GOLD COAST REAL ESTATE COMPREHENSIVE UPDATED
EXAM QUESTIONS AND ANSWERS GRADED A+
✔✔Flood hazard areas - ✔✔do to the nature of Florida grounds, many properties lie
within federally designated
flood hazard areas that require adherence to specified construction standards and must
be covered by flood insurance to qualify as security for a loan
✔✔construction and development - ✔✔1) land acquisition
2) subdiving and development
3) recording of the subdivision plat map
✔✔construction and development explained - ✔✔contractors and developers add the
home, office, factories, etc. as improvement to the land to make it suitable for
occupancy , purchase and profit. so pretty much the developers acquire land, then they
subdivide it into streets, lots. once approved by the city or county government, a
subdivision plat map is recorded. building permits are issued once the plat map has
been made part of public record.
✔✔dedication - ✔✔the transfer of ownership of the finished street and sidewalks by the
developer to the city or county, and gives the public the right of use.
✔✔custom buildings - ✔✔when a contractor is employed to build a structure according
to the customers specifications
✔✔speculative building - ✔✔also known as building on spec. when a contractor is
building a structure before securing a buyer, with the hopes of selling the structure when
finished.
✔✔tract building - ✔✔large tract of land acquire by the developer, records a subdivision
plat map and uses a model center from which sales may be made
✔✔professional organizations - ✔✔formed by voluntary membership of individuals
looking to further their skills and knowledge. belonging to an organization adds
credibility to your resume, gives you a lot of opportunity to use MLS system as well as
downloadable forms
✔✔national association of REALTORS (NAR) - ✔✔the nations largest trade and
professional association, with a goal of preserving the right of individuals to own real
property through exchange of information. members must perform and agree to abide
by a strict code of ethics, and provide optimum service to the public.
✔✔Florida Association REALTORS (FAR) - ✔✔Largest trade association in the state.
offers membership benefits such as Business contacts, discount programs, online
forms, technology, legal forms.
, ✔✔local association of REALTORS - ✔✔joining such association will grant membership
in FAR and NAR. if a broker is a member, all the associates must also join. gives
access to MLS.
✔✔local government regulations - ✔✔Planning, zoning, real estate taxes building and
health codes. due to environmental concerns or adequate utilities are in place. permits
held until corrected.
✔✔state government regulations - ✔✔developments of regional impact (DRI)
department of enviromental protection (DEP)
department of economic opportunity (DEO)
roads, waterways, and other factors that affect multiple political jurisdiction.
✔✔federal government regulations - ✔✔monetary policy adopted by the federal reserve
system has a daily influence on the construction and real estate industries.
✔✔purpose of the real estate law - ✔✔to protect public, FS 475
✔✔caveat emptor - ✔✔let the buyer beware
✔✔FREC - ✔✔Florida Real Estate Commission. created to administer and enforce the
law. THE COMMISSION
✔✔DBPR - ✔✔Department of Business and Professional Regulation. THE
DEPARTMENT
✔✔DRE - ✔✔Division of Real Estate. handle all real state activities. THE DIVISION
✔✔1st florida law - ✔✔established in 1923, although ineffective
✔✔Florida Statue Chapter 475 - ✔✔Was created by the Florida legislature to establish
the legal rights and responsibilities of real estate licensees and real estate appraisers.
✔✔DPR - ✔✔department of professional regulation
✔✔F.S. 475 Part 1 - ✔✔administered by the FREC, concerned with the licensures and
regulation of real estate licensees and schools.
✔✔fs 475 part 2 - ✔✔administered by the FREAB Florida real estate appraisal board.
deals with the registration, licensure and certification of appraisers required in federally
related transactions.
✔✔fs 475 part 3 - ✔✔commercial real estate sales commission lien act
EXAM QUESTIONS AND ANSWERS GRADED A+
✔✔Flood hazard areas - ✔✔do to the nature of Florida grounds, many properties lie
within federally designated
flood hazard areas that require adherence to specified construction standards and must
be covered by flood insurance to qualify as security for a loan
✔✔construction and development - ✔✔1) land acquisition
2) subdiving and development
3) recording of the subdivision plat map
✔✔construction and development explained - ✔✔contractors and developers add the
home, office, factories, etc. as improvement to the land to make it suitable for
occupancy , purchase and profit. so pretty much the developers acquire land, then they
subdivide it into streets, lots. once approved by the city or county government, a
subdivision plat map is recorded. building permits are issued once the plat map has
been made part of public record.
✔✔dedication - ✔✔the transfer of ownership of the finished street and sidewalks by the
developer to the city or county, and gives the public the right of use.
✔✔custom buildings - ✔✔when a contractor is employed to build a structure according
to the customers specifications
✔✔speculative building - ✔✔also known as building on spec. when a contractor is
building a structure before securing a buyer, with the hopes of selling the structure when
finished.
✔✔tract building - ✔✔large tract of land acquire by the developer, records a subdivision
plat map and uses a model center from which sales may be made
✔✔professional organizations - ✔✔formed by voluntary membership of individuals
looking to further their skills and knowledge. belonging to an organization adds
credibility to your resume, gives you a lot of opportunity to use MLS system as well as
downloadable forms
✔✔national association of REALTORS (NAR) - ✔✔the nations largest trade and
professional association, with a goal of preserving the right of individuals to own real
property through exchange of information. members must perform and agree to abide
by a strict code of ethics, and provide optimum service to the public.
✔✔Florida Association REALTORS (FAR) - ✔✔Largest trade association in the state.
offers membership benefits such as Business contacts, discount programs, online
forms, technology, legal forms.
, ✔✔local association of REALTORS - ✔✔joining such association will grant membership
in FAR and NAR. if a broker is a member, all the associates must also join. gives
access to MLS.
✔✔local government regulations - ✔✔Planning, zoning, real estate taxes building and
health codes. due to environmental concerns or adequate utilities are in place. permits
held until corrected.
✔✔state government regulations - ✔✔developments of regional impact (DRI)
department of enviromental protection (DEP)
department of economic opportunity (DEO)
roads, waterways, and other factors that affect multiple political jurisdiction.
✔✔federal government regulations - ✔✔monetary policy adopted by the federal reserve
system has a daily influence on the construction and real estate industries.
✔✔purpose of the real estate law - ✔✔to protect public, FS 475
✔✔caveat emptor - ✔✔let the buyer beware
✔✔FREC - ✔✔Florida Real Estate Commission. created to administer and enforce the
law. THE COMMISSION
✔✔DBPR - ✔✔Department of Business and Professional Regulation. THE
DEPARTMENT
✔✔DRE - ✔✔Division of Real Estate. handle all real state activities. THE DIVISION
✔✔1st florida law - ✔✔established in 1923, although ineffective
✔✔Florida Statue Chapter 475 - ✔✔Was created by the Florida legislature to establish
the legal rights and responsibilities of real estate licensees and real estate appraisers.
✔✔DPR - ✔✔department of professional regulation
✔✔F.S. 475 Part 1 - ✔✔administered by the FREC, concerned with the licensures and
regulation of real estate licensees and schools.
✔✔fs 475 part 2 - ✔✔administered by the FREAB Florida real estate appraisal board.
deals with the registration, licensure and certification of appraisers required in federally
related transactions.
✔✔fs 475 part 3 - ✔✔commercial real estate sales commission lien act
