Gold Coast End of chapter Questions 1-19
UPDATED ACTUAL Exam Questions and
CORRECT Answers
Which of the following statements is true regarding a mortgage loan originator? - CORRECT
ANSWER - A mortgage loan originator must have a separate license.
A real estate appraiser's fee for professional service is based on which of the following? -
CORRECT ANSWER - The time and difficulty of the appraisal
Which of the following best describes the real estate brokerage business? - CORRECT
ANSWER - Service Business
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? -
CORRECT ANSWER - Dedication
All of the following are responsibilities of a property manager, EXCEPT: - CORRECT
ANSWER - Preparing Leases
What does the term "farming" refer to in real estate? - CORRECT ANSWER -
Specializing in one geographic area
Which insurance policies can a real estate licensee offer to the public without additional state
licensing? - CORRECT ANSWER - None of the Above
What is the purpose of the National Association of REALTORS®? - CORRECT
ANSWER - Preserve the right of individuals to own real property through of an exchange
of information
,What does the designation of REALTOR® signify? - CORRECT ANSWER - The
designation identifies the real estate professional as a member of NAR
developer contracts to build a home according to the buyer's This is an example of which
specifications. type of building? - CORRECT ANSWER - Custom
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? - CORRECT
ANSWER - Property taxes, building moratoriums, and zoning
Which of the following best describes licensees who are involved in business opprtunity
brokerage? - CORRECT ANSWER - They must be able to analyze financial statements
and understand balance sheets
Real estate licensees are expected to be knowledgeable in all of the following areas, EXCEPT: -
CORRECT ANSWER - Accounting
Which service provided by real estate licensees requires the most experience and knowledge? -
CORRECT ANSWER - Counceling
An appraiser, who is registered, licensed, or certified under F.S. 475, Part II, must be utilized in
which of the following? - CORRECT ANSWER - All appraisals
In what year was the Florida Real Estate Commission created? - CORRECT ANSWER -
1925
What is the purpose of the real estate license law? - CORRECT ANSWER - To protect the
public
Why was the Florida Real Estate Commission created? - CORRECT ANSWER - To
administer and enforce the law
,A sales associate failed to complete the required post-license education prior to renewal. What is
the status of the license? - CORRECT ANSWER - Placing and keeping on record the sales
associates name, home address and business address of his or her employing broker
How may a licensed sales associate be paid by his or her owner-developer? - CORRECT
ANSWER - On a commission or salary basis
What are the minimum employment requirements for a licensed sales associate to qualify for a
real estate broker's license? - CORRECT ANSWER - Employed for 24 months under one
or more actively licensed brokers
How many hours of post-license education are required to renew a broker license? - CORRECT
ANSWER - 60
All of the following services require a real estate license, EXCEPT: - CORRECT
ANSWER - Mortgaging
All of the following information appears on a Florida real estate license, EXCEPT: - CORRECT
ANSWER - The signature of the Governer
What must an applicant for a real estate license do if he or she has been convicted of a crime? -
CORRECT ANSWER - The applicant must disclose all convictions on the application
Which condition must exist for an applicant to qualify for a florida real estate license? -
CORRECT ANSWER - The applicant must have a high school education or equivalent
Which of the following statements best describes an attorney-in-fact? - CORRECT
ANSWER - An attorney in fact is authorized by a power of attorney to act for another
, Which individual is exempt from the licensing requirements of Florida Statute 475? - CORRECT
ANSWER - An attorney who performs legal duties in connection with a real estate
transaction
Complete this statement. An actively licensed attorney who is a member in good standing with
the Florida Bar - CORRECT ANSWER - Is excempt from continuing education
requirements to maintain a real estate license
What is a broker associate - CORRECT ANSWER - A broker who is employed as a sales
associate
Florida has an agreement with some other states that for licensees. What is the agreement
education and experience requirements recognizes the similarity in called? - CORRECT
ANSWER - Mutual recognition
Which of the following statements is true regarding a plumber who has been appointed by a
court to appraise a small business? - CORRECT ANSWER - The plumber may do so, and
be paid a fee
All of the following individuals are exempt from the real estate license law, EXCEPT: -
CORRECT ANSWER - Funeral directors performing duties of real estate for commission
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 commission. Which of the following statements is correct? -
CORRECT ANSWER - The georgia broker violated license law.
The Department of Business and to issue Professional Regulation has the authority all of the
following, EXCEPT: - CORRECT ANSWER - An injuction
What is the maximum number of years a member may serve on the Florida Real Estate
Commission? - CORRECT ANSWER - No maximum
UPDATED ACTUAL Exam Questions and
CORRECT Answers
Which of the following statements is true regarding a mortgage loan originator? - CORRECT
ANSWER - A mortgage loan originator must have a separate license.
A real estate appraiser's fee for professional service is based on which of the following? -
CORRECT ANSWER - The time and difficulty of the appraisal
Which of the following best describes the real estate brokerage business? - CORRECT
ANSWER - Service Business
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? -
CORRECT ANSWER - Dedication
All of the following are responsibilities of a property manager, EXCEPT: - CORRECT
ANSWER - Preparing Leases
What does the term "farming" refer to in real estate? - CORRECT ANSWER -
Specializing in one geographic area
Which insurance policies can a real estate licensee offer to the public without additional state
licensing? - CORRECT ANSWER - None of the Above
What is the purpose of the National Association of REALTORS®? - CORRECT
ANSWER - Preserve the right of individuals to own real property through of an exchange
of information
,What does the designation of REALTOR® signify? - CORRECT ANSWER - The
designation identifies the real estate professional as a member of NAR
developer contracts to build a home according to the buyer's This is an example of which
specifications. type of building? - CORRECT ANSWER - Custom
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? - CORRECT
ANSWER - Property taxes, building moratoriums, and zoning
Which of the following best describes licensees who are involved in business opprtunity
brokerage? - CORRECT ANSWER - They must be able to analyze financial statements
and understand balance sheets
Real estate licensees are expected to be knowledgeable in all of the following areas, EXCEPT: -
CORRECT ANSWER - Accounting
Which service provided by real estate licensees requires the most experience and knowledge? -
CORRECT ANSWER - Counceling
An appraiser, who is registered, licensed, or certified under F.S. 475, Part II, must be utilized in
which of the following? - CORRECT ANSWER - All appraisals
In what year was the Florida Real Estate Commission created? - CORRECT ANSWER -
1925
What is the purpose of the real estate license law? - CORRECT ANSWER - To protect the
public
Why was the Florida Real Estate Commission created? - CORRECT ANSWER - To
administer and enforce the law
,A sales associate failed to complete the required post-license education prior to renewal. What is
the status of the license? - CORRECT ANSWER - Placing and keeping on record the sales
associates name, home address and business address of his or her employing broker
How may a licensed sales associate be paid by his or her owner-developer? - CORRECT
ANSWER - On a commission or salary basis
What are the minimum employment requirements for a licensed sales associate to qualify for a
real estate broker's license? - CORRECT ANSWER - Employed for 24 months under one
or more actively licensed brokers
How many hours of post-license education are required to renew a broker license? - CORRECT
ANSWER - 60
All of the following services require a real estate license, EXCEPT: - CORRECT
ANSWER - Mortgaging
All of the following information appears on a Florida real estate license, EXCEPT: - CORRECT
ANSWER - The signature of the Governer
What must an applicant for a real estate license do if he or she has been convicted of a crime? -
CORRECT ANSWER - The applicant must disclose all convictions on the application
Which condition must exist for an applicant to qualify for a florida real estate license? -
CORRECT ANSWER - The applicant must have a high school education or equivalent
Which of the following statements best describes an attorney-in-fact? - CORRECT
ANSWER - An attorney in fact is authorized by a power of attorney to act for another
, Which individual is exempt from the licensing requirements of Florida Statute 475? - CORRECT
ANSWER - An attorney who performs legal duties in connection with a real estate
transaction
Complete this statement. An actively licensed attorney who is a member in good standing with
the Florida Bar - CORRECT ANSWER - Is excempt from continuing education
requirements to maintain a real estate license
What is a broker associate - CORRECT ANSWER - A broker who is employed as a sales
associate
Florida has an agreement with some other states that for licensees. What is the agreement
education and experience requirements recognizes the similarity in called? - CORRECT
ANSWER - Mutual recognition
Which of the following statements is true regarding a plumber who has been appointed by a
court to appraise a small business? - CORRECT ANSWER - The plumber may do so, and
be paid a fee
All of the following individuals are exempt from the real estate license law, EXCEPT: -
CORRECT ANSWER - Funeral directors performing duties of real estate for commission
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 commission. Which of the following statements is correct? -
CORRECT ANSWER - The georgia broker violated license law.
The Department of Business and to issue Professional Regulation has the authority all of the
following, EXCEPT: - CORRECT ANSWER - An injuction
What is the maximum number of years a member may serve on the Florida Real Estate
Commission? - CORRECT ANSWER - No maximum
