Florida Real Estate TEST (Graded A+ actual test)

The Commission's ability to impose disciplinary actions against licensees is known as ______ _________ power - ️️quasi - judicial A plumber has been appointed by a court to appraise a small business. The plumber....... a. is in violation of F.S. 475 b. is allowed to charge a commission c. may do so and be paid a fee d. must first be licensed under F.S. 475, Part II - ️️c. may do so and be paid a fee A developer contracts to build a home on a buyer's lot to the buyer's specifications. This is an example of which type of building: a. tract b. custom c. speculative d. subdivision - ️️b. custom A contractor is employed by an owner of land to build on that land to the owner's specifications - ️️Custom Building A developer that acquires a large that aquires a large tract of land and builds a model center from which sales may be made - ️️tract building Property management has grown as a service of real estate primarily bc of an increase of _______ _________ - ️️Absentee Ownership The category of construction that applies when a property owner employs a contractor to build on his or her lot is called________ ___________ - ️️Custom Building A Real Estate appraiser's fee for professional service is based on: a. a percentage of the property's gross income b. a percentage of the fair market value c. the time and difficulty of the appraisal d. a percentage of property's sales - ️️C. the time and difficulty of the appraisalA Florida Real Estate lisence is required when anyone performs a service is specified under F.S. 475 when all the following conditions are simultaneously present, unless that individual is otherwise exempt under the law: - ️️1. Preforming a service of real estate 2. In the state of Florida 3. For another 4. For compensation _________ has been defined to include anything or any service of Value paid, recieved or expected to be paid or recieved. - ️️Compensation When a contractor builds on his own land with the hope of locating a purchaser after construction has been completed - ️️Speculative building The postlicense educational course for sales associate consists of ________ hours - ️️45 Owners that buy income properties as investments and depend on professionals to manage them - ️️Absentee Owners The continuing education requirement consists of ______ hours - ️️14 Florida Real estate sales associates that desire to become brokers must wait _______ ________ before taking the state exam. - ️️one year A tenant in an apartment complex may recieve up to ______ for refferal of a new tenant for the same complex. - ️️$50 a Value estimated based on resent sales of similar properties in the same neighborhood, not an appraisal - ️️CMA -Comparative Market Analysis... ________ ________ education must be completed during the initial sales associates's license period. - ️️Post Licensing Owner-employers of licensed real estate sales associates are allowed to pay them: a. on a salary basis only b. on a commision basis only c. a commission , but not a bonus d. a commission or salary - ️️d. a commission or salary To qualify for a real estate broker's license, an applicant must have been employed for a minimum of: a. 6 months under one actively licensed broker b. 12 months under one actively licensed brokerc. 12 months under 1 or more actively licensed brokers d. 6 months under 1 or more actively lisenced broker - ️️c. 12 months under 1 or more actively licensed brokers How many hours of postlicense education are required to renew a brokers license? - ️️60 hours How long can an voluntary inactive licencee remain in that lisence status? - ️️indefinately The agreement the state of Florida has w/ some other states that recognises the similarity in education and experience required of licencees is called: rocity b. mutual recognition c. cooperative licensure d. intrastate licensing - ️️b. mutual recognition