Gold Coast Real Estate Exam Questions and Answers 100% Pass

Gold Coast Real Estate Exam Questions and Answers 100% Pass Tract building - Correct Answer ️️ -When a dev. Acquired land, records a plat map and uses a model center from which sales may be made Local level - Correct Answer ️️ -Planning, zoning, property taxation, building and health codes and regulations, and building moratoriums that affect development play a significant role in the cost and desirability of real estate Broker associate - Correct Answer ️️ -A licensed broker working for another broker False - Correct Answer ️️ -A florida real estate license applicant must be a resident and citizen (true or false) Application Denial - Correct Answer ️️ -You have 21 days to send a formal letter to the department for a hearing if: One - Correct Answer ️️ -How mang brokers can a sales or broker associate work for Post license requirements - Correct Answer ️️ -No grace period Sales associate first renewal - Correct Answer ️️ -No grace period Exempt from licensure - Correct Answer ️️ -Attorney in fact/ Attorney at Law Attorneys at law - Correct Answer ️️ -My perform legal services on behalf ofntheir clients; they may prepare documents, handle closings, and give legal advice. Involuntary inactive - Correct Answer ️️ -An individual who does not request renewal of their second or subsequent lecense, pay the required fees, or maintain their continuing education requirements will have their license placed in 2 years - Correct Answer ️️ -A license may remain in involuntary inactive status for no longer than Special Agent - Correct Answer ️️ -A special agent is authorized under agency law by the employer to perform a single act. The employment contract between the employer and agent establishes the limit of authority granted Presenting offers - Correct Answer ️️ -A broker has a buty to transmit any and all offers to the employer including oral offers or offers made without a binder deposit Limited - Correct Answer ️️ -A transaction broker provides what kind of representation Single agent - Correct Answer ️️ -this agency relationship is created when a broker accepts employment under a single agency agreement. A broker may represent a seller or buyer , or a landlord or tenant. Principal - Correct Answer ️️ -In a single agency relationship, the employer becomes the For sale By owner - Correct Answer ️️ -Non Representation or (No Brokerage Relationship can also be called) FSBO - Correct Answer ️️ -For sale by owner can also be called Stationary Construction - Correct Answer ️️ -An active broker is required to have this open which must be registered with the department of Business and Professional Regulation where Negotiations and the closing of real estate transactions can be conducted with privacy Others - Correct Answer ️️ -Licencees should make clear that they are dealing on their own account and not acting on the behalf of Public - Correct Answer ️️ -Licencees should make known their status as licencees to members of the Serious negotiations - Correct Answer ️️ -This Disclosure should be made prior to entering into Deposit - Correct Answer ️️ -A form of Money, personal property, real property, or anything of value that is capable of being converted into cash. Closing - Correct Answer ️️ -Typically the deposit is intended as partial payment of the purchase price at? Post dated checks - Correct Answer ️️ -Are considered to be promissory notes and can be accepted as earnest money with the seller's approval. True - Correct Answer ️️ -When a deposit is placed, or is to be placed, with a title company or an attorney, the licensee who prepared or presented the sales contract must indicate on that contract the name, address, and telephone number of the title company or attorney with whom the deposit was placed (True or False) Escrow or trust account - Correct Answer ️️ -May be held in a commercial bank, title company which has trust powers, credit union, or savings and loan association located in the state of Florida cannot - Correct Answer ️️ -The escrow account ______ be held in a stock or bond brokerage house Commingle - Correct Answer ️️ -A broker is not allowed to _________ or deposit the personal funds of any person with any funds being held in escrow, trust or on condition Next business day - Correct Answer ️️ -A sales associate or broker associate who receives an earnest money deposit on behalf of his or her employer must deliver the deposit to the employer no later than the _________________ following the receipt True - Correct Answer ️️ -A broker must immediately place the earnest money deposit in a escrow or trust account. (True or False) Immadiately - Correct Answer ️️ -Defined as "No later than the end of the third business day following receipt" escrow dispute - Correct Answer ️️ -Conflicting requests in which both the buyer and the seller demand that the broker release escrowed funds is