RE Ch2 Quiz
Florida has an agreement with some other states which recognizes the similarity in education and experience requirements for licensees. What is the agreement called?(a) Reciprocity(b) Mutual recognition(c) Cooperative licensure
(d) Intrastate licensing
What is a broker associate?(a) A broker who employs sales associates(b) A sales associate(c) A broker who is employed as a sales associate
(d) A sales associate who is employed as a broker
(c) A broker who is employed as a sales associate
Which statement correctly applies to an actively licensed attorney who is a member in good standing with the Florida Bar?(a) The attorney may charge commissions is connection with real estate activities.
(b) The attorney is exempt from biennial 14-hour c
(b) The attorney is exempt from biennial 14-hour continuing education requirements to maintain a real estate license.
Which individual is exempt from the licensing requirements of Florida Statute 475?
(a) A partner in a real estate partnership that receives compensation in excess of their interest in the partnership for performance of real estate services on behalf of th
(d) An attorney who performs legal duties in connection with a real estate transaction
Which of the following statements best describes an attorney-in-fact?(a) An attorney-in-fact must be a member of the Florida Bar.(b) An attorney-in-fact may be paid a commission for services of real estate.
(c) An attorney-in-fact is authorized by a pow
(c) An attorney-in-fact is authorized by a power of attorney to act for another.
Which condition must exist for an applicant to qualify for a Florida real estate license?(a) The applicant must be a citizen of the United States.(b) The applicant must be a Florida resident.(c) The applicant must be at least 21 years of age.
(d) The a
(d) The applicant must have a high school education or equivalent.
What must an applicant for a real estate license do if he or she has been convicted of a crime?(a) The applicant must disclose the crime only if it was a felony or resulted in jail time.
(b) The applicant need not disclose it on the application unless th
(d) The applicant must disclose all convictions on the application.
10. All of the following information appears on a Florida real estate license, EXCEPT:(a) The Seal of the State of Florida(b) An expiration date(c) The signature of the Governor
(d) The name of the Secretary of the DBPR
(c) The signature of the Governor
All of the following services require a real estate license, EXCEPT: (a) Leasing(b) Mortgaging(c) Buying
(d) Selling
How many hours of post-license education are required to renew a broker's license?(a) 14(b) 30(c) 45
(d) 60
What are the minimum employment requirements for a licensed sales associate to qualify for a real estate broker's license?(a) Employed for 6 months under one actively licensed broker(b) Employed for 12 months under one actively licensed broker
(c) Emplo
(c) Employed for 24 months under one or more actively licensed brokers
How may a licensed sales associate be paid by his or her owner-developer?(a) On a salary basis only(b) On a commission basis only(c) On a commission basis without a bonus
(d) On a commission or salary basis
(d) On a commission or salary basis
What does the registration of an active sales associate with the Department refer to?(a) Placing and keeping on record the sales associate's name and home address
(b) Placing and keeping on record the sales associate's name, home address and business add
(b) Placing and keeping on record the sales associate's name, home address and business address of his or her employing broker
A sales associate failed to complete the required post-license education prior to their renewal deadline. What is the status of the sales associate's license?(a) Revoked(b) Suspended(c) Involuntarily inactive
(d) Void
Why was the Florida Real Estate Commission (FREC, or the Commission) created?(a) To protect the public(b) To administer and enforce the law(c) To discipline licensees
(d) To award professional designations
(b) To administer and enforce the law
What is the purpose of the real estate license law?(a) To protect the public(b) To protect licensees(c) To clarify the law
(d) To grant licenses
(a) To protect the public
The Florida Real Estate Commission was first created in what year? (a) 1932(b) 1925(c) 1923
(d) 1919
(b) 1925- created to administer/enforce the law
- streamlined process by removing the necessity for court enforcement
Which of the following statements is true regarding a plumber who has been appointed by a court to appraise a small business?(a) The plumber is in violation of F.S. 475.(b) The plumber is allowed to charge a commission.
(c) The plumber may do so and be
(c) The plumber may do so and be paid a fee.
All of the following individuals are exempt from the real estate license law, EXCEPT:(a) Employees of a corporation who are paid on a salary basis(b) Partners in a partnership who receive a pro rata share of the profits
(c) Condominium managers who rent
(d) Funeral directors performing duties of real estate for compensation
A Georgia broker with extensive experience in conducting auctions was asked by a local real estate broker to auction a small motel in Jacksonville, Florida. The auction did not result in a sale. The Florida broker paid the Georgia broker for out-of-pocket
(a) The Georgia broker violated the license law.
What are the requirements regarding licensure and registration for an owner-developer who employs one or more real estate sales associates to sell properties belonging to the owner-developer?
(a) The owner-developer must hold a valid real estate license,
(c) The owner-developer does not need a real estate license, but must register with the Department
Blake received her initial sales associate's license on August 23rd, 2018 with an expiration date of March 31st, 2020. If Blake does not complete her 45-hour post-license course by the expiration date, what will the status of her license be?
(a) Suspended
Which of the following individuals is considered an attorney-in-fact?(a) An individual who has successfully completed law school, and passed a state bar exam(b) A paralegal who works on closing real estate transactions
(c) Someone who has been granted p
(c) Someone who has been granted power of attorney
Which statement is correct concerning an applicant whose real estate application was denied by the Department of Business and Professional Regulation?
(a) The denial is final and no appeal may be taken by the applicant. (b) An appeal may be filed with the
(d) The applicant must be notified in writing of the reason for the denial and advised of the right to request a formal hearing.
What term is used to refer to an individual who has obtained a Florida broker license, but chooses to work under another broker in the capacity of a sales associate?(a) Broker(b) Sales associate(c) Broker associate
(d) Owner-developer
A sales associate did not complete their post-licensing requirement by the expiration of the initial license. What grace period will the state grant for the licensee to reinstate the license?(a) 30 days(b) 12 months(c) 24 months
(d) There is no grace p
(d) There is no grace period. The license is void.
An applicant for a real estate license had his/her application denied. All of the following are valid reasons for a denial, EXCEPT? (a) The applicant was previously licensed by the Department and had prior disciplinary history.
(b) The applicant forgot to
(d) The applicant was not a US Citizen.
An active Florida licensee decides to move to North Carolina, but wishes to keep her Florida license active and continue to practice real estate in Florida. Which of the following best describes this situation?
(a) The licensee must be located in Florida
(d) The licensee must notify the Department of her change of address, and continue to comply with all Florida regulations.
A licensed sales associate wishes to work for Broker A during the week, and works in a different town with Broker B on the weekend. Which statement best describes this situation?(a) This is legal if the sales associate has a group license.
(b) This is le
(c) This is a violation of FS 475.
What does A BAR SALE stand for?
AppraisingBuyingAuctioningRentingSellingAdvertisingLeasing
Exchanging
What are the requirements for a license?
18+HS diploma/GEDSS#Good moral character
(doesn't have to live in FL/be US citizen)
- property owner- doesn't have a RE license- must register w/ the Department
- hires licensees on a salary basis to sell their property
- "let the buyer beware"
- no express warranty (agreement by a seller to a buyer to provide repairs/replacements for faulty products)