GOLD COAST FINAL EXAM STUDY SET
FOR 4/11
whatooareootheootheooareasooaoorealtorooshouldoobeooanooexpertooin?oo-ooans--Marketing
Valuationoo&ooMarketooConditions
PropertyooTransfer
"MVP"
DoesoooneooneedootooobeooaooresidentooofootheoostateooorooaoocitizenooofootheooU.S.ootooo
getooaooFLoorealooestateoolicense?oo-ooans--
tooogetooaooFLoorealooestateoolicense,ooyouoodon'tooneedootooobeooaoocitizen
Whatoomustooanooapplicantooforooaoorealooestateoolicenseoodoooifooheoohasoobeenooconvict
edooofooaoocrime?oo-ooans--mustoodiscloseooallooconvictions
Employmentoo-ooans--anooassociateoocanooonlyoohaveoooneooemployerooatooaootime
What'sootheoograceooperiodooforooaooSalesooassociate'soofirstoorenewal?
ooPostooLicensingoo-ooans--nooograceooperiod,oovoidooandoonull
Individualsoowhoooareooexemptoofromoolicensureoo-ooans--SalariedooEmployees
Howoolongoocanoooneoostayooinvoluntaryooinactive?oo-ooans--2ooyears
Whatoohappensootoooanooassociatesoolicenseooifooaoobroker'soolicenseooisoovoid,oosuspen
ded,oooroorevoked?oo-ooans--theiroolicenseooautomaticallyoobecomesooinactive
MultipleooLicensesoo-ooans--
issuedooonlyootoooactiveoobrokersooifooitooisooclearlyooshownoothatoosuchooadditionaloolicen
sesooareoonecessaryootoootheooconductooofoolegitimateoobusiness
WhatooisooaooTransactionoobrokeroo-ooans--
aoobrokeroowhoooprovidesoolimitedoorepresentationootoooaoobuyer,ooseller,ooorooboth,ooinoo
aoorealooestateootransactionoo
*notooanooAGENT*
PresentingooOffersoo-ooans--mustoopresentooalloooffers
, Aoobrokerooisooentitledootooocompensationooifoothey...oo-ooans--
bringooaoobuyeroowhooobringsooanooofferootheooselleroowasoolookingoofor
ListingooContractoo-ooans--
broker'sooemploymentoocontractoothatoostatesootheootermsooandooconditionsoothatootheoob
rokeroomustoomeetootooobecomeooeligibleooforoocompensation
ReferralooFees:
Iooasootheoosellersooagentoopromiseookickbackoocommission.ooIsoothisooallowed?oo-ooans--
yes,ooasoolongooasoothisooisoodisclosedootoooalloointerestedooparties
whatooifooanooattorneyooasksooforooaoofeeoobecauseootheyooreferredooaooclientootoooyou?
oo-ooans--youoocannotoogiveoohimooaooreferraloofeeooforoosendingooyouooaooclient
PrincipalooBrokerageooofficeoo-ooans---registrationooisoogoodooforoo2ooyears
-canooswitchoolocations
branchoobrokerageooofficeoo-ooans---registrationooisoogoodooforoo2ooyears
-
cannotoomoveoolocationsooifoonotootheooprincipaloolocation...ooinooorderootooomoveooitoowo
uldooneedooaoonewooregistrationooforootheoonewoolocationooandoomustoopaysoofeesooassoc
iatedoowithooit
WhatooareootheoorequirementsooforooaooPrincipalooOffice?oo-ooans---
atooleastoooneooenclosedooroomooinooaoobuildingooofoostationaryooconstructionoo
-mustoomaintainoodocumentsooforooaoominimumooofoo5ooyears
Whatooareootheoorequirementsooforooanooassociateooadvertisingoowithooaoowebsite?oo-
ooans---mustoohaveoobrokerageoonameooandoohis/heroolastooname
Advertisingoo-ooans--mustoohaveoonameooofoobrokerage
Whenooshouldoooneoodiscloseoothatootheyooareooaoolicensedooagent?oo-ooans--
priorootoooenteringooseriousoonegotiations
EscrowooAccountoopg.75****oo-ooans--ESCROWooACCOUNTooPGoo75****
EarnestooMoneyooDepositoo-ooans--
provideoowrittenooverificationoowithinoo10oodaysooofoorequest
AoobuyeroodropsoooffooanooescrowoocheckooonooMonday.ooToooavoidooanyootroubleoowitho
oFREC,ootheoobrokeroomustoodepositootheoocheckoobyoocloseooofoobusinessooonoowhichoo
day?oo-ooans--Thursday
Whichooofootheoofollowingoo4oouses/hasooanoointerpleader?
FOR 4/11
whatooareootheootheooareasooaoorealtorooshouldoobeooanooexpertooin?oo-ooans--Marketing
Valuationoo&ooMarketooConditions
PropertyooTransfer
"MVP"
DoesoooneooneedootooobeooaooresidentooofootheoostateooorooaoocitizenooofootheooU.S.ootooo
getooaooFLoorealooestateoolicense?oo-ooans--
tooogetooaooFLoorealooestateoolicense,ooyouoodon'tooneedootooobeooaoocitizen
Whatoomustooanooapplicantooforooaoorealooestateoolicenseoodoooifooheoohasoobeenooconvict
edooofooaoocrime?oo-ooans--mustoodiscloseooallooconvictions
Employmentoo-ooans--anooassociateoocanooonlyoohaveoooneooemployerooatooaootime
What'sootheoograceooperiodooforooaooSalesooassociate'soofirstoorenewal?
ooPostooLicensingoo-ooans--nooograceooperiod,oovoidooandoonull
Individualsoowhoooareooexemptoofromoolicensureoo-ooans--SalariedooEmployees
Howoolongoocanoooneoostayooinvoluntaryooinactive?oo-ooans--2ooyears
Whatoohappensootoooanooassociatesoolicenseooifooaoobroker'soolicenseooisoovoid,oosuspen
ded,oooroorevoked?oo-ooans--theiroolicenseooautomaticallyoobecomesooinactive
MultipleooLicensesoo-ooans--
issuedooonlyootoooactiveoobrokersooifooitooisooclearlyooshownoothatoosuchooadditionaloolicen
sesooareoonecessaryootoootheooconductooofoolegitimateoobusiness
WhatooisooaooTransactionoobrokeroo-ooans--
aoobrokeroowhoooprovidesoolimitedoorepresentationootoooaoobuyer,ooseller,ooorooboth,ooinoo
aoorealooestateootransactionoo
*notooanooAGENT*
PresentingooOffersoo-ooans--mustoopresentooalloooffers
, Aoobrokerooisooentitledootooocompensationooifoothey...oo-ooans--
bringooaoobuyeroowhooobringsooanooofferootheooselleroowasoolookingoofor
ListingooContractoo-ooans--
broker'sooemploymentoocontractoothatoostatesootheootermsooandooconditionsoothatootheoob
rokeroomustoomeetootooobecomeooeligibleooforoocompensation
ReferralooFees:
Iooasootheoosellersooagentoopromiseookickbackoocommission.ooIsoothisooallowed?oo-ooans--
yes,ooasoolongooasoothisooisoodisclosedootoooalloointerestedooparties
whatooifooanooattorneyooasksooforooaoofeeoobecauseootheyooreferredooaooclientootoooyou?
oo-ooans--youoocannotoogiveoohimooaooreferraloofeeooforoosendingooyouooaooclient
PrincipalooBrokerageooofficeoo-ooans---registrationooisoogoodooforoo2ooyears
-canooswitchoolocations
branchoobrokerageooofficeoo-ooans---registrationooisoogoodooforoo2ooyears
-
cannotoomoveoolocationsooifoonotootheooprincipaloolocation...ooinooorderootooomoveooitoowo
uldooneedooaoonewooregistrationooforootheoonewoolocationooandoomustoopaysoofeesooassoc
iatedoowithooit
WhatooareootheoorequirementsooforooaooPrincipalooOffice?oo-ooans---
atooleastoooneooenclosedooroomooinooaoobuildingooofoostationaryooconstructionoo
-mustoomaintainoodocumentsooforooaoominimumooofoo5ooyears
Whatooareootheoorequirementsooforooanooassociateooadvertisingoowithooaoowebsite?oo-
ooans---mustoohaveoobrokerageoonameooandoohis/heroolastooname
Advertisingoo-ooans--mustoohaveoonameooofoobrokerage
Whenooshouldoooneoodiscloseoothatootheyooareooaoolicensedooagent?oo-ooans--
priorootoooenteringooseriousoonegotiations
EscrowooAccountoopg.75****oo-ooans--ESCROWooACCOUNTooPGoo75****
EarnestooMoneyooDepositoo-ooans--
provideoowrittenooverificationoowithinoo10oodaysooofoorequest
AoobuyeroodropsoooffooanooescrowoocheckooonooMonday.ooToooavoidooanyootroubleoowitho
oFREC,ootheoobrokeroomustoodepositootheoocheckoobyoocloseooofoobusinessooonoowhichoo
day?oo-ooans--Thursday
Whichooofootheoofollowingoo4oouses/hasooanoointerpleader?
