FL Real Estate Sales Associate 63 HR
COURSE Exam Chapters 1-10
Questions with Verified Answers
One Acre - ANSWERS43560 sq ft
One Mile - ANSWERS5280 feet
Township - ANSWERS36 Sections (6m x 6 m)
Section - ANSWERS640 acres (1m x 1m)
Follow-up - ANSWERSwhat a sales associate does for buyers/sellers after a sale
Property Management - ANSWERSinvolves leasing, managing, marketing &
maintenance of property
CMA - ANSWERSComparative Market Analysis: a marketing tool & many not be
referred to or represented as an appraisal - CMAs do not have to conform to USPAP
standards
Categories of real estate licenses (3) - ANSWERS1. Sales Associate (under direction of
Broker)
2. Broker
3. Broker Associate (under direction of Broker)
Key to Real Estate Application - ANSWERSTruthfulness
Mutual Recognition - ANSWERSIf approved for MUTUAL RECOGNITION applicants
are exempt from prelicense education course, must pass 40 question test on FL real
estate law w/75% (30 correct) or higher.
Term of Application validity - ANSWERS2 years - RE Lic. applications good for 2 years
w/DBPR.
Power of Attorney (Attorney-in-fact) - ANSWERSA person cannot appoint another
individual as an attorney-in-fact for the purpose of conduction real estate services for
others (only for self).
Quasi-judicial - ANSWERSResponsibility of FREC:
1. power to grant/deny applications
, 2.determine lic. law violations & administer penalties (CANNOT impose imprisonment -
FREC handles administrative not criminal violations)
Temporary License - ANSWERS6 month expiration - NOT renewable
Voluntarily Relinquish - ANSWERSOr XCL, only allowed if NO investigation or discipline
pending
Multiple License - ANSWERSIssued to Broker if more than one business. Each
business (location) needs separate lic.
"Arm's Length" - ANSWERSconduct business on own behalf w/out trusting other's
fairness/integrity (caveat emptor applies).
Caveat Emptor - ANSWERSBuyer beware!
Agency Relationship - ANSWERSBusiness transactions i.e. Attorney (agent) and Client
(principal)
Disclosure Document Held for how many years? - ANSWERS5 years - Broker of all
residential transaction that result in written contract must be held by Broker for 5 years.
Designated Sales Associate - ANSWERSNon-residential transactions: Broker may
appoint 2 (DUAL AGENTS) of his/her sales agents to each be a single agent to the
buyer and the other to the seller - ONLY IF buyer & seller have assets of 1 Million or
more and sign a disclosure to state assets & includes duties of single agent
Reasons for Termination of Brokerage Relationship btwn Principal (customer) & Broker
- ANSWERS1. Fulfillment
2. Mutual Agreement
3. Expiration
4. Broker renounces
5. Principal revokes
6. Death of a buyer's broker
7. Death of a seller's broker
8. Destruction of property or eminent domain
9.Bankruptcy of principal (customer)
Active Broker's Sign - ANSWERSMust display sign at exterior or interior of entrance to
office (every office location must have one)
1. Trade Name
2. Broker's Name
3. "Lic. Real Estate Broker"
Associate Names on Broker's Sign - ANSWERSMust a line or observable space btwn
Broker and Assoc. Names. Title of Associates must appear after their names.
COURSE Exam Chapters 1-10
Questions with Verified Answers
One Acre - ANSWERS43560 sq ft
One Mile - ANSWERS5280 feet
Township - ANSWERS36 Sections (6m x 6 m)
Section - ANSWERS640 acres (1m x 1m)
Follow-up - ANSWERSwhat a sales associate does for buyers/sellers after a sale
Property Management - ANSWERSinvolves leasing, managing, marketing &
maintenance of property
CMA - ANSWERSComparative Market Analysis: a marketing tool & many not be
referred to or represented as an appraisal - CMAs do not have to conform to USPAP
standards
Categories of real estate licenses (3) - ANSWERS1. Sales Associate (under direction of
Broker)
2. Broker
3. Broker Associate (under direction of Broker)
Key to Real Estate Application - ANSWERSTruthfulness
Mutual Recognition - ANSWERSIf approved for MUTUAL RECOGNITION applicants
are exempt from prelicense education course, must pass 40 question test on FL real
estate law w/75% (30 correct) or higher.
Term of Application validity - ANSWERS2 years - RE Lic. applications good for 2 years
w/DBPR.
Power of Attorney (Attorney-in-fact) - ANSWERSA person cannot appoint another
individual as an attorney-in-fact for the purpose of conduction real estate services for
others (only for self).
Quasi-judicial - ANSWERSResponsibility of FREC:
1. power to grant/deny applications
, 2.determine lic. law violations & administer penalties (CANNOT impose imprisonment -
FREC handles administrative not criminal violations)
Temporary License - ANSWERS6 month expiration - NOT renewable
Voluntarily Relinquish - ANSWERSOr XCL, only allowed if NO investigation or discipline
pending
Multiple License - ANSWERSIssued to Broker if more than one business. Each
business (location) needs separate lic.
"Arm's Length" - ANSWERSconduct business on own behalf w/out trusting other's
fairness/integrity (caveat emptor applies).
Caveat Emptor - ANSWERSBuyer beware!
Agency Relationship - ANSWERSBusiness transactions i.e. Attorney (agent) and Client
(principal)
Disclosure Document Held for how many years? - ANSWERS5 years - Broker of all
residential transaction that result in written contract must be held by Broker for 5 years.
Designated Sales Associate - ANSWERSNon-residential transactions: Broker may
appoint 2 (DUAL AGENTS) of his/her sales agents to each be a single agent to the
buyer and the other to the seller - ONLY IF buyer & seller have assets of 1 Million or
more and sign a disclosure to state assets & includes duties of single agent
Reasons for Termination of Brokerage Relationship btwn Principal (customer) & Broker
- ANSWERS1. Fulfillment
2. Mutual Agreement
3. Expiration
4. Broker renounces
5. Principal revokes
6. Death of a buyer's broker
7. Death of a seller's broker
8. Destruction of property or eminent domain
9.Bankruptcy of principal (customer)
Active Broker's Sign - ANSWERSMust display sign at exterior or interior of entrance to
office (every office location must have one)
1. Trade Name
2. Broker's Name
3. "Lic. Real Estate Broker"
Associate Names on Broker's Sign - ANSWERSMust a line or observable space btwn
Broker and Assoc. Names. Title of Associates must appear after their names.
