Gold Coast Real Estate Final Exam
Study Guide (only contains highlights
from Ch's 1, 2,3,4 and some of 11)
A broking can be issued addtl licenses in two or extra capacities with the aid of: (Ch. Three) -
ANS-requesting more than one licenses
A dealer earns a right to repayment by means of: (Ch.4) - ANS-performance
whilst the broking has performed, the corporation owes the dealer a fee even though the
transaction became no longer completed. In instances in which the amount of compensation
wasn't special on agreement, a standard commission can be due based on the type of
belongings and rate the broker could normally charge.
A broking has a responsibility to transmit any and all gives to the business enterprise together
with: (Ch. Four) - ANS-oral gives and offers made with out a binder deposit
A sales companion is a fashionable agent of the broking and robotically becomes a: (Ch. Four) -
ANS-subagent of all of the brokers principals
as an agent of the broker, a s.A has the equal responsibilities to the brokers principals, similar to
the dealer
A income partner or broking associate is considered what sort of agent in their personal
developer (Ch. 4) - ANS-wellknown agent
A income partner or broker accomplice is registered with the broking as ones agent but by no
means an agent of: (Ch.Four) - ANS-the brokers essential
A sales companion who wishes to a broking need to: (Ch. 2) - ANS-had been employed below
one or extra actively certified brokers for as a minimum 24 months in the preceding five years
A vast departure is allowed in the law for brokerage places of work in: (Ch. 4) -
ANS-nonresidential transactions
If both vendor and client have property of $1 million or greater and request single agent
representation, the dealer can also designate income associates to be unmarried agents for diff.
Clients in the transaction
, An company relationship is created whilst: (Ch.Four) - ANS-a broker accepts employment below
a unmarried company settlement
The dealer represents the customer and any try and represent both events in a transaction
would create an unlawful dual organisation
An applicant for a Florida real estate license is not required to be a: (Ch. 2) - ANS-resident of
Florida or be a citizen of the U.S
Application Denial (Ch. 2) - ANS-If an utility to take the country exam is denied by means of the
Department, the applicant could be notified in writing. The notification will become aware of the
reasons for denial and suggest the applicant that she or he has 21 days from the date of receipt
to request a formal hearing earlier than an administrative law judge
according with F.S. One hundred twenty, The Administrative Procedure Act
Assignment of Contract (Ch. Eleven) - ANS-sale transfer, subrogation of rights in a contract
Broker (Ch. 2) - ANS-someone who plays offerings of real estate for some other and gets
repayment for the ones offerings either immediately or in a roundabout way
Broker Associate (Ch. 2) - ANS-an applicant to become a "broker accomplice" may also chose
to keep employment in a sales associate role with current business enterprise after passing the
exam however will be registered beneath a "broker accomplice" after passing the examination
an character who meets the requirements of a broking however who chooses to paintings in
actual estate beneath the route (employ) of another broker.
Brokerage Relationship Disclosure Act (Ch. Four) - ANS-requires licensees to preserve copies
of disclosure files for 5 years
Commission (Ch. 2) - ANS-Florida Real Estate Commission (FREC)
Consideration (Ch. 11) - ANS-enough consideration, precious or suitable attention is sufficient,
valuable attention is cash or anything of fee that can be transformed into cash.
Continuing Education (CE) (Ch. 2) - ANS-All energetic or inactive licensees, whether a broker or
income partner, need to complete 14 hours of Commission-authorised CE and pay a renewal
rate throughout each license renewal period, with the exception of the first renewal period of
their modern-day license. If the CE requirement is not met in the renewal closing date, the
licencee's license repute may be modified to involuntary inactive.
CE guides may be finished by way of lecture room instruction or distance learning.
Study Guide (only contains highlights
from Ch's 1, 2,3,4 and some of 11)
A broking can be issued addtl licenses in two or extra capacities with the aid of: (Ch. Three) -
ANS-requesting more than one licenses
A dealer earns a right to repayment by means of: (Ch.4) - ANS-performance
whilst the broking has performed, the corporation owes the dealer a fee even though the
transaction became no longer completed. In instances in which the amount of compensation
wasn't special on agreement, a standard commission can be due based on the type of
belongings and rate the broker could normally charge.
A broking has a responsibility to transmit any and all gives to the business enterprise together
with: (Ch. Four) - ANS-oral gives and offers made with out a binder deposit
A sales companion is a fashionable agent of the broking and robotically becomes a: (Ch. Four) -
ANS-subagent of all of the brokers principals
as an agent of the broker, a s.A has the equal responsibilities to the brokers principals, similar to
the dealer
A income partner or broking associate is considered what sort of agent in their personal
developer (Ch. 4) - ANS-wellknown agent
A income partner or broker accomplice is registered with the broking as ones agent but by no
means an agent of: (Ch.Four) - ANS-the brokers essential
A sales companion who wishes to a broking need to: (Ch. 2) - ANS-had been employed below
one or extra actively certified brokers for as a minimum 24 months in the preceding five years
A vast departure is allowed in the law for brokerage places of work in: (Ch. 4) -
ANS-nonresidential transactions
If both vendor and client have property of $1 million or greater and request single agent
representation, the dealer can also designate income associates to be unmarried agents for diff.
Clients in the transaction
, An company relationship is created whilst: (Ch.Four) - ANS-a broker accepts employment below
a unmarried company settlement
The dealer represents the customer and any try and represent both events in a transaction
would create an unlawful dual organisation
An applicant for a Florida real estate license is not required to be a: (Ch. 2) - ANS-resident of
Florida or be a citizen of the U.S
Application Denial (Ch. 2) - ANS-If an utility to take the country exam is denied by means of the
Department, the applicant could be notified in writing. The notification will become aware of the
reasons for denial and suggest the applicant that she or he has 21 days from the date of receipt
to request a formal hearing earlier than an administrative law judge
according with F.S. One hundred twenty, The Administrative Procedure Act
Assignment of Contract (Ch. Eleven) - ANS-sale transfer, subrogation of rights in a contract
Broker (Ch. 2) - ANS-someone who plays offerings of real estate for some other and gets
repayment for the ones offerings either immediately or in a roundabout way
Broker Associate (Ch. 2) - ANS-an applicant to become a "broker accomplice" may also chose
to keep employment in a sales associate role with current business enterprise after passing the
exam however will be registered beneath a "broker accomplice" after passing the examination
an character who meets the requirements of a broking however who chooses to paintings in
actual estate beneath the route (employ) of another broker.
Brokerage Relationship Disclosure Act (Ch. Four) - ANS-requires licensees to preserve copies
of disclosure files for 5 years
Commission (Ch. 2) - ANS-Florida Real Estate Commission (FREC)
Consideration (Ch. 11) - ANS-enough consideration, precious or suitable attention is sufficient,
valuable attention is cash or anything of fee that can be transformed into cash.
Continuing Education (CE) (Ch. 2) - ANS-All energetic or inactive licensees, whether a broker or
income partner, need to complete 14 hours of Commission-authorised CE and pay a renewal
rate throughout each license renewal period, with the exception of the first renewal period of
their modern-day license. If the CE requirement is not met in the renewal closing date, the
licencee's license repute may be modified to involuntary inactive.
CE guides may be finished by way of lecture room instruction or distance learning.
