation are not available4) More restrictive laws cease to be in force More restrictive laws cease to be in force Mika has held a Georgia real estate license for one year and has lived in Florida for six months. How is Mika able to obtain a Florida real estate license?1) Taking a 40-question

mutual recognition Florida real estate law exam.2) Taking a 63-hour sales associate pre-license course and passing the 100-question sales associate state exam.3) Applying for a new license under the rules of reciprocity.4) Obtain a temporary license for six months.Taking a 63-hour sales associate pre-license course and passing the 100-question sales associate state exam.

Which one of the following activities do not require a license as regulated under Florida Statute 475?1) Managing property leases for single-family homes2) Negotiating the loan terms between a buyer and the bank3) Appraising a property4) Advertising property for sale Negotiating the loan terms between a buyer and the bank If a sales associate fails to take the 45-hour post license course before the first renewal period, what will happen to his or her license?1) It will cease to be in force.2) It will no longer be a valid license and would have to start over.3) It will be inactive.4) It will be re-activated with a 28-hour course.It will no longer be a valid license and would have to start over.Abel has already obtained his real estate license without ever having been in trouble with the law in the past.However, he did have an incident after the fact. He did appear before a judge for his crimes and was sentenced accordingly. What course of action must he take in order to be compliant with the DBPR?1) He must disclose the incident within 30 days, or this may be grounds for suspension.2) He need not report the incident to the DBPR, but rather wait for them to find out about the incident and file the proper complaint against him in order to resolve the issue since self-reporting is not part of a licensee's duties.3) He need not report the incident to the DBPR since he already received his license before the incident occurred.4) He must report the incident to the DBPR, but he can wait until he pays his renewal fees.He must disclose the incident within 30 days, or this may be grounds for suspension.A sales associate qualifies for licensure as a broker, however, chooses to work under the direction of a broker.FalseBroker associate The initial licensing fee can be waived for military veterans and their spouses.True A plea of adjudication withheld is best described by which of the following situations?1) Bob had his criminal record wiped clean.2) Mary didn't admit to or deny a charge of possession of marijuana. Instead, she chose to not contest the charges.3) Tom agreed to probation.4) Sarah was sentenced to jail time for 5 years.Tom agreed to probation.What does Chapter 120 regulate?1) The procedural process of all professions and occupations2) The administrative rules of FREC3) The executive branch of Florida Government4) Real Estate The procedural process of all professions and occupations Florida Administrative Code 61J2 established the Florida Real Estate Commission rules.True To be considered a Florida resident, a person must have resided in Florida continuously for a period of six calendar months or more within the preceding year.Falsecontinuously for a period of four months.