45 Hour Post License Florida
Questions with Verified Answers
Farming - ANSWERSConcentrating on one type of style of property or on one particular
neighborhood
A residential transaction os defined in F.S. 475 as the sale of any: - ANSWERS- Duplex
- improved residential property of four units or fewer, including condominium units
-unimproved property intended for four units or fewer
- agricultural properties of ten acres or less
- leases with options to purchase all or a portion of improved property of four or fewer
residential units
- dispositions of business interests for property of four or fewer residential units
absentee owners - ANSWERSowners who buy income property as investments and
depend on professionals to manage them
All appraisals, whether performed by a licensed appraiser or a real estate licensee,
must be developed and reported in conformity with the - ANSWERSUniform Standards
of Professional Appraisal Practice (USPAP)
The largest and most prestigious real estate organization in the world is ________.
They work for legislation enforce professional standards of conduct through its
________. - ANSWERS1. The National Association of Realtors (NAR)
2. Code of Ethics
The largest trade association in the state is _________ - ANSWERSThe Florida
Association of Realtors (FAR)
The duties required by the Code of Ethics are: - ANSWERS1. Duties to clients and
customers
2. Duties to the public in general
3. Duties to other real estate licensees
Required Skills for the Real estate professional are: - ANSWERS1. Valuation - Must be
able to discern important differences between properties and know ho to translate those
differences into value. Must be able to conduct a CMA.
2. Marketing - must have an understanding of the tools and technologies available to
market a property.
3. Property Transfer - understand how to close a transaction
Mission Statement - ANSWERSdescription of a desired outcome that excites,
motivates, and helps you to create a mental picture of your business goal.
, Industrial Sales or Leasing - ANSWERSinclude warehouses and manufacturing
facilities. Industrial sales and leasing generally involve user/owners, rather than
investors.
The law that specifically regulates real estate licensees, schools, and appraisers is
_________ - ANSWERSF.S. 475
The Range Of Penalties for disobeying FS 475 or 455 from lowest to highest is: -
ANSWERSReprimand, fine, probation, suspension, and revocation or denial.
Which is the maximum penalty for disobeying laws under FS 455 or FS 475 -
ANSWERSRevocation or denial of license
If the licensee does not complete the 45 hour course before the expiration date of their
first renewal, the license becomes ____ - ANSWERSvoid and the licensee will be out of
business. (have to start over everything)
When a sales associate changes employers, they must notify the Commission of the
change no later than ________ days after the change by using the form provided by the
commission. - ANSWERS10
Advertisements may not be - ANSWERSfraudulent, false, deceptive, or misleading.
Advertising false, inaccurate, misleading or exaggerated information could result in
____________ - ANSWERSthe issuance of a citation and a fine of $500
A sales associate who receives a deposit must deliver it to the broker or employer no
later than - ANSWERSthe end of the business day following the receipt of the item to be
deposited
A sales associate may not collect money in connection with a real estate transaction
except - ANSWERSin the name of the employer (cannot be payed by buyer or seller)
A sales associate receives compensation only from his or her ______. A sales
associate can however be paid a portion of a commission by a closing agent if such
instructions have been provided in writing by the _____. - ANSWERS1. broker
2. broker
Single agents are held accountable for what four specific duties? - ANSWERS1.
Confidentiality
2. Obedience
3. Loyalty
4. Full Disclosure
Questions with Verified Answers
Farming - ANSWERSConcentrating on one type of style of property or on one particular
neighborhood
A residential transaction os defined in F.S. 475 as the sale of any: - ANSWERS- Duplex
- improved residential property of four units or fewer, including condominium units
-unimproved property intended for four units or fewer
- agricultural properties of ten acres or less
- leases with options to purchase all or a portion of improved property of four or fewer
residential units
- dispositions of business interests for property of four or fewer residential units
absentee owners - ANSWERSowners who buy income property as investments and
depend on professionals to manage them
All appraisals, whether performed by a licensed appraiser or a real estate licensee,
must be developed and reported in conformity with the - ANSWERSUniform Standards
of Professional Appraisal Practice (USPAP)
The largest and most prestigious real estate organization in the world is ________.
They work for legislation enforce professional standards of conduct through its
________. - ANSWERS1. The National Association of Realtors (NAR)
2. Code of Ethics
The largest trade association in the state is _________ - ANSWERSThe Florida
Association of Realtors (FAR)
The duties required by the Code of Ethics are: - ANSWERS1. Duties to clients and
customers
2. Duties to the public in general
3. Duties to other real estate licensees
Required Skills for the Real estate professional are: - ANSWERS1. Valuation - Must be
able to discern important differences between properties and know ho to translate those
differences into value. Must be able to conduct a CMA.
2. Marketing - must have an understanding of the tools and technologies available to
market a property.
3. Property Transfer - understand how to close a transaction
Mission Statement - ANSWERSdescription of a desired outcome that excites,
motivates, and helps you to create a mental picture of your business goal.
, Industrial Sales or Leasing - ANSWERSinclude warehouses and manufacturing
facilities. Industrial sales and leasing generally involve user/owners, rather than
investors.
The law that specifically regulates real estate licensees, schools, and appraisers is
_________ - ANSWERSF.S. 475
The Range Of Penalties for disobeying FS 475 or 455 from lowest to highest is: -
ANSWERSReprimand, fine, probation, suspension, and revocation or denial.
Which is the maximum penalty for disobeying laws under FS 455 or FS 475 -
ANSWERSRevocation or denial of license
If the licensee does not complete the 45 hour course before the expiration date of their
first renewal, the license becomes ____ - ANSWERSvoid and the licensee will be out of
business. (have to start over everything)
When a sales associate changes employers, they must notify the Commission of the
change no later than ________ days after the change by using the form provided by the
commission. - ANSWERS10
Advertisements may not be - ANSWERSfraudulent, false, deceptive, or misleading.
Advertising false, inaccurate, misleading or exaggerated information could result in
____________ - ANSWERSthe issuance of a citation and a fine of $500
A sales associate who receives a deposit must deliver it to the broker or employer no
later than - ANSWERSthe end of the business day following the receipt of the item to be
deposited
A sales associate may not collect money in connection with a real estate transaction
except - ANSWERSin the name of the employer (cannot be payed by buyer or seller)
A sales associate receives compensation only from his or her ______. A sales
associate can however be paid a portion of a commission by a closing agent if such
instructions have been provided in writing by the _____. - ANSWERS1. broker
2. broker
Single agents are held accountable for what four specific duties? - ANSWERS1.
Confidentiality
2. Obedience
3. Loyalty
4. Full Disclosure
