Gold Coast FINAL EXAM STUDY SET 4/11 Questions With
Accurate Solutions.
what are the areas a realtor should be an expert in? - accurate answers-
Marketing
Valuation & Market Conditions
Property Transfer
"MVP"
Does one need to be a resident of the state or a citizen of the U.S. to get a FL
real estate license? - accurate answers-to get a FL real estate license, you don't
need to be a citizen
What must an applicant for a real estate license do if he has been convicted of
a crime? - accurate answers-must disclose all convictions
Employment - accurate answers-an associate can only have one employer at a
time
What's the grace period for a Sales associate's first renewal? Post Licensing -
accurate answers-no grace period, void and null
Individuals who are exempt from licensure - accurate answers-Salaried
Employees
How long can one stay involuntary inactive? - accurate answers-2 years
What happens to an associates license if a broker's license is void, suspended,
or revoked? - accurate answers-their license automatically becomes inactive
Multiple Licenses - accurate answers-issued only to active brokers if it is
clearly shown that such additional licenses are necessary to the conduct of
legitimate business
What is a Transaction broker - accurate answers-a broker who provides
limited representation to a buyer, seller, or both, in a real estate transaction
, *not an AGENT*
Presenting Offers - accurate answers-must present all offers
A broker is entitled to compensation if they... - accurate answers-bring a buyer
who brings an offer the seller was looking for
Listing Contract - accurate answers-broker's employment contract that states
the terms and conditions that the broker must meet to become eligible for
compensation
Referral Fees:
I as the sellers agent promise kickback commission. Is this allowed? - accurate
answers-yes, as long as this is disclosed to all interested parties
what if an attorney asks for a fee because they referred a client to you? -
accurate answers-you cannot give him a referral fee for sending you a client
Principal Brokerage office - accurate answers--registration is good for 2 years
-can switch locations
branch brokerage office - accurate answers--registration is good for 2 years
-cannot move locations if not the principal location... in order to move it would
need a new registration for the new location and must pays fees associated
with it
What are the requirements for a Principal Office? - accurate answers--at least
one enclosed room in a building of stationary construction
-must maintain documents for a minimum of 5 years
What are the requirements for an associate advertising with a website? -
accurate answers--must have brokerage name and his/her last name
Advertising - accurate answers-must have name of brokerage
When should one disclose that they are a licensed agent? - accurate answers-
prior to entering serious negotiations
Accurate Solutions.
what are the areas a realtor should be an expert in? - accurate answers-
Marketing
Valuation & Market Conditions
Property Transfer
"MVP"
Does one need to be a resident of the state or a citizen of the U.S. to get a FL
real estate license? - accurate answers-to get a FL real estate license, you don't
need to be a citizen
What must an applicant for a real estate license do if he has been convicted of
a crime? - accurate answers-must disclose all convictions
Employment - accurate answers-an associate can only have one employer at a
time
What's the grace period for a Sales associate's first renewal? Post Licensing -
accurate answers-no grace period, void and null
Individuals who are exempt from licensure - accurate answers-Salaried
Employees
How long can one stay involuntary inactive? - accurate answers-2 years
What happens to an associates license if a broker's license is void, suspended,
or revoked? - accurate answers-their license automatically becomes inactive
Multiple Licenses - accurate answers-issued only to active brokers if it is
clearly shown that such additional licenses are necessary to the conduct of
legitimate business
What is a Transaction broker - accurate answers-a broker who provides
limited representation to a buyer, seller, or both, in a real estate transaction
, *not an AGENT*
Presenting Offers - accurate answers-must present all offers
A broker is entitled to compensation if they... - accurate answers-bring a buyer
who brings an offer the seller was looking for
Listing Contract - accurate answers-broker's employment contract that states
the terms and conditions that the broker must meet to become eligible for
compensation
Referral Fees:
I as the sellers agent promise kickback commission. Is this allowed? - accurate
answers-yes, as long as this is disclosed to all interested parties
what if an attorney asks for a fee because they referred a client to you? -
accurate answers-you cannot give him a referral fee for sending you a client
Principal Brokerage office - accurate answers--registration is good for 2 years
-can switch locations
branch brokerage office - accurate answers--registration is good for 2 years
-cannot move locations if not the principal location... in order to move it would
need a new registration for the new location and must pays fees associated
with it
What are the requirements for a Principal Office? - accurate answers--at least
one enclosed room in a building of stationary construction
-must maintain documents for a minimum of 5 years
What are the requirements for an associate advertising with a website? -
accurate answers--must have brokerage name and his/her last name
Advertising - accurate answers-must have name of brokerage
When should one disclose that they are a licensed agent? - accurate answers-
prior to entering serious negotiations
