Florida Real Estate: Unit 2
Chapter 20, Florida Statute - ANS- Executive branch of FLorida government.
Chapter 475, Part I, Florida Statute - ANS- Real Estate brokers, sales associates, and
schools
Chapter 455, Florida Statute - ANS- Department of Business and Professional Regulation
and the professions under the dep.
Chapter 120, Florida Statute - ANS- Procedural process for lol governmental entities
authorized under the Florida Constitution.
Chapter 61J2, Florida Administrative Code - ANS- Florida Real Estate Commission rules
Sales Associate - ANS- A licensed individual who, for compensation, is employed by a
broker or owner-developer.
Broker - ANS- A person who, for another and for compensation or other consideration
(or anticipation of compensation or other consideration), performs real estate services.
Broker associate - ANS- A person who holds a broker's license but chooses to register
and work in real estate under the direction of another broker.
Owner-developer - ANS- An unlicensed entity that sells, exchanges, or leases its own
property. (EX: a real estate development company that owns land that it develops into
subdivisions and then builds and sells homes.)
True or False: Unlicensed sales personnel who are employed by a n owner-develop must
be paid on a transactional basis. - ANS- False
A person who is broker qualified but chooses to register and work under an employing
broker is referred to as a broker associate. - ANS- True
A person who holds a four-year degree or rhigher in real estate from an accredited
institution of higher education is exempt from FREC Course II. - ANS- True
Broker applicants are required to fulfill an experience requirement of AT LEAST 36
months off real estate experience during the five-year period preceding their becoming
licensed as brokers. - ANS- False: 24 months
Chapter 20, Florida Statute - ANS- Executive branch of FLorida government.
Chapter 475, Part I, Florida Statute - ANS- Real Estate brokers, sales associates, and
schools
Chapter 455, Florida Statute - ANS- Department of Business and Professional Regulation
and the professions under the dep.
Chapter 120, Florida Statute - ANS- Procedural process for lol governmental entities
authorized under the Florida Constitution.
Chapter 61J2, Florida Administrative Code - ANS- Florida Real Estate Commission rules
Sales Associate - ANS- A licensed individual who, for compensation, is employed by a
broker or owner-developer.
Broker - ANS- A person who, for another and for compensation or other consideration
(or anticipation of compensation or other consideration), performs real estate services.
Broker associate - ANS- A person who holds a broker's license but chooses to register
and work in real estate under the direction of another broker.
Owner-developer - ANS- An unlicensed entity that sells, exchanges, or leases its own
property. (EX: a real estate development company that owns land that it develops into
subdivisions and then builds and sells homes.)
True or False: Unlicensed sales personnel who are employed by a n owner-develop must
be paid on a transactional basis. - ANS- False
A person who is broker qualified but chooses to register and work under an employing
broker is referred to as a broker associate. - ANS- True
A person who holds a four-year degree or rhigher in real estate from an accredited
institution of higher education is exempt from FREC Course II. - ANS- True
Broker applicants are required to fulfill an experience requirement of AT LEAST 36
months off real estate experience during the five-year period preceding their becoming
licensed as brokers. - ANS- False: 24 months
