Gold Coast Exam Questions With Accurate Solutions.
Real property - accurate answers-Physical land and improvements together
with legal rights to bowl or use a property
accretion - accurate answers-Increase in land area as moving water deposits
soil in other than its original location
Security deposit - accurate answers-15 days if no intention for claim
Redlining - accurate answers-A discriminatory real estate practice in North
America in which members of minority groups are prevented from obtaining
money to purchase homes or property in predominantly white
neighborhoods. The practice derived its name from the red lines depicted on
cadastral maps used by real estate agents and developers. Today, redlining is
officially illegal.
Blockbusting - accurate answers-Illegal practice of inducing homeowners to
sell their properties by telling them that a certain people of a certain race,
national origin or religion are moving into the area
What can a judge do to compel attendance of a witness? - accurate answers-
Issue a subpoena
When does a concealment occur? - accurate answers-When a broker fails to
disclose info
Title insurance is not what ? - accurate answers-Prorated or required by law
Following business may not register to broker real estate ? - accurate
answers-Corporate sole, cooperative association, business trust
Following business may register with department to perform brokerage
services? - accurate answers-Sole proprietorship, corporation for profit ,
limited partnership
What is arbitration? - accurate answers-All parties give written consent they
abide by arbitrators decision
, Mediation is what ? - accurate answers-Non binding and all parties give
written consent cannot impose a decision
When to deposit escrow fund ? - accurate answers-Immediately no later then
end of third business day
What is escrow dispute? - accurate answers-When buyer or seller demand
broker of release if escrowed funds , give written consent within 15 days
resolve within 30
What is escrow account ? - accurate answers-Not allowed to commingle it's a
trust account savings account , bank , title company , credit union in Florida
Can we receive a post dated check ? - accurate answers-Can be accepted as
earnest money with sellers approval and immediately given to broker
What is a principle office requirement ? - accurate answers-Office must have
one enclosed room in a building on stationary construction it is transferable
Can you share a brokerage compensation ? - accurate answers-Yes can share
with a party to the transaction with full disclosure to all interested parties not
a violation of fs 475
What is a single agent ? - accurate answers-A broker represents a seller OR
buyer can't represent both illegal dual agency
What is broker duty ? - accurate answers-Transmit any and all offers made
without binder deposit , fiduciary
What is a sub-agent? - accurate answers-General agent of the broker same
duties
What is FREC ? - accurate answers-Florida real estate commission 475
What is DBPR - accurate answers-Department or busineee and professional
regulation 455
A special agent can perform what ? - accurate answers-A single act
Real property - accurate answers-Physical land and improvements together
with legal rights to bowl or use a property
accretion - accurate answers-Increase in land area as moving water deposits
soil in other than its original location
Security deposit - accurate answers-15 days if no intention for claim
Redlining - accurate answers-A discriminatory real estate practice in North
America in which members of minority groups are prevented from obtaining
money to purchase homes or property in predominantly white
neighborhoods. The practice derived its name from the red lines depicted on
cadastral maps used by real estate agents and developers. Today, redlining is
officially illegal.
Blockbusting - accurate answers-Illegal practice of inducing homeowners to
sell their properties by telling them that a certain people of a certain race,
national origin or religion are moving into the area
What can a judge do to compel attendance of a witness? - accurate answers-
Issue a subpoena
When does a concealment occur? - accurate answers-When a broker fails to
disclose info
Title insurance is not what ? - accurate answers-Prorated or required by law
Following business may not register to broker real estate ? - accurate
answers-Corporate sole, cooperative association, business trust
Following business may register with department to perform brokerage
services? - accurate answers-Sole proprietorship, corporation for profit ,
limited partnership
What is arbitration? - accurate answers-All parties give written consent they
abide by arbitrators decision
, Mediation is what ? - accurate answers-Non binding and all parties give
written consent cannot impose a decision
When to deposit escrow fund ? - accurate answers-Immediately no later then
end of third business day
What is escrow dispute? - accurate answers-When buyer or seller demand
broker of release if escrowed funds , give written consent within 15 days
resolve within 30
What is escrow account ? - accurate answers-Not allowed to commingle it's a
trust account savings account , bank , title company , credit union in Florida
Can we receive a post dated check ? - accurate answers-Can be accepted as
earnest money with sellers approval and immediately given to broker
What is a principle office requirement ? - accurate answers-Office must have
one enclosed room in a building on stationary construction it is transferable
Can you share a brokerage compensation ? - accurate answers-Yes can share
with a party to the transaction with full disclosure to all interested parties not
a violation of fs 475
What is a single agent ? - accurate answers-A broker represents a seller OR
buyer can't represent both illegal dual agency
What is broker duty ? - accurate answers-Transmit any and all offers made
without binder deposit , fiduciary
What is a sub-agent? - accurate answers-General agent of the broker same
duties
What is FREC ? - accurate answers-Florida real estate commission 475
What is DBPR - accurate answers-Department or busineee and professional
regulation 455
A special agent can perform what ? - accurate answers-A single act
