BOB HOGUE CHAPTER 5 TEST QUESTIONS AND ANSWERS
John cAnderson cis ca clicensed creal cestate csales cassociate. cUnder cwhich cname cmay
che cregister cand cbe clicensed: ca.) cComplete cReal cEstate cSales cServices cb.) cJohn
cAnderson cBrokerage cc.) cJohn cAnderson, cLLC cd.) cJohn cAnderson cand cPartners
c- cANSWER cJohn cAnderson, cLLC
A csales cassociate creceives ca cbinder cdeposit cfrom ca cprospective cbuyer cand
cThursday cmorning. cLater cthat csame cday, cthe cassociate cgives cthe cbinder cdeposit
cto chis cbroker. cBy cthe cend cof cbusiness con cwhat cday cof cthe cweek cmust cthe
cbroker cdeposit cthe cfunds cinto cher cescrow caccount? ca.) cFriday cb.) cMonday cc.)
cTuesday
d.) cWednesday c- c ANSWER cTuesday
Real cestate csales cassociates cwho creceive cchecks cpayable cto cthem cas cdeposits
con cthe cpurchase cof creal cproperty cmust- c ANSWER cendorse cthe cchecks cand
cimmediately cturn cthem cover cto ctheir cemployers
True cor cFalse: cIs cit cillegal cfor cthe cbroker cto ckeep cany cearned cinterest ceven cif
cthe cbuyer cand cthe cseller cgive cwritten cpermission c- c ANSWER cFalse
True cor cFalse: cThe cescrow caccount cmay cbe cwither cinterest cbearing cor
cnon- cinterest cbearing. c- c ANSWER cTrue
, A cbroker cmust cget cwritten cauthorization cfrom cthe cbuyer cand cthe cseller cbefore
cplacing cescrow cfunds cin can cinterest-bearing cescrow caccount. c- c ANSWER cTrue
A cbroker cmay cchoose cto chave can cattorney cor cFlorida ctitle ccompany cmaintain
cthe cescrow caccount. c- c ANSWER cTrue
If ca cdispute carises cbetween cthe cbuyer cand cthe cseller cas cto cwhich cone cis centitled
cto cescrow con cproperty, cwhat cshould cthe cbroker cdo cfirst? c- c ANSWER cNotify
cthe cFREC cin cwriting, cunless cexempted cfrom cthe cnotice crequirements.
John cAnderson cis ca clicensed creal cestate csales cassociate. cUnder cwhich cname cmay
che cregister cand cbe clicensed: ca.) cComplete cReal cEstate cSales cServices cb.) cJohn
cAnderson cBrokerage cc.) cJohn cAnderson, cLLC cd.) cJohn cAnderson cand cPartners
c- cANSWER cJohn cAnderson, cLLC
A csales cassociate creceives ca cbinder cdeposit cfrom ca cprospective cbuyer cand
cThursday cmorning. cLater cthat csame cday, cthe cassociate cgives cthe cbinder cdeposit
cto chis cbroker. cBy cthe cend cof cbusiness con cwhat cday cof cthe cweek cmust cthe
cbroker cdeposit cthe cfunds cinto cher cescrow caccount? ca.) cFriday cb.) cMonday cc.)
cTuesday
d.) cWednesday c- c ANSWER cTuesday
Real cestate csales cassociates cwho creceive cchecks cpayable cto cthem cas cdeposits
con cthe cpurchase cof creal cproperty cmust- c ANSWER cendorse cthe cchecks cand
cimmediately cturn cthem cover cto ctheir cemployers
True cor cFalse: cIs cit cillegal cfor cthe cbroker cto ckeep cany cearned cinterest ceven cif
cthe cbuyer cand cthe cseller cgive cwritten cpermission c- c ANSWER cFalse
True cor cFalse: cThe cescrow caccount cmay cbe cwither cinterest cbearing cor
cnon- cinterest cbearing. c- c ANSWER cTrue
, A cbroker cmust cget cwritten cauthorization cfrom cthe cbuyer cand cthe cseller cbefore
cplacing cescrow cfunds cin can cinterest-bearing cescrow caccount. c- c ANSWER cTrue
A cbroker cmay cchoose cto chave can cattorney cor cFlorida ctitle ccompany cmaintain
cthe cescrow caccount. c- c ANSWER cTrue
If ca cdispute carises cbetween cthe cbuyer cand cthe cseller cas cto cwhich cone cis centitled
cto cescrow con cproperty, cwhat cshould cthe cbroker cdo cfirst? c- c ANSWER cNotify
cthe cFREC cin cwriting, cunless cexempted cfrom cthe cnotice crequirements.
