Gold Coast Real Estate Exam Q & A 2024 Tract building Answer- When a dev. Acquired land, records a plat map and uses a model center from which sales may be made Local level Answer- 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 Broker associate Answer- A licensed broker working for another broker False Answer- A florida real estate license applicant must be a resident and citizen (true or false) Application Denial Answer- You have 21 days to send a formal letter to the
department for a hearing if:
One Answer- How mang brokers can a sales or broker associate work for Post license requirements Answer- No grace period Sales associate first renewal Answer- No grace period Exempt from licensure Answer- Attorney in fact/ Attorney at Law Attorneys at law Answer- My perform legal services on behalf ofntheir clients; they may prepare documents, handle closings, and give legal advice.Involuntary inactive Answer- An individual who does not request renewal of their second or subsequent lecense, pay the required fees, or maintain their continuing education requirements will have their license placed in
- years Answer- A license may remain in involuntary inactive status for no longer
than Special Agent Answer- 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 1 / 2
Presenting offers Answer- A broker has a buty to transmit any and all offers to the employer including oral offers or offers made without a binder deposit Limited Answer- A transaction broker provides what kind of representation Single agent Answer- this agency relationship is created when a broker accepts employment under a single agency agreement. A broker may represent a seller or buyer , or a landlord or tenant.Principal Answer- In a single agency relationship, the employer becomes the For sale By owner Answer- Non Representation or (No Brokerage Relationship can also be called) FSBO Answer- For sale by owner can also be called Stationary Construction Answer- 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 Others Answer- Licencees should make clear that they are dealing on their own account and not acting on the behalf of Public Answer- Licencees should make known their status as licencees to members of the Serious negotiations Answer- This Disclosure should be made prior to entering into Deposit Answer- A form of Money, personal property, real property, or anything of value that is capable of being converted into cash.Closing Answer- Typically the deposit is intended as partial payment of the purchase price at?Post dated checks Answer- Are considered to be promissory notes and can be accepted as earnest money with the seller's approval.True Answer- 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) Escrow or trust account Answer- 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 cannot Answer- The escrow account ______ be held in a stock or bond brokerage house
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