©THEBRIGHT EXAM STUDY SOLUTIONS 8/26/2024 11:32 AM
Unit 2 Bob Hogue Real Estate Exam Study
Guide.
Florida Statute 20. Chapter 20 - answer✔✔*Organizational Structure*, establishes the structure
of the executive branch of Florida's government. The Florida Constitution provides for the
*legislative, executive, and judicial branches of government*. The executive branch executes the
programs and policies adopted by the Legislature. The policies are *implemented by* the
departments of the *executive branch*, including the Department of Business and Professional
Regulation (*DBPR*).
Florida Statute Chapter 475 - answer✔✔Often referred to as *Real estate Professional Practice
Act* created by FL Legislature to establish the legal rights and responsibilities of real estate
licensees and real estate appraisers.
Chapter 475 is divided into four (4) parts.
Part I of Chapter 475: - answer✔✔Pertains to *Real Estate Brokerage*
Real estate licensees are *responsible* for *knowing* the *provisions* of this chapter. The
Florida Real Estate Commission (*FREC*) *implements, interprets, and enforces* the regulatory
provisions of Chapter 475.
Part II of Chapter 475 - answer✔✔Pertains to *Real estate appraisers*
Sets forth the requirements for licensed and certified appraisers according to federal statute.
The Florida Real Estate Appraisal Board (*FREAB*) - answer✔✔Regulates *state-certified,
licensed, & registered trainee appraisers*.
A state-certified or licensed appraiser *must* prepare an appraisal that involves a *federally
related* transaction.
, ©THEBRIGHT EXAM STUDY SOLUTIONS 8/26/2024 11:32 AM
The FREAB functions very similarly to The Florida Real Estate Commission (FREC). Both
quasi-judicial bodies follow the same procedures for *disciplining licensees*.
The Florida Real Estate Commission (FREC) - answer✔✔The Florida Legislature created this
organization to administer and enforce license law, authority to keep records, conduct
investigations, and the power to grant, deny, suspend, and revoke licenses.
The Florida Real Estate Commission (FREC) *implements, interprets, and enforces the
regulatory provisions* of Chapter 475.
Part III of Chapter 475 - answer✔✔Pertains to Commercial Real Estate *Sales* Commission
Lien Act
Gives a broker lien rights for earned commission. This act *applies only* to commercial
property (*not* residential property). The lien is *only* against the owner's net proceeds
(personal property) from the sale and does *not* attach to the commercial real property (also see
"Liens on Real Property" in Unit 5).
Part IV of Chapter 475 - answer✔✔Pertains to *The Commercial Real Estate Leasing
Commission Lien Act*
Gives a broker lien rights for earned commission associated with a *brokerage agreement* to
*lease* commercial real estate.
Chapter 455, Florida Statute - answer✔✔Pertains to *Business and Professional Regulation*
General Provisions, defines the general legal practice and procedure for the DBPR and the
licensees of all professions regulated by the DBPR, including real estate.
*Section 455.10* of the statute provides that an individual cannot be disqualified from practicing
an occupation or profession regulated by the State of Florida solely because the person is not a
U.S. citizen.
Another section of this statute sets forth laws regarding Commission and board organization,
meetings, compensation, and so forth.
Unit 2 Bob Hogue Real Estate Exam Study
Guide.
Florida Statute 20. Chapter 20 - answer✔✔*Organizational Structure*, establishes the structure
of the executive branch of Florida's government. The Florida Constitution provides for the
*legislative, executive, and judicial branches of government*. The executive branch executes the
programs and policies adopted by the Legislature. The policies are *implemented by* the
departments of the *executive branch*, including the Department of Business and Professional
Regulation (*DBPR*).
Florida Statute Chapter 475 - answer✔✔Often referred to as *Real estate Professional Practice
Act* created by FL Legislature to establish the legal rights and responsibilities of real estate
licensees and real estate appraisers.
Chapter 475 is divided into four (4) parts.
Part I of Chapter 475: - answer✔✔Pertains to *Real Estate Brokerage*
Real estate licensees are *responsible* for *knowing* the *provisions* of this chapter. The
Florida Real Estate Commission (*FREC*) *implements, interprets, and enforces* the regulatory
provisions of Chapter 475.
Part II of Chapter 475 - answer✔✔Pertains to *Real estate appraisers*
Sets forth the requirements for licensed and certified appraisers according to federal statute.
The Florida Real Estate Appraisal Board (*FREAB*) - answer✔✔Regulates *state-certified,
licensed, & registered trainee appraisers*.
A state-certified or licensed appraiser *must* prepare an appraisal that involves a *federally
related* transaction.
, ©THEBRIGHT EXAM STUDY SOLUTIONS 8/26/2024 11:32 AM
The FREAB functions very similarly to The Florida Real Estate Commission (FREC). Both
quasi-judicial bodies follow the same procedures for *disciplining licensees*.
The Florida Real Estate Commission (FREC) - answer✔✔The Florida Legislature created this
organization to administer and enforce license law, authority to keep records, conduct
investigations, and the power to grant, deny, suspend, and revoke licenses.
The Florida Real Estate Commission (FREC) *implements, interprets, and enforces the
regulatory provisions* of Chapter 475.
Part III of Chapter 475 - answer✔✔Pertains to Commercial Real Estate *Sales* Commission
Lien Act
Gives a broker lien rights for earned commission. This act *applies only* to commercial
property (*not* residential property). The lien is *only* against the owner's net proceeds
(personal property) from the sale and does *not* attach to the commercial real property (also see
"Liens on Real Property" in Unit 5).
Part IV of Chapter 475 - answer✔✔Pertains to *The Commercial Real Estate Leasing
Commission Lien Act*
Gives a broker lien rights for earned commission associated with a *brokerage agreement* to
*lease* commercial real estate.
Chapter 455, Florida Statute - answer✔✔Pertains to *Business and Professional Regulation*
General Provisions, defines the general legal practice and procedure for the DBPR and the
licensees of all professions regulated by the DBPR, including real estate.
*Section 455.10* of the statute provides that an individual cannot be disqualified from practicing
an occupation or profession regulated by the State of Florida solely because the person is not a
U.S. citizen.
Another section of this statute sets forth laws regarding Commission and board organization,
meetings, compensation, and so forth.
