Gold Coast Real Estate Questions and Answers 2023 with
complete solution
Tract building
When a dev. Acquired land, records a plat map and uses a model center from which
sales may be made
Local level
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
A licensed broker working for another broker
False
A florida real estate license applicant must be a resident and citizen (true or false)
Application Denial
You have 21 days to send a formal letter to the department for a hearing if:
One
How mang brokers can a sales or broker associate work for
Post license requirements
No grace period
Sales associate first renewal
No grace period
Exempt from licensure
Attorney in fact/ Attorney at Law
Attorneys at law
My perform legal services on behalf ofntheir clients; they may prepare documents,
handle closings, and give legal advice.
Involuntary inactive
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
2 years
A license may remain in involuntary inactive status for no longer than
Special Agent
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
Presenting offers
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
A transaction broker provides what kind of representation
Single agent
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
In a single agency relationship, the employer becomes the
For sale By owner
Non Representation or (No Brokerage Relationship can also be called)
FSBO
For sale by owner can also be called
Stationary Construction
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
Licencees should make clear that they are dealing on their own account and not acting
on the behalf of
Public
Licencees should make known their status as licencees to members of the
Serious negotiations
This Disclosure should be made prior to entering into
Deposit
A form of Money, personal property, real property, or anything of value that is capable of
being converted into cash.
Closing
Typically the deposit is intended as partial payment of the purchase price at?
Post dated checks
Are considered to be promissory notes and can be accepted as earnest money with the
seller's approval.
True
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
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
The escrow account ______ be held in a stock or bond brokerage house
Commingle
A broker is not allowed to _________ or deposit the personal funds of any person with
any funds being held in escrow, trust or on condition
Next business day
A sales associate or broker associate who receives an earnest money deposit on behalf
of his or her employer must deliver the deposit to the employer no later than the
_________________ following the receipt
True
A broker must immediately place the earnest money deposit in a escrow or trust
account. (True or False)
Immadiately
complete solution
Tract building
When a dev. Acquired land, records a plat map and uses a model center from which
sales may be made
Local level
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
A licensed broker working for another broker
False
A florida real estate license applicant must be a resident and citizen (true or false)
Application Denial
You have 21 days to send a formal letter to the department for a hearing if:
One
How mang brokers can a sales or broker associate work for
Post license requirements
No grace period
Sales associate first renewal
No grace period
Exempt from licensure
Attorney in fact/ Attorney at Law
Attorneys at law
My perform legal services on behalf ofntheir clients; they may prepare documents,
handle closings, and give legal advice.
Involuntary inactive
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
2 years
A license may remain in involuntary inactive status for no longer than
Special Agent
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
Presenting offers
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
A transaction broker provides what kind of representation
Single agent
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
In a single agency relationship, the employer becomes the
For sale By owner
Non Representation or (No Brokerage Relationship can also be called)
FSBO
For sale by owner can also be called
Stationary Construction
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
Licencees should make clear that they are dealing on their own account and not acting
on the behalf of
Public
Licencees should make known their status as licencees to members of the
Serious negotiations
This Disclosure should be made prior to entering into
Deposit
A form of Money, personal property, real property, or anything of value that is capable of
being converted into cash.
Closing
Typically the deposit is intended as partial payment of the purchase price at?
Post dated checks
Are considered to be promissory notes and can be accepted as earnest money with the
seller's approval.
True
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
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
The escrow account ______ be held in a stock or bond brokerage house
Commingle
A broker is not allowed to _________ or deposit the personal funds of any person with
any funds being held in escrow, trust or on condition
Next business day
A sales associate or broker associate who receives an earnest money deposit on behalf
of his or her employer must deliver the deposit to the employer no later than the
_________________ following the receipt
True
A broker must immediately place the earnest money deposit in a escrow or trust
account. (True or False)
Immadiately
