GOLD COAST REAL ESTATE - ACTUAL EXAM
COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+||BRAND NEW!!
A developer contracts to build a home according to the buyer's specifications.
This is an example of which type of building? - 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? - Property Taxes, Building Moratoriums, and zoning
Real estate licensees are expected to be knowledgeable in all of the following,
EXCEPT: - Accounting
A sales associate failed to complete the required post-license education prior to
renewal. What is the status of the license? - Void
How may a licensed sales associate be paid by their owner-developer? - On
a commission or salary basis
What are the minimum employment requirements for a licensed sales associate
to qualify for a real estate brokers license? - Employed for 24 months
under one or more actively licensed broker
,All of the following services require a real estate license, EXCEPT: -
Mortgaging
What must an applicant for a real estate license do if the have been convicted of a
crime? - The applicant must disclose all convictions on the application
Which condition must exists for an applicant to qualify for a Florida real estate
license? - The applicant must have a high school education or equivalent
Which of the following statements best describes an attorney-in-fact? - An
attorney in fact is authorized by a power of attorney to act for another.
What is a brokers associate? - A broker who is employed as a sales
associate
The Department of business and Professional Regulation has the authority to
issue all of the following, EXCEPT: - An injunction
Which of the following entities issues real estate licenses? - The
Department of Business and Professional Regulation
After being active in the real estate business for over five years, a licensee's
license expired on September 30th. What is the status of the license on October
1st? - Involuntary Inactive
, What action may the Department take if it determines that an unlicensed person
has operated in violation of a law or rule under its administration? - An
administrative fine of up to $5,000 may be imposed
A sales associate is employed by a broker Monday through Friday and for a
builder on the weekends. The sales associate feels the added experience is
beneficial especially since both employers pay an attractive commission split.
Which statement is correct? - This arrangement violates the license law
The DBPR is created by which statute? - F.S. 455
Who owes fiduciary duties in a single agency relationship? - The broker
only
In which of the following situations does a general agency relationship exist? -
When a sales associate is employed by a broker
Broker Joan just received an oral offer to purchase a listed property. No earnest
money accompanied the oral offer. Which of the following statements is correct?
- Joan must present the offer.
Which of the following statements best describes a transaction broker? - A
transaction broker may provide limited representation to both parties.
Mary, an Ohio broker, accompanied a customer to Florida and met with broker
Stan in his office in Miami. While Stan showed the customer property and
obtained a binding contract for the purchase of a condominium, Mary took some
time off and went to the beach. When Mary returned to Stan's office, she
COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+||BRAND NEW!!
A developer contracts to build a home according to the buyer's specifications.
This is an example of which type of building? - 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? - Property Taxes, Building Moratoriums, and zoning
Real estate licensees are expected to be knowledgeable in all of the following,
EXCEPT: - Accounting
A sales associate failed to complete the required post-license education prior to
renewal. What is the status of the license? - Void
How may a licensed sales associate be paid by their owner-developer? - On
a commission or salary basis
What are the minimum employment requirements for a licensed sales associate
to qualify for a real estate brokers license? - Employed for 24 months
under one or more actively licensed broker
,All of the following services require a real estate license, EXCEPT: -
Mortgaging
What must an applicant for a real estate license do if the have been convicted of a
crime? - The applicant must disclose all convictions on the application
Which condition must exists for an applicant to qualify for a Florida real estate
license? - The applicant must have a high school education or equivalent
Which of the following statements best describes an attorney-in-fact? - An
attorney in fact is authorized by a power of attorney to act for another.
What is a brokers associate? - A broker who is employed as a sales
associate
The Department of business and Professional Regulation has the authority to
issue all of the following, EXCEPT: - An injunction
Which of the following entities issues real estate licenses? - The
Department of Business and Professional Regulation
After being active in the real estate business for over five years, a licensee's
license expired on September 30th. What is the status of the license on October
1st? - Involuntary Inactive
, What action may the Department take if it determines that an unlicensed person
has operated in violation of a law or rule under its administration? - An
administrative fine of up to $5,000 may be imposed
A sales associate is employed by a broker Monday through Friday and for a
builder on the weekends. The sales associate feels the added experience is
beneficial especially since both employers pay an attractive commission split.
Which statement is correct? - This arrangement violates the license law
The DBPR is created by which statute? - F.S. 455
Who owes fiduciary duties in a single agency relationship? - The broker
only
In which of the following situations does a general agency relationship exist? -
When a sales associate is employed by a broker
Broker Joan just received an oral offer to purchase a listed property. No earnest
money accompanied the oral offer. Which of the following statements is correct?
- Joan must present the offer.
Which of the following statements best describes a transaction broker? - A
transaction broker may provide limited representation to both parties.
Mary, an Ohio broker, accompanied a customer to Florida and met with broker
Stan in his office in Miami. While Stan showed the customer property and
obtained a binding contract for the purchase of a condominium, Mary took some
time off and went to the beach. When Mary returned to Stan's office, she
