GOLD COAST REAL ESTATE EXAM QUESTIONS
WITH COMPLETE SOLUTIONS
Farming - CORRECT ANSWER✔✔-when a licensee focuses on one type
| | | | | | | | | |
or style of property or one particular neighborhood
| | | | | | |
farm area - CORRECT ANSWER✔✔-target market; one of the best ways
| | | | | | | | | | |
to succeed in real estate
| | | |
Areas of expert knowledge required for all real estate licensees -
| | | | | | | | | | |
CORRECT ANSWER✔✔-1. Property Transfer
| | |
2. Valuation and Market Conditions
| | | |
3. Marketing (consider MLS; Multiple Listing Service)
| | | | | |
Residential Transaction - CORRECT ANSWER✔✔-F.S 475
| | | | | |
The sale of any improved residential property of 4 units or fewer.
| | | | | | | | | | |
Unimproved property intended for 4 units or fewer.
| | | | | | |
Agricultural properties 10 acres or less
| | | | |
,Tract Building - CORRECT ANSWER✔✔-when a developer acquires a
| | | | | | | | |
large tract of land, records a subdivision plat map, and uses a model
| | | | | | | | | | | | |
center from which sales may be made.
| | | | | |
Moratorium - CORRECT ANSWER✔✔-a temporary suspension of | | | | | | |
activity; an authorized delay for a building project
| | | | | | |
What does the term "Commission" refer to? - CORRECT ANSWER✔✔-
| | | | | | | | |
Florida Real Estate Commission (FREC)
| | | |
Deals with all things real estate in Florida
| | | | | | |
What does the term "Department" refer to? - CORRECT ANSWER✔✔-
| | | | | | | | |
Department of Business and Professional Regulation (DBPR) | | | | | |
Issues every and any license
| | | |
Broker - CORRECT ANSWER✔✔-A person who performs services of real
| | | | | | | | | |
estate as a n agent for another and receives compensation for those
| | | | | | | | | | | |
services either directly or indirectly.
| | | |
Can a sales associate be compensated directly from the customer? -
| | | | | | | | | | |
CORRECT ANSWER✔✔-No, they can only receive their compensation
| | | | | | | |
directly from their employing broker
| | | |
,What are the requirements for a sales associate to become a broker? -
| | | | | | | | | | | | |
CORRECT ANSWER✔✔-The sales associate must have been employed
| | | | | | | |
under one or more actively licensed brokers for at least 24 months
| | | | | | | | | | | |
within the preceding 5 years before becoming eligible to take broker
| | | | | | | | | | |
examination (licensure under an owner-developer does not satisfy this
| | | | | | | | |
requirement)
Broker Associate - CORRECT ANSWER✔✔-An individual who is qualified
| | | | | | | | |
to be issued a broker's license but who operates as a sales associate in
| | | | | | | | | | | | | |
the employ of another broker. Glorified sales associate.
| | | | | | |
Does an applicant for the Florida Real Estate license have to be a
| | | | | | | | | | | | |
resident of the state or country? - CORRECT ANSWER✔✔-No [F.S. 455.
| | | | | | | | | | |
10]
What is the first question in the application for the Sales Associate
| | | | | | | | | | | |
license? - CORRECT ANSWER✔✔-"Have you ever been convicted or
| | | | | | | | |
found guilty of, or entered a plea of solo contenders (no contest) or
| | | | | | | | | | | | |
guilty, regardless of adjudication, a crime in any jurisdiction, or are you
| | | | | | | | | | | |
currently under criminal investigation?" | | |
Is a DUI a major traffic offense? - CORRECT ANSWER✔✔-Yes, and it must
| | | | | | | | | | | |
|be disclosed upon application
| | |
, What are the four parts of application denial? - CORRECT ANSWER✔✔-
| | | | | | | | | |
1. Application is denied by the DEPARTMENT (DBPR)
| | | | | | |
2. You are notified in writing
| | | | |
3. You have 21 days from day of receipt
| | | | | | | |
4. to request a formal hearing from an administrative law judge
| | | | | | | | | |
How many hours of a FREC I course must one complete in order to take
| | | | | | | | | | | | | | |
state exam? - CORRECT ANSWER✔✔-63 hours including the final
| | | | | | | | |
examination
How many hours of a FREC II course must a sales associate complete in
| | | | | | | | | | | | | |
order to be eligible to become a broker? - CORRECT ANSWER✔✔-72
| | | | | | | | | | |
hours including end-of-course examination
| | |
Can a sales associate work for more than one broker or developer at a
| | | | | | | | | | | | | |
time? - CORRECT ANSWER✔✔-No
| | |
Does an owner-developer receive a real estate license upon registering
| | | | | | | | | |
with the department? - CORRECT ANSWER✔✔-No
| | | | |
Sales associate first renewal - CORRECT ANSWER✔✔-Sales associate
| | | | | | | |
must complete a 45 hour post license course prior to the expiration of
| | | | | | | | | | | | |
their initial license period.
| | |
WITH COMPLETE SOLUTIONS
Farming - CORRECT ANSWER✔✔-when a licensee focuses on one type
| | | | | | | | | |
or style of property or one particular neighborhood
| | | | | | |
farm area - CORRECT ANSWER✔✔-target market; one of the best ways
| | | | | | | | | | |
to succeed in real estate
| | | |
Areas of expert knowledge required for all real estate licensees -
| | | | | | | | | | |
CORRECT ANSWER✔✔-1. Property Transfer
| | |
2. Valuation and Market Conditions
| | | |
3. Marketing (consider MLS; Multiple Listing Service)
| | | | | |
Residential Transaction - CORRECT ANSWER✔✔-F.S 475
| | | | | |
The sale of any improved residential property of 4 units or fewer.
| | | | | | | | | | |
Unimproved property intended for 4 units or fewer.
| | | | | | |
Agricultural properties 10 acres or less
| | | | |
,Tract Building - CORRECT ANSWER✔✔-when a developer acquires a
| | | | | | | | |
large tract of land, records a subdivision plat map, and uses a model
| | | | | | | | | | | | |
center from which sales may be made.
| | | | | |
Moratorium - CORRECT ANSWER✔✔-a temporary suspension of | | | | | | |
activity; an authorized delay for a building project
| | | | | | |
What does the term "Commission" refer to? - CORRECT ANSWER✔✔-
| | | | | | | | |
Florida Real Estate Commission (FREC)
| | | |
Deals with all things real estate in Florida
| | | | | | |
What does the term "Department" refer to? - CORRECT ANSWER✔✔-
| | | | | | | | |
Department of Business and Professional Regulation (DBPR) | | | | | |
Issues every and any license
| | | |
Broker - CORRECT ANSWER✔✔-A person who performs services of real
| | | | | | | | | |
estate as a n agent for another and receives compensation for those
| | | | | | | | | | | |
services either directly or indirectly.
| | | |
Can a sales associate be compensated directly from the customer? -
| | | | | | | | | | |
CORRECT ANSWER✔✔-No, they can only receive their compensation
| | | | | | | |
directly from their employing broker
| | | |
,What are the requirements for a sales associate to become a broker? -
| | | | | | | | | | | | |
CORRECT ANSWER✔✔-The sales associate must have been employed
| | | | | | | |
under one or more actively licensed brokers for at least 24 months
| | | | | | | | | | | |
within the preceding 5 years before becoming eligible to take broker
| | | | | | | | | | |
examination (licensure under an owner-developer does not satisfy this
| | | | | | | | |
requirement)
Broker Associate - CORRECT ANSWER✔✔-An individual who is qualified
| | | | | | | | |
to be issued a broker's license but who operates as a sales associate in
| | | | | | | | | | | | | |
the employ of another broker. Glorified sales associate.
| | | | | | |
Does an applicant for the Florida Real Estate license have to be a
| | | | | | | | | | | | |
resident of the state or country? - CORRECT ANSWER✔✔-No [F.S. 455.
| | | | | | | | | | |
10]
What is the first question in the application for the Sales Associate
| | | | | | | | | | | |
license? - CORRECT ANSWER✔✔-"Have you ever been convicted or
| | | | | | | | |
found guilty of, or entered a plea of solo contenders (no contest) or
| | | | | | | | | | | | |
guilty, regardless of adjudication, a crime in any jurisdiction, or are you
| | | | | | | | | | | |
currently under criminal investigation?" | | |
Is a DUI a major traffic offense? - CORRECT ANSWER✔✔-Yes, and it must
| | | | | | | | | | | |
|be disclosed upon application
| | |
, What are the four parts of application denial? - CORRECT ANSWER✔✔-
| | | | | | | | | |
1. Application is denied by the DEPARTMENT (DBPR)
| | | | | | |
2. You are notified in writing
| | | | |
3. You have 21 days from day of receipt
| | | | | | | |
4. to request a formal hearing from an administrative law judge
| | | | | | | | | |
How many hours of a FREC I course must one complete in order to take
| | | | | | | | | | | | | | |
state exam? - CORRECT ANSWER✔✔-63 hours including the final
| | | | | | | | |
examination
How many hours of a FREC II course must a sales associate complete in
| | | | | | | | | | | | | |
order to be eligible to become a broker? - CORRECT ANSWER✔✔-72
| | | | | | | | | | |
hours including end-of-course examination
| | |
Can a sales associate work for more than one broker or developer at a
| | | | | | | | | | | | | |
time? - CORRECT ANSWER✔✔-No
| | |
Does an owner-developer receive a real estate license upon registering
| | | | | | | | | |
with the department? - CORRECT ANSWER✔✔-No
| | | | |
Sales associate first renewal - CORRECT ANSWER✔✔-Sales associate
| | | | | | | |
must complete a 45 hour post license course prior to the expiration of
| | | | | | | | | | | | |
their initial license period.
| | |
