Chapter 5 Gold Coast Real Estate Homework
Exam Questions and Answers with Verified
Solutions | Latest Updated 2026
A sales associate licensed with (b) A stockholder
a real estate brokerage
corporation can be which of
the following?
(a) An officer
(b) A stockholder
(c) A director
(d) An officer and a director
Six individuals decide to form (a) The partnership must be registered
a real estate brokerage with the Commission, and all six partners
partnership. All six individuals must be active real estate brokers.
are planning to be active in
real estate sales. Which
statement best applies?
(a) The partnership must be
registered with the
Commission,
and all six partners must be
active real estate brokers.
(b) At least one partner must
be licensed as an active
broker.
(c) Only two partners must
have a real estate license.
(d) A partnership cannot be
formed as a brokerage
business.
,Which of the following (b) The broker associate may make
statements is correct earnest money deposits with the broker's
regarding a licensed broker permission.
associate who is with a real
estate brokerage partnership?
(a) The broker associate may
be a member of the
partnership.
(b) The broker associate may
make earnest money deposits
with the broker's permission.
(c) The broker associate must
hold an active broker's
license.
(d) The broker associate may
not provide real estate
brokerage services to others.
All of the following business (c) Corporation sole
formations can register to
conduct real estate
transactions, EXCEPT:
(a) Corporation for profit
(b) Not-for-profit corporation
(c) Corporation sole
(d) Limited partnership
, If a broker has conflicting (d) Notify the Florida Real Estate
demands on money held in Commission in writing.
escrow, what is the first thing
the broker should do?
(a) Consult with a real estate
attorney who is experienced in
handling escrow problems.
(b) Refer the parties to FREC.
(c) Give the escrow money to
the closing agent.
(d) Notify the Florida Real
Estate Commission in writing.
If a sales associate receives a (a) The sales associate should deliver the
post-dated check, which of check to her employing broker by the
the following actions is the end of then next business day.
most appropriate?
(a) The sales associate should
deliver the check to her
employing broker by the end
of then next business day.
(b) The sales associate should
refuse to submit the offer
without a cashier's check.
(c) The sales associate should
hold the check, and give the
check to her employing broker
when it becomes valid.
(d) The sales associate should
cash the check, and deposit
the funds into her broker's
escrow account.
Exam Questions and Answers with Verified
Solutions | Latest Updated 2026
A sales associate licensed with (b) A stockholder
a real estate brokerage
corporation can be which of
the following?
(a) An officer
(b) A stockholder
(c) A director
(d) An officer and a director
Six individuals decide to form (a) The partnership must be registered
a real estate brokerage with the Commission, and all six partners
partnership. All six individuals must be active real estate brokers.
are planning to be active in
real estate sales. Which
statement best applies?
(a) The partnership must be
registered with the
Commission,
and all six partners must be
active real estate brokers.
(b) At least one partner must
be licensed as an active
broker.
(c) Only two partners must
have a real estate license.
(d) A partnership cannot be
formed as a brokerage
business.
,Which of the following (b) The broker associate may make
statements is correct earnest money deposits with the broker's
regarding a licensed broker permission.
associate who is with a real
estate brokerage partnership?
(a) The broker associate may
be a member of the
partnership.
(b) The broker associate may
make earnest money deposits
with the broker's permission.
(c) The broker associate must
hold an active broker's
license.
(d) The broker associate may
not provide real estate
brokerage services to others.
All of the following business (c) Corporation sole
formations can register to
conduct real estate
transactions, EXCEPT:
(a) Corporation for profit
(b) Not-for-profit corporation
(c) Corporation sole
(d) Limited partnership
, If a broker has conflicting (d) Notify the Florida Real Estate
demands on money held in Commission in writing.
escrow, what is the first thing
the broker should do?
(a) Consult with a real estate
attorney who is experienced in
handling escrow problems.
(b) Refer the parties to FREC.
(c) Give the escrow money to
the closing agent.
(d) Notify the Florida Real
Estate Commission in writing.
If a sales associate receives a (a) The sales associate should deliver the
post-dated check, which of check to her employing broker by the
the following actions is the end of then next business day.
most appropriate?
(a) The sales associate should
deliver the check to her
employing broker by the end
of then next business day.
(b) The sales associate should
refuse to submit the offer
without a cashier's check.
(c) The sales associate should
hold the check, and give the
check to her employing broker
when it becomes valid.
(d) The sales associate should
cash the check, and deposit
the funds into her broker's
escrow account.
