GOLD COAST REAL ESTATE EXAM
QUESTIONS AND ANSWERS GRADED A+
2025/2026
How long must a broker maintain records/files - ANS 5 years (2 years after court proceeding)
Registered with DBPR, at least one room, records kept there, may be in broker's home if zoning
permits - ANS Broker office requirements
Deposit accompanying offer - ANS Earnest money
Commercial bank, title company having trust powers, credit union, or savings association
located in the state of FL - ANS Broker's escrow account or trust account
Max for broker sales escrow account - ANS $1,000
How long to fill out Irrevocable consent to service - ANS 60 days
Max for broker property management escrow account - ANS $5,000
Unathorized control or use of another person's personal funds - ANS Conversion
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
,Broker either cannot or will not produce money or property belonging to another when
required - ANS Failure to account
When must sales associates and broker associates deliver earnest money to broker -
ANS Immediately (no later than end of next business day)
When must broker deposit earnest money in escrow trust account - ANS Immediately (no
later than end of the 3rd business day)
With escrow dispute, how long does broker have to notify FREC - ANS 15 days
How long does broker have to institue an authorized settlment procedure with escrow dispute -
ANS 30 business days
Where does broker's sign need to be - ANS On or near the entrance to the office
Firm name, broker name, Lic. RE broker - ANS What's on a broker office sign
What must be on an advertisement - ANS Brokerage firm name (associate name not
required, but last name if used must be same as registered with DBPR)
Ad with only phone number and address - ANS Blind ad (illlegal in FL unless selling own
house)
Illegal practice of mixing the broker's personal funds with the escrow funds -
ANS Commingling
Rentals, can get refund within 30 days, __% if rental not obtained, __% if not current or is
inaccurate - ANS 75% not obtained, 100% not current
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
, When a broker fails to disclose information to a party, to whom to broker has such a duty, and
tht is material to his or her decision - ANS Concealment
When a broker operates in a reckless, careless and excessively negligent manner -
ANS Culpable negligence
The misstatement or omission of facts - ANS Misrepresentation
Selling (a charge) chances to induce someone to buy real estate - ANS Lotteries
Provides brokerage services for others and at least one partner must be a broker (none can be
sales associates) - ANS Real estate brokerage partnership
One general partner and at least one limited partner - ANS Limited partnership
Temporary business involving a single transaction or a predetermined number of transactions,
joint and several liability - ANS Joint venture (adventure)
Up to 1 year in jail and/or $1000 fine - ANS First degree misdemeanor, false advertising,
culpable negligence
Up to $500 and/or 60 days jail - ANS Second degree misdemeanor, rental information
violations
Up to $5000 fine and/or 5 years jail, acting as broker or sales associate without license -
ANS 3rd degree felony
Maximum administrative penalty (per offense) - ANS $5,000
Maximum suspension of license - ANS 10 years
3 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
QUESTIONS AND ANSWERS GRADED A+
2025/2026
How long must a broker maintain records/files - ANS 5 years (2 years after court proceeding)
Registered with DBPR, at least one room, records kept there, may be in broker's home if zoning
permits - ANS Broker office requirements
Deposit accompanying offer - ANS Earnest money
Commercial bank, title company having trust powers, credit union, or savings association
located in the state of FL - ANS Broker's escrow account or trust account
Max for broker sales escrow account - ANS $1,000
How long to fill out Irrevocable consent to service - ANS 60 days
Max for broker property management escrow account - ANS $5,000
Unathorized control or use of another person's personal funds - ANS Conversion
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
,Broker either cannot or will not produce money or property belonging to another when
required - ANS Failure to account
When must sales associates and broker associates deliver earnest money to broker -
ANS Immediately (no later than end of next business day)
When must broker deposit earnest money in escrow trust account - ANS Immediately (no
later than end of the 3rd business day)
With escrow dispute, how long does broker have to notify FREC - ANS 15 days
How long does broker have to institue an authorized settlment procedure with escrow dispute -
ANS 30 business days
Where does broker's sign need to be - ANS On or near the entrance to the office
Firm name, broker name, Lic. RE broker - ANS What's on a broker office sign
What must be on an advertisement - ANS Brokerage firm name (associate name not
required, but last name if used must be same as registered with DBPR)
Ad with only phone number and address - ANS Blind ad (illlegal in FL unless selling own
house)
Illegal practice of mixing the broker's personal funds with the escrow funds -
ANS Commingling
Rentals, can get refund within 30 days, __% if rental not obtained, __% if not current or is
inaccurate - ANS 75% not obtained, 100% not current
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
, When a broker fails to disclose information to a party, to whom to broker has such a duty, and
tht is material to his or her decision - ANS Concealment
When a broker operates in a reckless, careless and excessively negligent manner -
ANS Culpable negligence
The misstatement or omission of facts - ANS Misrepresentation
Selling (a charge) chances to induce someone to buy real estate - ANS Lotteries
Provides brokerage services for others and at least one partner must be a broker (none can be
sales associates) - ANS Real estate brokerage partnership
One general partner and at least one limited partner - ANS Limited partnership
Temporary business involving a single transaction or a predetermined number of transactions,
joint and several liability - ANS Joint venture (adventure)
Up to 1 year in jail and/or $1000 fine - ANS First degree misdemeanor, false advertising,
culpable negligence
Up to $500 and/or 60 days jail - ANS Second degree misdemeanor, rental information
violations
Up to $5000 fine and/or 5 years jail, acting as broker or sales associate without license -
ANS 3rd degree felony
Maximum administrative penalty (per offense) - ANS $5,000
Maximum suspension of license - ANS 10 years
3 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
