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48 Cards in this Set
- Front
- Back
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A Developer aquires a tract of land that he divides into 25 home sites. Prior to marketing the home sites, the developer must submit the subdivision plat to the |
local government planning agency |
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The term follow-up refers to |
what a sales associate does for buyeres and selllers after the sale. |
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Even though certain exceptions apply, an active real estate licensee is legally entitles to appraise real property for compensation concerning a nonfederally related transaction... |
As long as she does not represent herself as a state certified or licensed appraiser and complies with the USPAP |
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The field of property management has experienced growth and specialization primarily because of |
the increase in absentee owners |
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Real estate licensees must comply with Uniform Standards of Professional Appraisal Practices (USPAPA) when conducting which value estimates |
Appraisals |
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Appraisers are paid a fee because.. |
to accept compensation based on the appraised value is a conflict of interest |
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When a developer makes lots available for custom building in a newly developed subdivision, the overall purpose of restrictive covenants is to ensure that custom built homes will |
not decrease the value of neighboring properties |
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The real estate activity that is devoted to leasing, manageing, marketing, and overall maintenance of property for others is referred to as |
property management
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Which type of constructions involves building to a buyer specifications |
custom homes
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the term dedication as it applied to development and construction refers to |
a gift of land by the owner to local government for a public use |
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what type of licensee is required to sell or lease business opportunities for another person |
Real estate license |
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residential real estate is defined in Chapter 475 as |
vacant land zoned for four or fewer residential units |
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The real estate profession requires |
expertiese in all types of real estate |
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Selecting a limited geographical area in which a real estate professional develops special expertise is referrred to as |
farming |
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A broker charges a prospective seller for $50 for a comparative market analysis (CMA). This statement applies... |
This is permissible, provided the broker does not represent the cma as an appraisal |
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Ch. 2 A licensed sales associate may operate |
for the broker registered as the sales associate's employer |
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Ch. 2 A sales associate appplicant NOT required to comply with which requirement |
be a bona fide Florida resident
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Ch. 2 Which person does NOT meet the experience requirements to obtain a Florida Brokers's license |
An applicant who has held an active Floridsa sales associate license during two of the preceeeding 5 years while employed by an owner developer |
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which statement does NOT describe the intenet of the Florida Legislature concerning regulation of professional and licensed occupations to protect the public? |
Whenever deemed appropriate by the Legislature |
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Ch. 2 A sales associate applicant is NOT required to disclose which information on the license application |
Proof of US citizenship |
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Ch. 2 A sales associate sells real estate for a real estate brokerage company. He also works as a sales associate for another brokerage company |
The sales associate is in violation of ch 475 |
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Ch. 2 A woman helped her father sell some property he owned. The daughter is not a real estate licensee. Her father was frateful for his daughter's assistance but the daughter declined compensation for assisting her father. What is a true statement? |
This was a legal arrangement because the daughter did not receive compensation for preforming real estate services |
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Ch. 2 Which event may cause the FREC to refuse to certify an individual as qualified for licensure |
Was convicted for fraud in an insurance scam |
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Ch. 2 A woman received her Florida sales associate's license last year. Which requirement must she complete to become a licensed real estate broker? |
Successfully complete the 45-hour post-licensing course |
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Ch. 2 A man has a North Carolina broker's license, but he is not licensed in Florida. H sells a parcel of land he owns in Florida. Assuming all else is proper, this is a legal transaction because |
Florida law exempts from licensure individual owners selling their own real property |
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Ch 3. The FREC memebers are |
A mix of real estate practitioners and consumer members and are accountable to the govener for proper preformance. Also they depend on the DRE for their administrative assistance |
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Ch 3. Members of the FREC are appointed by the |
govenor and confirmed by the state senate |
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Ch 3. The commissions purpose is to regulate |
Brokers, Broker associates and Sales associates. Also, Real estate schools and teachers and real estate brokerage firms |
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Ch 3 .Real estate licensees on active duty with the U S army are required to renew their licenses |
Within 6 months after discharge |
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Ch 3. The term of office for each Commision member is |
4 years |
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Ch 3. the members of the Comission receive |
Ch 3. $50 a day when on official business plus expenses |
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Ch 3. A broker associate may hold ______ license |
more than 1 |
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Ch 3. The Comission is empowered to... |
make terminations of violations and impose fines. The also have their official seal |
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What power can the DBPR NOT do |
Appoint FREC members |
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Ch 3. A sales associate moved from one city to another, the sales associate must... |
Notify the DBPR of her change in current mailing address within 10 days of change |
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Ch 3. A sales associate is employed by a broker. the broker's license is suspended. The action causes the sales associates licensed to be |
placed in involuntary inactive status |
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Ch 3. When an active broker changes a business address and the broker notifies the FREC within the required 10 days, the licenses of the sales asssociates |
remain in force |
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Ch 3. If an active licensee fails to renew her 3rd two year license before the expiration date on the license, the license will |
revert automatically to involuntary inactive status at the end of the license period |
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Ch 3. An involuntary inactive license will automatically become void without further action by the FREC or the DBPR after ___years |
2 |
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Ch 3. An owner developer owns several properties with different names but all are business entities closely connected and controlled by the owner developer may legally obtain a ____ license |
GROUP |
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Ch 3. A broker moves his real estate office. He forgets to notify the DBPR. His license will... |
cease to be in force |
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Ch 4. Which disclosure notice must be given before a single agent can change to a transaction broker? |
Consent to transition to a transaction broker |
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The brokerage relationship disclosure requirements in CH 475 apply to |
the sale of a condo |
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Ch 4. A real estate broker who works in a limited capacity for both the buyer and seller in the same transaction is a |
transaction broker |
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Ch 4. A licensee of a realty office bust give the no brokerage relationship notice to |
FSBO seller before showing the FSBO home to a buyer customer from the realty office |
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A transaction brokers duties include. |
Limited Confidentiality to use skill, care, and diligence disclose all known facts that materially affect the value of residential real property that arent noticable to the buyer |
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The brokerage relationship is terminated under this circumstance... |
The broker agent renounces the brokerage relationship |
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In the common public relationship |
a |
