FL Pre-License Sales Cours (FREC
Course 1) Exam Study
title - correct answer collection of rights person has in ownership of real property
alienation - correct answer transfer
By Operation of Law - correct answer the courts have intervened
Condemnation - correct answer court action used when right of eminent domain is exercised
Lis Pendens - correct answer pending litigation
Opinion of Title - correct answer title meets all ownership needs and has no questions in its history
Abstract - correct answer history
Cloud - correct answer question about the title
Certificate of Title - correct answer Attorney issued; indicates all problems have been cleared and title
company can issue Title Insurance
Deed - correct answer document which passes ownership from the grantor to the grantee
Parts of a Deed - correct answer Premises
Habendum
Testimonium
,The FREC shall consist of _____ members. - correct answer 7
_____ members of the FREC must be licensed brokers, each of whom has held an active license for the
_____ years preceding appointment. - correct answer 4; 5
Members of the FREC shall be appointed for ____ - year terms. - correct answer 4
One member of the FREC must be a licensed broker or a licensed sales associate who has held an active
license for the ____ years preceding appointment. - correct answer 2
At least one member of the commission must be _____ years or older. - correct answer 60
All services concerning Chapter 475 F.S., including, but not limited to, recordkeeping services,
examination services, legal services, and investigative services, and those services in Chapter 455 F.S.
necessary to perform the duties of this chapter shall be provided by the ________ of _________
________. - correct answer Division of Real Estate
The DRE is funded by fees and assessments of the _____. - correct answer FREC
How long can the Commission deny an application for licensure, registration, or permit, or renewal
thereof? - correct answer 10 Years
How long can the Commission place a licensee, registrant, or permittee on probation? - correct answer
10 Years
How long can the Commission suspend a license, registration, or permit? - correct answer 10 Years
The Commission can impose administrative fines of up to $______ for each count or separate offense. -
correct answer $5,000
Within what time frame must mediation of an escrow disbursement conflict be successfully completed? -
correct answer 90 days following the last demand
, If a licensee, in good faith, entertains doubt as to what person is entitled to the accounting and delivery
of escrowed property, or if conflicting demands have been made upon the licensee for the escrowed
property, what are his/her options under F.S. 475.25? - correct answer 1.) Request Commission to issue
and EDO;
2.) Submit matter to arbitration with consent of ALL parties;
3.) By interpleader or otherwise, seek adjudication of the matter by a court; OR
4.) Submit matter to mediation
Jack, who was trying to procure funds to buy real property. Unfortunately, despite his best intentions, he
was unable to obtain financing and satisfy the terms of the financing clause in the contract for the sale
and purchase of real property. Steven, who was handling the escrowed property for the contract decides
not to notify the FREC and returns the escrowed property back to Jack. Is he allowed to do this? - correct
answer Yes
Steven, a real estate sales associate told Adam, an interested buyer in a property, that he thought the
title of the property Adam was interested in was good. Steven did not receive this opinion or advice from
his attorney. He also did not advise Adam to consult his attorney on the merchantability of the title or to
obtain title insurance. Steven.... - correct answer has violated Section 475.25(1)(j), F.S. if this is his first
violation, he can be charged between $200 and $1,000 of administrative finds and receive a 30-day
suspension to revocation. If this is his second violation he will be charged between $1,000 and $5,000
and receive suspension to revocation.
A broker may place and maintain up to $_____ of personal or brokerage funds in the broker's property
management escrow account. - correct answer $5,000
A broker may place and maintain up to $_____ of personal or brokerage funds in the broker's sales
escrow account. - correct answer $1,000
Steven, who has been having a lot of trouble lately was convicted of a felony. He is a real estate agent,
and under Chapter 475 F.S., has how long to notify the Commission in writing of the felony. - correct
answer 30 days
An administrative complaint against a broker, broker associate, or sales associate shall be filed within
____ years after the time of the act giving rise to the complaint or within ____ years after the the time
Course 1) Exam Study
title - correct answer collection of rights person has in ownership of real property
alienation - correct answer transfer
By Operation of Law - correct answer the courts have intervened
Condemnation - correct answer court action used when right of eminent domain is exercised
Lis Pendens - correct answer pending litigation
Opinion of Title - correct answer title meets all ownership needs and has no questions in its history
Abstract - correct answer history
Cloud - correct answer question about the title
Certificate of Title - correct answer Attorney issued; indicates all problems have been cleared and title
company can issue Title Insurance
Deed - correct answer document which passes ownership from the grantor to the grantee
Parts of a Deed - correct answer Premises
Habendum
Testimonium
,The FREC shall consist of _____ members. - correct answer 7
_____ members of the FREC must be licensed brokers, each of whom has held an active license for the
_____ years preceding appointment. - correct answer 4; 5
Members of the FREC shall be appointed for ____ - year terms. - correct answer 4
One member of the FREC must be a licensed broker or a licensed sales associate who has held an active
license for the ____ years preceding appointment. - correct answer 2
At least one member of the commission must be _____ years or older. - correct answer 60
All services concerning Chapter 475 F.S., including, but not limited to, recordkeeping services,
examination services, legal services, and investigative services, and those services in Chapter 455 F.S.
necessary to perform the duties of this chapter shall be provided by the ________ of _________
________. - correct answer Division of Real Estate
The DRE is funded by fees and assessments of the _____. - correct answer FREC
How long can the Commission deny an application for licensure, registration, or permit, or renewal
thereof? - correct answer 10 Years
How long can the Commission place a licensee, registrant, or permittee on probation? - correct answer
10 Years
How long can the Commission suspend a license, registration, or permit? - correct answer 10 Years
The Commission can impose administrative fines of up to $______ for each count or separate offense. -
correct answer $5,000
Within what time frame must mediation of an escrow disbursement conflict be successfully completed? -
correct answer 90 days following the last demand
, If a licensee, in good faith, entertains doubt as to what person is entitled to the accounting and delivery
of escrowed property, or if conflicting demands have been made upon the licensee for the escrowed
property, what are his/her options under F.S. 475.25? - correct answer 1.) Request Commission to issue
and EDO;
2.) Submit matter to arbitration with consent of ALL parties;
3.) By interpleader or otherwise, seek adjudication of the matter by a court; OR
4.) Submit matter to mediation
Jack, who was trying to procure funds to buy real property. Unfortunately, despite his best intentions, he
was unable to obtain financing and satisfy the terms of the financing clause in the contract for the sale
and purchase of real property. Steven, who was handling the escrowed property for the contract decides
not to notify the FREC and returns the escrowed property back to Jack. Is he allowed to do this? - correct
answer Yes
Steven, a real estate sales associate told Adam, an interested buyer in a property, that he thought the
title of the property Adam was interested in was good. Steven did not receive this opinion or advice from
his attorney. He also did not advise Adam to consult his attorney on the merchantability of the title or to
obtain title insurance. Steven.... - correct answer has violated Section 475.25(1)(j), F.S. if this is his first
violation, he can be charged between $200 and $1,000 of administrative finds and receive a 30-day
suspension to revocation. If this is his second violation he will be charged between $1,000 and $5,000
and receive suspension to revocation.
A broker may place and maintain up to $_____ of personal or brokerage funds in the broker's property
management escrow account. - correct answer $5,000
A broker may place and maintain up to $_____ of personal or brokerage funds in the broker's sales
escrow account. - correct answer $1,000
Steven, who has been having a lot of trouble lately was convicted of a felony. He is a real estate agent,
and under Chapter 475 F.S., has how long to notify the Commission in writing of the felony. - correct
answer 30 days
An administrative complaint against a broker, broker associate, or sales associate shall be filed within
____ years after the time of the act giving rise to the complaint or within ____ years after the the time
