FL REAL ESTATE Ch 2 Exam Test Questions &
Answers With Rationale Updated Solution
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Terms in this set (29)
1. The Florida Real Estate Your answer: B
Commission was first The first Florida Real Estate Commission was
created in what year? created in 1925 to administer and enforce the law,
(a) 1932 streamlining the process by removing the necessity
(b) 1925 for court enforcement.
(c) 1923 Reference: Chapter 2, Real Estate License Law,
(d) 1919 History of the Law
2. What is the purpose of Your answer: A
the real estate license The purpose of the Florida Real Estate License
law? Law, F.S. 475, is to protect the public. The DBPR is
(a) To protect the public essentially a consumer protection agency.
(b) To protect licensees Reference: Chapter 2, Real Estate License Law,
(c) To clarify the law Purpose of the Law
(d) To grant licenses
,3. Why was the Florida Your answer: B
Real Estate Commission The first FREC was created in 1925 to administer
(FREC, or the and enforce the law, streamlining the process by
Commission) created? removing the necessity for court enforcement.
(a) To protect the public Reference: Chapter 2, Real Estate License Law,
(b) To administer and History of the Law
enforce the law
(c) To discipline licensees
(d) To award professional
designations
Your answer: D
All sales associates, whether actively or inactively
4. A sales associate
licensed, must complete a 45-hour post-licensing
failed to complete the
course prior to the expiration date of their initial
required post-license
license period. Failure to complete this required
education prior to their
course prior to expiration of the initial license will
renewal deadline. What
cause the license to become void, and the licensee
is the status of the sales
will be out of business. To continue in the real
associate's license?
estate profession, he or she must take the 63-hour
(a) Revoked
pre-license course over again and pass another
(b) Suspended
state examination.
(c) Involuntarily inactive
Reference: Chapter 2, Renewing a Florida Real
(d) Void
Estate License, Post-license (First Renewal)
Requirements - Sales Associate First Renewal
, 5. What does the Your answer: B
registration of an active Registration is the placing and keeping on record
sales associate with the of the name and address of an individual or
Department refer to? business.
(a) Placing and keeping
on record the sales The Division of Real Estate (DRE, or the Division)
associate's name and maintains a registration list of all brokers, sales
home address associates, and businesses that employ licensees
(b) Placing and keeping engaged in the real estate business.
on record the sales Reference: Chapter 2, Licensure and Registration
associate's name, home
address and business
address of his or her
employing broker
(c) The broker's name
and business address
(d) Placing and keeping
on record the sales
associate's name, and
the business address of
his or her employer
6. How may a licensed Your answer: D
sales associate be paid A sales associate or broker associate employed by
by his or her owner- an owner-developer can perform services for
developer? compensation only with regard to property
(a) On a salary basis only belonging to the owner-developer. Compensation
(b) On a commission includes anything or any service of value paid,
basis only received, or expected to be paid or received. The
(c) On a commission owner-developer can pay the sales associate a
basis without a bonus commission or a salary.
(d) On a commission or Reference: Chapter 2, Employment - Employment
salary basis by an Owner-Developer
Answers With Rationale Updated Solution
Save
Terms in this set (29)
1. The Florida Real Estate Your answer: B
Commission was first The first Florida Real Estate Commission was
created in what year? created in 1925 to administer and enforce the law,
(a) 1932 streamlining the process by removing the necessity
(b) 1925 for court enforcement.
(c) 1923 Reference: Chapter 2, Real Estate License Law,
(d) 1919 History of the Law
2. What is the purpose of Your answer: A
the real estate license The purpose of the Florida Real Estate License
law? Law, F.S. 475, is to protect the public. The DBPR is
(a) To protect the public essentially a consumer protection agency.
(b) To protect licensees Reference: Chapter 2, Real Estate License Law,
(c) To clarify the law Purpose of the Law
(d) To grant licenses
,3. Why was the Florida Your answer: B
Real Estate Commission The first FREC was created in 1925 to administer
(FREC, or the and enforce the law, streamlining the process by
Commission) created? removing the necessity for court enforcement.
(a) To protect the public Reference: Chapter 2, Real Estate License Law,
(b) To administer and History of the Law
enforce the law
(c) To discipline licensees
(d) To award professional
designations
Your answer: D
All sales associates, whether actively or inactively
4. A sales associate
licensed, must complete a 45-hour post-licensing
failed to complete the
course prior to the expiration date of their initial
required post-license
license period. Failure to complete this required
education prior to their
course prior to expiration of the initial license will
renewal deadline. What
cause the license to become void, and the licensee
is the status of the sales
will be out of business. To continue in the real
associate's license?
estate profession, he or she must take the 63-hour
(a) Revoked
pre-license course over again and pass another
(b) Suspended
state examination.
(c) Involuntarily inactive
Reference: Chapter 2, Renewing a Florida Real
(d) Void
Estate License, Post-license (First Renewal)
Requirements - Sales Associate First Renewal
, 5. What does the Your answer: B
registration of an active Registration is the placing and keeping on record
sales associate with the of the name and address of an individual or
Department refer to? business.
(a) Placing and keeping
on record the sales The Division of Real Estate (DRE, or the Division)
associate's name and maintains a registration list of all brokers, sales
home address associates, and businesses that employ licensees
(b) Placing and keeping engaged in the real estate business.
on record the sales Reference: Chapter 2, Licensure and Registration
associate's name, home
address and business
address of his or her
employing broker
(c) The broker's name
and business address
(d) Placing and keeping
on record the sales
associate's name, and
the business address of
his or her employer
6. How may a licensed Your answer: D
sales associate be paid A sales associate or broker associate employed by
by his or her owner- an owner-developer can perform services for
developer? compensation only with regard to property
(a) On a salary basis only belonging to the owner-developer. Compensation
(b) On a commission includes anything or any service of value paid,
basis only received, or expected to be paid or received. The
(c) On a commission owner-developer can pay the sales associate a
basis without a bonus commission or a salary.
(d) On a commission or Reference: Chapter 2, Employment - Employment
salary basis by an Owner-Developer
