Gold Coast Flashcards Questions With Accurate Solutions
Some economists believe that real estate is _____ the GDP of the US - accurate
answers-1/3
A ______ is a business in which real estate related activities are performed
under the authority of license real estate_____ - accurate answers-real estate
brokerage and Broker
A_____ works for the broker - accurate answers-sales associate
Real estate _____, whether sales associates or brokers, are persons who have
met the requirements of law and are licensed and permitted to perform
services - accurate answers-licensees
Many licensees will concentrate on one type or style of property or on one
particular neighborhood, this is called_____ - accurate answers-farming
Three areas required of expert knowledge for all real estate licensees: -
accurate answers-Property Transfer, valuation and market conditions, and
marketing
Real estate licensees typically prepare a _______, which is a value estimate
based on recent sales of slimier properties in the same location - accurate
answers-comparative market analysis CMA
A CMA may not be referred to as an _______ - accurate answers-appraisal
A Broker Price Opinion includes...... - accurate answers-a neighborhood
analysis of comparable properties along with local and regional market info.
BPO's are less thorough than an______, but require more analysis than a basic
_____ - accurate answers-appraisal and CMA
The ______ provides an extensive marketing tool for licensees. It is a detailed
database of properties of all kinds. - accurate answers-Multiple Listing Service
(MLS)
,A residential transaction is defined as (5 things) - accurate answers-1. The
sale of any improved residential property of four units or fewer
2. Unimproved property intended for four units or fewer
3. Agricultural properties of ten acres or less
4. leases with options to purchase all or a portion of improved property of 4 or
fewer residential units
5. dispositions of business interests involving property of 4 or fewer
residential units.
Property managers DO NOT _____ - accurate answers-prepare leases
______ is the process of developing an opinion of value of real property -
accurate answers-Appraising
Real estate licensees do not perform____ - accurate answers-appraisals
The three general phases of development and construction are: - accurate
answers-land acquisition, subdividing and development, and recording of the
submission plat map.
The ownership of streets and sidewalks is typically conveyed by the developer
to the city upon completion of a subdivision. This transfer of ownership is
referred to as_____ - accurate answers-a dedication
Custom building: - accurate answers-when a contractor is employed to build a
structure according to the customer's specifications.
Speculative building: - accurate answers-when a contractor builds a structure
before securing a buyer with the hope of selling the finished structure. This is
AKA building on spec
Tract building - accurate answers-when a developing acquires a large tract of
land, records a subdivision plat map, and uses a model center from which
sales may be made.
Government regulation at the local level: - accurate answers-planning an
zoning, property taxation, building and health codes and regulations, and
building moratoriums.
,Government regulation at the state level: - accurate answers-the DRI, the DEP,
and the DEO all play an important role in real estate development.
Government regulation at the federal level: - accurate answers-legislation that
affects the operation of lending institutions has an enormous effect on real
estate.
caveat emptor defintion - accurate answers-let the buyer beware
commission refers to the...... - accurate answers-Florida Real Estate
Commission (FREC)
department refers to the...... - accurate answers-Department of Business and
Professional Regulation (DBPR)
Division refers to the.... - accurate answers-Devision of Real Estate (DRE)
Licensees must not perform unauthorized services beyond the scope of their
license for example: - accurate answers-practice of law, accounting, or
insurance w/o the required license
The most common services of Real Estate are.... (A BAR SALE) - accurate
answers-Appraising
buying
auctioning
renting
selling
advertising
leasing
exchanging
Auctioneers are licensed and regulated by the DBPR under what rule? -
accurate answers-Part IV of F.S. 468
what is the term for using bidders to drive up the price of property illegally? -
accurate answers-By bidders
Licensing Categories for real estate license: - accurate answers-sales assc.,
broker, broker assc.
, Sales associates and broker associates never receive compensation from.... -
accurate answers-the customer. only from the broker
A licensed sales assc. who want to be a rocker must have been employed
under one or more..... - accurate answers-actively licensed brokers for at least
24 months. licensure under an owner-developer does not satisfy this
requirement.
The following applicants may also qualify to apply for a brokers license: -
accurate answers-1. actively licensed real estate sales associates from another
state or nation who have been licensed for at least 24 months during the
preceding five years.
2. salaried employees of governmental agencies who have performed services
similar to real estate licensees for at least 24 months within the previous five
years.
3. investigates for the Department who have at least 24 months experience
dealing with real estate license violations
General qualifications for a real estate license include (4): - accurate answers-
social security number, 18 years of age, high school diploma, must be honest
and trustworthy
An application for a Florida real estate license is _____ required to be a resident
of the state of Florida, or to be a citizen of the United States - accurate
answers-NOT
Licensing process has three phases: - accurate answers-1. pre licensing
a. pre license education course with 70% or higher
b. apply for state exam
c. electronic fingerprints
d. state exam with 75%
2. post licensing
a. pass post license course exam
b. pay a renewal fee
Some economists believe that real estate is _____ the GDP of the US - accurate
answers-1/3
A ______ is a business in which real estate related activities are performed
under the authority of license real estate_____ - accurate answers-real estate
brokerage and Broker
A_____ works for the broker - accurate answers-sales associate
Real estate _____, whether sales associates or brokers, are persons who have
met the requirements of law and are licensed and permitted to perform
services - accurate answers-licensees
Many licensees will concentrate on one type or style of property or on one
particular neighborhood, this is called_____ - accurate answers-farming
Three areas required of expert knowledge for all real estate licensees: -
accurate answers-Property Transfer, valuation and market conditions, and
marketing
Real estate licensees typically prepare a _______, which is a value estimate
based on recent sales of slimier properties in the same location - accurate
answers-comparative market analysis CMA
A CMA may not be referred to as an _______ - accurate answers-appraisal
A Broker Price Opinion includes...... - accurate answers-a neighborhood
analysis of comparable properties along with local and regional market info.
BPO's are less thorough than an______, but require more analysis than a basic
_____ - accurate answers-appraisal and CMA
The ______ provides an extensive marketing tool for licensees. It is a detailed
database of properties of all kinds. - accurate answers-Multiple Listing Service
(MLS)
,A residential transaction is defined as (5 things) - accurate answers-1. The
sale of any improved residential property of four units or fewer
2. Unimproved property intended for four units or fewer
3. Agricultural properties of ten acres or less
4. leases with options to purchase all or a portion of improved property of 4 or
fewer residential units
5. dispositions of business interests involving property of 4 or fewer
residential units.
Property managers DO NOT _____ - accurate answers-prepare leases
______ is the process of developing an opinion of value of real property -
accurate answers-Appraising
Real estate licensees do not perform____ - accurate answers-appraisals
The three general phases of development and construction are: - accurate
answers-land acquisition, subdividing and development, and recording of the
submission plat map.
The ownership of streets and sidewalks is typically conveyed by the developer
to the city upon completion of a subdivision. This transfer of ownership is
referred to as_____ - accurate answers-a dedication
Custom building: - accurate answers-when a contractor is employed to build a
structure according to the customer's specifications.
Speculative building: - accurate answers-when a contractor builds a structure
before securing a buyer with the hope of selling the finished structure. This is
AKA building on spec
Tract building - accurate answers-when a developing acquires a large tract of
land, records a subdivision plat map, and uses a model center from which
sales may be made.
Government regulation at the local level: - accurate answers-planning an
zoning, property taxation, building and health codes and regulations, and
building moratoriums.
,Government regulation at the state level: - accurate answers-the DRI, the DEP,
and the DEO all play an important role in real estate development.
Government regulation at the federal level: - accurate answers-legislation that
affects the operation of lending institutions has an enormous effect on real
estate.
caveat emptor defintion - accurate answers-let the buyer beware
commission refers to the...... - accurate answers-Florida Real Estate
Commission (FREC)
department refers to the...... - accurate answers-Department of Business and
Professional Regulation (DBPR)
Division refers to the.... - accurate answers-Devision of Real Estate (DRE)
Licensees must not perform unauthorized services beyond the scope of their
license for example: - accurate answers-practice of law, accounting, or
insurance w/o the required license
The most common services of Real Estate are.... (A BAR SALE) - accurate
answers-Appraising
buying
auctioning
renting
selling
advertising
leasing
exchanging
Auctioneers are licensed and regulated by the DBPR under what rule? -
accurate answers-Part IV of F.S. 468
what is the term for using bidders to drive up the price of property illegally? -
accurate answers-By bidders
Licensing Categories for real estate license: - accurate answers-sales assc.,
broker, broker assc.
, Sales associates and broker associates never receive compensation from.... -
accurate answers-the customer. only from the broker
A licensed sales assc. who want to be a rocker must have been employed
under one or more..... - accurate answers-actively licensed brokers for at least
24 months. licensure under an owner-developer does not satisfy this
requirement.
The following applicants may also qualify to apply for a brokers license: -
accurate answers-1. actively licensed real estate sales associates from another
state or nation who have been licensed for at least 24 months during the
preceding five years.
2. salaried employees of governmental agencies who have performed services
similar to real estate licensees for at least 24 months within the previous five
years.
3. investigates for the Department who have at least 24 months experience
dealing with real estate license violations
General qualifications for a real estate license include (4): - accurate answers-
social security number, 18 years of age, high school diploma, must be honest
and trustworthy
An application for a Florida real estate license is _____ required to be a resident
of the state of Florida, or to be a citizen of the United States - accurate
answers-NOT
Licensing process has three phases: - accurate answers-1. pre licensing
a. pre license education course with 70% or higher
b. apply for state exam
c. electronic fingerprints
d. state exam with 75%
2. post licensing
a. pass post license course exam
b. pay a renewal fee
