Gold Coast Real Estate
Study online at https://quizlet.com/_1gv76r
1. Tract building: When a dev. Acquired land, records a plat map and uses a model
center from which sales may be made
2. Local level: Planning, zoning, property taxation, building and health codes and
regulations, and building moratoriums that affect development play a significant role
in the cost and desirability of real estate
3. Broker associate: A licensed broker working for another broker
4. False: A florida real estate license applicant must be a resident and citizen (true
or false)
5. Application Denial: You have 21 days to send a formal letter to the department
for a hearing if:
6. One: How mang brokers can a sales or broker associate work for
7. Post license requirements: No grace period
8. Sales associate first renewal: No grace period
9. Exempt from licensure: Attorney in fact/ Attorney at Law
10. Attorneys at law: My perform legal services on behalf ofntheir clients; they may
prepare documents, handle closings, and give legal advice.
11. Involuntary inactive: An individual who does not request renewal of their sec-
ond or subsequent lecense, pay the required fees, or maintain their continuing
education requirements will have their license placed in
12. 2 years: A license may remain in involuntary inactive status for no longer than
13. Special Agent: A special agent is authorized under agency law by the employer
to perform a single act. The employment contract between the employer and agent
establishes the limit of authority granted
14. Presenting offers: A broker has a buty to transmit any and all offers to the
employer including oral offers or offers made without a binder deposit
15. Limited: A transaction broker provides what kind of representation
16. Single agent: this agency relationship is created when a broker accepts employ-
ment under a single agency agreement. A broker may represent a seller or buyer ,
or a landlord or tenant.
17. Principal: In a single agency relationship, the employer becomes the
18. For sale By owner: Non Representation or (No Brokerage Relationship can
also be called)
19. FSBO: For sale by owner can also be called
20. Stationary Construction: An active broker is required to have this open which
must be registered with the department of Business and Professional Regulation
where Negotiations and the closing of real estate transactions can be conducted
with privacy
21. Others: Licencees should make clear that they are dealing on their own account
and not acting on the behalf of
1/8
, Gold Coast Real Estate
Study online at https://quizlet.com/_1gv76r
22. Public: Licencees should make known their status as licencees to members of
the
23. Serious negotiations: This Disclosure should be made prior to entering into
24. Deposit: A form of Money, personal property, real property, or anything of value
that is capable of being converted into cash.
25. Closing: Typically the deposit is intended as partial payment of the purchase
price at?
26. Post dated checks: Are considered to be promissory notes and can be accept-
ed as earnest money with the seller's approval.
27. True: When a deposit is placed, or is to be placed, with a title company or an
attorney, the licensee who prepared or presented the sales contract must indicate
on that contract the name, address, and telephone number of the title company or
attorney with whom the deposit was placed (True or False)
28. Escrow or trust account: May be held in a commercial bank, title company
which has trust powers, credit union, or savings and loan association located in the
state of Florida
29. cannot: The escrow account be held in a stock or bond brokerage house
30. Commingle: A broker is not allowed to or deposit the personal funds
of any person with any funds being held in escrow, trust or on condition
31. Next business day: A sales associate or broker associate who receives an
earnest money deposit on behalf of his or her employer must deliver the deposit
to the employer no later than the following the receipt
32. True: A broker must immediately place the earnest money deposit in a escrow
or trust account. (True or False)
33. Immadiately: Defined as "No later than the end of the third business day
following receipt"
34. escrow dispute: Conflicting requests in which both the buyer and the seller
demand that the broker release escrowed funds is called an
35. written notification: If a broker receives conflicting demansafor escrowed
funds, or if the broker has good-faith doubt as to which person is entitled to the
escrow property, the broker must give to the commission
36. 15 days: Notification to the commission must be made within from the
date of the last party's demand.
37. 10 days: A sales associate must report any change of employer or change of
address within of the change to the Department on a form prescribed for such
use.
38. 60 days: Any resident licensee who becomes a nonresident must notify the
Commission of the change in residency within
39. False: A non- US Citizen can be denied (True or False)
2/8
Study online at https://quizlet.com/_1gv76r
1. Tract building: When a dev. Acquired land, records a plat map and uses a model
center from which sales may be made
2. Local level: Planning, zoning, property taxation, building and health codes and
regulations, and building moratoriums that affect development play a significant role
in the cost and desirability of real estate
3. Broker associate: A licensed broker working for another broker
4. False: A florida real estate license applicant must be a resident and citizen (true
or false)
5. Application Denial: You have 21 days to send a formal letter to the department
for a hearing if:
6. One: How mang brokers can a sales or broker associate work for
7. Post license requirements: No grace period
8. Sales associate first renewal: No grace period
9. Exempt from licensure: Attorney in fact/ Attorney at Law
10. Attorneys at law: My perform legal services on behalf ofntheir clients; they may
prepare documents, handle closings, and give legal advice.
11. Involuntary inactive: An individual who does not request renewal of their sec-
ond or subsequent lecense, pay the required fees, or maintain their continuing
education requirements will have their license placed in
12. 2 years: A license may remain in involuntary inactive status for no longer than
13. Special Agent: A special agent is authorized under agency law by the employer
to perform a single act. The employment contract between the employer and agent
establishes the limit of authority granted
14. Presenting offers: A broker has a buty to transmit any and all offers to the
employer including oral offers or offers made without a binder deposit
15. Limited: A transaction broker provides what kind of representation
16. Single agent: this agency relationship is created when a broker accepts employ-
ment under a single agency agreement. A broker may represent a seller or buyer ,
or a landlord or tenant.
17. Principal: In a single agency relationship, the employer becomes the
18. For sale By owner: Non Representation or (No Brokerage Relationship can
also be called)
19. FSBO: For sale by owner can also be called
20. Stationary Construction: An active broker is required to have this open which
must be registered with the department of Business and Professional Regulation
where Negotiations and the closing of real estate transactions can be conducted
with privacy
21. Others: Licencees should make clear that they are dealing on their own account
and not acting on the behalf of
1/8
, Gold Coast Real Estate
Study online at https://quizlet.com/_1gv76r
22. Public: Licencees should make known their status as licencees to members of
the
23. Serious negotiations: This Disclosure should be made prior to entering into
24. Deposit: A form of Money, personal property, real property, or anything of value
that is capable of being converted into cash.
25. Closing: Typically the deposit is intended as partial payment of the purchase
price at?
26. Post dated checks: Are considered to be promissory notes and can be accept-
ed as earnest money with the seller's approval.
27. True: When a deposit is placed, or is to be placed, with a title company or an
attorney, the licensee who prepared or presented the sales contract must indicate
on that contract the name, address, and telephone number of the title company or
attorney with whom the deposit was placed (True or False)
28. Escrow or trust account: May be held in a commercial bank, title company
which has trust powers, credit union, or savings and loan association located in the
state of Florida
29. cannot: The escrow account be held in a stock or bond brokerage house
30. Commingle: A broker is not allowed to or deposit the personal funds
of any person with any funds being held in escrow, trust or on condition
31. Next business day: A sales associate or broker associate who receives an
earnest money deposit on behalf of his or her employer must deliver the deposit
to the employer no later than the following the receipt
32. True: A broker must immediately place the earnest money deposit in a escrow
or trust account. (True or False)
33. Immadiately: Defined as "No later than the end of the third business day
following receipt"
34. escrow dispute: Conflicting requests in which both the buyer and the seller
demand that the broker release escrowed funds is called an
35. written notification: If a broker receives conflicting demansafor escrowed
funds, or if the broker has good-faith doubt as to which person is entitled to the
escrow property, the broker must give to the commission
36. 15 days: Notification to the commission must be made within from the
date of the last party's demand.
37. 10 days: A sales associate must report any change of employer or change of
address within of the change to the Department on a form prescribed for such
use.
38. 60 days: Any resident licensee who becomes a nonresident must notify the
Commission of the change in residency within
39. False: A non- US Citizen can be denied (True or False)
2/8
