GOLD COAST 45 HOUR EXAM VERSION H
2026 COMPLETE QUESTIONS WITH ANSWER
KEY AT THE END
⩥buyer brokerage agreement - An agreement between a buyer and a
broker for the broker to provide services to a buyer for compensation.
The broker may be acting as a single agent, transaction broker, or a
nonrepesentative.
⩥Community association - can be Condominiums, Cooperatives,
Vacation and time-sharing, mobil home park lots, which owners belong
and are responsible for; i.e. assessments, documents, dues, ect.
⩥concurrency - A state law requiring that infrastructure such as roads,
sewers, schools, etc., be in place as development occurs
⩥consent to Transition to Transaction Broker Notice - A disclousre form
that allows a single agent to become a transaction broker. The notice
must be signed by the principal before the broker can make the change
⩥Customer - A person who works with a sales associate or a broker.
While the person could be a principal, the usual definition is that the
broker is either a transaction broker or has no brokerage relationsip with
the person.
,⩥Designated sales associate - A sales associate who is appointed by a
broker to be a single agent for a buyer or seller in a nonresidential
transaction when another sales associate in the firm has been appointed
to be the single agent for the other party in the transaction. Both buyer
and seller must have assets of at least $1 million and agree to the
arrangement.
⩥Disclosure - The revelation of information important to a transaction
⩥Dual agency - An illegal arrangement whereby the broker tries to
represent both the buyer and the seller in the same transaction
⩥False or misleading statements - In real estate, a statement made by a
licensee or party in a real estate transaction that is not factual.
⩥Fiduciary relationship - A relationship of trust and confidence between
an agent and principal
⩥Infrastructure - In developements: roads, water, sewer, electricity are
in place prior to homes being built.
⩥Innocent purchaser status - An amendemnt to the Comprehensive
Enviromental Response, Compensation, and Liability Act (CERCLA)
that exempts from liability landowners who made resonable inquiries
about hazardous substances before purchasing the property.
,⩥Material fact - An important fact that may affect a buyer's decision to
buy or a seller's decision to sell. Licensees must disclose facts that
materially affect the value of residential property.
⩥Misrepresentation - A false or misleading statement made intentionally
or unintentionally, or the failure to disclose a material fact.
⩥No Brokerage Relationship Notice - A disclosure that must be given by
a licensee who does not represent a buyer or seller before entering into
an agreement or showing a property
⩥Principal - The person who enters into a fiduciary relationship with a
single-agent licensee.
⩥Property condition discloure - A form designed for disclosure to a
buyer of any property defects. The form is normally signed by the seller,
and the buyer signs a receipt that the buyer has received the disclosure.
⩥Radon gas - A colorless, odorless gas occurring from the natural
breakdown of uranium in the soil. Many experts believe radon gas to be
the second leading cause of lung cancer.
⩥Single Agent - A broker who represents either the seller or the buyer in
a real estate transaction, but not both.
, ⩥Single Agent Notice - A disclosure form informing the principal of the
duties of his single agent.
⩥Transaction broker - A licensee who has limited representation to the
buyer and/or the seller in a transaction. Instead of being an advocate for
the buyer or the seller, the licensee is working for the contract.
⩥Real estate license expires on the first of two dates after 18 months
have elapsed following issue: - March 31 or September 30
⩥Sales assoicate must successfully complete what course before the first
renewal date - 45- hour sales associate post-licensing course
⩥If the licensee does not succerssfully complete the post-license
requirements - the license becomes void
and if wants to practice real estate must take prelicensing course and
state exam.
⩥After 1st renewal license will expire when - same date every 2 years
⩥failure to renew license after 1st renewal results - the license becomes
involuntary active and can not perform real estate services
2026 COMPLETE QUESTIONS WITH ANSWER
KEY AT THE END
⩥buyer brokerage agreement - An agreement between a buyer and a
broker for the broker to provide services to a buyer for compensation.
The broker may be acting as a single agent, transaction broker, or a
nonrepesentative.
⩥Community association - can be Condominiums, Cooperatives,
Vacation and time-sharing, mobil home park lots, which owners belong
and are responsible for; i.e. assessments, documents, dues, ect.
⩥concurrency - A state law requiring that infrastructure such as roads,
sewers, schools, etc., be in place as development occurs
⩥consent to Transition to Transaction Broker Notice - A disclousre form
that allows a single agent to become a transaction broker. The notice
must be signed by the principal before the broker can make the change
⩥Customer - A person who works with a sales associate or a broker.
While the person could be a principal, the usual definition is that the
broker is either a transaction broker or has no brokerage relationsip with
the person.
,⩥Designated sales associate - A sales associate who is appointed by a
broker to be a single agent for a buyer or seller in a nonresidential
transaction when another sales associate in the firm has been appointed
to be the single agent for the other party in the transaction. Both buyer
and seller must have assets of at least $1 million and agree to the
arrangement.
⩥Disclosure - The revelation of information important to a transaction
⩥Dual agency - An illegal arrangement whereby the broker tries to
represent both the buyer and the seller in the same transaction
⩥False or misleading statements - In real estate, a statement made by a
licensee or party in a real estate transaction that is not factual.
⩥Fiduciary relationship - A relationship of trust and confidence between
an agent and principal
⩥Infrastructure - In developements: roads, water, sewer, electricity are
in place prior to homes being built.
⩥Innocent purchaser status - An amendemnt to the Comprehensive
Enviromental Response, Compensation, and Liability Act (CERCLA)
that exempts from liability landowners who made resonable inquiries
about hazardous substances before purchasing the property.
,⩥Material fact - An important fact that may affect a buyer's decision to
buy or a seller's decision to sell. Licensees must disclose facts that
materially affect the value of residential property.
⩥Misrepresentation - A false or misleading statement made intentionally
or unintentionally, or the failure to disclose a material fact.
⩥No Brokerage Relationship Notice - A disclosure that must be given by
a licensee who does not represent a buyer or seller before entering into
an agreement or showing a property
⩥Principal - The person who enters into a fiduciary relationship with a
single-agent licensee.
⩥Property condition discloure - A form designed for disclosure to a
buyer of any property defects. The form is normally signed by the seller,
and the buyer signs a receipt that the buyer has received the disclosure.
⩥Radon gas - A colorless, odorless gas occurring from the natural
breakdown of uranium in the soil. Many experts believe radon gas to be
the second leading cause of lung cancer.
⩥Single Agent - A broker who represents either the seller or the buyer in
a real estate transaction, but not both.
, ⩥Single Agent Notice - A disclosure form informing the principal of the
duties of his single agent.
⩥Transaction broker - A licensee who has limited representation to the
buyer and/or the seller in a transaction. Instead of being an advocate for
the buyer or the seller, the licensee is working for the contract.
⩥Real estate license expires on the first of two dates after 18 months
have elapsed following issue: - March 31 or September 30
⩥Sales assoicate must successfully complete what course before the first
renewal date - 45- hour sales associate post-licensing course
⩥If the licensee does not succerssfully complete the post-license
requirements - the license becomes void
and if wants to practice real estate must take prelicensing course and
state exam.
⩥After 1st renewal license will expire when - same date every 2 years
⩥failure to renew license after 1st renewal results - the license becomes
involuntary active and can not perform real estate services
