FinalTestQuestions(BobHogue2024) ComparativeMarketAnalysis(CMA)-ANS Marketingtoolandmaynotbereferredtoor representedasanappraisal FollowUP-ANS Whatssalesassociatesdoforbuyersandsellersafterthesale WhichisNOTacategoryofrealestatelicensesquestion?These3are-ANS Sales Associate;Broker;BrokerAssociate WhichdoesNOTneedtobedisclosedforBackgroundCheck?-ANS Parking,Speeding, inspections,ortrafficsignalviolations WhatisrequiredbyMutualRecognitionapplicants?-ANS 75%orhigherrequiredtopass exam Howlongisalicensevalidonarealestateapplication?-ANS 2years WhoisexemptfromhavingRealEstateLicense?-ANS Apersonwhohasbeengiven POA WhatpowerdoesFREChave?(#31)-ANS Quasi-Judical TheDBPRmayissueatemporaryrealestatelicensetowhich?(#25)-ANS Spouseof activedutywhotransferstoFloridaexpiresafter6monthsandisNOTRenewable Apersonwhonolongerwantstoengageintherealestatebusinesscanvoluntarilyrelinquishor cancelthelicense,providedthereisnoinvestigationordisciplinaryproceedingpendingagainst thelicense(#79)-ANS TrueStatement Brokerwhoqualifiesasthebrokerformorethanonebusinessentity?-ANS Multiple Licenses Howshouldabuyerrespondtoafor-sale-by-owner?-ANS CaveatEmptor(buyer beware) HowlongmustBrokersretainDisclosureDocuments?-ANS 5yearsinasecured location 1 / 2
Whathappensinanon-residentialrealestatetransactionwherethebuyerandthesellereach have1millionormoreinassets?-ANS Thebrokerwillassigntwosalesassociatesin suchanarrangementandtheyarecalleddesignatedsalesassociates
Abrokeragerelationshipb/waprincipal(oracustomer)andabrokermaybeterminatedby:(Is
aNOTQuestiononTest)-ANS Deathofasellersbrokerorthesellerbeforethebroker findsaready,willingandablebuyer.Deathofthebuyersbrokersorthebuyerbeforethebrokerfindsasuitablepropertyforthe buyer Destructionoftheproperty Bankruptcyoftheprincipalorthecustomer Whatdon'tyouhavetoputonanofficesign?-ANS Thenamesofthesalesandbrokers associatesarenotrequiredbuttheTradenameorBrokersnameisrequired WhichofthefollowingisatruestatementaboutFloridaTelemarketing?-ANS Violators maybefined$10,000percall Whenasalesassociatereceivesanearnestmoneydepositwhatmusthedo?-ANS Givetothebrokerw/n24hoursandthentheBrokerhas3businessdaystoputintoanescrow account WithinhowmanydaysmustaBrokernotifythecommissionaboutanEDO?-ANS 10 businessdays Saleausedcondogivebuyerthedocs.Aftertheyreceivethedocshowmanydaysdothey havetocancel?(TestQuestion#61)-ANS Answeris2Days!!Whatisitcalledwhencompetingbrokersconspiretoestablishthesamecommission?(#76)- ANS PriceFixing Brokerscannotpayanunlicensedpersonacommissionbutcandowhat?(#20)-ANS Canpaythemnomorethe$50 WhatdoesnotneedtoregisterasanRealEstateBroker?(#84)-ANS CorporationSole (church) Whatneedstobedonewhenfilingacomplaint?-ANS Mustbeinwriting Mustbelegallysufficient FRECgivessuspensionrequestwhatisitcalled?-ANS Stayofenforcement Complaintthatrequiredrefundofmoney.Whatcanttheydo?-ANS FRECdoesnothave theauthoritytoorderRESTITUTION
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