45-Hour Post-Licensing Course
⏹ Farming Answer: Concentrating on one type of style of property or on
one particular neighborhood
⏹ A residential transaction os defined in F.S. 475 as the sale of any:
Answer: - Duplex
- improved residential property of four units or fewer, including
condominium units
-unimproved property intended for four units or fewer
- agricultural properties of ten acres or less
- leases with options to purchase all or a portion of improved property of
four or fewer residential units
- dispositions of business interests for property of four or fewer
residential units
⏹ absentee owners Answer: owners who buy income property as
investments and depend on professionals to manage them
⏹ All appraisals, whether performed by a licensed appraiser or a real
estate licensee, must be developed and reported in conformity with the
Answer: Uniform Standards of Professional Appraisal Practice (USPAP)
⏹ The largest and most prestigious real estate organization in the world
is ________. They work for legislation enforce professional standards of
,conduct through its ________. Answer: 1. The National Association of
Realtors (NAR)
2. Code of Ethics
⏹ The largest trade association in the state is _________ Answer: The
Florida Association of Realtors (FAR)
⏹ The duties required by the Code of Ethics are: Answer: 1. Duties to
clients and customers
2. Duties to the public in general
3. Duties to other real estate licensees
⏹ Required Skills for the Real estate professional are: Answer: 1.
Valuation - Must be able to discern important differences between
properties and know ho to translate those differences into value. Must be
able to conduct a CMA.
2. Marketing - must have an understanding of the tools and technologies
available to market a property.
3. Property Transfer - understand how to close a transaction
⏹ Mission Statement Answer: description of a desired outcome that
excites, motivates, and helps you to create a mental picture of your
business goal.
, ⏹ Industrial Sales or Leasing Answer: include warehouses and
manufacturing facilities. Industrial sales and leasing generally involve
user/owners, rather than investors.
⏹ The law that specifically regulates real estate licensees, schools, and
appraisers is _________ Answer: F.S. 475
⏹ The Range Of Penalties for disobeying FS 475 or 455 from lowest to
highest is: Answer: Reprimand, fine, probation, suspension, and
revocation or denial.
⏹ Which is the maximum penalty for disobeying laws under FS 455 or
FS 475 Answer: Revocation or denial of license
⏹ If the licensee does not complete the 45 hour course before the
expiration date of their first renewal, the license becomes ____ Answer:
void and the licensee will be out of business. (have to start over
everything)
⏹ When a sales associate changes employers, they must notify the
Commission of the change no later than ________ days after the change
by using the form provided by the commission. Answer: 10
⏹ Advertisements may not be Answer: fraudulent, false, deceptive, or
misleading.
⏹ Farming Answer: Concentrating on one type of style of property or on
one particular neighborhood
⏹ A residential transaction os defined in F.S. 475 as the sale of any:
Answer: - Duplex
- improved residential property of four units or fewer, including
condominium units
-unimproved property intended for four units or fewer
- agricultural properties of ten acres or less
- leases with options to purchase all or a portion of improved property of
four or fewer residential units
- dispositions of business interests for property of four or fewer
residential units
⏹ absentee owners Answer: owners who buy income property as
investments and depend on professionals to manage them
⏹ All appraisals, whether performed by a licensed appraiser or a real
estate licensee, must be developed and reported in conformity with the
Answer: Uniform Standards of Professional Appraisal Practice (USPAP)
⏹ The largest and most prestigious real estate organization in the world
is ________. They work for legislation enforce professional standards of
,conduct through its ________. Answer: 1. The National Association of
Realtors (NAR)
2. Code of Ethics
⏹ The largest trade association in the state is _________ Answer: The
Florida Association of Realtors (FAR)
⏹ The duties required by the Code of Ethics are: Answer: 1. Duties to
clients and customers
2. Duties to the public in general
3. Duties to other real estate licensees
⏹ Required Skills for the Real estate professional are: Answer: 1.
Valuation - Must be able to discern important differences between
properties and know ho to translate those differences into value. Must be
able to conduct a CMA.
2. Marketing - must have an understanding of the tools and technologies
available to market a property.
3. Property Transfer - understand how to close a transaction
⏹ Mission Statement Answer: description of a desired outcome that
excites, motivates, and helps you to create a mental picture of your
business goal.
, ⏹ Industrial Sales or Leasing Answer: include warehouses and
manufacturing facilities. Industrial sales and leasing generally involve
user/owners, rather than investors.
⏹ The law that specifically regulates real estate licensees, schools, and
appraisers is _________ Answer: F.S. 475
⏹ The Range Of Penalties for disobeying FS 475 or 455 from lowest to
highest is: Answer: Reprimand, fine, probation, suspension, and
revocation or denial.
⏹ Which is the maximum penalty for disobeying laws under FS 455 or
FS 475 Answer: Revocation or denial of license
⏹ If the licensee does not complete the 45 hour course before the
expiration date of their first renewal, the license becomes ____ Answer:
void and the licensee will be out of business. (have to start over
everything)
⏹ When a sales associate changes employers, they must notify the
Commission of the change no later than ________ days after the change
by using the form provided by the commission. Answer: 10
⏹ Advertisements may not be Answer: fraudulent, false, deceptive, or
misleading.
