Gold Coast Final Exam Questions and
answers 2025
What .is .the .form .you .sign .that .says .you .will .pay .the .loan .back .? .- .ANS✓✓-
promissory .note
What .is .the .post .licensing .grace .period .after .first .expiration .? .- .ANS✓✓-none
Deposits .is .a .form .of... .- .ANS✓✓-valuable .consideration
Physical .land .and .improvements .- .ANS✓✓-real .property
Is .it .a .violation .if .a .sales .associate .work .for .two .brokers .Monday-Friday, .and
.Saturday .and .Sunday .and .getting .paid .commission .from .both .- .ANS✓✓-Yes
What .is .the .maximum .fine .per .offense .? .- .ANS✓✓-$5,000 .per .fine
Out .of .state .broker .sends .a .customer, .and .had .no .part .in .the .transaction .and
.requests .a .referral .fee, .should .he .expect .a .commission .? .- .ANS✓✓-yes.
How .many .acres .in .one .quarter .of .a .section .? .- .ANS✓✓-160
What .do .you .do .when .there .is .conflict .in .who .escrow .goes .to .- .ANS✓✓-notify
.FREC
, When .do .you .NOT .have .to .notify .FREC .about .conflict .of .escrow .? .- .ANS✓✓-
contingent .on .the .contract
T/F .Grantee .and .Grantor .has .to .sign .the .deed .- .ANS✓✓-False
What .statute .has .to .deal .with .contracts .being .in .writing .? .- .ANS✓✓-Statute .of
.Frauds
T/F .A .broker .can .have .an .office .an .office .in .a .motorhome .- .ANS✓✓-false
Broker .deposits .$10,000 .of .personal .funds .into .escrow .account, .what .is .he
.guilty .of .? .- .ANS✓✓-commingling
What .is .the .best .deed .from .the .grantors .POV? .- .ANS✓✓-Quitclaims .Deed
What .is .the .law .that .states .that .lenders .have .to .tell .you .the .truth .about .the
.interest .rate .? .- .ANS✓✓-Truth .in .Lending
What .law .puts .a .time .limit .on .contracts .? .- .ANS✓✓-Statute .of .Limitation
What .is .the .Statute .of .Limitation .on .oral .contracts .? .- .ANS✓✓-4 .years
What .is .used .when .you .exceed .80% .loan .amount, .to .insure .funds? .- .ANS✓✓-
Private .Mortgage .Interest .(PMI)
The .future .use .that .brings .in .the .highest .return .on .land .? .- .ANS✓✓-Highest
.and .Best .Use
Which .entities .that .would .fund .a .shopping .center .? .- .ANS✓✓-Life .insurance
.companies
Someone .gives .you .a .property .to .enjoy .till .you .die .is .what .type .of .estate .? .-
.ANS✓✓-life .estate
answers 2025
What .is .the .form .you .sign .that .says .you .will .pay .the .loan .back .? .- .ANS✓✓-
promissory .note
What .is .the .post .licensing .grace .period .after .first .expiration .? .- .ANS✓✓-none
Deposits .is .a .form .of... .- .ANS✓✓-valuable .consideration
Physical .land .and .improvements .- .ANS✓✓-real .property
Is .it .a .violation .if .a .sales .associate .work .for .two .brokers .Monday-Friday, .and
.Saturday .and .Sunday .and .getting .paid .commission .from .both .- .ANS✓✓-Yes
What .is .the .maximum .fine .per .offense .? .- .ANS✓✓-$5,000 .per .fine
Out .of .state .broker .sends .a .customer, .and .had .no .part .in .the .transaction .and
.requests .a .referral .fee, .should .he .expect .a .commission .? .- .ANS✓✓-yes.
How .many .acres .in .one .quarter .of .a .section .? .- .ANS✓✓-160
What .do .you .do .when .there .is .conflict .in .who .escrow .goes .to .- .ANS✓✓-notify
.FREC
, When .do .you .NOT .have .to .notify .FREC .about .conflict .of .escrow .? .- .ANS✓✓-
contingent .on .the .contract
T/F .Grantee .and .Grantor .has .to .sign .the .deed .- .ANS✓✓-False
What .statute .has .to .deal .with .contracts .being .in .writing .? .- .ANS✓✓-Statute .of
.Frauds
T/F .A .broker .can .have .an .office .an .office .in .a .motorhome .- .ANS✓✓-false
Broker .deposits .$10,000 .of .personal .funds .into .escrow .account, .what .is .he
.guilty .of .? .- .ANS✓✓-commingling
What .is .the .best .deed .from .the .grantors .POV? .- .ANS✓✓-Quitclaims .Deed
What .is .the .law .that .states .that .lenders .have .to .tell .you .the .truth .about .the
.interest .rate .? .- .ANS✓✓-Truth .in .Lending
What .law .puts .a .time .limit .on .contracts .? .- .ANS✓✓-Statute .of .Limitation
What .is .the .Statute .of .Limitation .on .oral .contracts .? .- .ANS✓✓-4 .years
What .is .used .when .you .exceed .80% .loan .amount, .to .insure .funds? .- .ANS✓✓-
Private .Mortgage .Interest .(PMI)
The .future .use .that .brings .in .the .highest .return .on .land .? .- .ANS✓✓-Highest
.and .Best .Use
Which .entities .that .would .fund .a .shopping .center .? .- .ANS✓✓-Life .insurance
.companies
Someone .gives .you .a .property .to .enjoy .till .you .die .is .what .type .of .estate .? .-
.ANS✓✓-life .estate
