GOLD COAST REAL ESTATE SETS UPDATED EXAM
QUESTIONS AND ANSWERS GRADED A+
✔✔Answering Background Questions - ✔✔Requires the disclosure of ANY criminal
convictions, including felony or misdemeanor convictions or pleas (other than minor
traffic offenses), regardless of adjudication.
✔✔Application Denial - ✔✔1. Applicant will be notified in writing.
2. Notification will identify the reasons for the denial
3. Advise the applicant that he or she has 21 days from the date of receipt to request a
formal hearing before an administrative law judge
✔✔Temporary License for military spouses - ✔✔Spouses of active duty service member
to a duty station in Florida can practice their current profession for up to six months
under a temporary, non-renewable license.
✔✔Employment by a broker - ✔✔A sales associate or broker associate cannot receive
compensation for performing real estate services from anyone other than his or her
employing broker. A sales associate or broker associate can only work for one broker at
a time.
✔✔Employment by an owner-developer - ✔✔The owner-developer must register with
the department but does not receive a Real Estate license.
✔✔Sales associate first renewal - ✔✔The license of a sales associate who fails to
complete this requirement will become void and the licenses will be out of business.
✔✔Attorneys-in-fact - ✔✔Persons who are granted authority under a power of attorney
to act for others in some capacity, such as signing documents.
✔✔Salaried employees - ✔✔Of an owner or a registered broker for an owner, of an
apartment community who work in an onsite rental office of the apartment community in
a leasing capacity. A tenant in an apartment community may receive up to $50 cash,
personal property, or credit toward rent for the referral of a new tenant for the same
complex.
✔✔Powers of the commission - ✔✔The executive powers can be exercised by the
chairperson acting alone or can be delegated by quorum vote to any other Commission
member.
✔✔Disciplinary Authority of the Commission - ✔✔A licensee who is found to be guilty of
a violation may receive one of the following disciplinary actions,
1. Be issued a reprinted or an administrative fine up to $5,000 per offense
2. Be placed on probation
3. Have their license suspended for up to 10 years or permanently revoked.
, ✔✔First renewal - ✔✔Page 41-38-40. Failure to do so will result in a null and void
license status. When the license status is null and void, a sales associate may not
practice real estate and must obtain a new initial license to re-enter the real estate
profession.
✔✔Void and Ineffective Licenses - ✔✔If a broker's license is suspended, revoked or
otherwise void or ineffective, the licenses of all persons who are employed under such
broker become automatically inactive.
✔✔Group License - ✔✔Is a single real estate license that can be obtained if the sales
associate or broker associate works for one owner-developer with affiliated
organizations, which provides real estate services in different geographic areas.
✔✔Multiple Licenses - ✔✔A broker can be issued additional licenses in two or more
capacities by requesting multiple licenses.
✔✔DBPR - ✔✔Department of Business and Professional Regulation
✔✔F.S 455 - ✔✔Created DBPR
✔✔F.S. 475 - ✔✔Florida Real Estate Commission in 1925
✔✔Special agent - ✔✔Is authorized under agency law by the employer to perform a
single act.
✔✔Subagent - ✔✔Sales associate
pg. 51-53
pg. 52-1-3
✔✔Presenting Offers - ✔✔A broker has a duty to transmit any and all offers to the
employer including oral offers or offers made without a binder deposit.
✔✔Single Agent [F.S.475.278(3)] - ✔✔A broker may represent a seller or a buyer, or a
landlord or tenant. Any attempt to represent both parties in a transaction would create
an illegal dual agency. [F.S. 475.01 (k)]
In a single agency relationship, the employer becomes the principle, who authorizes the
broker as agent to perform certain services on his or her behalf.
✔✔Principal Office Requirements - ✔✔Office must consist of at least one enclosed
room in a building of stationary construction where negotiations and the closing of real
estate transactions can be conducted with privacy.
Page 72-25-27
QUESTIONS AND ANSWERS GRADED A+
✔✔Answering Background Questions - ✔✔Requires the disclosure of ANY criminal
convictions, including felony or misdemeanor convictions or pleas (other than minor
traffic offenses), regardless of adjudication.
✔✔Application Denial - ✔✔1. Applicant will be notified in writing.
2. Notification will identify the reasons for the denial
3. Advise the applicant that he or she has 21 days from the date of receipt to request a
formal hearing before an administrative law judge
✔✔Temporary License for military spouses - ✔✔Spouses of active duty service member
to a duty station in Florida can practice their current profession for up to six months
under a temporary, non-renewable license.
✔✔Employment by a broker - ✔✔A sales associate or broker associate cannot receive
compensation for performing real estate services from anyone other than his or her
employing broker. A sales associate or broker associate can only work for one broker at
a time.
✔✔Employment by an owner-developer - ✔✔The owner-developer must register with
the department but does not receive a Real Estate license.
✔✔Sales associate first renewal - ✔✔The license of a sales associate who fails to
complete this requirement will become void and the licenses will be out of business.
✔✔Attorneys-in-fact - ✔✔Persons who are granted authority under a power of attorney
to act for others in some capacity, such as signing documents.
✔✔Salaried employees - ✔✔Of an owner or a registered broker for an owner, of an
apartment community who work in an onsite rental office of the apartment community in
a leasing capacity. A tenant in an apartment community may receive up to $50 cash,
personal property, or credit toward rent for the referral of a new tenant for the same
complex.
✔✔Powers of the commission - ✔✔The executive powers can be exercised by the
chairperson acting alone or can be delegated by quorum vote to any other Commission
member.
✔✔Disciplinary Authority of the Commission - ✔✔A licensee who is found to be guilty of
a violation may receive one of the following disciplinary actions,
1. Be issued a reprinted or an administrative fine up to $5,000 per offense
2. Be placed on probation
3. Have their license suspended for up to 10 years or permanently revoked.
, ✔✔First renewal - ✔✔Page 41-38-40. Failure to do so will result in a null and void
license status. When the license status is null and void, a sales associate may not
practice real estate and must obtain a new initial license to re-enter the real estate
profession.
✔✔Void and Ineffective Licenses - ✔✔If a broker's license is suspended, revoked or
otherwise void or ineffective, the licenses of all persons who are employed under such
broker become automatically inactive.
✔✔Group License - ✔✔Is a single real estate license that can be obtained if the sales
associate or broker associate works for one owner-developer with affiliated
organizations, which provides real estate services in different geographic areas.
✔✔Multiple Licenses - ✔✔A broker can be issued additional licenses in two or more
capacities by requesting multiple licenses.
✔✔DBPR - ✔✔Department of Business and Professional Regulation
✔✔F.S 455 - ✔✔Created DBPR
✔✔F.S. 475 - ✔✔Florida Real Estate Commission in 1925
✔✔Special agent - ✔✔Is authorized under agency law by the employer to perform a
single act.
✔✔Subagent - ✔✔Sales associate
pg. 51-53
pg. 52-1-3
✔✔Presenting Offers - ✔✔A broker has a duty to transmit any and all offers to the
employer including oral offers or offers made without a binder deposit.
✔✔Single Agent [F.S.475.278(3)] - ✔✔A broker may represent a seller or a buyer, or a
landlord or tenant. Any attempt to represent both parties in a transaction would create
an illegal dual agency. [F.S. 475.01 (k)]
In a single agency relationship, the employer becomes the principle, who authorizes the
broker as agent to perform certain services on his or her behalf.
✔✔Principal Office Requirements - ✔✔Office must consist of at least one enclosed
room in a building of stationary construction where negotiations and the closing of real
estate transactions can be conducted with privacy.
Page 72-25-27
