Gold Coast FINAL EXAM STUDY SET for
4/11 / Gold Coast Final Exam Study Set
(4/11)
what are the the areas a realtor should be an expert in? - ---
✔✔✔ANSWER----Marketing
Valuation & Market Conditions
Property Transfer
,"MVP"
Does one need to be a resident of the state or a citizen of the U.S. to get a FL real
estate license? - ---✔✔✔ANSWER----to get a FL real estate license, you
don't need to be a citizen
What must an applicant for a real estate license do if he has been convicted of a
crime? - ---✔✔✔ANSWER----must disclose all convictions
Employment - ---✔✔✔ANSWER----an associate can only have one
employer at a time
What's the grace period for a Sales associate's first renewal? Post Licensing - ---
✔✔✔ANSWER----no grace period, void and null
Individuals who are exempt from licensure - ---✔✔✔ANSWER----Salaried
Employees
How long can one stay involuntary inactive? - ---✔✔✔ANSWER----2 years
What happens to an associates license if a broker's license is void, suspended, or
revoked? - ---✔✔✔ANSWER----their license automatically becomes
inactive
, Multiple Licenses - ---✔✔✔ANSWER----issued only to active brokers if it is
clearly shown that such additional licenses are necessary to the conduct of
legitimate business
What is a Transaction broker - ---✔✔✔ANSWER----a broker who provides
limited representation to a buyer, seller, or both, in a real estate transaction
*not an AGENT*
Presenting Offers - ---✔✔✔ANSWER----must present all offers
A broker is entitled to compensation if they... - ---✔✔✔ANSWER----bring a
buyer who brings an offer the seller was looking for
Listing Contract - ---✔✔✔ANSWER----broker's employment contract that
states the terms and conditions that the broker must meet to become eligible for
compensation
Referral Fees:
I as the sellers agent promise kickback commission. Is this allowed? - ---
✔✔✔ANSWER----yes, as long as this is disclosed to all interested parties
4/11 / Gold Coast Final Exam Study Set
(4/11)
what are the the areas a realtor should be an expert in? - ---
✔✔✔ANSWER----Marketing
Valuation & Market Conditions
Property Transfer
,"MVP"
Does one need to be a resident of the state or a citizen of the U.S. to get a FL real
estate license? - ---✔✔✔ANSWER----to get a FL real estate license, you
don't need to be a citizen
What must an applicant for a real estate license do if he has been convicted of a
crime? - ---✔✔✔ANSWER----must disclose all convictions
Employment - ---✔✔✔ANSWER----an associate can only have one
employer at a time
What's the grace period for a Sales associate's first renewal? Post Licensing - ---
✔✔✔ANSWER----no grace period, void and null
Individuals who are exempt from licensure - ---✔✔✔ANSWER----Salaried
Employees
How long can one stay involuntary inactive? - ---✔✔✔ANSWER----2 years
What happens to an associates license if a broker's license is void, suspended, or
revoked? - ---✔✔✔ANSWER----their license automatically becomes
inactive
, Multiple Licenses - ---✔✔✔ANSWER----issued only to active brokers if it is
clearly shown that such additional licenses are necessary to the conduct of
legitimate business
What is a Transaction broker - ---✔✔✔ANSWER----a broker who provides
limited representation to a buyer, seller, or both, in a real estate transaction
*not an AGENT*
Presenting Offers - ---✔✔✔ANSWER----must present all offers
A broker is entitled to compensation if they... - ---✔✔✔ANSWER----bring a
buyer who brings an offer the seller was looking for
Listing Contract - ---✔✔✔ANSWER----broker's employment contract that
states the terms and conditions that the broker must meet to become eligible for
compensation
Referral Fees:
I as the sellers agent promise kickback commission. Is this allowed? - ---
✔✔✔ANSWER----yes, as long as this is disclosed to all interested parties
