Gold Coast Real Estate Final Exam Study Guide (contains highlights from Ch's 1, 2,3,4 and some of 11) 2024

Gold Coast Real Estate Final Exam Study Guide (contains highlights from Ch's 1, 2,3,4 and some of 11) 2024 Real Estate Brokerage (Ch. 1) - CORRECT ANSWER-A business in which real estaterelated activities are performed under the authority of a licensed real estate broker Farming (Ch. 1) - CORRECT ANSWER-concentrating on one type or style of property in one particular area of neighborhood Property Transfer, Valuation & Marketing (Ch. 1) - CORRECT ANSWER-areas of expert knowledge that are required for all real estate licensees Residential Transaction (Ch. 1) - 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 (Ch. 1) - 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 Local Level of Government (Ch. 1) - CORRECT ANSWER-control planning and zoning, property taxation, building and health code regulations also impose a moratorium or temporary delay for a building project building permits would be held until the situations are corrected Florida Real Estate License Law F.S 475 (Ch. 2) - CORRECT ANSWER-the purpose is to protect the public Commission (Ch. 2) - CORRECT ANSWER-Florida Real Estate Commission (FREC) Department (Ch. 2) - CORRECT ANSWER-Department of Business and Professional Regulation (DBPR) Licensee (Ch. 2) - CORRECT ANSWER-any person that has a permit, registration, certificate, or license that's issued by the Department Sales Associate (Ch. 2) - CORRECT ANSWER-a person who performs real estate activities while employed by a licensed real estate broker Broker (Ch. 2) - CORRECT ANSWER-a person who performs services of real estate for another and receives compensation for those services either directly or indirectly A sales associate who wishes to a broker must: (Ch. 2) - CORRECT ANSWER-have been employed under one or more actively licensed brokers for at least 24 months within the previous 5 years Broker Associate (Ch. 2) - CORRECT ANSWER-an applicant to become a "broker associate" may chose to continue employment in a sales associate position with current employer after passing the exam but will be registered under a "broker associate" after passing the exam an individual who meets the requirements of a broker but who chooses to work in real estate under the direction (employ) of another broker. An applicant for a Florida real estate license is not required to be a: (Ch. 2) - CORRECT ANSWER-resident of Florida or be a citizen of the U.S The question that requires the disclosure of any criminal convictions, including felony or misdemeanor convictions or pleas (other than traffic offenses), regardless of adjudication (going to court) DUI must be disclosed (Ch. 2) - CORRECT ANSWER-"Have you ever been convicted of a felony or found guilty of, or entered a plea of "nolo contendere" (no contest) or guilty to, regardless of adjudication ,a crime in any jurisdiction, or are you currently being investigated?" Application Denial (Ch. 2) - CORRECT ANSWER-If an application to take the state exam is denied by the Department, the applicant will be notified in writing. The notification will identify the reasons for denial and advise the applicant that he or she has 21 days from the date of receipt to request a formal