Gold Coast Final Exam 2026 (Questions and
Answers, UPDATE)
Employment - an associate can only have one employer at a time
What's the grace period for a Sales associate's first renewal? Post Licensing - no grace
period, void and null
Individuals who are exempt from licensure - Salaried Employees
How long can one stay involuntary inactive? - 2 years
What happens to an associates license if a broker's license is void, suspended, or
revoked? - their license automatically becomes inactive
Multiple Licenses - issued only to active brokers if it is clearly shown that such additional
licenses are necessary to the conduct of legitimate business
What is a Transaction broker - a broker who provides limited representation to a buyer,
seller, or both, in a real estate transaction
*not an AGENT*
Presenting Offers - must present all offers
, A broker is entitled to compensation if they... - bring a buyer who brings an offer the
seller was looking for
Listing Contract - broker's employment contract that states the terms and conditions that
the broker must meet to become eligible for compensation
Referral Fees:
I as the sellers agent promise kickback commission. Is this allowed? - yes, as long as
this is disclosed to all interested parties
what if an attorney asks for a fee because they referred a client to you? - you cannot
give him a referral fee for sending you a client
Principal Brokerage office - -registration is good for 2 years
-can switch locations
branch brokerage office - -registration is good for 2 years
-cannot move locations if not the principal location... in order to move it would need a
new registration for the new location and must pays fees associated with it
What are the requirements for a Principal Office? - -at least one enclosed room in a
building of stationary construction
-must maintain documents for a minimum of 5 years
What are the requirements for an associate advertising with a website? - -must have
brokerage name and his/her last name
Advertising - must have name of brokerage
When should one disclose that they are a licensed agent? - prior to entering serious
negotiations
Escrow Account pg.75**** - ESCROW ACCOUNT PG 75****
Earnest Money Deposit - provide written verification within 10 days of request
A buyer drops off an escrow check on Monday. To avoid any trouble with FREC, the
broker must deposit the check by close of business on which day? - Thursday
Which of the following 4 uses/has an interpleader?
Answers, UPDATE)
Employment - an associate can only have one employer at a time
What's the grace period for a Sales associate's first renewal? Post Licensing - no grace
period, void and null
Individuals who are exempt from licensure - Salaried Employees
How long can one stay involuntary inactive? - 2 years
What happens to an associates license if a broker's license is void, suspended, or
revoked? - their license automatically becomes inactive
Multiple Licenses - issued only to active brokers if it is clearly shown that such additional
licenses are necessary to the conduct of legitimate business
What is a Transaction broker - a broker who provides limited representation to a buyer,
seller, or both, in a real estate transaction
*not an AGENT*
Presenting Offers - must present all offers
, A broker is entitled to compensation if they... - bring a buyer who brings an offer the
seller was looking for
Listing Contract - broker's employment contract that states the terms and conditions that
the broker must meet to become eligible for compensation
Referral Fees:
I as the sellers agent promise kickback commission. Is this allowed? - yes, as long as
this is disclosed to all interested parties
what if an attorney asks for a fee because they referred a client to you? - you cannot
give him a referral fee for sending you a client
Principal Brokerage office - -registration is good for 2 years
-can switch locations
branch brokerage office - -registration is good for 2 years
-cannot move locations if not the principal location... in order to move it would need a
new registration for the new location and must pays fees associated with it
What are the requirements for a Principal Office? - -at least one enclosed room in a
building of stationary construction
-must maintain documents for a minimum of 5 years
What are the requirements for an associate advertising with a website? - -must have
brokerage name and his/her last name
Advertising - must have name of brokerage
When should one disclose that they are a licensed agent? - prior to entering serious
negotiations
Escrow Account pg.75**** - ESCROW ACCOUNT PG 75****
Earnest Money Deposit - provide written verification within 10 days of request
A buyer drops off an escrow check on Monday. To avoid any trouble with FREC, the
broker must deposit the check by close of business on which day? - Thursday
Which of the following 4 uses/has an interpleader?
