CRAM EXAM 1 QUESTIONS & ANSWERS
In which area of brokerage has absentee ownership increased the demand? - Answers
:Property management.
How is a real estate appraiser typically paid? - Answers :A fee based upon time and
difficulty of the appraisal.
Sandy works as a sales associate for a broker and has been asked to work weekends
for a developer to sell new homes on commission. What must Sandy do to work for the
developer? - Answers :Transfer her license from the broker to the owner-developer.
What does the license law require that a licensee complete before the first renewal of a
Florida real estate license? - Answers :A post-licensing course.
In a brokerage corporation, the officers and directors can be active or inactive brokers
or nonlicensed registered persons. If someone who is nonlicensed and registered wants
to become a broker, what must he or she do? - Answers :Qualify for a brokers license in
the same way as anyone else.
Who would be exempt from the real estate licensing law? - Answers :A person who
rents mobile home lots.
Which entity provides the best protection for the public during a real estate transaction?
- Answers :FREC and the license law.
Which of the following is a characteristic of group license? - Answers :It may be held by
a sales associate or broker associate.
All of the following are exempt from F.S. 475, EXCEPT: - Answers :Business brokers.
Complete the sentence. A broker who holds more than one broker license: - Answers
:Hold multiple licenses.
Complete the sentence. General partners in a brokerage partnership that are not
qualified to perform the services of real estate must be registered: - Answers :For
identification purposes.
What does the local planning agency have the authority to approve? - Answers :A
subdivision plat map.
What is it called when a developer gives land to a governmental body? - Answers
:Dedication.
, What business is a licensee engaged in who markets, leases and maintains property for
someone else? - Answers :Property management.
In which service of real estate must a licensee disclose the agency relationship and the
responsibilities of that relationship to the public? - Answers :Residential sales.
which power authorizes the FREC to pass or revise rules? - Answers :Quasi-legislative.
All of the following would be grounds for suspension or revocation of a real estate
license, EXCEPT: - Answers :Not being a resident of Florida.
Bill's license expired on September 30. On February 14, of the following year, he wants
to renew it. If it is not his first renewal, what must Bill do? - Answers :Pay a late fee and
complete 14 hours of continuing education.
Ron and his wife each have real estate licenses before he enters the military. Ron is
stationed in Washington, D.C., and his wife accompanies him there. If they make their
licenses inactive: - Answers :Ron and his wife are exempt from renewal requirements
until 6 months after Ron's discharge.
What is the status of a sales associate's license if the sales associate works for a
broker, and that broker loses his license? - Answers :Involuntary inactive.
The Florida Real Estate Commission may do all of the following, EXCEPT: - Answers
:Impose imprisonment as a penalty.
Karl's license expired on September 30, 2015. On February 10, 2019 he wants to
activate it again. Which is correct? - Answers :His license is null and void.
A real estate broker has entered into a single agency relationship with the seller of a
three-bedroom, two-bath house. one of the agents in the broker's office has found an
investor wanting to hire the brokerage firm as a single agent. For the investor to be
shown this seller's house: - Answers :Both the seller and the investor must agree to
transition to transaction broker status.
What must be given to a seller who is about to enter into a fiduciary relationship with a
brokerage firm? - Answers :Single Agency Notice.
What should a sales associate do if his employing broker instructs him or her not to
show properties to people of a certain race? - Answers :Find a new employer.
Which form requires the signature of all parties? - Answers :Transition to Transaction
Broker.
In which instance must the agency disclosure forms developed by the state be used? -
Answers :Residential sales.
In which area of brokerage has absentee ownership increased the demand? - Answers
:Property management.
How is a real estate appraiser typically paid? - Answers :A fee based upon time and
difficulty of the appraisal.
Sandy works as a sales associate for a broker and has been asked to work weekends
for a developer to sell new homes on commission. What must Sandy do to work for the
developer? - Answers :Transfer her license from the broker to the owner-developer.
What does the license law require that a licensee complete before the first renewal of a
Florida real estate license? - Answers :A post-licensing course.
In a brokerage corporation, the officers and directors can be active or inactive brokers
or nonlicensed registered persons. If someone who is nonlicensed and registered wants
to become a broker, what must he or she do? - Answers :Qualify for a brokers license in
the same way as anyone else.
Who would be exempt from the real estate licensing law? - Answers :A person who
rents mobile home lots.
Which entity provides the best protection for the public during a real estate transaction?
- Answers :FREC and the license law.
Which of the following is a characteristic of group license? - Answers :It may be held by
a sales associate or broker associate.
All of the following are exempt from F.S. 475, EXCEPT: - Answers :Business brokers.
Complete the sentence. A broker who holds more than one broker license: - Answers
:Hold multiple licenses.
Complete the sentence. General partners in a brokerage partnership that are not
qualified to perform the services of real estate must be registered: - Answers :For
identification purposes.
What does the local planning agency have the authority to approve? - Answers :A
subdivision plat map.
What is it called when a developer gives land to a governmental body? - Answers
:Dedication.
, What business is a licensee engaged in who markets, leases and maintains property for
someone else? - Answers :Property management.
In which service of real estate must a licensee disclose the agency relationship and the
responsibilities of that relationship to the public? - Answers :Residential sales.
which power authorizes the FREC to pass or revise rules? - Answers :Quasi-legislative.
All of the following would be grounds for suspension or revocation of a real estate
license, EXCEPT: - Answers :Not being a resident of Florida.
Bill's license expired on September 30. On February 14, of the following year, he wants
to renew it. If it is not his first renewal, what must Bill do? - Answers :Pay a late fee and
complete 14 hours of continuing education.
Ron and his wife each have real estate licenses before he enters the military. Ron is
stationed in Washington, D.C., and his wife accompanies him there. If they make their
licenses inactive: - Answers :Ron and his wife are exempt from renewal requirements
until 6 months after Ron's discharge.
What is the status of a sales associate's license if the sales associate works for a
broker, and that broker loses his license? - Answers :Involuntary inactive.
The Florida Real Estate Commission may do all of the following, EXCEPT: - Answers
:Impose imprisonment as a penalty.
Karl's license expired on September 30, 2015. On February 10, 2019 he wants to
activate it again. Which is correct? - Answers :His license is null and void.
A real estate broker has entered into a single agency relationship with the seller of a
three-bedroom, two-bath house. one of the agents in the broker's office has found an
investor wanting to hire the brokerage firm as a single agent. For the investor to be
shown this seller's house: - Answers :Both the seller and the investor must agree to
transition to transaction broker status.
What must be given to a seller who is about to enter into a fiduciary relationship with a
brokerage firm? - Answers :Single Agency Notice.
What should a sales associate do if his employing broker instructs him or her not to
show properties to people of a certain race? - Answers :Find a new employer.
Which form requires the signature of all parties? - Answers :Transition to Transaction
Broker.
In which instance must the agency disclosure forms developed by the state be used? -
Answers :Residential sales.
