Chapter 1 Review Questions & Practice Exam 45 hr Post licensing 100% solved questions and answers

CHAPTER 1 REVIEW QUESTIONS & i i i i




PRACTICE EXAM 45 HR POST LICENSING
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100%
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SOLVED QUESTIONS AND i i




ANSWERS
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Farming i ibb- i ibbSpecilizing i ibbn i ibbone i ibbtype i ibbof i ibbproperty i ibbor i ibbon i ibbone i ibbparticular i
ibbneighborhood i ibbis i ibba i ibbpractice i ibbreferred i ibbto i ibbas i
i

The i ibbsale i ibbof i ibbany i ibbimproved i ibbresidential i ibbproperty i ibb4 i ibbunits i ibbor i ibbfewer, i
ibbincluding i ibbcondo i ibbunits, i ibbunimproved i ibbproperty i ibbintended i ibbfor i ibb4 i ibbunits i ibbor i


ibbfewer, i ibbagricultural i ibbproperties i ibb10 i ibbacres i ibbor i ibbless, i ibbleases i ibbwith i ibboptions i ibbto


i ibbpurchase i ibball i ibbor i ibbairtime i ibbof i ibbimproved i ibbproperty i ibbof i ibb4 i ibbor i ibbfewer i ibbres. i


ibbUnits i ibband i ibbdisposition i ibbof i ibbbusiness i ibbinterest i ibbin i ibb4 i ibbunit i ibbbldg i ibb- i ibbA i


ibbresidential i ibbtransaction i ibbis i ibbdefined i ibbas i
i

Industrial i ibbsales i ibb- i ibbA i ibbbusiness i ibbspecialization i ibbwhere i ibblicensees i ibbassist i
ibbcustomers i ibbin i ibblocating i ibband i ibbpurchasing i ibbor i ibbleasing i ibbwarehouse i ibbor i


ibbmanufacturing i ibbfacilities. i
i

NAR i ibb i
Realtor i ibb- i ibbA i ibblarge i ibbnational i ibborganization i ibbof i ibbreal i ibbestate i ibbprofessionals i
ibbwhose i ibbmembers i ibbare i ibbentitled i ibbto i ibbuse i ibbthe i ibbtrademark i ibbof i ibb-----/ i
i

NAR i ibbCode i ibbof i ibbEthics i ibb- i ibbCode i ibbestablished i ibbto i ibbpromote i ibba i ibbhigher i
ibbstandards i ibbof i ibbconduct i ibbin i ibbyhe i ibbreal i ibbestate i ibbprofession i ibbhan i ibbrhe i ibblaw i


ibbprovides. i
i

Clients i ibband i ibbcustomers i ibbthe i ibbpublic i ibband i ibbother i ibbreal i ibbestate i ibblicensees i ibb- i
ibbThe i ibbNAR i ibbcode i ibbethics i ibband i ibbthe i ibbduties i ibbof i ibbrealtors. i
i

Valuation i ibbmarketing i ibband i ibbproperty i ibbtransfer i ibb- i ibbReal i ibbestate i ibbprofessionals i
ibbare i ibbexpected i ibbto i ibbhave i ibbexpert i ibbknowledge i ibbin i ibbthese i ibbareas i
i

Multiple i ibblisting i ibbservice i ibb- i ibbThis i ibbsystem i ibbprovide i ibba i ibbdetail i ibbdatabase i ibbof i
ibbproperties i ibbof i ibball i ibbkinds i ibbwhich i ibbare i ibbavailable i ibbfor i ibbsale i ibbor i ibblease i ibband i


ibbis i ibba i ibbcritical i ibbresource i ibbfor i ibbthe i ibbsuccess i ibbof i ibbyour i ibbbusiness i
i

, Appraisals i ibbmust i ibbalways i ibbbe i ibbperformed i ibbaccording i ibbto i ibbUSPAP i ibb- i ibbThe i
ibbfollowing i ibbstatement i ibbregarding i ibbproperty i ibbvaluation i ibbis i ibbcorrect i
i

50 i ibbunit i ibbmotel i ibb- i ibbThis i ibbis i ibbnot i ibbconsidered i ibba i ibbresidential i ibbproperty i
ibbaccording i ibbto i ibbthe i ibbFlorida i ibbstatutes i
i

Florida i ibbrealtors i ibb* i ibb- i ibbThis i ibbis i ibbnot i ibba i ibbreal i ibbestate i ibbtrade i ibborganization i
i

Property i ibbmanagement i ibb- i ibbWhat i ibbarea i ibbof i ibbreal i ibbestate i ibbdeals i ibbwith i ibbabsentee
i ibbowners i ibbwho i ibbby i ibbincome i ibbproducing i ibbproperties i ibbas i ibban i ibbinvestment i
i

475 i ibb- i ibbThis i ibbchapter i ibbof i ibbthe i ibbFlorida i ibbstatutes i ibbis i ibbthe i ibblaw i ibbthat i
ibbspecifically i ibbregulates i ibbreal i ibbestate i ibblicensees i ibbschools i ibband i ibbappraisers i
i

Reprimand i ibbfine i ibbprobation i ibbsuspension i ibbrevocation i ibbor i ibbdenial i ibb- i ibbThe i
ibbpurpose i ibbof i ibbrule i ibb61J i ibbto i ibbprovide i ibbthe i ibborders i ibbof i ibbpenalties i ibbranging i


ibbfrom i ibblowest i ibbto i ibbhighest i
i

45 i ibb- i ibbAll i ibbsales i ibbassociates i ibbwith i ibbher i ibbactive i ibbor i ibbinactive i ibbmy i ibbsatisfactory i
ibbcomplete i ibba i ibbFrecon i ibbapproved i ibbpost i ibblicense i ibbcourse i ibbthat i ibbcontains i ibbhow i


ibbmany i ibbhours i ibbof i ibbeducation i ibbprior i ibbto i ibbtheir i ibblicense i ibbexpiration i ibbdate i
i

Fraudulent i ibbfaults i ibbdeceptive i ibbmisleading i ibb- i ibbAdvertisements i ibbmay i ibbnot i ibbbe i
ibbthe i ibbfollowing i
i

The i ibbend i ibbof i ibbbusiness i ibbday i ibb- i ibbSales i ibbassociate i ibbwho i ibbreceive i ibbthe i ibbdeposit
i ibbmust i ibbdeliver i ibbto i ibbthe i ibbbroker i ibbor i ibbemployer i ibbno i ibblater i ibbthen i ibbhow i ibbmany i


ibbdays i ibbfollowing i ibbthis i ibbthe i ibbreceipt i ibbof i ibbthe i ibbitem i ibbto i ibbbe i ibbdeposited i
i

Complete i ibb14 i ibbhours i ibbof i ibbcontinuing i ibbeducation i ibbcourse i ibband i ibbpay i ibba i ibbfee i ibb- i
ibbUpon i ibbfailing i ibbto i ibbcomplete i ibbthe i ibb14 i ibbour i ibbrenewal i ibbrequirements i ibbprior i ibbto i


ibblicense i ibbexpiration i ibba i ibblicensee i ibbmay i ibbchange i ibbthe i ibbinvoluntary i ibbin i ibbactive i


ibbstatus i ibbof i ibbtheir i ibblicense i ibbto i ibbvoluntary i ibbin i ibbactive i ibbor i ibbactive i ibbduring i ibbthe i


ibbfirst i ibb12 i ibbmonths i ibbwhat i ibbmust i ibba i ibblicensee i ibbdo i ibbto i ibbaccomplish i ibbthis i
i

A i ibbcitation i ibbor i ibbnotice i ibbof i ibbnoncompliance i ibb- i ibbMinor i ibbviolations i ibbof i ibbFlorida i
ibbstatute i ibbfor i ibb75 i ibbor i ibb61J2 i ibbwould i ibbtypically i ibbresult i ibbin i ibbwhich i ibbdisciplinary i


ibbaction i
i

10 i ibbdays i ibb- i ibbWhen i ibba i ibblicensee i ibbchanges i ibbtheir i ibbemployer i ibbthey i ibbmust i ibbnotify
i ibbthe i ibbDepartment i ibbof i ibbbusiness i ibband i ibbprofessional i ibbregulation i ibbis i ibbwithin i ibbhow


i ibbmany i
i

By i ibbthe i ibbend i ibbof i ibbbusiness i ibbday i ibbon i ibbWednesday i ibb- i ibbSales i ibbassociate i
ibbreceived i ibbthe i ibbdeposit i ibbcheck i ibbfrom i ibba i ibbbuyer i ibbon i ibbTuesday i ibbwhat i ibbmust i


ibbthe i ibbsales i ibbassociate i ibbdeliver i ibbthe i ibbdeposit i ibbto i ibbthe i ibbbroker i
i

Contribution i ibb- i ibbWhich i ibbof i ibbthe i ibbfollowing i ibbis i ibbthe i ibbterm i ibbused i ibbto i ibbdescribe i
ibbthe i ibbchange i ibbin i ibbvalue i ibbthat i ibban i ibbimprovement i ibbmakes i ibbto i ibba i ibbproperty i