Gold Coast Real Estate Mock Exam |Practice Question| 100% Correct Answers

Gold Coast Real Estate Mock Exam |Practice Question| 100% Correct Answers 10 days *Ans* 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. 15 days *Ans* Notification to the commission must be made within ________ from the date of the last party's demand. 2 years *Ans* A license may remain in involuntary inactive status for no longer than 5,000 *Ans* Tax exemption for veterans of military service with atleast 10% military disability 500 *Ans* Tax exempt amount for blind and/or widows or widowers 500 60 *Ans* A second degree misdemeanor is punishable by a criminal fine of up to ___ dollars and imprisonment of up to __ days 60 days *Ans* Any resident licensee who becomes a nonresident must notify the Commission of the change in residency within 60 days *Ans* If you change residency you must notify the commission within 640 *Ans* How many acres does a township have Abstract continuation *Ans* is a history of the title to a property. Must be updated to assure that the property has a marketable title. Accretion *Ans* an increase in land area as moving water deposits soil in other than its original location. This is the opposite of erosion. ADA *Ans* Requires all physical barriers be removed for disables individuals Administrative *Ans* may be imposed by the Commission for violations of law or rules in amounts of up to 5,000 per offense Advance rents *Ans* May use thenfunds by paying 5% interest on surety bond Adverse possession *Ans* True owner fails to maintain possession and property is taken by another americans with disabilities *Ans* Act was passed in 1990 with the purpose of providing the same employment oppurtunities to qualified individuals with disabilities. Application Denial *Ans* You have 21 days to send a formal letter to the department for a hearing if: assessed value *Ans* The estimate of value that is determined by the county property tax appraiser is called the