Gold Coast FINAL EXAM STUDY SET for
4/11 UPDATED ACTUAL Exam Questions
and CORRECT Answers
what are the the areas a realtor should be an expert in? - CORRECT ANSWER -
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?
- CORRECT ANSWER - 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? -
CORRECT ANSWER - must disclose all convictions
Employment - CORRECT ANSWER - an associate can only have one employer at a time
What's the grace period for a Sales associate's first renewal? Post Licensing - CORRECT
ANSWER - no grace period, void and null
Individuals who are exempt from licensure - CORRECT ANSWER - Salaried Employees
How long can one stay involuntary inactive? - CORRECT ANSWER - 2 years
What happens to an associates license if a broker's license is void, suspended, or revoked? -
CORRECT ANSWER - their license automatically becomes inactive
, Multiple Licenses - CORRECT ANSWER - 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 - CORRECT ANSWER - a broker who provides limited
representation to a buyer, seller, or both, in a real estate transaction
*not an AGENT*
Presenting Offers - CORRECT ANSWER - must present all offers
A broker is entitled to compensation if they... - CORRECT ANSWER - bring a buyer who
brings an offer the seller was looking for
Listing Contract - CORRECT ANSWER - 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? - CORRECT
ANSWER - 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? - CORRECT
ANSWER - you cannot give him a referral fee for sending you a client
Principal Brokerage office - CORRECT ANSWER - -registration is good for 2 years
-can switch locations
branch brokerage office - CORRECT ANSWER - -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
4/11 UPDATED ACTUAL Exam Questions
and CORRECT Answers
what are the the areas a realtor should be an expert in? - CORRECT ANSWER -
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?
- CORRECT ANSWER - 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? -
CORRECT ANSWER - must disclose all convictions
Employment - CORRECT ANSWER - an associate can only have one employer at a time
What's the grace period for a Sales associate's first renewal? Post Licensing - CORRECT
ANSWER - no grace period, void and null
Individuals who are exempt from licensure - CORRECT ANSWER - Salaried Employees
How long can one stay involuntary inactive? - CORRECT ANSWER - 2 years
What happens to an associates license if a broker's license is void, suspended, or revoked? -
CORRECT ANSWER - their license automatically becomes inactive
, Multiple Licenses - CORRECT ANSWER - 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 - CORRECT ANSWER - a broker who provides limited
representation to a buyer, seller, or both, in a real estate transaction
*not an AGENT*
Presenting Offers - CORRECT ANSWER - must present all offers
A broker is entitled to compensation if they... - CORRECT ANSWER - bring a buyer who
brings an offer the seller was looking for
Listing Contract - CORRECT ANSWER - 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? - CORRECT
ANSWER - 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? - CORRECT
ANSWER - you cannot give him a referral fee for sending you a client
Principal Brokerage office - CORRECT ANSWER - -registration is good for 2 years
-can switch locations
branch brokerage office - CORRECT ANSWER - -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
