Gold Coast FINAL EXAM STUDY SET
what are the the areas a realtor should be an expert in? - ✔✔ correct answer Marketing
Valuation & Market Conditions
Property Transfer
"MVP"
Does one need to be a resident of the state or a citizen of the U.S. to get a FL real estate license? - ✔✔
correct answer to get a FL real estate license, you don't need to be a citizen
What must an applicant for a real estate license do if he has been convicted of a crime? - ✔✔ correct
answer must disclose all convictions
Employment - ✔✔ correct answer an associate can only have one employer at a time
What's the grace period for a Sales associate's first renewal? Post Licensing - ✔✔ correct answer no
grace period, void and null
Individuals who are exempt from licensure - ✔✔ correct answer Salaried Employees
How long can one stay involuntary inactive? - ✔✔ correct answer 2 years
What happens to an associates license if a broker's license is void, suspended, or revoked? - ✔✔ correct
answer their license automatically becomes inactive
Multiple Licenses - ✔✔ correct answer issued only to active brokers if it is clearly shown that such
additional licenses are necessary to the conduct of legitimate business
What is a Transaction broker - ✔✔ correct answer a broker who provides limited representation to a
buyer, seller, or both, in a real estate transaction
*not an AGENT*
, Gold Coast FINAL EXAM STUDY SET
Presenting Offers - ✔✔ correct answer must present all offers
A broker is entitled to compensation if they... - ✔✔ correct answer bring a buyer who brings an offer the
seller was looking for
Listing Contract - ✔✔ correct answer broker's employment contract that states the terms and conditions
that the broker must meet to become eligible for compensation
Referral Fees:
I as the sellers agent promise kickback commission. Is this allowed? - ✔✔ correct answer yes, as long as
this is disclosed to all interested parties
what if an attorney asks for a fee because they referred a client to you? - ✔✔ correct answer you cannot
give him a referral fee for sending you a client
Principal Brokerage office - ✔✔ correct answer -registration is good for 2 years
-can switch locations
branch brokerage office - ✔✔ correct answer -registration is good for 2 years
-cannot move locations if not the principal location... in order to move it would need a new registration
for the new location and must pays fees associated with it
What are the requirements for a Principal Office? - ✔✔ correct answer -at least one enclosed room in a
building of stationary construction
-must maintain documents for a minimum of 5 years
What are the requirements for an associate advertising with a website? - ✔✔ correct answer -must have
brokerage name and his/her last name
what are the the areas a realtor should be an expert in? - ✔✔ correct answer Marketing
Valuation & Market Conditions
Property Transfer
"MVP"
Does one need to be a resident of the state or a citizen of the U.S. to get a FL real estate license? - ✔✔
correct answer to get a FL real estate license, you don't need to be a citizen
What must an applicant for a real estate license do if he has been convicted of a crime? - ✔✔ correct
answer must disclose all convictions
Employment - ✔✔ correct answer an associate can only have one employer at a time
What's the grace period for a Sales associate's first renewal? Post Licensing - ✔✔ correct answer no
grace period, void and null
Individuals who are exempt from licensure - ✔✔ correct answer Salaried Employees
How long can one stay involuntary inactive? - ✔✔ correct answer 2 years
What happens to an associates license if a broker's license is void, suspended, or revoked? - ✔✔ correct
answer their license automatically becomes inactive
Multiple Licenses - ✔✔ correct answer issued only to active brokers if it is clearly shown that such
additional licenses are necessary to the conduct of legitimate business
What is a Transaction broker - ✔✔ correct answer a broker who provides limited representation to a
buyer, seller, or both, in a real estate transaction
*not an AGENT*
, Gold Coast FINAL EXAM STUDY SET
Presenting Offers - ✔✔ correct answer must present all offers
A broker is entitled to compensation if they... - ✔✔ correct answer bring a buyer who brings an offer the
seller was looking for
Listing Contract - ✔✔ correct answer broker's employment contract that states the terms and conditions
that the broker must meet to become eligible for compensation
Referral Fees:
I as the sellers agent promise kickback commission. Is this allowed? - ✔✔ correct answer yes, as long as
this is disclosed to all interested parties
what if an attorney asks for a fee because they referred a client to you? - ✔✔ correct answer you cannot
give him a referral fee for sending you a client
Principal Brokerage office - ✔✔ correct answer -registration is good for 2 years
-can switch locations
branch brokerage office - ✔✔ correct answer -registration is good for 2 years
-cannot move locations if not the principal location... in order to move it would need a new registration
for the new location and must pays fees associated with it
What are the requirements for a Principal Office? - ✔✔ correct answer -at least one enclosed room in a
building of stationary construction
-must maintain documents for a minimum of 5 years
What are the requirements for an associate advertising with a website? - ✔✔ correct answer -must have
brokerage name and his/her last name
