Chapter 1 Review Questions & Practice Exam 45 hr Post licensing Que & Ans

Farming - ANS Specializing in one type of property or on one particular neighborhood is a practice referred to as The sale of any improved residential property 4 units or fewer, including condo units, unimproved property intended for 4 units or fewer, agricultural properties 10 acres or less, leases with options to purchase all or airtime of improved property of 4 or fewer res. Units and disposition of business interest in 4 unit bldg - ANS A residential transaction is defined as Industrial sales - ANS A business specialization where licensees assist customers in locating and purchasing or leasing warehouse or manufacturing facilities. NAR Realtor - ANS A large national organization of real estate professionals whose members are entitled to use the trademark of -----/ NAR Code of Ethics - ANS Code established to promote a higher standards of conduct in yhe real estate profession han rhe law provides. Clients and customers the public and other real estate licensees - ANS The NAR code ethics and the duties of realtors. Valuation marketing and property transfer - ANS Real estate professionals are expected to have expert knowledge in these areas Multiple listing service - ANS This system provide a detail database of properties of all kinds which are available for sale or lease and is a critical resource for the success of your business Appraisals must always be performed according to USPAP - ANS The following statement regarding property valuation is correct 50 unit motel - ANS This is not considered a residential property according to the Florida statutes Florida realtors * - ANS This is not a real estate trade organization Property management - ANS What area of real estate deals with absentee owners who by income producing properties as an investment 475 - ANS This chapter of the Florida statutes is the law that specifically regulates real estate licensees schools and appraisers Reprimand fine probation suspension revocation or denial - ANS The purpose of rule 61J to provide the orders of penalties ranging from lowest to highest 45 - ANS All sales associates with her active or inactive my satisfactory complete a Frecon approved post license course that contains how many hours of education prior to their license expiration date Fraudulent faults deceptive misleading - ANS Advertisements may not be the following The end of business day - ANS Sales associate who receive the deposit must deliver to the broker or employer no later then how many days following this the receipt of the item to be deposited