Gold Coast Real Estate Exam 90 Hours 1 – 7 Questions With Verified Answers, Exams of Real Estate Management

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Gold Coast Real Estate Exam 90 Hours 1 – 7

Questions With Verified Answers

What do licensess bring - Knowledge and experties in property transfer ,valution, market condition What is farming - concentrating on type of property What is residental transaction - Sale of a propety four units or lower tract building - model homes moratorium - a suspension of activity; an authorized delay what is a realtor@ - anyone a part of the national associtation of realtors How long does a sales associte have to part of a broker before becoming eligable to take state exam - 24 months What is a broker associte - a sales associte who has their broker license Do you need to be a florida resident or us citizen to get license - no How long does a applicant need to pass the state exam - 2 years What happens if your application gets denied - You have 21 days to see set an appoinment for a formal hearing before a adminstrive law judge What is a owner developer? - indiviual who is in business of buying, owning and developing real estate , must register with department but does not receive a real estate license. what does a sales associte must complete prior to the expiration date of his or inital license period - 45 hour post license course How many hours are countined education classes and what happens if they dont attend the class - 14 hours, They will become involuntary inactive How many hours do you need to renew broker license - 60 A sales associate failed to complete the required post-license education prior to renewal. - Void What is the department - Department of business and professional regulation

injuction - an authoritative warning or order Can the department injuction unlicensed people - No but they can cease and desist order against a unlicensed party for violation What can the exuctive power do - can be exucted by the chairman acting alone. whats the largest fee you can receive for a offense - 5000 What happens if a broker license is suspended - all people under license are inactive What is a group license - A group license is a single associate work for one owner- developer with affillated orgainization what is the maximum numbers of years a member may serve on the florida real estate commission - 8 what created the the department - FS. single agent - A broker who represents, as a fiduciary, either the buyer or seller but not both in the same transaction. Transacition broker - does not represent the buyer or seller, but instead acts as a neutral resource to help both parties complete a home sale Can a broker represent both a buyer and a seller? - No it is dual agency a real estate brokerage limited partnership must have how many general parthner with a active license - one general partner Joint venture - Temporary business that involves a single transction where 2 company join together can assocites be in a postion of power - No six individulas decide to form a real estate brokerage partnership all six individuals are planning to be active in real estate sales what do they all need - The partnership must be regiseted with the department and all six partners must be active real estate brokers If a broker has conflicting demands on money held in escrow, what is the first thing the broker should do? - Consult with a real estate attorny who is experienced in handling escrow problems If a sales associate receives a post dated check which of the following is the most apporiate action - Give the check to employing broker

A real estate brokerage firm advertise a listed property. - The name of brokerage must be included in the ad Which of the following is an approved depository for the earnest money - Florida Bank Three individuals decide to open a real estate brokerage office what do they need - At least one officer must be active broker What is a sole proprietorship? - A business owned by one person What is a general partnership - Where there are two or more persons who agree to engage in a business and agree to share in in the profits and losses. Can you take copies of listing from a broker when terminated - No you need permission Mediation - involves the skillful intervention of a third-party professional to help resolve disputes that arise between two or more parties. arbitration - the use of an arbitrator to settle a dispute choices a winner. Litigation - Going to court for a dispute Interpleader - a suit pleaded between two parties to determine a matter of claim or right to property held by a third party./ Litigation What does a broker office need - one enclosed room in a building of stationary construction where negotiation and the closing of real estate transcition can be conducted in privacy. What type of offense is false advertising - Second degree misdemeanors What is concealment? - When a broker fails to disclose information a party to whom the broker has such a duty. What is culpable negligence? - If a broker operates in a reckless,careless and excessively negligent manner. What is misrepresentation? - Misstatement or omission of facts. Properties with liens - If known, licensees must disclose the existence of any and all liens encumbering a property What is using lotteries - Selling a chance to win something.

What is a escrow dispute - Conflicting request in which both the buyer and seller demand the broker release escrow What account can a escrow be held - Commerical bank, Title company A broker is authorized to place how much in a escrow account - 1000 dollars What is liquidated damages - Default by the buyer usually requires the deposit to be foreited in favor to the seller to compensate for having removed property What is a blind ad - employer does not state the name of the practice or the telephone number in their ad. kickback - an illegal fee or rebate paid to someone in order to gain that person's decision or recommendation for the award of business listing contract - between a real estate broker and an owner of real property granting the broker the authority to act as the owner's agent in the sale of the property. What is a compliant - Is an allegation by a complaint (the person who makes the complaint that a violation of the law) If you want to appel what court should you go to - appeal court What is the charge for anyone found guilty of using false or misleading advertisting - Second degree misdemeanor What is the maximum fine frec can impose against a licensee who is found to be guilty of two violation. - 10, How is the Real Estate Recovery Fund funded? - Fees and fines paid by real estate licensees Who can have a 'group license'? - work associte who work under owner devolper Blockbusting - Inducing owners to sell because of entry of minorities into neighborhoods Steering (channeling) - guiding people into or away from any area based on their protected class (violation of fair housing) Redlining - Denying loans in certain areas due to race, religion, sex, familial status, or a disability.

what happens if property does not comply with ada - owner are to make necessary modifaction How long does the landlord have to return the security deposit - 15 days When may a landlord commingle a tenants security deposit with other business funds? - When the lanlord post a surety bond What are riparian rights? - The right of landowners to use the water that flows through or near their property What is accretion? - increase in land area as moving water deposit soil. intent - item was meant to become part of the real property Method of Annexation - how item was installed Adaptation - item designed for or necessary to nature of the property possession - a owner has a right to possess or occupy the property dispostion - a owner generally has the right to sell the property to give away. exclusion - owner has right to determine how the property will be used Estate in severalty - Ownership by one person, one corporation, one partnership Tenancy in Common - A tenancy in common is a fee estate held by two or more people. Remainderman - property law to refer a person who inherits or is entitled to inherit property upon the termination of the estate of the former owner. Constructive Notice - Notice given to the world by recorded documents what is Voluntary Alienation - Deed and Will