GOLD COAST 45 HOUR QUESTIONS AND
ANSWERS SET A+
✔✔True - ✔✔A broker must immediately place the earnest money deposit in a escrow
or trust account. (True or False)
✔✔Immadiately - ✔✔Defined as "No later than the end of the third business day
following receipt"
✔✔escrow dispute - ✔✔Conflicting requests in which both the buyer and the seller
demand that the broker release escrowed funds is called an
✔✔written notification - ✔✔If a broker receives conflicting demansafor escrowed funds,
or if the broker has good-faith doubt as to which person is entitled to the escrow
property, the broker must give _______________ to the commission
✔✔15 days - ✔✔Notification to the commission must be made within ________ from the
date of the last party's demand.
✔✔10 days - ✔✔A sales associate must report any change of employer or change of
address within _____ of the change to the Department on a form prescribed for such
use.
✔✔60 days - ✔✔Any resident licensee who becomes a nonresident must notify the
Commission of the change in residency within
✔✔False - ✔✔A non- US Citizen can be denied (True or False)
✔✔Real estate brokerage partnership - ✔✔Must have at least one partner licensed as
an active broker
✔✔Brokers license - ✔✔Each partner who provides real estate services to the public
either ditectly or indirectly must hold an active __________
ANSWERS SET A+
✔✔True - ✔✔A broker must immediately place the earnest money deposit in a escrow
or trust account. (True or False)
✔✔Immadiately - ✔✔Defined as "No later than the end of the third business day
following receipt"
✔✔escrow dispute - ✔✔Conflicting requests in which both the buyer and the seller
demand that the broker release escrowed funds is called an
✔✔written notification - ✔✔If a broker receives conflicting demansafor escrowed funds,
or if the broker has good-faith doubt as to which person is entitled to the escrow
property, the broker must give _______________ to the commission
✔✔15 days - ✔✔Notification to the commission must be made within ________ from the
date of the last party's demand.
✔✔10 days - ✔✔A sales associate must report any change of employer or change of
address within _____ of the change to the Department on a form prescribed for such
use.
✔✔60 days - ✔✔Any resident licensee who becomes a nonresident must notify the
Commission of the change in residency within
✔✔False - ✔✔A non- US Citizen can be denied (True or False)
✔✔Real estate brokerage partnership - ✔✔Must have at least one partner licensed as
an active broker
✔✔Brokers license - ✔✔Each partner who provides real estate services to the public
either ditectly or indirectly must hold an active __________
