Gold Coast FINAL EXAM STUDY SET
for 4/11 Questions and All Correct
Answers 2025-2026 Updated.
what are the the areas a realtor should be an expert in? - Answer Marketing
Valuation & Market Conditions
Property Transfer
"MVP"
Does one need to be a resident of the state or a citizen of the U.S. to get a FL real estate license?
- Answer to get a FL real estate license, you don't need to be a citizen
What must an applicant for a real estate license do if he has been convicted of a crime? -
Answer must disclose all convictions
Employment - Answer an associate can only have one employer at a time
What's the grace period for a Sales associate's first renewal? Post Licensing - Answer no
grace period, void and null
Individuals who are exempt from licensure - Answer Salaried Employees
How long can one stay involuntary inactive? - Answer 2 years
What happens to an associates license if a broker's license is void, suspended, or revoked? -
Answer their license automatically becomes inactive
Multiple Licenses - Answer issued only to active brokers if it is clearly shown that such
additional licenses are necessary to the conduct of legitimate business
What is a Transaction broker - Answer a broker who provides limited representation to a
buyer, seller, or both, in a real estate transaction
*not an AGENT*
, Presenting Offers - Answer must present all offers
A broker is entitled to compensation if they... - Answer bring a buyer who brings an offer the
seller was looking for
Listing Contract - Answer broker's employment contract that states the terms and conditions
that the broker must meet to become eligible for compensation
Referral Fees:
I as the sellers agent promise kickback commission. Is this allowed? - Answer yes, as long as
this is disclosed to all interested parties
what if an attorney asks for a fee because they referred a client to you? - Answer you cannot
give him a referral fee for sending you a client
Principal Brokerage office - Answer -registration is good for 2 years
-can switch locations
branch brokerage office - 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 pays fees associated with it
What are the requirements for a Principal Office? - Answer -at least one enclosed room in a
building of stationary construction
-must maintain documents for a minimum of 5 years
What are the requirements for an associate advertising with a website? - Answer -must have
brokerage name and his/her last name
Advertising - Answer must have name of brokerage
When should one disclose that they are a licensed agent? - Answer prior to entering serious
negotiations
Escrow Account pg.75**** - Answer ESCROW ACCOUNT PG 75****
for 4/11 Questions and All Correct
Answers 2025-2026 Updated.
what are the the areas a realtor should be an expert in? - Answer Marketing
Valuation & Market Conditions
Property Transfer
"MVP"
Does one need to be a resident of the state or a citizen of the U.S. to get a FL real estate license?
- Answer to get a FL real estate license, you don't need to be a citizen
What must an applicant for a real estate license do if he has been convicted of a crime? -
Answer must disclose all convictions
Employment - Answer an associate can only have one employer at a time
What's the grace period for a Sales associate's first renewal? Post Licensing - Answer no
grace period, void and null
Individuals who are exempt from licensure - Answer Salaried Employees
How long can one stay involuntary inactive? - Answer 2 years
What happens to an associates license if a broker's license is void, suspended, or revoked? -
Answer their license automatically becomes inactive
Multiple Licenses - Answer issued only to active brokers if it is clearly shown that such
additional licenses are necessary to the conduct of legitimate business
What is a Transaction broker - Answer a broker who provides limited representation to a
buyer, seller, or both, in a real estate transaction
*not an AGENT*
, Presenting Offers - Answer must present all offers
A broker is entitled to compensation if they... - Answer bring a buyer who brings an offer the
seller was looking for
Listing Contract - Answer broker's employment contract that states the terms and conditions
that the broker must meet to become eligible for compensation
Referral Fees:
I as the sellers agent promise kickback commission. Is this allowed? - Answer yes, as long as
this is disclosed to all interested parties
what if an attorney asks for a fee because they referred a client to you? - Answer you cannot
give him a referral fee for sending you a client
Principal Brokerage office - Answer -registration is good for 2 years
-can switch locations
branch brokerage office - 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 pays fees associated with it
What are the requirements for a Principal Office? - Answer -at least one enclosed room in a
building of stationary construction
-must maintain documents for a minimum of 5 years
What are the requirements for an associate advertising with a website? - Answer -must have
brokerage name and his/her last name
Advertising - Answer must have name of brokerage
When should one disclose that they are a licensed agent? - Answer prior to entering serious
negotiations
Escrow Account pg.75**** - Answer ESCROW ACCOUNT PG 75****
