Bob Hogue chapter 5 UPDATED ACTUAL
Exam Questions and CORRECT Answers
John Anderson is a licensed real estate sales associate. Under which name may he register and be
licensed: a.) Complete Real Estate Sales Services b.) John Anderson Brokerage c.) John
Anderson, LLC d.) John Anderson and Partners - CORRECT ANSWER John Anderson,
LLC
A sales associate receives a binder deposit from a prospective buyer and Thursday morning.
Later that same day, the associate gives the binder deposit to his broker. By the end of business
on what day of the week must the broker deposit the funds into her escrow account? a.) Friday
b.) Monday c.) Tuesday d.) Wednesday - CORRECT ANSWER Tuesday
Real estate sales associates who receive checks payable to them as deposits on the purchase of
real property must_________________ - CORRECT ANSWER endorse the checks and
immediately turn them over to their employers
True or False: Is it illegal for the broker to keep any earned interest even if the buyer and the
seller give written permission - CORRECT ANSWER False
True or False: The escrow account may be wither interest bearing or non-interest bearing. -
CORRECT ANSWER True
A broker must get written authorization from the buyer and the seller before placing escrow
funds in an interest-bearing escrow account. - CORRECT ANSWER True
A broker may choose to have an attorney or Florida title company maintain the escrow account. -
CORRECT ANSWER True
If a dispute arises between the buyer and the seller as to which one is entitled to escrow on
property, what should the broker do first? - CORRECT ANSWER Notify the FREC in
writing, unless exempted from the notice requirements.
, An individual who paid for rental information but did not obtain a rental is entitled to a
repayment of - CORRECT ANSWER %75 of the fee if requested within 30 days of the
contract/receipt date
A woman purchased a rental list one week ago from a real estate broker. She inspected an
apartment described in the list. The apartment manager told her that cats were not allowed. She
had specifically looked at the apartment because the rental list indicated that pets were allowed.
Immediately, the orally demanded and should be allowed what from the broker? - CORRECT
ANSWER %100 percent of the fee paid
A sales associate employs an unlicensed personal assistant to help with real estate property
management. The unlicensed assistant may NOT - CORRECT ANSWER Show rental
property
Real Estate Sales Commission Lien Act true or false: The lien applies to commission only and
does not include other fees the owner agrees to pay in the brokerage agreement. - CORRECT
ANSWER False
Real Estate Sales Commission Lien Act true or false: The lien is filed against the real property
covered in the brokerage agreement. - CORRECT ANSWER False
Real Estate Sales Commission Lien Act true or false: The takes priority as of the date of the
brokerage agreement. - CORRECT ANSWER False
Real Estate Sales Commission Lien Act true or false: The broker must disclose to the owner at
the time of signing, or before the owner signs the brokerage agreement, that Chapter 475, Part
111, creates lien rights for commission earned by the broker. - CORRECT ANSWER True
When a sales associate decides to leave the employ of her broker to work for another broker, she
must - CORRECT ANSWER Notify the DBPR within 10 days of her change in broker-
employer.
Exam Questions and CORRECT Answers
John Anderson is a licensed real estate sales associate. Under which name may he register and be
licensed: a.) Complete Real Estate Sales Services b.) John Anderson Brokerage c.) John
Anderson, LLC d.) John Anderson and Partners - CORRECT ANSWER John Anderson,
LLC
A sales associate receives a binder deposit from a prospective buyer and Thursday morning.
Later that same day, the associate gives the binder deposit to his broker. By the end of business
on what day of the week must the broker deposit the funds into her escrow account? a.) Friday
b.) Monday c.) Tuesday d.) Wednesday - CORRECT ANSWER Tuesday
Real estate sales associates who receive checks payable to them as deposits on the purchase of
real property must_________________ - CORRECT ANSWER endorse the checks and
immediately turn them over to their employers
True or False: Is it illegal for the broker to keep any earned interest even if the buyer and the
seller give written permission - CORRECT ANSWER False
True or False: The escrow account may be wither interest bearing or non-interest bearing. -
CORRECT ANSWER True
A broker must get written authorization from the buyer and the seller before placing escrow
funds in an interest-bearing escrow account. - CORRECT ANSWER True
A broker may choose to have an attorney or Florida title company maintain the escrow account. -
CORRECT ANSWER True
If a dispute arises between the buyer and the seller as to which one is entitled to escrow on
property, what should the broker do first? - CORRECT ANSWER Notify the FREC in
writing, unless exempted from the notice requirements.
, An individual who paid for rental information but did not obtain a rental is entitled to a
repayment of - CORRECT ANSWER %75 of the fee if requested within 30 days of the
contract/receipt date
A woman purchased a rental list one week ago from a real estate broker. She inspected an
apartment described in the list. The apartment manager told her that cats were not allowed. She
had specifically looked at the apartment because the rental list indicated that pets were allowed.
Immediately, the orally demanded and should be allowed what from the broker? - CORRECT
ANSWER %100 percent of the fee paid
A sales associate employs an unlicensed personal assistant to help with real estate property
management. The unlicensed assistant may NOT - CORRECT ANSWER Show rental
property
Real Estate Sales Commission Lien Act true or false: The lien applies to commission only and
does not include other fees the owner agrees to pay in the brokerage agreement. - CORRECT
ANSWER False
Real Estate Sales Commission Lien Act true or false: The lien is filed against the real property
covered in the brokerage agreement. - CORRECT ANSWER False
Real Estate Sales Commission Lien Act true or false: The takes priority as of the date of the
brokerage agreement. - CORRECT ANSWER False
Real Estate Sales Commission Lien Act true or false: The broker must disclose to the owner at
the time of signing, or before the owner signs the brokerage agreement, that Chapter 475, Part
111, creates lien rights for commission earned by the broker. - CORRECT ANSWER True
When a sales associate decides to leave the employ of her broker to work for another broker, she
must - CORRECT ANSWER Notify the DBPR within 10 days of her change in broker-
employer.
