Within one year of the original examination how many time

Florida Real Estate (Real Estate License Law) Flashcards What is required if a licensee becomes involuntary inactive for 12 months but less than 24 months?the individual is required to complete a 28 hour reactivation course Within one year of the original examination how many time may you retest?a maximum of one timeOtherwise, students failing the end-of-the-course examination must repeat the course prior to being eligible to take the end-of-the-course examination again.What is a passing score of the license exam? 75 points What is the basis for denial of a license? Failure to file the correct application in proper formFailure to pay the appropriate feeFailure to correct the application within the allotted time periodFailure to provide a fingerprint cardFailure to take the state examination within two years of applicationFailure to pass the state examinationBeing investigated and found guilty of a violation that would violate Florida License LawsHaving a poor reputation for fair dealing, evidence of bad character or incompetence in dealing fairly and safely with the public What is the purpose of the FREC?protect the public Who can commission splits be paid to?From broker to brokerBrokers only pay other brokers. They can NEVER pay another broker's salespeople Can students review a recent exam?Yes within two years of the date of the examination and they will have 1 hour to review When does a license become null and void? involuntarily inactive by not renewing their continuing education for more than 2 years What is the purpose for having to disclose of a social security number by an applicant?The purpose of the social security number is to comply with child support payment laws When must a licensee renew their real estate licenses after the initial license period?every two years What must brokers get on there post license exam? a 75% or higher What is required post license for a broker? Two post-license courses are required during the first licensure period as a broker. These courses consist of two, thirty hour courses, which require a written school examif you don't complete thisbroker license becomes null and void How does a license go involuntary inactive? Failure to complete the required 14 hours of CE, re-apply online, or pay the fee prior to expiration What types of businesses are considered real estate brokerages?Sole proprietorCorporation for profitCorporation for non profitLimited Liability CompanyGeneral PartnershipLimited partnershipLimited Liability PartnershipProfessional Limited Liability CompanyDBA - or artificial name What is the Mission of the Department?to ensure that professions and businesses provide quality services for the health, safety and welfare of citizens and

visitors in the great state of Florida

How many days does the DBPR have to approve or deny a properly completed application?90 How does an associate become active?The associate becomes active by finding a broker-employer or an owner-developer How long must you wait to retake and reschedule the brokers final exam?24 hours In order to apply for a real estate license what must a person have before applying?Must be 18 years or olderHave a high school diploma, or its equivalencyMust be honest, truthful, trustworthy, of good character, and have a good reputation for fair dealings Does Florida offer Reciprocity with any other state?No they don't When is registration rather than individual licensing given?When real estate is practiced as a business entity rather than as an individual How long is required for continued education? 14 hours How long is the sales associate pre-license course?63 classroom hours Who are the licenses renewed by?The DBPR in March or September How many times may you be absent in the post license course?10% or less How many hours of instruction are you allowed to miss for pre-license course?up to 8 What is Nolo Contendre?means "I will not contest," a plea in a criminal case in which the defendant does not admit or deny charges.What is Moral Turpitude?Acts or behaviors that gravely violate moral sentiment or accepted moral standards of society and are present in some criminal offenses and not in others.individuals who have committed acts of Moral turpitude* will not be granted a license If a brokers pays a finders fee of over 50 what can happen?A broker can be fined up to $1000 and have a suspended license for 5 years if he pays an unlicensed person anything Is an applicant considered active or inactive when licensing requirements are met?applicant is licensed as an inactive sales associate Who does Caveat Emptor still apply to?still applies to buyers and sellers who conduct their own real estate business without the aid of a professional What is the Division Responsible for?Protects the public by regulating real estate and appraisal licenseesexamination, licensing and regulationverify the integrity of real estate salespersons and brokers by providing investigation and support to areas of complaints by consumers and other professionals as needed If you have attended a 4 year real estate institution do you need to take a post license course?No you are exempt What is prima facie?evidence good and sufficient on its face. Such evidence is sufficient to establish a given factand the license is considered prima facie Who appoints the members of the FREC?appointed by the Governor

What is the testing company hired to handle all the exams?Pearson VUE What other individuals don't need a license? radio, television or cable enterprise which is licensed by the Federal Communications Act of 1934. However, if the sale or purchase involves land, buildings, fixtures and other improvements to the land a broker must be retained for the portion of the transaction which involves the land, buildings, fixtures and all other improvements to the land.Any individual, corporation, partnership, trust, joint venture or other entity involved in selling, exchanging, or leasing its' own property. However, if an agent, employee or independent contractor is paid a commission or other compensation based upon those sales, exchanges, or leases (not salary), he will need a licenseAn owner of one or part of one or more timeshares for the owner's own use who later offers one or more such periods for resaleA person selling or exchanging cemetery plotsUnlicensed partners performing real estate services in connection with property owned by the partnerships, if the profits are distributed in proportion to the ownership interests of the partners How long must the first license period be? at least 18 months and will not exceed 24 months What nice things do military veteran applicants get out of with the application process?waive the initial licensing fee, the initial application fee, and the initial unlicensed activity feea spouse may also be issued a temporary license for 6 months What score must you get on the end of course examination?a 70% What is the FREC?Florida Real Estate Commission What is compensation?anything of value, paid, received, or expected to be paid or received or remuneration for services rendered.Who doesn't need a license?An owner selling his/her own propertyAnyone acting as an Attorney in Fact.An employee of a public utility, rural electric cooperative, a railroad or state or local governmentA full-time graduate student enrolled in a FREC-approved degree program, appraising at a college or university. however Any appraisal report must be issued in the name of the supervising individualAny person, partnership or corporation which for another for compensation rents or advertises for rent transient occupancy; or any public lodging establishment How long is the post license course for a sales associate?45 hours How was real estate conducted in the past? By Caveat emptor: "Let the buyer beware.When will a renewal notice will be sent out? the last known address of the licensee 90 days prior to the expiration date, either March 31 or September 30 What is Reciprocity?the authority to have a license within one state and practice real estate in another state