Gold Coast Real Estate UPDATED ACTUAL
Exam Questions and CORRECT Answers
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
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
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
Exam Questions and CORRECT Answers
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
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
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
