09-FL-E FL REAL ESTATE LAWS AND RULES
EXAM 2026 COMPLETE STUDY GUIDE
◉ canceled. Answer: describes a license that has become null and
void because the licensee voluntarily chose to relinquish it
◉ cease to be in force. Answer: describes a license that is not active
due to a failure to notify the Florida Real Estate Commission of an
important change, such as a change in employer or address
◉ current. Answer: not expired
◉ group license. Answer: a license that allows a sales associate or
broker associate to conduct real estate transactions for multiple
entities owned by the same owner-developer
◉ inactive. Answer: a temporary, correctable status describing a
license that does not enable the licensee to engage in any
professional real estate activities
◉ involuntarily inactive. Answer: describes a license that is inactive
due to either a failure to meet renewal requirements or the lack of
an employing broker
, ◉ license authority voided. Answer: license has been canceled and is
no longer in use
◉ multiple licenses. Answer: two or more licenses held by a single
broker who conducts multiple business entities at the same time
◉ null and void. Answer: lacking legal or binding force; invalid
◉ voluntarily inactive. Answer: describes a license that is inactive by
choice; the licensee requests the status change from the DBPR
◉ caveat emptor. Answer: the concept that a buyer is responsible for
verifying the quality and value of the goods prior to the purchase
◉ broker. Answer: A person or business entity who is licensed to
represent one of the parties in a real estate transaction in exchange
for a commission or other valuable consideration
◉ broker associate. Answer: an individual who meets the licensure
requirements to be a real estate broker but provides real estate
brokerage services as an independent contractor to a real estate
broker
EXAM 2026 COMPLETE STUDY GUIDE
◉ canceled. Answer: describes a license that has become null and
void because the licensee voluntarily chose to relinquish it
◉ cease to be in force. Answer: describes a license that is not active
due to a failure to notify the Florida Real Estate Commission of an
important change, such as a change in employer or address
◉ current. Answer: not expired
◉ group license. Answer: a license that allows a sales associate or
broker associate to conduct real estate transactions for multiple
entities owned by the same owner-developer
◉ inactive. Answer: a temporary, correctable status describing a
license that does not enable the licensee to engage in any
professional real estate activities
◉ involuntarily inactive. Answer: describes a license that is inactive
due to either a failure to meet renewal requirements or the lack of
an employing broker
, ◉ license authority voided. Answer: license has been canceled and is
no longer in use
◉ multiple licenses. Answer: two or more licenses held by a single
broker who conducts multiple business entities at the same time
◉ null and void. Answer: lacking legal or binding force; invalid
◉ voluntarily inactive. Answer: describes a license that is inactive by
choice; the licensee requests the status change from the DBPR
◉ caveat emptor. Answer: the concept that a buyer is responsible for
verifying the quality and value of the goods prior to the purchase
◉ broker. Answer: A person or business entity who is licensed to
represent one of the parties in a real estate transaction in exchange
for a commission or other valuable consideration
◉ broker associate. Answer: an individual who meets the licensure
requirements to be a real estate broker but provides real estate
brokerage services as an independent contractor to a real estate
broker
