1. The determines mone- tary policy in the U. S. by controlling the availability of money.
Federal Reserve System
2. The Homestead Act was
... [Show More] passed primarily to exempt property
from forced sale
3. A sales associate authorized to negotiate a sale of property has the authority to
4. The sales specialty that involves the knowledge of regulated land use, environmental considerations, transportation, labor costs and utility charges is
5. A real estate agent's trade association that requires raising the professional and ethical standards of their members is the
6. Property management customarily includes all these but
work under the di- rection of a broker or in some cases an owner-develop- er
industrial
National Associa- tion of Realtors.
representation of the tenant
7. Property management in the real estate business has the growth in ab-
gained popularity and importance due to
8. The sales associate who can explain property taxes and homestead exemptions, in addition to helping prospective buyers obtain financing, is a
9. A sales associate with ABC Realty was contacted by Big Bank to do a Broker Price Opinion (BPO). Since the fee for this was small, the bank paid the salesperson directly. This situation is
sentee ownership.
residential spe- cialist
illegal, since sales associate violated Chapter 475, F.S.
10. The product that all real estate professionals sell is their expert knowl-
edge
11. Counseling
Which area of real estate requires the highest degree of expertise?
12. A licensed appraiser is compensated for an appraisal with a flat fee
13. Sales associates who fail to complete the post-licens- ing education requirement after 24 months and want to continue in the real estate business are required to requalify for licensure by
14. After completing the post-licensing education during the initial license period, licensees must complete
15. Prior to Owner's death, she named her friend, Jenny, as the personal representative of her estate. To take an active part in the sale of Owner's real estate, Jenny is
16. Since performing a broker price opinion or compara-
repeating the pre-licensure
class, passing the end-of-course examination, and passing the state licensure examination.
at least 14
hours of continu- ing education dur- ing every 2-year li- cense period for active and inactive licensees.
not required to ob- tain a real estate license.
sales associate's
tive market analysis constitutes real estate brokerage Broker/brokerage.
activity, the compensation collected in connection with that activity must be paid to the
17. A licensee may substitute attendance at one legal agenda session of the FREC for
18. An unlicensed personal assistant may be at an open house and can
three hours of con- tinuing education credit.
hand out materials
19. 19.
As a licensed sales associate, you have decided to hire someone to help with your business, so you hire an unlicensed personal assistant. They can
20. A manager is a salaried manager of a 20-unit condo-
gather information for a comparative market analysis
No, because
minium complex. An owner of one unit is leaving town the rental period
for six months. If the manager rents the owner's unit to a student for the six-month period, does he need a real estate license?
21. Which Florida Administrative Code expands upon the statutory provisions of Chapter 475, Florida Statutes
22. In addition to Chapter 475, The Florida Statute that de- fines the general legal practice and procedure for the Department of Business and Professional Regulation (DBPR) and the licensees of all professions, including real estate, is
arranged was for not more than one year
61J2
455
23. FREC has the authority to discipline Florida-licensed, Chapter 455
real estate professionals under what Florida State Statute?
24. On the seven total members of the FREC, two must be never licensed as
real estate sales associates or bro- kers.
25. If a real estate licensee believes a rule or guideline that substantially affects him is not valid and needs to be changed, recourse should be sought by
26. The law that establishes the legal rights and respon- sibilities of real estate licensees is
27. A sales associate is a licensed associate of a broker. If by issuance of a Final Order, the broker's license
petitioning for an administrative de- termination before the Florida Real Estate Commis- sion.
Florida Statute Chapter 475
was revoked by the Florida Real Estate Commission, automatically be-
the sales associate's license is
28. Failure to complete the sales associate post-licens- ing education requirement will cause the initial li- cense to
come involuntary inactive status
become null and void
29. The Division of Real Estate exists primarily to Provide adminis-
trative support to the FREC.
30. Janelle just passed the exam for the real estate sales associate's license, but after working for three months under a broker, she finds she is too busy with family obligations to devote enough time to the job and resigns. The best way for Janelle to retain her license in voluntarily inactive status, is to
take the post-li- censure course before her first re- newal, then take the CE courses every two years, and pay her re- newal fees.
31. Which statement best describes a group license? a right granted to a
sales associate or broker associate to work various properties owned by one owner/de- veloper
32. Which best describes the members of the Florida Real Estate Commission?
four licensed bro- kers with five years experience
; one broker or sales associate with two years ex- perience ; and two consumers who have never been involved in the real estate profession
33. A transaction broker is best described as the concept of
34. When a broker employs a licensed real estate sales associate, the sales associate has
one who provides limited represen- tation in a bro- kerage transac- tion between buy- er and seller.
the same obliga- tions to the bro- ker's clients and customers as the broker.
35. A broker lists a home that she knows would be perfect nothing, but pre-
for her mother. The home is being sold due to the death of the owner, and the broker knows the owner's heir, who lives in Pennsylvania, is willing to accept
a much lower offer than the home's listed price. The broker should tell her mother
36. When mus [Show Less]