REAL ESTATE SALES ASSOCIATE
Absentee ownership has increased the demand for which area of brokerage? - Answers
-Commercial sales
What is a real estate appraiser paid? - Answers -A fee based upon how time and
difficulty of the appraisal
What does the local planning agency have the authority to approve? - Answers -A
subdivision plat map
what is it called when a developer gives land to a governmental body? - Answers -
Dedication
What business is a licensee engaged in who markets, leases and maintains property for
someone els? - Answers -Property management
In which service of real estate must a licensee disclose the agency relationship and the
responsibilities of that relationship to the public? - Answers -Residential sales
Which power authorizes the FREC to pass or revise rules? - Answers -Quasi-legislative
What would not be grounds for suspension or revocation of a real estate license? -
Answers -Not being a Florida resident
Sandy works as a sales associate for a broker and has been asked to work weekends
for a developer to sell new homes on commission. What must sandy do to work for the
developer? - Answers -Transfer her license from the broker to the owner-developer
What does the license law require that a licensee complete before the first renewal of
the Florida real estate license? - Answers -A post licensing course
If someone who is non licensed and registered wants to become a broker, what must he
or she do? - Answers -Qualify for a broker license in the same way as anyone els
Who would be exempt from a real estate licensing law? - Answers -A person who rents
mobile home lots
A broker owes which duty to a customer ? - Answers -Disclose known facts affecting the
value of residential property
What must all advertising for listed property contain ? - Answers -Name of the
brokerage firm
,Sales associate Glenn works for broker John. If Glenn receives an escrow deposit on
Tuesday, what should he do ? - Answers -Deliver it to his broker immediately (next
business day)
A broker may hold escrow deposits in any of the following exempt? - Answers -Mutual
fund
Who do listings obtained by sales associate belong to? - Answers -The employing
broker
A broker sells a rental list to a prospective tenant for $200. In a written agreement, the
broker states that the fee is nonrefundable. This is ? - Answers -Illegal under F.S 475
A sales associate wants to use a trade or fictitious name. Which statement applies ? -
Answers -This would violate F.S 475
Jim is a sales associate applicant but has failed the states exam twice. After reviewing
his most recent exam, he feels the some of the questions he missed were really correct
and marked wrong in error. What may Jim do? - Answers -Request an informal hearing
before FREC
Craig is a real estate sales associate working for ABC Realty, Inc. Craig decides to
have refrigerator magnets made to give out to the public. What must he include on the
magnets ? - Answers -They must contain the name ABC Realty, Inc
If mortgage broker informs a borrower that they need to refinance their loan after 10
months, with a higher interest rate and also some closing cost, which law would be
violated? - Answers -Florida Fair Lending Act
Which business entity may not register as real estate brokerage firm? - Answers -
Corporation sole
When there is a dispute over escrow funds, the procedure includes four choices. Which
choice involves a third person recommending a solution? - Answers -Mediation
Which step follows the investigation in the complaint process ? - Answers -Probable
cause determination
If a licensee does not dispute a citation, it has the same effect as a ? - Answers -Final
order
What is the maximum criminal penalty that a court could impose for a second-degree
misdemeanor ? - Answers -$500 fine and/or 60 days of jail time
Who has the right to file a complaint against a licensee with the DBPR ? - Answers -
Anyone
, Which punishment would FREC likely impose for a first offense against a broker found
guilty of a minor violation ? - Answers -Notice of noncompliance
FREC may suspend a real estate licensee for a maximum of how many years ? -
Answers -10 years
For multiple claims against a licensee, what is the maximum reimbursement from the
Florida Real Estate Recovery Fund ? - Answers -$150,000
The Florida Real Estate Recovery Fund ? - Answers -Is funded from licensing fees
Where must appeals of FREC final orders must be filled? - Answers -District Court of
Appeals
What is the maximum fine the Commission could impose against a licensee who was
found guilty of two violations of Chapter 475, F.S ? - Answers -$10,000
What charge may be filed against a broker who fails to pay his or her sales associates?
- Answers -Conversion
The Fair Housing Act of 1968 prohibits discrimination based upon ? - Answers -Race,
color, religion, sex, national origin, family status or handicap
What law requires that buyers be given a good faith estimate of closing cost prior to
closing ? - Answers -RESPA
A licensee picks the properties a particular buyer is shown based on the race of the
buyer. What is the illegal act known as? - Answers -Steering
Telling home owners that minority families are moving into their neighborhoods in an
attempt to get them to sell their home and move is referred to as what? - Answers -
Blockbusting
Broker bill rents only to women because they cause less trouble than males and
maintain their apartments in much better condition. This is ? - Answers -A violin of the
Fair Housing Act of 1968
Which is correct according to the Florida Landlord and Tenant Act ? - Answers -
Landlord must inform tenant within 30 days how the deposit is being held
A developer advertises homes for sales with a total down payment of $1,500. The
developer knows that all of the houses with that amount of down payment have been
sold. Is this transaction covered under Truth-In-Lending laws? - Answers -Yes, because
this is bait and switch advertising is illegal
Absentee ownership has increased the demand for which area of brokerage? - Answers
-Commercial sales
What is a real estate appraiser paid? - Answers -A fee based upon how time and
difficulty of the appraisal
What does the local planning agency have the authority to approve? - Answers -A
subdivision plat map
what is it called when a developer gives land to a governmental body? - Answers -
Dedication
What business is a licensee engaged in who markets, leases and maintains property for
someone els? - Answers -Property management
In which service of real estate must a licensee disclose the agency relationship and the
responsibilities of that relationship to the public? - Answers -Residential sales
Which power authorizes the FREC to pass or revise rules? - Answers -Quasi-legislative
What would not be grounds for suspension or revocation of a real estate license? -
Answers -Not being a Florida resident
Sandy works as a sales associate for a broker and has been asked to work weekends
for a developer to sell new homes on commission. What must sandy do to work for the
developer? - Answers -Transfer her license from the broker to the owner-developer
What does the license law require that a licensee complete before the first renewal of
the Florida real estate license? - Answers -A post licensing course
If someone who is non licensed and registered wants to become a broker, what must he
or she do? - Answers -Qualify for a broker license in the same way as anyone els
Who would be exempt from a real estate licensing law? - Answers -A person who rents
mobile home lots
A broker owes which duty to a customer ? - Answers -Disclose known facts affecting the
value of residential property
What must all advertising for listed property contain ? - Answers -Name of the
brokerage firm
,Sales associate Glenn works for broker John. If Glenn receives an escrow deposit on
Tuesday, what should he do ? - Answers -Deliver it to his broker immediately (next
business day)
A broker may hold escrow deposits in any of the following exempt? - Answers -Mutual
fund
Who do listings obtained by sales associate belong to? - Answers -The employing
broker
A broker sells a rental list to a prospective tenant for $200. In a written agreement, the
broker states that the fee is nonrefundable. This is ? - Answers -Illegal under F.S 475
A sales associate wants to use a trade or fictitious name. Which statement applies ? -
Answers -This would violate F.S 475
Jim is a sales associate applicant but has failed the states exam twice. After reviewing
his most recent exam, he feels the some of the questions he missed were really correct
and marked wrong in error. What may Jim do? - Answers -Request an informal hearing
before FREC
Craig is a real estate sales associate working for ABC Realty, Inc. Craig decides to
have refrigerator magnets made to give out to the public. What must he include on the
magnets ? - Answers -They must contain the name ABC Realty, Inc
If mortgage broker informs a borrower that they need to refinance their loan after 10
months, with a higher interest rate and also some closing cost, which law would be
violated? - Answers -Florida Fair Lending Act
Which business entity may not register as real estate brokerage firm? - Answers -
Corporation sole
When there is a dispute over escrow funds, the procedure includes four choices. Which
choice involves a third person recommending a solution? - Answers -Mediation
Which step follows the investigation in the complaint process ? - Answers -Probable
cause determination
If a licensee does not dispute a citation, it has the same effect as a ? - Answers -Final
order
What is the maximum criminal penalty that a court could impose for a second-degree
misdemeanor ? - Answers -$500 fine and/or 60 days of jail time
Who has the right to file a complaint against a licensee with the DBPR ? - Answers -
Anyone
, Which punishment would FREC likely impose for a first offense against a broker found
guilty of a minor violation ? - Answers -Notice of noncompliance
FREC may suspend a real estate licensee for a maximum of how many years ? -
Answers -10 years
For multiple claims against a licensee, what is the maximum reimbursement from the
Florida Real Estate Recovery Fund ? - Answers -$150,000
The Florida Real Estate Recovery Fund ? - Answers -Is funded from licensing fees
Where must appeals of FREC final orders must be filled? - Answers -District Court of
Appeals
What is the maximum fine the Commission could impose against a licensee who was
found guilty of two violations of Chapter 475, F.S ? - Answers -$10,000
What charge may be filed against a broker who fails to pay his or her sales associates?
- Answers -Conversion
The Fair Housing Act of 1968 prohibits discrimination based upon ? - Answers -Race,
color, religion, sex, national origin, family status or handicap
What law requires that buyers be given a good faith estimate of closing cost prior to
closing ? - Answers -RESPA
A licensee picks the properties a particular buyer is shown based on the race of the
buyer. What is the illegal act known as? - Answers -Steering
Telling home owners that minority families are moving into their neighborhoods in an
attempt to get them to sell their home and move is referred to as what? - Answers -
Blockbusting
Broker bill rents only to women because they cause less trouble than males and
maintain their apartments in much better condition. This is ? - Answers -A violin of the
Fair Housing Act of 1968
Which is correct according to the Florida Landlord and Tenant Act ? - Answers -
Landlord must inform tenant within 30 days how the deposit is being held
A developer advertises homes for sales with a total down payment of $1,500. The
developer knows that all of the houses with that amount of down payment have been
sold. Is this transaction covered under Truth-In-Lending laws? - Answers -Yes, because
this is bait and switch advertising is illegal
