Gold Coast Final Exam 2023 Questions and Answers 100% Correct

What is the form you sign that says you will pay the loan back ? - promissory note What is the post licensing grace period after first expiration ? - none Deposits is a form of... - valuable consideration Physical land and improvements - real property Is it a violation if a sales associate work for two brokers Monday-Friday, and Saturday and Sunday and getting paid commission from both - Yes What is the maximum fine per offense ? - $5,000 per fine Out of state broker sends a customer, and had no part in the transaction and requests a referral fee, should he expect a commission ? - yes. How many acres in one quarter of a section ? - 160 What do you do when there is conflict in who escrow goes to - notify FREC When do you NOT have to notify FREC about conflict of escrow ? - contingent on the contract T/F Grantee and Grantor has to sign the deed - False What statute has to deal with contracts being in writing ? - Statute of Frauds T/F A broker can have an office an office in a motorhome - false Broker deposits $10,000 of personal funds into escrow account, what is he guilty of ? - commingling What is the best deed from the grantors POV? - Quitclaims Deed