CHAPTER 5 GOLD COAST REAL
ESTATE HOMEWORK 2026!!
A sales associate licensed with a real estate brokerage corporation can be which of
the following?
(a) An officer
(b) A stockholder
(c) A director
(d) An officer and a director - ANSWER-(b) A stockholder
Six individuals decide to form a real estate brokerage partnership. All six individuals
are planning to be active in real estate sales. Which statement best applies?
(a) The partnership must be registered with the Commission,
and all six partners must be active real estate brokers.
(b) At least one partner must be licensed as an active
broker.
(c) Only two partners must have a real estate license.
(d) A partnership cannot be formed as a brokerage
business. - ANSWER-(a) The partnership must be registered with the Commission,
and all six partners must be active real estate brokers.
Which of the following statements is correct regarding a licensed broker associate
who is with a real estate brokerage partnership?
(a) The broker associate may be a member of the
partnership.
(b) The broker associate may make earnest money deposits
with the broker's permission.
(c) The broker associate must hold an active broker's
license.
(d) The broker associate may not provide real estate
brokerage services to others. - ANSWER-(b) The broker associate may make
earnest money deposits with the broker's permission.
All of the following business formations can register to conduct real estate
transactions, EXCEPT:
(a) Corporation for profit
(b) Not-for-profit corporation
(c) Corporation sole
(d) Limited partnership - ANSWER-(c) Corporation sole
If a broker has conflicting demands on money held in escrow, what is the first thing
the broker should do?
, (a) Consult with a real estate attorney who is experienced in
handling escrow problems.
(b) Refer the parties to FREC.
(c) Give the escrow money to the closing agent.
(d) Notify the Florida Real Estate Commission in writing. - ANSWER-(d) Notify the
Florida Real Estate Commission in writing.
Which business organization can legally register as a real estate brokerage?
(a) Corporation Sole
(b) General Partnership
(c) Ostensible Partnership
(d) Joint Venture - ANSWER-(b) General Partnership
If a sales associate receives a post-dated check, which of the following actions is the
most appropriate?
(a) The sales associate should deliver the check to her
employing broker by the end of then next business day.
(b) The sales associate should refuse to submit the offer
without a cashier's check.
(c) The sales associate should hold the check, and give the
check to her employing broker when it becomes valid.
(d) The sales associate should cash the check, and deposit
the funds into her broker's escrow account. - ANSWER-(a) The sales associate
should deliver the check to her employing broker by the end of then next business
day.
A business legally formed and registered as Rich Real Estate, Inc. is considered to
be what type of organization?
(a) Joint venture
(b) Limited partnership
(c) General partnership
(d) Corporation - ANSWER-(d) Corporation
Which business structure may be registered to broker real estate?
(a) Trust
(b) Joint venture
(c) Limited partnership
(d) Unincorporated association - ANSWER-(c) Limited partnership
What should a sales associate do if a purchaser wishes to present a post dated
check?
(a) Obtain approval from the seller and then turn the check
over to the broker by close of business on the next
business day.
(b) Check with the broker to make sure the broker agrees
with the payment.
ESTATE HOMEWORK 2026!!
A sales associate licensed with a real estate brokerage corporation can be which of
the following?
(a) An officer
(b) A stockholder
(c) A director
(d) An officer and a director - ANSWER-(b) A stockholder
Six individuals decide to form a real estate brokerage partnership. All six individuals
are planning to be active in real estate sales. Which statement best applies?
(a) The partnership must be registered with the Commission,
and all six partners must be active real estate brokers.
(b) At least one partner must be licensed as an active
broker.
(c) Only two partners must have a real estate license.
(d) A partnership cannot be formed as a brokerage
business. - ANSWER-(a) The partnership must be registered with the Commission,
and all six partners must be active real estate brokers.
Which of the following statements is correct regarding a licensed broker associate
who is with a real estate brokerage partnership?
(a) The broker associate may be a member of the
partnership.
(b) The broker associate may make earnest money deposits
with the broker's permission.
(c) The broker associate must hold an active broker's
license.
(d) The broker associate may not provide real estate
brokerage services to others. - ANSWER-(b) The broker associate may make
earnest money deposits with the broker's permission.
All of the following business formations can register to conduct real estate
transactions, EXCEPT:
(a) Corporation for profit
(b) Not-for-profit corporation
(c) Corporation sole
(d) Limited partnership - ANSWER-(c) Corporation sole
If a broker has conflicting demands on money held in escrow, what is the first thing
the broker should do?
, (a) Consult with a real estate attorney who is experienced in
handling escrow problems.
(b) Refer the parties to FREC.
(c) Give the escrow money to the closing agent.
(d) Notify the Florida Real Estate Commission in writing. - ANSWER-(d) Notify the
Florida Real Estate Commission in writing.
Which business organization can legally register as a real estate brokerage?
(a) Corporation Sole
(b) General Partnership
(c) Ostensible Partnership
(d) Joint Venture - ANSWER-(b) General Partnership
If a sales associate receives a post-dated check, which of the following actions is the
most appropriate?
(a) The sales associate should deliver the check to her
employing broker by the end of then next business day.
(b) The sales associate should refuse to submit the offer
without a cashier's check.
(c) The sales associate should hold the check, and give the
check to her employing broker when it becomes valid.
(d) The sales associate should cash the check, and deposit
the funds into her broker's escrow account. - ANSWER-(a) The sales associate
should deliver the check to her employing broker by the end of then next business
day.
A business legally formed and registered as Rich Real Estate, Inc. is considered to
be what type of organization?
(a) Joint venture
(b) Limited partnership
(c) General partnership
(d) Corporation - ANSWER-(d) Corporation
Which business structure may be registered to broker real estate?
(a) Trust
(b) Joint venture
(c) Limited partnership
(d) Unincorporated association - ANSWER-(c) Limited partnership
What should a sales associate do if a purchaser wishes to present a post dated
check?
(a) Obtain approval from the seller and then turn the check
over to the broker by close of business on the next
business day.
(b) Check with the broker to make sure the broker agrees
with the payment.
