Real Estate Continuing Education Practice Questions 45 hours Accurate 100%(RATED A+)

T/F: An initial real estate license expires on the first of two dates after 18 months: March 31 or September 30 - ANSWER True T/F: A Sales associate must complete a 60-hour post-licensing course before the first renewal. - ANSWER False; 45-hour post-licensing course T/F: A sales associate in a brokerage firm may work as a transaction broker to a buyer if another sales associate in the same firm is a single agent for the seller - ANSWER False; If a single-agency relationship is established with a residential seller, all licensees in that brokerage firm have single-agent duties to that seller. T/F: A licensee is allowed to be a dual agent, so long as it is disclosed to the buyer and the seller. - ANSWER False; dual agency is illegal in Florida. T/F: A licensee who acts as a single agent must give a single agent disclosure notice before showing a duplex to a prospective buyer. - ANSWER True T/F: A licensee who acts as a transaction broker must give a transaction broker notice before showing a house to a prospective buyer. - ANSWER False; A licensee need not give a brokerage relationship notice when the licensee is acting as a transaction broker. T/F: A transaction broker owes loyalty to her buyer. - ANSWER False; Loyalty is a duty of a single agent. A transaction broker provides limited representation to a buyer, a seller, or both in a real estate transaction, but does not represent either in a fiduciary capacity. T/F: A transaction broker may tell a buyer if he knows that the seller will take less than the asking price. - ANSWER False; The transaction broker may not reveal that the seller might accept a price less than the asking or list price. T/F: Only single agents may call their customers "principals." - ANSWER True; only single agency creates a fiduciary relationship. T/F: A single agent who transitions to transaction broker may not disclose to another party any information learned while serving as a single agent. - ANSWER True