Gold Coast FINAL EXAM STUDY SET for 4/11 | 100%
Correct Answers | Verified | Latest 2024 Version
what are the areas a realtor should be an expert in? - ✔✔
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? - ✔✔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? - ✔✔must
disclose all convictions
Employment - ✔✔an associate can only have one employer at a time
What's the grace period for a Sales associate's first renewal? Post Licensing - ✔✔no grace period, void
and null
Individuals who are exempt from licensure - ✔✔Salaried Employees
How long can one stay involuntary inactive? - ✔✔2 years
What happens to an associates license if a broker's license is void, suspended, or revoked? - ✔✔their
license automatically becomes inactive
Multiple Licenses - ✔✔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 - ✔✔a broker who provides limited representation to a buyer, seller, or
both, in a real estate transaction
*not an AGENT*
Presenting Offers - ✔✔must present all offers
A broker is entitled to compensation if they... - ✔✔bring a buyer who brings an offer the seller was
looking for
Listing Contract - ✔✔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? - ✔✔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? - ✔✔you cannot give him a
referral fee for sending you a client
Principal Brokerage office - ✔✔-registration is good for 2 years
-can switch locations
branch brokerage office - ✔✔-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? - ✔✔-at least one enclosed room in a building of
stationary construction
Correct Answers | Verified | Latest 2024 Version
what are the areas a realtor should be an expert in? - ✔✔
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? - ✔✔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? - ✔✔must
disclose all convictions
Employment - ✔✔an associate can only have one employer at a time
What's the grace period for a Sales associate's first renewal? Post Licensing - ✔✔no grace period, void
and null
Individuals who are exempt from licensure - ✔✔Salaried Employees
How long can one stay involuntary inactive? - ✔✔2 years
What happens to an associates license if a broker's license is void, suspended, or revoked? - ✔✔their
license automatically becomes inactive
Multiple Licenses - ✔✔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 - ✔✔a broker who provides limited representation to a buyer, seller, or
both, in a real estate transaction
*not an AGENT*
Presenting Offers - ✔✔must present all offers
A broker is entitled to compensation if they... - ✔✔bring a buyer who brings an offer the seller was
looking for
Listing Contract - ✔✔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? - ✔✔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? - ✔✔you cannot give him a
referral fee for sending you a client
Principal Brokerage office - ✔✔-registration is good for 2 years
-can switch locations
branch brokerage office - ✔✔-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? - ✔✔-at least one enclosed room in a building of
stationary construction
