Gold Coast Real Estate Final Exam Study Guide (only contains highlights from Ch's 1, 2,3,4 and some of 11)

Real Estate Brokerage (Ch. 1) - ANSWER - A business in which real estate-related activities are performed under the authority of a licensed real estate broker Farming (Ch. 1) - ANSWER - concentrating on one type or style of property in one particular area of neighborhood Property Transfer, Valuation & Marketing (Ch. 1) - ANSWER - areas of expert knowledge that are required for all real estate licensees Residential Transaction (Ch. 1) - ANSWER - F.S 475 The sale of any improved residential property of 4 units or fewer. Unimproved property intended for 4 units or fewer. Agricultural properties 10 acres or less Tract Building (Ch. 1) - ANSWER - when a developer acquires a large tract of land, records a subdivision plat map, and uses a model center from which sales may be made Local Level of Government (Ch. 1) - ANSWER - control planning and zoning, property taxation, building and health code regulations also impose a moratorium or temporary delay for a building project building permits would be held until the situations are corrected Florida Real Estate License Law F.S 475 (Ch. 2) - ANSWER - the purpose is to protect the public Commission (Ch. 2) - ANSWER - Florida Real Estate Commission (FREC) Department (Ch. 2) - ANSWER - Department of Business and Professional Regulation (DBPR) Licensee (Ch. 2) - ANSWER - any person that has a permit, registration, certificate, or license that's issued by the Department Sales Associate (Ch. 2) - ANSWER - a person who performs real estate activities while employed by a licensed real estate broker Broker (Ch. 2) - ANSWER - a person who performs services of real estate for another and receives compensation for those services either directly or indirectly A sales associate who wishes to a broker must: (Ch. 2) - ANSWER - have been employed under one or more actively licensed brokers for at least 24 months within the previous 5 years Broker Associate (Ch. 2) - ANSWER - an applicant to become a "broker associate" may chose to continue employment in a sales associate position with current employer after passing the exam but will be registered under a "broker associate" after passing the exam an individual who meets the requirements of a broker but who chooses to work in real estate under the direction (employ) of another broker. An applicant for a Florida real estate license is not required to be a: (Ch. 2) - ANSWER - resident of Florida or be a citizen of the U.S The question that requires the disclosure of any criminal convictions, including felony or misdemeanor convictions or pleas (other than traffic