45 Hour Post License Florida 140
Questions and Correct Answers
Farming - AnswerConcentrating on one type of style of property or on one particular
neighborhood
A residential transaction os defined in F.S. 475 as the sale of any: - Answer- Duplex
- improved residential property of four units or fewer, including condominium units
-unimproved property intended for four units or fewer
- agricultural properties of ten acres or less
- leases with options to purchase all or a portion of improved property of four or fewer
residential units
- dispositions of business interests for property of four or fewer residential units
absentee owners - Answerowners who buy income property as investments and
depend on professionals to manage them
All appraisals, whether performed by a licensed appraiser or a real estate licensee,
must be developed and reported in conformity with the - AnswerUniform Standards of
Professional Appraisal Practice (USPAP)
The largest and most prestigious real estate organization in the world is ________.
They work for legislation enforce professional standards of conduct through its
________. - Answer1. The National Association of Realtors (NAR)
2. Code of Ethics
The largest trade association in the state is _________ - AnswerThe Florida
Association of Realtors (FAR)
The duties required by the Code of Ethics are: - Answer1. Duties to clients and
customers
2. Duties to the public in general
3. Duties to other real estate licensees
Required Skills for the Real estate professional are: - Answer1. Valuation - Must be
able to discern important differences between properties and know ho to translate those
differences into value. Must be able to conduct a CMA.
2. Marketing - must have an understanding of the tools and technologies available to
market a property.
3. Property Transfer - understand how to close a transaction
Mission Statement - Answerdescription of a desired outcome that excites, motivates,
and helps you to create a mental picture of your business goal.
, Industrial Sales or Leasing - Answerinclude warehouses and manufacturing facilities.
Industrial sales and leasing generally involve user/owners, rather than investors.
The law that specifically regulates real estate licensees, schools, and appraisers is
_________ - AnswerF.S. 475
The Range Of Penalties for disobeying FS 475 or 455 from lowest to highest is: -
AnswerReprimand, fine, probation, suspension, and revocation or denial.
Which is the maximum penalty for disobeying laws under FS 455 or FS 475 -
AnswerRevocation or denial of license
If the licensee does not complete the 45 hour course before the expiration date of their
first renewal, the license becomes ____ - Answervoid and the licensee will be out of
business. (have to start over everything)
When a sales associate changes employers, they must notify the Commission of the
change no later than ________ days after the change by using the form provided by the
commission. - Answer10
Advertisements may not be - Answerfraudulent, false, deceptive, or misleading.
Advertising false, inaccurate, misleading or exaggerated information could result in
____________ - Answerthe issuance of a citation and a fine of $500
A sales associate who receives a deposit must deliver it to the broker or employer no
later than - Answerthe end of the business day following the receipt of the item to be
deposited
A sales associate may not collect money in connection with a real estate transaction
except - Answerin the name of the employer (cannot be payed by buyer or seller)
A sales associate receives compensation only from his or her ______. A sales
associate can however be paid a portion of a commission by a closing agent if such
instructions have been provided in writing by the _____. - Answer1. broker
2. broker
Single agents are held accountable for what four specific duties? - Answer1.
Confidentiality
2. Obedience
3. Loyalty
4. Full Disclosure
Questions and Correct Answers
Farming - AnswerConcentrating on one type of style of property or on one particular
neighborhood
A residential transaction os defined in F.S. 475 as the sale of any: - Answer- Duplex
- improved residential property of four units or fewer, including condominium units
-unimproved property intended for four units or fewer
- agricultural properties of ten acres or less
- leases with options to purchase all or a portion of improved property of four or fewer
residential units
- dispositions of business interests for property of four or fewer residential units
absentee owners - Answerowners who buy income property as investments and
depend on professionals to manage them
All appraisals, whether performed by a licensed appraiser or a real estate licensee,
must be developed and reported in conformity with the - AnswerUniform Standards of
Professional Appraisal Practice (USPAP)
The largest and most prestigious real estate organization in the world is ________.
They work for legislation enforce professional standards of conduct through its
________. - Answer1. The National Association of Realtors (NAR)
2. Code of Ethics
The largest trade association in the state is _________ - AnswerThe Florida
Association of Realtors (FAR)
The duties required by the Code of Ethics are: - Answer1. Duties to clients and
customers
2. Duties to the public in general
3. Duties to other real estate licensees
Required Skills for the Real estate professional are: - Answer1. Valuation - Must be
able to discern important differences between properties and know ho to translate those
differences into value. Must be able to conduct a CMA.
2. Marketing - must have an understanding of the tools and technologies available to
market a property.
3. Property Transfer - understand how to close a transaction
Mission Statement - Answerdescription of a desired outcome that excites, motivates,
and helps you to create a mental picture of your business goal.
, Industrial Sales or Leasing - Answerinclude warehouses and manufacturing facilities.
Industrial sales and leasing generally involve user/owners, rather than investors.
The law that specifically regulates real estate licensees, schools, and appraisers is
_________ - AnswerF.S. 475
The Range Of Penalties for disobeying FS 475 or 455 from lowest to highest is: -
AnswerReprimand, fine, probation, suspension, and revocation or denial.
Which is the maximum penalty for disobeying laws under FS 455 or FS 475 -
AnswerRevocation or denial of license
If the licensee does not complete the 45 hour course before the expiration date of their
first renewal, the license becomes ____ - Answervoid and the licensee will be out of
business. (have to start over everything)
When a sales associate changes employers, they must notify the Commission of the
change no later than ________ days after the change by using the form provided by the
commission. - Answer10
Advertisements may not be - Answerfraudulent, false, deceptive, or misleading.
Advertising false, inaccurate, misleading or exaggerated information could result in
____________ - Answerthe issuance of a citation and a fine of $500
A sales associate who receives a deposit must deliver it to the broker or employer no
later than - Answerthe end of the business day following the receipt of the item to be
deposited
A sales associate may not collect money in connection with a real estate transaction
except - Answerin the name of the employer (cannot be payed by buyer or seller)
A sales associate receives compensation only from his or her ______. A sales
associate can however be paid a portion of a commission by a closing agent if such
instructions have been provided in writing by the _____. - Answer1. broker
2. broker
Single agents are held accountable for what four specific duties? - Answer1.
Confidentiality
2. Obedience
3. Loyalty
4. Full Disclosure
