GOLD COAST FINAL EXAM 2026 REVISION
NOTES AND STRUCTURED OVERVIEW GUIDE
◉ Which of the following cannot be used by the Federal Reserve to
change or control the money supply?
a. Change the discount rate
b. Alter income tax rates
c. Increase or decrease the reserve requirement
d. Buy or sell government notes
Reference: Ch. 13, Federal Reserve System. Answer: Alter income tax
rates
◉ A broker has an exclusive right of sale listing to sell an owner's
property, with no other authority granted. What type of agency does
the broker have with the principal?
a. General agency
b. Special agency
c. Universal agency
d. Trusteeship
,Reference: Ch. 4, Agency Law; Ch. 11, Listing Contracts. Answer:
Special agency
◉ A licensee is being disciplined by the FREC for multiple violations
of F.S. 475. Which penalty may the Commission NOT impose?
a. Revocation
b. Suspension for up to 10 years
c. A fine not to exceed $5,000 per offense
d. Imprisonment not to exceed one year
Reference: Ch. 6, Administrative Penalties, Range of Penalties.
Answer: Imprisonment not to exceed one year
◉ A judgment is awarded against a licensee for $100,000. What is
the maximum the complainant may be compensated from the Real
Estate Recovery Fund?
a. 25%
b. 50%
c. 75%
d. 100%
,Reference: Ch. 6, The Disciplinary Process, Florida Real Estate
Recovery Fund. Answer: 50%
◉ 6. What term is applied to the practice of keeping low-income
people out of a particular neighborhood?
a. Income zoning
b. Exclusionary zoning
c. Nonconforming use
d. Subdivision exception
Reference: Ch. 19, Zoning, Land Use Restrictions, and Building
Codes, Purpose of Zoning. Answer: Exclusionary zoning
◉ 7. Complete this statement. A transaction broker _______________.
a. Owes full disclosure to both parties
b. Owes limited confidentiality to both parties
c. Must be compensated by both parties
d. Cannot work in a nonresidential transaction
, Reference: Ch. 4, Authorized Real Estate Brokerage Relationships,
Transaction Broker. Answer: Owes limited confidentiality to both
parties
◉ 8. Broker Jones committed fraud in a real estate transaction that
involved six investors in a limited partnership. What is the maximum
recovery possible from the Real Estate Recovery Fund for a single
judgment against the broker as a result of this fraudulent activity?
a. $25,000
b. $30,000
c. $50,000
d. $150,000
Reference: Ch. 6, The Disciplinary Process, Florida Real Estate
Recovery Fund. Answer: $50,000
◉ A mortgagor defaulted on their loan payments. The lender
foreclosed on the property. Some states allow the party that was
foreclosed the right to redeem the property following foreclosure.
What is the term used to describe this right?
a. Statutory right of redemption
b. Equitable right of redemption
NOTES AND STRUCTURED OVERVIEW GUIDE
◉ Which of the following cannot be used by the Federal Reserve to
change or control the money supply?
a. Change the discount rate
b. Alter income tax rates
c. Increase or decrease the reserve requirement
d. Buy or sell government notes
Reference: Ch. 13, Federal Reserve System. Answer: Alter income tax
rates
◉ A broker has an exclusive right of sale listing to sell an owner's
property, with no other authority granted. What type of agency does
the broker have with the principal?
a. General agency
b. Special agency
c. Universal agency
d. Trusteeship
,Reference: Ch. 4, Agency Law; Ch. 11, Listing Contracts. Answer:
Special agency
◉ A licensee is being disciplined by the FREC for multiple violations
of F.S. 475. Which penalty may the Commission NOT impose?
a. Revocation
b. Suspension for up to 10 years
c. A fine not to exceed $5,000 per offense
d. Imprisonment not to exceed one year
Reference: Ch. 6, Administrative Penalties, Range of Penalties.
Answer: Imprisonment not to exceed one year
◉ A judgment is awarded against a licensee for $100,000. What is
the maximum the complainant may be compensated from the Real
Estate Recovery Fund?
a. 25%
b. 50%
c. 75%
d. 100%
,Reference: Ch. 6, The Disciplinary Process, Florida Real Estate
Recovery Fund. Answer: 50%
◉ 6. What term is applied to the practice of keeping low-income
people out of a particular neighborhood?
a. Income zoning
b. Exclusionary zoning
c. Nonconforming use
d. Subdivision exception
Reference: Ch. 19, Zoning, Land Use Restrictions, and Building
Codes, Purpose of Zoning. Answer: Exclusionary zoning
◉ 7. Complete this statement. A transaction broker _______________.
a. Owes full disclosure to both parties
b. Owes limited confidentiality to both parties
c. Must be compensated by both parties
d. Cannot work in a nonresidential transaction
, Reference: Ch. 4, Authorized Real Estate Brokerage Relationships,
Transaction Broker. Answer: Owes limited confidentiality to both
parties
◉ 8. Broker Jones committed fraud in a real estate transaction that
involved six investors in a limited partnership. What is the maximum
recovery possible from the Real Estate Recovery Fund for a single
judgment against the broker as a result of this fraudulent activity?
a. $25,000
b. $30,000
c. $50,000
d. $150,000
Reference: Ch. 6, The Disciplinary Process, Florida Real Estate
Recovery Fund. Answer: $50,000
◉ A mortgagor defaulted on their loan payments. The lender
foreclosed on the property. Some states allow the party that was
foreclosed the right to redeem the property following foreclosure.
What is the term used to describe this right?
a. Statutory right of redemption
b. Equitable right of redemption
