10/18/24, 9:02 AM
Florida Real Estate STATE exam with complete solutions.
Terms in this set (87)
The best protection that the public has D. FREC and the license law
during a Real Estate transaction is (are)
A. The national and state association of
REALTORS
B. The punishment of licensees dealing
dishonesty
C. the high ethical standards of real estate
agents
D. FREC and the license law
A group license C. may be held by a sale associate or broker
A. allows a broker to have a branch office
B. allows a sales associate to work for more
than one broker
C. may be held by a sale associate or
broker associate
D.allows a broker to qualify more than one
broker firm
The following are exempt from F.S. 475 D. Business Brokers
EXCEPT
A. Trustees for an estate
B. Personal representatives for an estate
C. Mortgage brokers engaged in financing
activities.
D. Business Brokers
General Partners in a brokerage For Identification Purposes
partnership that are not qualified to
perform the services of real estate must be
registered as for what?
Florida Real Estate STATE exam
1/7
, 10/18/24, 9:02 AM
Which brokerage disclosure notice must be Transition to Transaction
signed or initialed by the buyer or seller
before implementation?
When a seller is about to enter a fiduciary Single Agency Notice
relationship with a brokerage firm what
must be given?
A broker owes which duty to a customer? Known Facts affecting the value of the residential property
What should he disclose?
Sale associate works for a broker and To his broker immediately (next business day)
receives an escrow deposit when should
he deliver it?
Listings obtained by a sales associate Employing broker
become property of whom?
Jim failed his state exam twice and believes FREC Validation Committee
some of the questions that he answered
were indeed correct. He can write a written
obligation for consideration for the
questions to whom?
Which Florida law prohibits a lender from Florida Fair Lending Act
refinancing a loan to the same borrower
within the first 18 months of making a loan,
if doing so does NOT reasonably benefit
the borrower
When there is a dispute over escrow funds, B. Mediation
the procedures include four choices. Which
choice involves a third person
recommending a solution?
A. Arbitration
B. Mediation
C. Litigation
D. Escrow Disbursement Order
What is a step that follows the investigation Formal Hearing
in complaint process
If a licensee does not dispute a citation it Final Order
has the same effect as what?
What is the max penalty that a court could $500 fine and/or 60 Days of Jail time
impose a second-degree misdemeanor?
For multiple claims against a licensee, the $150,000
FL real estate recovery fund has a max of
how much?
For single judgment against a licensee, the $50,000
FL real estate recovery fund has a max of
how much?
How is the FL Real Estate Fund funded? From licensing fees
Appeals of FREC final orders must be filed District Court of Appeals
where?
If a broker fails to pay his sale associate he Conversion
may be charged with?
Florida Real Estate STATE exam
2/7
Florida Real Estate STATE exam with complete solutions.
Terms in this set (87)
The best protection that the public has D. FREC and the license law
during a Real Estate transaction is (are)
A. The national and state association of
REALTORS
B. The punishment of licensees dealing
dishonesty
C. the high ethical standards of real estate
agents
D. FREC and the license law
A group license C. may be held by a sale associate or broker
A. allows a broker to have a branch office
B. allows a sales associate to work for more
than one broker
C. may be held by a sale associate or
broker associate
D.allows a broker to qualify more than one
broker firm
The following are exempt from F.S. 475 D. Business Brokers
EXCEPT
A. Trustees for an estate
B. Personal representatives for an estate
C. Mortgage brokers engaged in financing
activities.
D. Business Brokers
General Partners in a brokerage For Identification Purposes
partnership that are not qualified to
perform the services of real estate must be
registered as for what?
Florida Real Estate STATE exam
1/7
, 10/18/24, 9:02 AM
Which brokerage disclosure notice must be Transition to Transaction
signed or initialed by the buyer or seller
before implementation?
When a seller is about to enter a fiduciary Single Agency Notice
relationship with a brokerage firm what
must be given?
A broker owes which duty to a customer? Known Facts affecting the value of the residential property
What should he disclose?
Sale associate works for a broker and To his broker immediately (next business day)
receives an escrow deposit when should
he deliver it?
Listings obtained by a sales associate Employing broker
become property of whom?
Jim failed his state exam twice and believes FREC Validation Committee
some of the questions that he answered
were indeed correct. He can write a written
obligation for consideration for the
questions to whom?
Which Florida law prohibits a lender from Florida Fair Lending Act
refinancing a loan to the same borrower
within the first 18 months of making a loan,
if doing so does NOT reasonably benefit
the borrower
When there is a dispute over escrow funds, B. Mediation
the procedures include four choices. Which
choice involves a third person
recommending a solution?
A. Arbitration
B. Mediation
C. Litigation
D. Escrow Disbursement Order
What is a step that follows the investigation Formal Hearing
in complaint process
If a licensee does not dispute a citation it Final Order
has the same effect as what?
What is the max penalty that a court could $500 fine and/or 60 Days of Jail time
impose a second-degree misdemeanor?
For multiple claims against a licensee, the $150,000
FL real estate recovery fund has a max of
how much?
For single judgment against a licensee, the $50,000
FL real estate recovery fund has a max of
how much?
How is the FL Real Estate Fund funded? From licensing fees
Appeals of FREC final orders must be filed District Court of Appeals
where?
If a broker fails to pay his sale associate he Conversion
may be charged with?
Florida Real Estate STATE exam
2/7
