Final Test Questions (Bob Hogue 2017)
Study online at https://quizlet.com/_hpx856
1. Comparative Market Analysis (CMA): Marketing tool and may not be referred to or represented
as an appraisal
2. Follow UP: Whats sales associates do for buyers and sellers after the sale
3. Which is NOT a category of real estate licenses question? These 3 are: Sales
Associate; Broker; Broker Associate
4. Which does NOT need to be disclosed for Background Check?: Parking, Speeding,
inspections, or traffic signal violations
5. What is required by Mutual Recognition applicants?: 75% or higher required to pass exam
6. How long is a license valid on a real estate application?: 2 years
7. Who is exempt from having Real Estate License?: A person who has been given POA
8. What power does FREC have? (#31): Quasi-Judical
9. The DBPR may issue a temporary real estate license to which? (#25): Spouse of
active duty who transfers to Florida expires after 6 months and is NOT Renewable
10. A person who no longer wants to engage in the real estate business can
voluntarily relinquish or cancel the license, provided there is no investigation
or disciplinary proceeding pending against the license (#79): True Statement
11. Broker who qualifies as the broker for more than one business entity?: Multiple
Licenses
12. How should a buyer respond to a for-sale-by-owner?: Caveat Emptor ( buyer beware)
13. How long must Brokers retain Disclosure Documents?: 5 years in a secured location
14. What happens in a non-residential real estate transaction where the buyer
and the seller each have 1 million or more in assets?: The broker will assign two sales
associates in such an arrangement and they are called designated sales associates
15. A brokerage relationship b/w a principal (or a customer) and a broker may
be terminated by: (Is a NOT Question on Test): Death of a sellers broker or the seller before the
broker finds a ready, willing and able buyer.
Death of the buyers brokers or the buyer before the broker finds a suitable property for the buyer
Destruction of the property
Bankruptcy of the principal or the customer
16. What don't you have to put on an office sign?: The names of the sales and brokers associates
are not required but the Trade name or Brokers name is required
1/5
, Final Test Questions (Bob Hogue 2017)
Study online at https://quizlet.com/_hpx856
17. Which of the following is a true statement about Florida Telemarketing?: Vio-
lators may be fined $10,000 per call
18. When a sales associate receives an earnest money deposit what must he
do?: Give to the broker w/n 24 hours and then the Broker has 3 business days to put into an escrow account
19. With in how many days must a Broker notify the commission about an
EDO?: 10 business days
20. Sale a used condo give buyer the docs. After they receive the docs how many
days do they have to cancel? (Test Question #61): Answer is 2 Days!!
21. What is it called when competing brokers conspire to establish the same
commission? (#76): Price Fixing
22. Brokers can not pay an unlicensed person a commission but can do what?
(#20): Can pay them no more the $50
23. What does not need to register as an Real Estate Broker? (#84): Corporation Sole
(church)
24. What needs to be done when filing a complaint?: Must be in writing
Must be legally sufficient
25. FREC gives suspension request what is it called?: Stay of enforcement
26. Complaint that required refund of money. What cant they do?: FREC does not have
the authority to order RESTITUTION
27. How many days must a licensee take action to correct a notice of compli-
ance?: 15 days
28. Claims resulting from an EDO what can NOT happen?: FREC CAN NOT PAY RE RECOVERY
FUND PAYS
29. How much will the Real Estate Recovery Fund pay out?: Cover all court costs up to
$50,000
30. Which of these helped stop racial discrimination in RE? (#37): Civil Rights Act of 1866
31. A neighbor who starts rumors about a neighborhood to persuade owners to
sell is? (#52): Blockbusting
32. A developer have more than 100 lots, which bureau does ILSA work with?
(#81): Consumer Financial Protection Bureau
33. If you rent something where do you put the deposit? (#89): Escrow Account
2/5
Study online at https://quizlet.com/_hpx856
1. Comparative Market Analysis (CMA): Marketing tool and may not be referred to or represented
as an appraisal
2. Follow UP: Whats sales associates do for buyers and sellers after the sale
3. Which is NOT a category of real estate licenses question? These 3 are: Sales
Associate; Broker; Broker Associate
4. Which does NOT need to be disclosed for Background Check?: Parking, Speeding,
inspections, or traffic signal violations
5. What is required by Mutual Recognition applicants?: 75% or higher required to pass exam
6. How long is a license valid on a real estate application?: 2 years
7. Who is exempt from having Real Estate License?: A person who has been given POA
8. What power does FREC have? (#31): Quasi-Judical
9. The DBPR may issue a temporary real estate license to which? (#25): Spouse of
active duty who transfers to Florida expires after 6 months and is NOT Renewable
10. A person who no longer wants to engage in the real estate business can
voluntarily relinquish or cancel the license, provided there is no investigation
or disciplinary proceeding pending against the license (#79): True Statement
11. Broker who qualifies as the broker for more than one business entity?: Multiple
Licenses
12. How should a buyer respond to a for-sale-by-owner?: Caveat Emptor ( buyer beware)
13. How long must Brokers retain Disclosure Documents?: 5 years in a secured location
14. What happens in a non-residential real estate transaction where the buyer
and the seller each have 1 million or more in assets?: The broker will assign two sales
associates in such an arrangement and they are called designated sales associates
15. A brokerage relationship b/w a principal (or a customer) and a broker may
be terminated by: (Is a NOT Question on Test): Death of a sellers broker or the seller before the
broker finds a ready, willing and able buyer.
Death of the buyers brokers or the buyer before the broker finds a suitable property for the buyer
Destruction of the property
Bankruptcy of the principal or the customer
16. What don't you have to put on an office sign?: The names of the sales and brokers associates
are not required but the Trade name or Brokers name is required
1/5
, Final Test Questions (Bob Hogue 2017)
Study online at https://quizlet.com/_hpx856
17. Which of the following is a true statement about Florida Telemarketing?: Vio-
lators may be fined $10,000 per call
18. When a sales associate receives an earnest money deposit what must he
do?: Give to the broker w/n 24 hours and then the Broker has 3 business days to put into an escrow account
19. With in how many days must a Broker notify the commission about an
EDO?: 10 business days
20. Sale a used condo give buyer the docs. After they receive the docs how many
days do they have to cancel? (Test Question #61): Answer is 2 Days!!
21. What is it called when competing brokers conspire to establish the same
commission? (#76): Price Fixing
22. Brokers can not pay an unlicensed person a commission but can do what?
(#20): Can pay them no more the $50
23. What does not need to register as an Real Estate Broker? (#84): Corporation Sole
(church)
24. What needs to be done when filing a complaint?: Must be in writing
Must be legally sufficient
25. FREC gives suspension request what is it called?: Stay of enforcement
26. Complaint that required refund of money. What cant they do?: FREC does not have
the authority to order RESTITUTION
27. How many days must a licensee take action to correct a notice of compli-
ance?: 15 days
28. Claims resulting from an EDO what can NOT happen?: FREC CAN NOT PAY RE RECOVERY
FUND PAYS
29. How much will the Real Estate Recovery Fund pay out?: Cover all court costs up to
$50,000
30. Which of these helped stop racial discrimination in RE? (#37): Civil Rights Act of 1866
31. A neighbor who starts rumors about a neighborhood to persuade owners to
sell is? (#52): Blockbusting
32. A developer have more than 100 lots, which bureau does ILSA work with?
(#81): Consumer Financial Protection Bureau
33. If you rent something where do you put the deposit? (#89): Escrow Account
2/5
