GOLD COAST FINAL EXAM 2025 LATEST UPDATED QUESTIONS AND
ANSWERS 100% CORRECT
What is the form you sign that says you will pay the loan back ? - (ANSWER)promissory note
What is the post licensing grace period after first expiration ? - (ANSWER)none
Deposits is a form of... - (ANSWER)valuable consideration
Physical land and improvements - (ANSWER)real property
Is it a violation if a sales associate work for two brokers Monday-Friday, and Saturday and
Sunday and getting paid commission from both - (ANSWER)Yes
What is the maximum fine per offense ? - (ANSWER)$5,000 per fine
Out of state broker sends a customer, and had no part in the transaction and requests a referral
fee, should he expect a commission ? - (ANSWER)yes.
How many acres in one quarter of a section ? - (ANSWER)160
你是想要一篇“眼睛容易
阅读的”中文文章
What do you do when there is conflict in who escrow goes to - (ANSWER)notify FREC
When do you NOT have to notify FREC about conflict of escrow ? - (ANSWER)contingent on
the contract
T/F Grantee and Grantor has to sign the deed - (ANSWER)False
What statute has to deal with contracts being in writing ? - (ANSWER)Statute of Frauds
, T/F A broker can have an office an office in a motorhome - (ANSWER)false
Broker deposits $10,000 of personal funds into escrow account, what is he guilty of ? -
(ANSWER)commingling
What is the best deed from the grantors POV? - (ANSWER)Quitclaims Deed
What is the law that states that lenders have to tell you the truth about the interest rate ? -
(ANSWER)Truth in Lending
What law puts a time limit on contracts ? - (ANSWER)Statute of Limitation
What is the Statute of Limitation on oral contracts ? - (ANSWER)4 years
What is used when you exceed 80% loan amount, to insure funds? - (ANSWER)Private
Mortgage Interest (PMI)
The future use that brings in the highest return on land ? - (ANSWER)Highest and Best Use
Which entities that would fund a shopping center ? - (ANSWER)Life insurance companies
你是想要一篇“眼睛容易
阅读的”中文文章
Someone gives you a property to enjoy till you die is what type of estate ? - (ANSWER)life
estate
What type of estate reverses back after a life estate ? - (ANSWER)reversion estate
Limited representation of a buyer or seller - (ANSWER)transaction Broker
Single Agent that represents both seller and buyer ? - (ANSWER)dual agency
ANSWERS 100% CORRECT
What is the form you sign that says you will pay the loan back ? - (ANSWER)promissory note
What is the post licensing grace period after first expiration ? - (ANSWER)none
Deposits is a form of... - (ANSWER)valuable consideration
Physical land and improvements - (ANSWER)real property
Is it a violation if a sales associate work for two brokers Monday-Friday, and Saturday and
Sunday and getting paid commission from both - (ANSWER)Yes
What is the maximum fine per offense ? - (ANSWER)$5,000 per fine
Out of state broker sends a customer, and had no part in the transaction and requests a referral
fee, should he expect a commission ? - (ANSWER)yes.
How many acres in one quarter of a section ? - (ANSWER)160
你是想要一篇“眼睛容易
阅读的”中文文章
What do you do when there is conflict in who escrow goes to - (ANSWER)notify FREC
When do you NOT have to notify FREC about conflict of escrow ? - (ANSWER)contingent on
the contract
T/F Grantee and Grantor has to sign the deed - (ANSWER)False
What statute has to deal with contracts being in writing ? - (ANSWER)Statute of Frauds
, T/F A broker can have an office an office in a motorhome - (ANSWER)false
Broker deposits $10,000 of personal funds into escrow account, what is he guilty of ? -
(ANSWER)commingling
What is the best deed from the grantors POV? - (ANSWER)Quitclaims Deed
What is the law that states that lenders have to tell you the truth about the interest rate ? -
(ANSWER)Truth in Lending
What law puts a time limit on contracts ? - (ANSWER)Statute of Limitation
What is the Statute of Limitation on oral contracts ? - (ANSWER)4 years
What is used when you exceed 80% loan amount, to insure funds? - (ANSWER)Private
Mortgage Interest (PMI)
The future use that brings in the highest return on land ? - (ANSWER)Highest and Best Use
Which entities that would fund a shopping center ? - (ANSWER)Life insurance companies
你是想要一篇“眼睛容易
阅读的”中文文章
Someone gives you a property to enjoy till you die is what type of estate ? - (ANSWER)life
estate
What type of estate reverses back after a life estate ? - (ANSWER)reversion estate
Limited representation of a buyer or seller - (ANSWER)transaction Broker
Single Agent that represents both seller and buyer ? - (ANSWER)dual agency
