Florida real estate exam chapter 5 Questions And Answers Latest Updates

Fax solicitations - ️️FCC rules mandate that it is unlawful To send unsolicited advertisements to a residential or business fax machine without the recipients prior express invitation or permission. Commingle funds - ️️Illegal practice of mixing a buyers, sellers, tenants, or landlords funds with the brokers own money or of mixing escrow with the brokers personal funds or brokerage funds.o Branch offices - ️️If a broker desires to conduct business from additional locations, the broker must register each additional location as a branch office and pay the appropriate registration fees. Registrations issued to branch offices are not transferable. Office signs - ️️Active RE brokers must display an official sign on either the exterior or interior of the entrance to their principal office and all branch offices. Must contain: 1. Trade name ( If one is used) 2. Brokers name 3. The words 'licensed real estate broker' or ' lic. Real estate broker' Advertising - ️️Advertisements must clearly reveal the licensed name of the brokerage firm. Blind advertisements - ️️Advertisement that fails to disclose the license name of the brokerage firm. Telephone Consumer Protection Act TCPA - ️️1991. Federal law establishing a Do Not Call Registry for consumers who wish to avoid telemarketing calls. Violators may be fined up to $11,000. Brokerage offices - ️️All active Fl RE brokers are required to have an office and to register the office with DBPR. Sales assoc are not permitted to open offices of their own. They must be registered from and work out of an office maintained and registered in the name of their employer. Florida registry as part of national registry - ️️Charges consumer $10 first yr and $5 every yr after. Violator can be charged an additional $10,000.Escrow or trust accounts - ️️Sales assoc who receive a binder deposit from a customer or principal must deliver it to their broker no later than the next business day. Brokers must place trust funds into an escrow account immediately, which means no later than the 3rd business day after their sales assoc (or an employee of their brokerage company) has received it. First day for broker doesn't count.