Gold Coast Real Estate Actual Exam
Questions With Reviewed 100%
Correct Detailed Answers
Guaranteed Pass!!
1. Special Agent - ANSWER is an agent that is given the authority to
perform specific tasks.
2. Subagent - ANSWER is an agent appointed by another agent with the
knowledge and consent of the principal.
3. Transaction Broker - ANSWER A broker who provides limited
representation to a buyer, a seller, or both in a real estate transaction, but
does not represent either in a fiduciary capacity or as a single agent.
4. Presenting offers - ANSWER A broker has a duty to transmit any and all
offers to the employer including oral offers or offers made without a binder
deposit.
5. single agent - ANSWER A broker who represents either the buyer or the
seller (but not both) and has a fiduciary relationship with the party
represented.
,6. Single agency relationship - ANSWER The employer becomes the
principal, who authorizes the broker as an agent to perform certain services
on his behalf. A sales/broker associate is registered with the broker as his
agent and is never an agent of the broker's principal.
7. Listing Contract - ANSWER -A contract in which a property owner
employs a real estate broker to market the property described in the
contract.
8. -entitled to compensation
9. Referral Fee - ANSWER Part of a commission or fee shared with a broker
who sends a client or customer to an agent.
10.Principal Office Requirements - ANSWER - each active broker must be
registered with the department (DBPR)
- office must have one enclosed room for negotiations and closing
11.Branch Office Requirements - ANSWER If conducting business from
more than one office each additional office and office location must be
registered individually as a branch office with the appropriate fees paid.
If broker closes a branch office, the registration of the branch office cannot be
transferred
If closed, then later reopened in the Same Location during the Same Two Year
License Period, a reissue of the license may be requested, without the need to
pay an addtl fee
, If Branch office is moved, a new application for registration and payment of the
proper fee are required for the new location.
12.Advertising - ANSWER must include name or trade name of the
brokerage firm
13.internet advertising - ANSWER brokerage firm must be placed above the
point of contact
POC: broker mailing address, phone number, fax number, email
14.earnest money deposit - ANSWER -when deposit is made sales contract
needs to have name, address, and telephone of title company or attorney it
was made with
-within 10 business day broker must make receipt or verification that deposit
was made
15.escrow account - ANSWER - must be held in a commercial bank, title
company
-cannot be held in a stock or bond house
-broker is not allowed to deposit the personal funds of any person with any
funds being held in an escrow account
16.Depositing escrow funds - ANSWER - earnest money deposit should be
given to broker the next business day following receipt
Questions With Reviewed 100%
Correct Detailed Answers
Guaranteed Pass!!
1. Special Agent - ANSWER is an agent that is given the authority to
perform specific tasks.
2. Subagent - ANSWER is an agent appointed by another agent with the
knowledge and consent of the principal.
3. Transaction Broker - ANSWER A broker who provides limited
representation to a buyer, a seller, or both in a real estate transaction, but
does not represent either in a fiduciary capacity or as a single agent.
4. Presenting offers - ANSWER A broker has a duty to transmit any and all
offers to the employer including oral offers or offers made without a binder
deposit.
5. single agent - ANSWER A broker who represents either the buyer or the
seller (but not both) and has a fiduciary relationship with the party
represented.
,6. Single agency relationship - ANSWER The employer becomes the
principal, who authorizes the broker as an agent to perform certain services
on his behalf. A sales/broker associate is registered with the broker as his
agent and is never an agent of the broker's principal.
7. Listing Contract - ANSWER -A contract in which a property owner
employs a real estate broker to market the property described in the
contract.
8. -entitled to compensation
9. Referral Fee - ANSWER Part of a commission or fee shared with a broker
who sends a client or customer to an agent.
10.Principal Office Requirements - ANSWER - each active broker must be
registered with the department (DBPR)
- office must have one enclosed room for negotiations and closing
11.Branch Office Requirements - ANSWER If conducting business from
more than one office each additional office and office location must be
registered individually as a branch office with the appropriate fees paid.
If broker closes a branch office, the registration of the branch office cannot be
transferred
If closed, then later reopened in the Same Location during the Same Two Year
License Period, a reissue of the license may be requested, without the need to
pay an addtl fee
, If Branch office is moved, a new application for registration and payment of the
proper fee are required for the new location.
12.Advertising - ANSWER must include name or trade name of the
brokerage firm
13.internet advertising - ANSWER brokerage firm must be placed above the
point of contact
POC: broker mailing address, phone number, fax number, email
14.earnest money deposit - ANSWER -when deposit is made sales contract
needs to have name, address, and telephone of title company or attorney it
was made with
-within 10 business day broker must make receipt or verification that deposit
was made
15.escrow account - ANSWER - must be held in a commercial bank, title
company
-cannot be held in a stock or bond house
-broker is not allowed to deposit the personal funds of any person with any
funds being held in an escrow account
16.Depositing escrow funds - ANSWER - earnest money deposit should be
given to broker the next business day following receipt
