BOB HOGUE CHAPTER 5 EXAM
QUESTIONS AND ANSWERS
John Anderson is a licensed real estate sales associate. Under which name may he
register and be licensed: a.) Complete Real Estate Sales Services b.) John Anderson
Brokerage c.) John Anderson, LLC d.) John Anderson and Partners - Correct Answers -
John Anderson, LLC
A sales associate receives a binder deposit from a prospective buyer and Thursday
morning. Later that same day, the associate gives the binder deposit to his broker. By
the end of business on what day of the week must the broker deposit the funds into her
escrow account? a.) Friday b.) Monday c.) Tuesday d.) Wednesday - Correct Answers -
Tuesday
Real estate sales associates who receive checks payable to them as deposits on the
purchase of real property must_________________ - Correct Answers -endorse the
checks and immediately turn them over to their employers
True or False: Is it illegal for the broker to keep any earned interest even if the buyer
and the seller give written permission - Correct Answers -False
True or False: The escrow account may be wither interest bearing or non-interest
bearing. - Correct Answers -True
A broker must get written authorization from the buyer and the seller before placing
escrow funds in an interest-bearing escrow account. - Correct Answers -True
A broker may choose to have an attorney or Florida title company maintain the escrow
account. - Correct Answers -True
If a dispute arises between the buyer and the seller as to which one is entitled to escrow
on property, what should the broker do first? - Correct Answers -Notify the FREC in
writing, unless exempted from the notice requirements.
An individual who paid for rental information but did not obtain a rental is entitled to a
repayment of - Correct Answers -%75 of the fee if requested within 30 days of the
contract/receipt date
To have active status a real estate broker is required to: - Correct Answers -Open an
office and register with DBPR
, A brokerage sign must contain: - Correct Answers -1. The trade name (if applicable)
2. The broker's name
3. The words Licensed (Lic.) Real Estate Broker
4. Associates names WITH titles is optional, but one line must separate those names
from the broker name
Blind advertising - Correct Answers -Advertising that fails to disclose the license name
of the brokerage firm and provides only a post/
A woman purchased a rental list one week ago from a real estate broker. She inspected
an apartment described in the list. The apartment manager told her that cats were not
allowed. She had specifically looked at the apartment because the rental list indicated
that pets were allowed. Immediately, the orally demanded and should be allowed what
from the broker? - Correct Answers -%100 percent of the fee paid
A sales associate employs an unlicensed personal assistant to help with real estate
property management. The unlicensed assistant may NOT - Correct Answers -Show
rental property
Real Estate Sales Commission Lien Act true or false: The lien applies to commission
only and does not include other fees the owner agrees to pay in the brokerage
agreement. - Correct Answers -False
Real Estate Sales Commission Lien Act true or false: The lien is filed against the real
property covered in the brokerage agreement. - Correct Answers -False
Real Estate Sales Commission Lien Act true or false: The takes priority as of the date of
the brokerage agreement. - Correct Answers -False
Real Estate Sales Commission Lien Act true or false: The broker must disclose to the
owner at the time of signing, or before the owner signs the brokerage agreement, that
Chapter 475, Part 111, creates lien rights for commission earned by the broker. -
Correct Answers -True
When a sales associate decides to leave the employ of her broker to work for another
broker, she must - Correct Answers -Notify the DBPR within 10 days of her change in
broker-employer.
When a sales associate decides to leave the employ of her broker to work for another
broker, she must NOT - Correct Answers -take copies of any listings she obtained while
employed by her former broker or telephone clients of her former employer to
encourage them to cancel their listing agreements with the former employer and list with
her new broker
QUESTIONS AND ANSWERS
John Anderson is a licensed real estate sales associate. Under which name may he
register and be licensed: a.) Complete Real Estate Sales Services b.) John Anderson
Brokerage c.) John Anderson, LLC d.) John Anderson and Partners - Correct Answers -
John Anderson, LLC
A sales associate receives a binder deposit from a prospective buyer and Thursday
morning. Later that same day, the associate gives the binder deposit to his broker. By
the end of business on what day of the week must the broker deposit the funds into her
escrow account? a.) Friday b.) Monday c.) Tuesday d.) Wednesday - Correct Answers -
Tuesday
Real estate sales associates who receive checks payable to them as deposits on the
purchase of real property must_________________ - Correct Answers -endorse the
checks and immediately turn them over to their employers
True or False: Is it illegal for the broker to keep any earned interest even if the buyer
and the seller give written permission - Correct Answers -False
True or False: The escrow account may be wither interest bearing or non-interest
bearing. - Correct Answers -True
A broker must get written authorization from the buyer and the seller before placing
escrow funds in an interest-bearing escrow account. - Correct Answers -True
A broker may choose to have an attorney or Florida title company maintain the escrow
account. - Correct Answers -True
If a dispute arises between the buyer and the seller as to which one is entitled to escrow
on property, what should the broker do first? - Correct Answers -Notify the FREC in
writing, unless exempted from the notice requirements.
An individual who paid for rental information but did not obtain a rental is entitled to a
repayment of - Correct Answers -%75 of the fee if requested within 30 days of the
contract/receipt date
To have active status a real estate broker is required to: - Correct Answers -Open an
office and register with DBPR
, A brokerage sign must contain: - Correct Answers -1. The trade name (if applicable)
2. The broker's name
3. The words Licensed (Lic.) Real Estate Broker
4. Associates names WITH titles is optional, but one line must separate those names
from the broker name
Blind advertising - Correct Answers -Advertising that fails to disclose the license name
of the brokerage firm and provides only a post/
A woman purchased a rental list one week ago from a real estate broker. She inspected
an apartment described in the list. The apartment manager told her that cats were not
allowed. She had specifically looked at the apartment because the rental list indicated
that pets were allowed. Immediately, the orally demanded and should be allowed what
from the broker? - Correct Answers -%100 percent of the fee paid
A sales associate employs an unlicensed personal assistant to help with real estate
property management. The unlicensed assistant may NOT - Correct Answers -Show
rental property
Real Estate Sales Commission Lien Act true or false: The lien applies to commission
only and does not include other fees the owner agrees to pay in the brokerage
agreement. - Correct Answers -False
Real Estate Sales Commission Lien Act true or false: The lien is filed against the real
property covered in the brokerage agreement. - Correct Answers -False
Real Estate Sales Commission Lien Act true or false: The takes priority as of the date of
the brokerage agreement. - Correct Answers -False
Real Estate Sales Commission Lien Act true or false: The broker must disclose to the
owner at the time of signing, or before the owner signs the brokerage agreement, that
Chapter 475, Part 111, creates lien rights for commission earned by the broker. -
Correct Answers -True
When a sales associate decides to leave the employ of her broker to work for another
broker, she must - Correct Answers -Notify the DBPR within 10 days of her change in
broker-employer.
When a sales associate decides to leave the employ of her broker to work for another
broker, she must NOT - Correct Answers -take copies of any listings she obtained while
employed by her former broker or telephone clients of her former employer to
encourage them to cancel their listing agreements with the former employer and list with
her new broker
