Gold Coast UPDATED ACTUAL Exam
Questions and CORRECT Answers
Tract Building - CORRECT ANSWER - when a developer acquires a large tract of land,
records a subdivision plat map, and uses a model center from which sales may be made.
moratorium - CORRECT ANSWER - Local governments can impose a moratorium or
temporary delay
Commission refers to - CORRECT ANSWER - Florida Real Estate Commission (FREC)
Department refers to - CORRECT ANSWER - Department of Business and Professional
Regulation (DBPR)
In order to become a Broker you must - CORRECT ANSWER - Be a sales associate for 2
years in the last preceding 5 years
What is a broker associate? - CORRECT ANSWER - A sales associate that has a brokers
license
What are the requirements to have a real estate license - CORRECT ANSWER - 18 years
of age
High school diploma or equivalent
Doesn't have to be US citizen
Must have a social security number
How many days do you have to request a formal hearing for a application denial - CORRECT
ANSWER - 21
, Do you request a formal hearing or appeal for a application denial - CORRECT
ANSWER - Request a formal hearing
What do you have to do after receiving your real estate license - CORRECT ANSWER -A
45 hour post license course
If you don't complete continued education after 2 years your license becomes. - CORRECT
ANSWER - Involuntary Inactive
Attorneys in fact are - CORRECT ANSWER - Persons who are granted authority under a
power of attorney to act for others in some capacity such as signing documents
An administrative fine may not exceed________________ Per offense - CORRECT
ANSWER - $5,000
T/F the department has the authority to issue injunctions against unlicensed persons - CORRECT
ANSWER - False
Licensees May be suspended for up to______ - CORRECT ANSWER - 10 years
If licensees do not complete the post license requirements prior to expiration of the initial license
then the result will be - CORRECT ANSWER - Null and void to the license status
A license may remain involuntary inactive for how long - CORRECT ANSWER - 2 years
Single agent - CORRECT ANSWER - A broker may represent only a seller or only a
buyer. Any attempt to represent both parties in a transaction would create an illegal dual agency
Concealment - CORRECT ANSWER - A broker has a duty to transmit any and all offers
to the employer including oral or offers made without a binder deposit. Not doing this would be
considered concealment
Questions and CORRECT Answers
Tract Building - CORRECT ANSWER - when a developer acquires a large tract of land,
records a subdivision plat map, and uses a model center from which sales may be made.
moratorium - CORRECT ANSWER - Local governments can impose a moratorium or
temporary delay
Commission refers to - CORRECT ANSWER - Florida Real Estate Commission (FREC)
Department refers to - CORRECT ANSWER - Department of Business and Professional
Regulation (DBPR)
In order to become a Broker you must - CORRECT ANSWER - Be a sales associate for 2
years in the last preceding 5 years
What is a broker associate? - CORRECT ANSWER - A sales associate that has a brokers
license
What are the requirements to have a real estate license - CORRECT ANSWER - 18 years
of age
High school diploma or equivalent
Doesn't have to be US citizen
Must have a social security number
How many days do you have to request a formal hearing for a application denial - CORRECT
ANSWER - 21
, Do you request a formal hearing or appeal for a application denial - CORRECT
ANSWER - Request a formal hearing
What do you have to do after receiving your real estate license - CORRECT ANSWER -A
45 hour post license course
If you don't complete continued education after 2 years your license becomes. - CORRECT
ANSWER - Involuntary Inactive
Attorneys in fact are - CORRECT ANSWER - Persons who are granted authority under a
power of attorney to act for others in some capacity such as signing documents
An administrative fine may not exceed________________ Per offense - CORRECT
ANSWER - $5,000
T/F the department has the authority to issue injunctions against unlicensed persons - CORRECT
ANSWER - False
Licensees May be suspended for up to______ - CORRECT ANSWER - 10 years
If licensees do not complete the post license requirements prior to expiration of the initial license
then the result will be - CORRECT ANSWER - Null and void to the license status
A license may remain involuntary inactive for how long - CORRECT ANSWER - 2 years
Single agent - CORRECT ANSWER - A broker may represent only a seller or only a
buyer. Any attempt to represent both parties in a transaction would create an illegal dual agency
Concealment - CORRECT ANSWER - A broker has a duty to transmit any and all offers
to the employer including oral or offers made without a binder deposit. Not doing this would be
considered concealment
