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Gold Coast Review Question Set With Accurate Answers

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2026/2027 Written for academic year
Institution GOLD COAST
Course GOLD COAST
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Gold Coast Review Question Set With Accurate Answers

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GOLD COAST REVIEW QUESTION SET
WITH ACCURATE ANSWERS

◉ General Partnership
Answer: Business formation in which two or more people agree to
share profits or losses of a business


◉ Real estate broker partnership
Answer: At least One broker licensed as an active broker and be
registered with department


◉ Active licensed broker
Answer: Limited partnership with at least one general partner
that is a licensed broker


◉ joint venture
Answer: Temporary business that involves a single transaction


◉ Corporation for profit
Answer: Inc, corp , corporation


◉ Corporation sole
Answer: Church/Religious organizations

, May not register as a Real Estate Brokerage Corporation.


◉ Cooperative Association
Answer: may buy , sell and lease real estate for its own use -
cannot register as a real estate brokerage corporation


◉ Following businesses may not register to broker real estate
Answer: Joint venture, corporation sole, cooperative association,
business trust, unincorporated association


◉ First degree misdemeanor
Answer: One year and $1000


◉ Second degree misdemeanor
Answer: For example :false advertising
$500- or 60 days


◉ Third degree felony
Answer: 5years and or $5,000 example: practicing without license


◉ Concealment
Answer: Broker fails to disclose information to party


◉ cupable negligence

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