Gold Coast Real Estate
Tract building - ✔✔ correct answer When a dev. Acquired land, records a plat map and uses a model
center from which sales may be made
Local level - ✔✔ correct answer Planning, zoning, property taxation, building and health codes and
regulations, and building moratoriums that affect development play a significant role in the cost and
desirability of real estate
Broker associate - ✔✔ correct answer A licensed broker working for another broker
False - ✔✔ correct answer A florida real estate license applicant must be a resident and citizen (true or
false)
Application Denial - ✔✔ correct answer You have 21 days to send a formal letter to the department for a
hearing if:
One - ✔✔ correct answer How mang brokers can a sales or broker associate work for
Post license requirements - ✔✔ correct answer No grace period
Sales associate first renewal - ✔✔ correct answer No grace period
Exempt from licensure - ✔✔ correct answer Attorney in fact/ Attorney at Law
Attorneys at law - ✔✔ correct answer My perform legal services on behalf ofntheir clients; they may
prepare documents, handle closings, and give legal advice.
Involuntary inactive - ✔✔ correct answer An individual who does not request renewal of their second or
subsequent lecense, pay the required fees, or maintain their continuing education requirements will
have their license placed in
2 years - ✔✔ correct answer A license may remain in involuntary inactive status for no longer than
,Gold Coast Real Estate
Special Agent - ✔✔ correct answer A special agent is authorized under agency law by the employer to
perform a single act. The employment contract between the employer and agent establishes the limit of
authority granted
Presenting offers - ✔✔ correct answer A broker has a buty to transmit any and all offers to the employer
including oral offers or offers made without a binder deposit
Limited - ✔✔ correct answer A transaction broker provides what kind of representation
Single agent - ✔✔ correct answer this agency relationship is created when a broker accepts employment
under a single agency agreement. A broker may represent a seller or buyer , or a landlord or tenant.
Principal - ✔✔ correct answer In a single agency relationship, the employer becomes the
For sale By owner - ✔✔ correct answer Non Representation or (No Brokerage Relationship can also be
called)
FSBO - ✔✔ correct answer For sale by owner can also be called
Stationary Construction - ✔✔ correct answer An active broker is required to have this open which must
be registered with the department of Business and Professional Regulation where Negotiations and the
closing of real estate transactions can be conducted with privacy
Others - ✔✔ correct answer Licencees should make clear that they are dealing on their own account and
not acting on the behalf of
Public - ✔✔ correct answer Licencees should make known their status as licencees to members of the
Serious negotiations - ✔✔ correct answer This Disclosure should be made prior to entering into
, Gold Coast Real Estate
Deposit - ✔✔ correct answer A form of Money, personal property, real property, or anything of value
that is capable of being converted into cash.
Closing - ✔✔ correct answer Typically the deposit is intended as partial payment of the purchase price
at?
Post dated checks - ✔✔ correct answer Are considered to be promissory notes and can be accepted as
earnest money with the seller's approval.
True - ✔✔ correct answer When a deposit is placed, or is to be placed, with a title company or an
attorney, the licensee who prepared or presented the sales contract must indicate on that contract the
name, address, and telephone number of the title company or attorney with whom the deposit was
placed (True or False)
Escrow or trust account - ✔✔ correct answer May be held in a commercial bank, title company which
has trust powers, credit union, or savings and loan association located in the state of Florida
cannot - ✔✔ correct answer The escrow account ______ be held in a stock or bond brokerage house
Commingle - ✔✔ correct answer A broker is not allowed to _________ or deposit the personal funds of
any person with any funds being held in escrow, trust or on condition
Next business day - ✔✔ correct answer A sales associate or broker associate who receives an earnest
money deposit on behalf of his or her employer must deliver the deposit to the employer no later than
the _________________ following the receipt
True - ✔✔ correct answer A broker must immediately place the earnest money deposit in a escrow or
trust account. (True or False)
Immadiately - ✔✔ correct answer Defined as "No later than the end of the third business day following
receipt"
Tract building - ✔✔ correct answer When a dev. Acquired land, records a plat map and uses a model
center from which sales may be made
Local level - ✔✔ correct answer Planning, zoning, property taxation, building and health codes and
regulations, and building moratoriums that affect development play a significant role in the cost and
desirability of real estate
Broker associate - ✔✔ correct answer A licensed broker working for another broker
False - ✔✔ correct answer A florida real estate license applicant must be a resident and citizen (true or
false)
Application Denial - ✔✔ correct answer You have 21 days to send a formal letter to the department for a
hearing if:
One - ✔✔ correct answer How mang brokers can a sales or broker associate work for
Post license requirements - ✔✔ correct answer No grace period
Sales associate first renewal - ✔✔ correct answer No grace period
Exempt from licensure - ✔✔ correct answer Attorney in fact/ Attorney at Law
Attorneys at law - ✔✔ correct answer My perform legal services on behalf ofntheir clients; they may
prepare documents, handle closings, and give legal advice.
Involuntary inactive - ✔✔ correct answer An individual who does not request renewal of their second or
subsequent lecense, pay the required fees, or maintain their continuing education requirements will
have their license placed in
2 years - ✔✔ correct answer A license may remain in involuntary inactive status for no longer than
,Gold Coast Real Estate
Special Agent - ✔✔ correct answer A special agent is authorized under agency law by the employer to
perform a single act. The employment contract between the employer and agent establishes the limit of
authority granted
Presenting offers - ✔✔ correct answer A broker has a buty to transmit any and all offers to the employer
including oral offers or offers made without a binder deposit
Limited - ✔✔ correct answer A transaction broker provides what kind of representation
Single agent - ✔✔ correct answer this agency relationship is created when a broker accepts employment
under a single agency agreement. A broker may represent a seller or buyer , or a landlord or tenant.
Principal - ✔✔ correct answer In a single agency relationship, the employer becomes the
For sale By owner - ✔✔ correct answer Non Representation or (No Brokerage Relationship can also be
called)
FSBO - ✔✔ correct answer For sale by owner can also be called
Stationary Construction - ✔✔ correct answer An active broker is required to have this open which must
be registered with the department of Business and Professional Regulation where Negotiations and the
closing of real estate transactions can be conducted with privacy
Others - ✔✔ correct answer Licencees should make clear that they are dealing on their own account and
not acting on the behalf of
Public - ✔✔ correct answer Licencees should make known their status as licencees to members of the
Serious negotiations - ✔✔ correct answer This Disclosure should be made prior to entering into
, Gold Coast Real Estate
Deposit - ✔✔ correct answer A form of Money, personal property, real property, or anything of value
that is capable of being converted into cash.
Closing - ✔✔ correct answer Typically the deposit is intended as partial payment of the purchase price
at?
Post dated checks - ✔✔ correct answer Are considered to be promissory notes and can be accepted as
earnest money with the seller's approval.
True - ✔✔ correct answer When a deposit is placed, or is to be placed, with a title company or an
attorney, the licensee who prepared or presented the sales contract must indicate on that contract the
name, address, and telephone number of the title company or attorney with whom the deposit was
placed (True or False)
Escrow or trust account - ✔✔ correct answer May be held in a commercial bank, title company which
has trust powers, credit union, or savings and loan association located in the state of Florida
cannot - ✔✔ correct answer The escrow account ______ be held in a stock or bond brokerage house
Commingle - ✔✔ correct answer A broker is not allowed to _________ or deposit the personal funds of
any person with any funds being held in escrow, trust or on condition
Next business day - ✔✔ correct answer A sales associate or broker associate who receives an earnest
money deposit on behalf of his or her employer must deliver the deposit to the employer no later than
the _________________ following the receipt
True - ✔✔ correct answer A broker must immediately place the earnest money deposit in a escrow or
trust account. (True or False)
Immadiately - ✔✔ correct answer Defined as "No later than the end of the third business day following
receipt"
