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Level 2: Real Estate License Law and Qualifications for Licensure Exam Practice Questions and Answers Why do real estate laws exist? - ANSWER-To protect the real estate customer What did the world of real estate operate on? Latin for let the buyer beware. - ANSWER-Caveat emptor Which law deals with everything real estate in Florida? - ANSWER-Chapter 475 When did the Florida Legislature pass Chapter 475? - ANSWER-In 1923 What is the quasi-judicial body that administers and enforces licens...

Florida Real Estate License Exam Study Guide Solutions client specialization - ANSWER-working exclusively with buyers or sellers property type specialization - ANSWER-residential, commercial, agricultural, etc type of transaction specialization - ANSWER-sales agent, leasing agent, short sales buyer or seller, REO specialist, property manager, etc geographical area specialization - ANSWER-a neighborhood specialist, for example type of relationship specialization - ANSWER-a fee based consul...

Florida Real Estate License Exam Prep 2024 Study Guide Chapter 20 - ANSWER-Establishes the structure of the executive branch of Florida government Chapter 475, Part 1 - ANSWER-Real Estate Brokerage (FREC) Chapter 475, Part II - ANSWER-Real Estate Appraisal (FREAB) Chapter 475, Part III - ANSWER-Commercial Real Estate Sales Commission Lien Act Chapter 475, Part IV - ANSWER-Commercial Real Estate Leasing Commission Lien Act Chapter 455 - ANSWER-Defines practices and procedures of the Depart...

Florida RE License Comprehensive Exam Practice Questions and Answers It's a sign that the overall economy is strong if which of the following things is healthy? - ANSWER- Real Estate Market Real Estate licensees, who deal in which type of property must be able to show its potential for after-tax gains? - ANSWER-Commercial Real estate licensees may not conduct appraisals involving which type of transaction? - ANSWER- Federally backed What is one of the best ways for real estate license...

Florida Mortgage Exam Practice Questions and Answers What is the regulatory authority in the state of Florida and what is it responsible for? - ANSWER-The OFR ( The Office of Financial Regulation) AKA The Office. They are responsible for overseeing banks, credit unions, savings associations, etc. also licenses and regulates non-depository finance entities. Who is the head of the OFR and the Office of Insurance Regulation. Who is involved? - ANSWER-The Financial Services Commission (The Co...

Florida Limited Lawn and Ornamental UF Exam Questions and Answers _______ is the state regulatory agency responsible for administering the state laws that govern pesticide applicator licensing in Florida - ANSWER-Florida Department of a Agriculture and Consumer Services (FDACS) How many unlicensed or unsupervised applicators may a person with a limited certificate supervise? - ANSWER-0 How long does a limited lawn and ornamental certificate remain valid without recertification? - ANSWER-...

Florida Licensing Exam Study Guide Solutions The administration of state insurance law is the responsibility of - ANSWER-the Chief Financial Officer Which state entity is responsible for approving a certificate of authority for an insurance company - ANSWER-Office of Insurance Regulation Which statement is true about the state insurance fraud department - ANSWER-if a criminal law has been violated ,the officer will refer it to the appropriate law enforcement agency. The Bureau of Financia...

Florida Licensing Exam Study Guide Solutions DEA - ANSWER-Drug Enforcement Administration; EST 1973 Enfrocement of CSA (controlled Substance ACT) Scheduled I drugs - ANSWER-Not tx in USA Scheduled II drugs: federal time limit for filling Rx - ANSWER-None after vet signed Scheduled II drugs: Federal limit to wuantities dispensed - ANSWER-None (some states do) Exemption to Schedule II drug written prescription - ANSWER-Facsimile serves as original when issued to residents of long term car...

Florida Licensing Exam Practice Questions and Answers Each licensee shall provide written notification by mail or by electronic means with confirmation to the Department of change of address within _________ days - ANSWER-30 When is the annual voting meeting of the Board? - ANSWER-October No Board member may be absent from how many regular/consecutive scheduled board meetings in a row unless excused - ANSWER-3 consecutive regular meetings Accepted excuses for scheduled Board meetings - AN...

Florida licensing exam Practice Questions and Answers When working at multiple practices, where do you keep your DEA certificate? What about registration? - ANSWER-DEA certificate (223) must be kept at the registered location. A separate registration is required for each place where controlled substances are kept. Do you need a separate DEA registration or certificate for a second hospital that doesn't have controlled substances? - ANSWER-You don't need a registration there (and don...

Florida License Practice Test Questions and Answers What provides the strongest evidence of marketable title? - ANSWER-Title insurance The loan-to-value ratio is used as an underwriting mechanism because - ANSWER-the loan amount needs to be less than the property's value What are "tenant improvements?" - ANSWER-Modifications to a rental suite to conform to a tenant's usage specifications A store owner enters into a lease that charges rent per square foot, a common area fee, an...

Florida license handbook Exam Practice Questions and Answers In your vehicle, what should you adjust before you start your engine? - ANSWER-be sure vehicle is in park or neutral. adjust the seat so you can reach all controls. adjust all rear-view mirrors so that you can use them without having to lean forward or backward. move anything that blocks your view of mirrors or roadway. lock all car doors. fasten your safety belt and make sure all passengers do the same. What are the equipment...

Restricted barbers license Florida Exam Practice Questions and Answers Under what chapter of the Florida statues do you find the barber regulations? - ANSWER-Chapter 476 What is the purpose of the barber regulations chapter? - ANSWER-To protect the public What does D.B.P.R. Stand for? - ANSWER-Department of Business & Professional Regulations. How many total board members? - ANSWER-7 Who appoints the board members? - ANSWER-The Governor Who confirms the board members? - ANSWER-The Senate...

Florida Drivers License Test Practice Questions and Answers What is the Move Over Law? - ANSWER-Protects law enforcement officers, emergency workers and tow truck drivers stopped along roadways while performing their jobs. Violation of this law puts both yourself and everyone around you at risk of injury or death. This can result in fines and points on your license. What is the benefit of the Emergency Contact Information System? - ANSWER-If you are in an emergency situation and registere...

Florida Drivers License Exam Study Guide Solutions what is the move over Florida law - ANSWER-A law protecting tow truck drivers enforcement officers and emergency workers Who needs a Florida driver's license - ANSWER-person who wants to live in florida and drive and enrolls children in school lives for more than 6 months Can a person temporarily operate a farm tractor on the highway without a driver's license - ANSWER-Yes list two documents that can be used as proof for a Social S...

Florida Driver License Practice Questions and Answers all rear view mirrors - ANSWER-In your vehicle what should you adjust before you start your engine windshields must be safety glass and not be covered with any material that makes the windshield reflective or non transparent and free of any stickers not required by law, side windows must not be covered with any reflective or mirrored appearance and reflects more than 25% light - ANSWER- what is the equipment requirements for windshields...

Florida contractors manual Exam Study Guide Solutions chapter 1 - ANSWER-business planning and organization sales and marketing - ANSWER-chpt 1 business structures - ANSWER-chpt 1 like sole proprietorship, limited partnership, etc Tax Id registration - ANSWER-chpt 1 occupational licenses, certificate of occupancy, zoning permits, etc. checklist for business start up - ANSWER-1-19 dissolution or termination - ANSWER-chpt 1 required forms - ANSWER-chpt 1 Chapter 2 - ANSWER-licensing cont...

Florida Contractor's Manual Exam Practice Questions and Answers What are the advantages of a Sole Proprietorship? - ANSWER-1-11 Who should a GC contact to verify proof of age in the case of employing a minor? - ANSWER-1-27 Which agency requires appropriate forms to be prepared and executed in compliance with the Florida General Corporation Act? - ANSWER-1-14 What form must be filed with the Federal Government to obtain an Employer Identification Number? - ANSWER-1-20 What is the state...

Florida 240 License Exam Practice Questions and Answers The stated amount or percent of liquid assets that an insurer must have on hand that will satisfy future obligations to its policyholders is called: - ANSWER-Reserves An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the: - ANSWER-Fair Credit Reporting Act A nonprofit incorporated society that does not have capital stock and operates for the sole benefit of its members...

Florida 2-15 Final Exam Practice Questions and Answers When life insurance proceeds are used to pay inheritance taxes and federal estate taxes, it is known as - ANSWER-Estate conservation In group insurance, the primary purpose of the Coordination of Benefits provision is to - ANSWER- Prevent overinsurance Which of the following statements is NOT true regarding health insurance policy provisions? - ANSWER-All additional provisions written by insurers are cataloged by their respective stat...