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GOLD COAST FINAL EXA M (100%
VERIFIED) GRADED A+ BY
EXPERTS
Question 1: What are the areas a realtor should be an
expert in?
CORRECT ANSWER: Marketing Valuation & Market
Conditions Property Transfer "MVP"
Question 2: Does one need to be a resident of the state or
a citizen of the U.S. to get a FL real estate license?
CORRECT ANSWER: to get a FL real estate license,
you don't need to be a citizen
Question 3: What must an applicant for a real estate
license do if he has been convicted of a crime?
CORRECT ANSWER: must disclose all convictions
Question 4: Employment
CORRECT ANSWER: an associate can only have one
employer at a time
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Question 5: What's the grace period for a Sales associate's
first renewal? Post Licensing
CORRECT ANSWER: no grace period, void and null
Question 6: Individuals who are exempt from licensure
CORRECT ANSWER: Salaried Employees
Question 7: How long can one stay involuntary inactive?
CORRECT ANSWER: 2 years
Question 8: What happens to an associate's license if a
broker's license is void, suspended, or revoked?
CORRECT ANSWER: their license automatically
becomes inactive
Question 9: Multiple Licenses
CORRECT ANSWER: issued only to active brokers if it
is clearly shown that such additional licenses are necessary to the conduct of legitimate business
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Question 10: What is a Transaction broker?
CORRECT ANSWER: a broker who provides limited
representation to a buyer, seller, or both, in a real estate transaction not an AGENT
Question 11: Presenting Offers
CORRECT ANSWER: must present all offers
Question 12: A broker is entitled to compensation if
they...
CORRECT ANSWER: bring a buyer who brings an
offer the seller was looking for
Question 13: Listing Contract
CORRECT ANSWER: broker's employment contract
that states the terms and conditions that the broker must meet to become eligible for compensation
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Question 14: Referral Fees: I as the seller's agent promise kickback commission. Is this allowed?
CORRECT ANSWER: yes, as long as this is disclosed
to all interested parties
Question 15: What if an attorney asks for a fee because
they referred a client to you?
CORRECT ANSWER: you cannot give him a referral
fee for sending you a client
Question 16: Principal Brokerage office
CORRECT ANSWER: -registration is good for 2 years
-can switch locations
Question 17: Branch brokerage office
CORRECT ANSWER: -registration is good for 2 years
-cannot move locations if not the principal location... in order to move it would need a new registration for the new location and must pay fees associated with it