GOLD COAST REAL ESTATE EXAM PREP
QUESTIONS AND ANSWERS 2026 STUDY
GUIDE VERIFIED SOLUTIONS
●● Unwritten law; based on the decision of civil courts. Answer:
Common Law
●● Civil courts may impose fines of compensatory damages and in some
cases punitive damages.. Answer: Agency Law
●● civil fines. Answer: Compensatory damages
●● Additional monetary penalty. Answer: Punitive damages
●● Enforced by criminal courts; often monetary fines, but most
commonly though of in terms of imprisonment. Answer: Statutory Law
●● FREC; DBPR; Overseeing authoritative agencies. Answer:
Administrative Law
●● Employer of an agent. Answer: Principal
, ●● Does not need to be formal nor documented. Answer: Agency
relationships
●● Authorized under agency law to perform a single act; The
employment contract establishes limit of authority granted. Answer:
special agent
●● Has the principals authority to act for him on a frequent basis, but
with authority limited to a specific trade or business. Answer: general
agent
●● Authorized under agency law to act for and represent the principal in
ALL matters , without limitation. This agency is generally authorized by
a power of attorney.. Answer: universal agent
●● a broker who represents as a fiduciary, either the buyer or the seller,
but not both in the same transaction.. Answer: Single agent
●● the party with whom a real estate broker has entered into a single
agent relationship. Answer: Principal
●● Any and all licensees, unless a single agent or no brokerage
relationship is established in writing with a customer. Answer:
Transaction Broker
QUESTIONS AND ANSWERS 2026 STUDY
GUIDE VERIFIED SOLUTIONS
●● Unwritten law; based on the decision of civil courts. Answer:
Common Law
●● Civil courts may impose fines of compensatory damages and in some
cases punitive damages.. Answer: Agency Law
●● civil fines. Answer: Compensatory damages
●● Additional monetary penalty. Answer: Punitive damages
●● Enforced by criminal courts; often monetary fines, but most
commonly though of in terms of imprisonment. Answer: Statutory Law
●● FREC; DBPR; Overseeing authoritative agencies. Answer:
Administrative Law
●● Employer of an agent. Answer: Principal
, ●● Does not need to be formal nor documented. Answer: Agency
relationships
●● Authorized under agency law to perform a single act; The
employment contract establishes limit of authority granted. Answer:
special agent
●● Has the principals authority to act for him on a frequent basis, but
with authority limited to a specific trade or business. Answer: general
agent
●● Authorized under agency law to act for and represent the principal in
ALL matters , without limitation. This agency is generally authorized by
a power of attorney.. Answer: universal agent
●● a broker who represents as a fiduciary, either the buyer or the seller,
but not both in the same transaction.. Answer: Single agent
●● the party with whom a real estate broker has entered into a single
agent relationship. Answer: Principal
●● Any and all licensees, unless a single agent or no brokerage
relationship is established in writing with a customer. Answer:
Transaction Broker
