Gold Coast Real Estate Exam UPDATED
ACTUAL Questions and CORRECT Answers
• Local level -✓✓ Planning, zoning, property taxation, building and health codes and
regulations, and building moratoriums that affect development play a significant role in
the cost and desirability of real estate
• Broker associate -✓✓ A licensed broker working for another broker
• False -✓✓ A florida real estate license applicant must be a resident and citizen (true or
false)
• Application Denial -✓✓ You have 21 days to send a formal letter to the department for
a hearing if:
• One -✓✓ How mang brokers can a sales or broker associate work for
• Post license requirements -✓✓ No grace period
• Sales associate first renewal -✓✓ No grace period
• Exempt from licensure -✓✓ Attorney in fact/ Attorney at Law
• Attorneys at law -✓✓ My perform legal services on behalf ofntheir clients; they may
prepare documents, handle closings, and give legal advice.
• Involuntary inactive -✓✓ An individual who does not request renewal of their second or
subsequent lecense, pay the required fees, or maintain their continuing education
requirements will have their license placed in
• 2 years -✓✓ A license may remain in involuntary inactive status for no longer than
• Special Agent -✓✓ A special agent is authorized under agency law by the employer to
perform a single act. The employment contract between the employer and agent
establishes the limit of authority granted
• Presenting offers -✓✓ A broker has a buty to transmit any and all offers to the
employer including oral offers or offers made without a binder deposit
• Limited -✓✓ A transaction broker provides what kind of representation
, • Single agent -✓✓ this agency relationship is created when a broker accepts
employment under a single agency agreement. A broker may represent a seller or
buyer , or a landlord or tenant.
• Principal -✓✓ In a single agency relationship, the employer becomes the
• For sale By owner -✓✓ Non Representation or (No Brokerage Relationship can also
be called)
• FSBO -✓✓ For sale by owner can also be called
• Stationary Construction -✓✓ An active broker is required to have this open which must
be registered with the department of Business and Professional Regulation where
Negotiations and the closing of real estate transactions can be conducted with privacy
• Others -✓✓ Licencees should make clear that they are dealing on their own account
and not acting on the behalf of
• Public -✓✓ Licencees should make known their status as licencees to members of the
• Serious negotiations -✓✓ This Disclosure should be made prior to entering into
• Deposit -✓✓ A form of Money, personal property, real property, or anything of value
that is capable of being converted into cash.
• Closing -✓✓ Typically the deposit is intended as partial payment of the purchase price
at?
• Post dated checks -✓✓ Are considered to be promissory notes and can be accepted
as earnest money with the seller's approval.
• True -✓✓ When a deposit is placed, or is to be placed, with a title company or an
attorney, the licensee who prepared or presented the sales contract must indicate on
that contract the name, address, and telephone number of the title company or attorney
with whom the deposit was placed (True or False)
• Escrow or trust account -✓✓ May be held in a commercial bank, title company which
has trust powers, credit union, or savings and loan association located in the state of
Florida
• cannot -✓✓ The escrow account ______ be held in a stock or bond brokerage house
• Commingle -✓✓ A broker is not allowed to _________ or deposit the personal funds of
any person with any funds being held in escrow, trust or on condition
ACTUAL Questions and CORRECT Answers
• Local level -✓✓ Planning, zoning, property taxation, building and health codes and
regulations, and building moratoriums that affect development play a significant role in
the cost and desirability of real estate
• Broker associate -✓✓ A licensed broker working for another broker
• False -✓✓ A florida real estate license applicant must be a resident and citizen (true or
false)
• Application Denial -✓✓ You have 21 days to send a formal letter to the department for
a hearing if:
• One -✓✓ How mang brokers can a sales or broker associate work for
• Post license requirements -✓✓ No grace period
• Sales associate first renewal -✓✓ No grace period
• Exempt from licensure -✓✓ Attorney in fact/ Attorney at Law
• Attorneys at law -✓✓ My perform legal services on behalf ofntheir clients; they may
prepare documents, handle closings, and give legal advice.
• Involuntary inactive -✓✓ An individual who does not request renewal of their second or
subsequent lecense, pay the required fees, or maintain their continuing education
requirements will have their license placed in
• 2 years -✓✓ A license may remain in involuntary inactive status for no longer than
• Special Agent -✓✓ A special agent is authorized under agency law by the employer to
perform a single act. The employment contract between the employer and agent
establishes the limit of authority granted
• Presenting offers -✓✓ A broker has a buty to transmit any and all offers to the
employer including oral offers or offers made without a binder deposit
• Limited -✓✓ A transaction broker provides what kind of representation
, • Single agent -✓✓ this agency relationship is created when a broker accepts
employment under a single agency agreement. A broker may represent a seller or
buyer , or a landlord or tenant.
• Principal -✓✓ In a single agency relationship, the employer becomes the
• For sale By owner -✓✓ Non Representation or (No Brokerage Relationship can also
be called)
• FSBO -✓✓ For sale by owner can also be called
• Stationary Construction -✓✓ An active broker is required to have this open which must
be registered with the department of Business and Professional Regulation where
Negotiations and the closing of real estate transactions can be conducted with privacy
• Others -✓✓ Licencees should make clear that they are dealing on their own account
and not acting on the behalf of
• Public -✓✓ Licencees should make known their status as licencees to members of the
• Serious negotiations -✓✓ This Disclosure should be made prior to entering into
• Deposit -✓✓ A form of Money, personal property, real property, or anything of value
that is capable of being converted into cash.
• Closing -✓✓ Typically the deposit is intended as partial payment of the purchase price
at?
• Post dated checks -✓✓ Are considered to be promissory notes and can be accepted
as earnest money with the seller's approval.
• True -✓✓ When a deposit is placed, or is to be placed, with a title company or an
attorney, the licensee who prepared or presented the sales contract must indicate on
that contract the name, address, and telephone number of the title company or attorney
with whom the deposit was placed (True or False)
• Escrow or trust account -✓✓ May be held in a commercial bank, title company which
has trust powers, credit union, or savings and loan association located in the state of
Florida
• cannot -✓✓ The escrow account ______ be held in a stock or bond brokerage house
• Commingle -✓✓ A broker is not allowed to _________ or deposit the personal funds of
any person with any funds being held in escrow, trust or on condition
