45 Hour Post License Florida Exam Questions And Answers 100% Verified

45 Hour Post License Florida Exam Questions And Answers 100% Verified Farming - answerConcentrating 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 - answerowners 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 - answerUniform 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 ________. - answer1. The National Association of Realtors (NAR) 2. Code of Ethics The largest trade association in the state is _________ - answerThe Florida Association of Realtors (FAR) The duties required by the Code of Ethics are: - answer1. 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: - answer1. 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 - answerdescription of a desired outcome that excites, motivates, and helps you to create a mental picture of your business goal. Industrial Sales or Leasing - answerinclude 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 _________ - answerF.S. 475 The Range Of Penalties for disobeying FS 475 or 455 from lowest to highest is: - answerReprimand, fine, probation, suspension, and revocation or denial. Which is the maximum penalty for disobeying laws under FS 455 or FS 475 - answerRevocation 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 ____ - answervoid 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. - answer10 Advertisements may not be - answerfraudulent, false, deceptive, or misleading. Advertising false, inaccurate, misleading or exaggerated information could result in ____________ - answerthe issuance of a citation and a fine of $500 A sales associate who receives a deposit must deliver it to the broker or employer no later than - answerthe end of the business day following the receipt of the item to be deposited A sales associate may not collect money in connection with a real estate transaction except - answerin the name of the employer (cannot be payed by buyer or seller) A sales associate receives compensation only from his or her ______. A sales associate can however be paid a portion of a commission by a closing agent if such instructions have been provided in writing by the _____. - answer1. broker 2. broker Single agents are held accountable for what four specific duties? - answer1. Confidentiality 2. Obedience