Gold Coast End of chapter Questions
1-19
1. Which of the following statements is true regarding a mortgage loan
origi- nator?: A mortgage loan originator must have a separate license.
2. A real estate appraiser's fee for professional service is based on which
of the following?: The time and difficulty of the appraisal
3. Which of the following best describes the real estate brokerage business?
: Service Business
4. When a developer completes construction of a new subdivision, all
streets, electric, water, and sewer installation are finished and deeded to the
city or county. What is this process called?: Dedication
5. All of the following are responsibilities of a property manager, EXCEPT:: -
Preparing Leases
6. What does the term "farming" refer to in real estate?: Specializing in
one geographic area
7. Which insurance policies can a real estate licensee offer to the
public without additional state licensing?: None of the Above
8. What is the purpose of the National Association of REALTORS®?:
Preserve the right of individuals to own real property through of an exchange of
information
9. What does the designation of REALTOR® signify?: The designation
identifies the real estate professional as a member of NAR
10. developer contracts to build a home according to the buyer's This is
an example of which specifications. type of building?: Custom
11. The federal, state, and local governments all play a role in the regulation
of real estate. In which of the following areas would the local government
have the most impact?: Property taxes, building moratoriums, and zoning
12. Which of the following best describes licensees who are involved in
busi- ness opprtunity brokerage?: They must be able to analyze financial
statements and understand balance sheets
13. Real estate licensees are expected to be knowledgeable in all of
the following areas, EXCEPT:: Accounting
14. Which service provided by real estate licensees requires the most
experi- ence and knowledge?: Counceling
15. An appraiser, who is registered, licensed, or certified under F.S. 475,
Part II, must be utilized in which of the following?: All appraisals
16. In what year was the Florida Real Estate Commission created?: 1925
17. What is the purpose of the real estate license law?: To protect the public
18. Why was the Florida Real Estate Commission created?: To administer
and enforce the law
19. A sales associate failed to complete the required post-license education
prior to renewal. What is the status of the license?: Placing and keeping on
, Gold Coast End of chapter Questions
1-19
record the sales associates name, home address and business address of his or
her employing broker
20. How may a licensed sales associate be paid by his or her owner-
develop- er?: On a commission or salary basis
21. What are the minimum employment requirements for a licensed sales
associate to qualify for a real estate broker's license?: Employed for 24
months under one or more actively licensed brokers
22. How many hours of post-license education are required to renew a
broker license?: 60
23. All of the following services require a real estate license, EXCEPT::
Mort- gaging
24. All of the following information appears on a Florida real estate
license, EXCEPT:: The signature of the Governer
25. What must an applicant for a real estate license do if he or she has
been convicted of a crime?: The applicant must disclose all convictions on
the application
26. Which condition must exist for an applicant to qualify for a florida real
estate license?: The applicant must have a high school education or
equivalent
27. Which of the following statements best describes an attorney-in-fact?:
An attorney in fact is authorized by a power of attorney to act for another
28. Which individual is exempt from the licensing requirements of Florida
Statute 475?: An attorney who performs legal duties in connection with a real
estate transaction
29. Complete this statement. An actively licensed attorney who is a
member in good standing with the Florida Bar: Is excempt from continuing
education requirements to maintain a real estate license
30. What is a broker associate: A broker who is employed as a sales associate
31. Florida has an agreement with some other states that for licensees. What
is the agreement education and experience requirements recognizes the
sim- ilarity in called?: Mutual recognition
32. Which of the following statements is true regarding a plumber who has
been appointed by a court to appraise a small business?: The plumber may
do so, and be paid a fee
33. All of the following individuals are exempt from the real estate license
law, EXCEPT:: Funeral directors performing duties of real estate for commission
34. A georgia broker with extensive experience in conducting auctions was
asked by a local real estate broker to auction did not result in a sale. The
florida broker paid the georgia broker for out if pocket expenses, but did not
pay a
, Gold Coast End of chapter Questions
1-19
commission. Which of the following statements is correct?: The georgia broke
violated license law.
35. The Department of Business and to issue Professional Regulation has
the authority all of the following, EXCEPT:: An injuction
36. What is the maximum number of years a member may serve on the
Florida Real Estate Commission?: No maximum
37. Which statement is true regarding the secretary of the Department of
Busi- ness and Professional Regulation?: The secretary is appointed by the
governer
38. Which statement is true regarding examination questions and answers?:
They are confidential
39. Which of the following entities issues real estate licenses?: The
department of business and professional regulations
40. After being active in the real estate business for over five years, a li-
censee's license expired on September 30th. What is the status of the
license on October 1st?: Involuntary inactive
41. The Florida Real Estate Commission held a meeting for the purpose of
passing a new rule. This is an exercise of which Commission power?:
Qua- si-legislative
42. Which of the following statements is true regarding the director of the
Divi- sion of Real Estate?: The director is appointed by the secretary of the
department of business and professional regulation
43. The Department of Business and Professional Regulation is created
by which statute?: F.S 455
44. If an applicant for a real estate license provides false information,
they commit which of the following criminal violations?: Third degree
felony
45. What action may the Department take if it determines that an unlicensed
person has operated in violation of a law or rule under its administration?:
An administrative fine up to $5,000 may be imposed
46. Educational requirements of applicants for a real estate license are pro-
mulgated under what authority of the Florida Real Estate Commission?:
Ex- cecutive
47. When is a request for the renewal of a license effective?
a. when recieved by the department
b. the day following the experation
c. on the date the application is mailed
d. on the date indicated on the license: When recieved by the department
48. When does a real estate license expire?: On the date shown on the license
1-19
1. Which of the following statements is true regarding a mortgage loan
origi- nator?: A mortgage loan originator must have a separate license.
2. A real estate appraiser's fee for professional service is based on which
of the following?: The time and difficulty of the appraisal
3. Which of the following best describes the real estate brokerage business?
: Service Business
4. When a developer completes construction of a new subdivision, all
streets, electric, water, and sewer installation are finished and deeded to the
city or county. What is this process called?: Dedication
5. All of the following are responsibilities of a property manager, EXCEPT:: -
Preparing Leases
6. What does the term "farming" refer to in real estate?: Specializing in
one geographic area
7. Which insurance policies can a real estate licensee offer to the
public without additional state licensing?: None of the Above
8. What is the purpose of the National Association of REALTORS®?:
Preserve the right of individuals to own real property through of an exchange of
information
9. What does the designation of REALTOR® signify?: The designation
identifies the real estate professional as a member of NAR
10. developer contracts to build a home according to the buyer's This is
an example of which specifications. type of building?: Custom
11. The federal, state, and local governments all play a role in the regulation
of real estate. In which of the following areas would the local government
have the most impact?: Property taxes, building moratoriums, and zoning
12. Which of the following best describes licensees who are involved in
busi- ness opprtunity brokerage?: They must be able to analyze financial
statements and understand balance sheets
13. Real estate licensees are expected to be knowledgeable in all of
the following areas, EXCEPT:: Accounting
14. Which service provided by real estate licensees requires the most
experi- ence and knowledge?: Counceling
15. An appraiser, who is registered, licensed, or certified under F.S. 475,
Part II, must be utilized in which of the following?: All appraisals
16. In what year was the Florida Real Estate Commission created?: 1925
17. What is the purpose of the real estate license law?: To protect the public
18. Why was the Florida Real Estate Commission created?: To administer
and enforce the law
19. A sales associate failed to complete the required post-license education
prior to renewal. What is the status of the license?: Placing and keeping on
, Gold Coast End of chapter Questions
1-19
record the sales associates name, home address and business address of his or
her employing broker
20. How may a licensed sales associate be paid by his or her owner-
develop- er?: On a commission or salary basis
21. What are the minimum employment requirements for a licensed sales
associate to qualify for a real estate broker's license?: Employed for 24
months under one or more actively licensed brokers
22. How many hours of post-license education are required to renew a
broker license?: 60
23. All of the following services require a real estate license, EXCEPT::
Mort- gaging
24. All of the following information appears on a Florida real estate
license, EXCEPT:: The signature of the Governer
25. What must an applicant for a real estate license do if he or she has
been convicted of a crime?: The applicant must disclose all convictions on
the application
26. Which condition must exist for an applicant to qualify for a florida real
estate license?: The applicant must have a high school education or
equivalent
27. Which of the following statements best describes an attorney-in-fact?:
An attorney in fact is authorized by a power of attorney to act for another
28. Which individual is exempt from the licensing requirements of Florida
Statute 475?: An attorney who performs legal duties in connection with a real
estate transaction
29. Complete this statement. An actively licensed attorney who is a
member in good standing with the Florida Bar: Is excempt from continuing
education requirements to maintain a real estate license
30. What is a broker associate: A broker who is employed as a sales associate
31. Florida has an agreement with some other states that for licensees. What
is the agreement education and experience requirements recognizes the
sim- ilarity in called?: Mutual recognition
32. Which of the following statements is true regarding a plumber who has
been appointed by a court to appraise a small business?: The plumber may
do so, and be paid a fee
33. All of the following individuals are exempt from the real estate license
law, EXCEPT:: Funeral directors performing duties of real estate for commission
34. A georgia broker with extensive experience in conducting auctions was
asked by a local real estate broker to auction did not result in a sale. The
florida broker paid the georgia broker for out if pocket expenses, but did not
pay a
, Gold Coast End of chapter Questions
1-19
commission. Which of the following statements is correct?: The georgia broke
violated license law.
35. The Department of Business and to issue Professional Regulation has
the authority all of the following, EXCEPT:: An injuction
36. What is the maximum number of years a member may serve on the
Florida Real Estate Commission?: No maximum
37. Which statement is true regarding the secretary of the Department of
Busi- ness and Professional Regulation?: The secretary is appointed by the
governer
38. Which statement is true regarding examination questions and answers?:
They are confidential
39. Which of the following entities issues real estate licenses?: The
department of business and professional regulations
40. After being active in the real estate business for over five years, a li-
censee's license expired on September 30th. What is the status of the
license on October 1st?: Involuntary inactive
41. The Florida Real Estate Commission held a meeting for the purpose of
passing a new rule. This is an exercise of which Commission power?:
Qua- si-legislative
42. Which of the following statements is true regarding the director of the
Divi- sion of Real Estate?: The director is appointed by the secretary of the
department of business and professional regulation
43. The Department of Business and Professional Regulation is created
by which statute?: F.S 455
44. If an applicant for a real estate license provides false information,
they commit which of the following criminal violations?: Third degree
felony
45. What action may the Department take if it determines that an unlicensed
person has operated in violation of a law or rule under its administration?:
An administrative fine up to $5,000 may be imposed
46. Educational requirements of applicants for a real estate license are pro-
mulgated under what authority of the Florida Real Estate Commission?:
Ex- cecutive
47. When is a request for the renewal of a license effective?
a. when recieved by the department
b. the day following the experation
c. on the date the application is mailed
d. on the date indicated on the license: When recieved by the department
48. When does a real estate license expire?: On the date shown on the license
