Chapter 1-4 Important Dates and Time Periods to Remember Flashcards Preview

Real Estate State Test Prep > Chapter 1-4 Important Dates and Time Periods to Remember > Flashcards

Flashcards in Chapter 1-4 Important Dates and Time Periods to Remember Deck (19):
1

Time period for DBPR to receive a request to review the state license exam

21 days

2

Number of days to notify the DBPR if a licensee becomes a nonresident

60 days

3

Salaried managers of condominium or cooperative units who prepare rental agreements with a durtion up to how long are exempt from real estate license?

Salaried managers of condominium or cooperative units who prepare rental agreements with a duration  of up to 1 year

4

Managers of condominiums or cooperative who prepare agreements with a duration of how long must be licensed

lease agreement with a duration longer than 1 year

5

Time period after which the license application expires

2 years

6

Time period after which the prelicense course expires

2 years

7

Experience requirement for broker applicants obtained within preceeding 5 year period

2 years

8

Number of days to notify the FREC regarding a change of business address

10 days

9

Number of days a sales associate, broker associate, or an instructor has to notify the FREC of a change of employement

10 days

10

Grace period after discharge from military duty to renew license

6 months

11

Time period after which involuntary license becomes null and void

2 years

12

Period required to retain brokerage relationship disclosures for all transactions that result in a written contract

5 years

13

Time period for sales associates to turn funds over to broker

End of next time business day

14

Time period for broker to deposit funds into escrow account

End of third business day

15

Number of days to notify the FREC if the broker requested an EDO and escrow dispute is either settled or goes to court before the EDO is issued

10 business days

16

Number of days to replace broker of record

14 calendar days

17

Number of days to notify the FREC of conflicting demands or good faith doubt

15 business days

18

Number of days to institute settlement procedure after receiving conflicting demands

30 business days

19

Time period to preserve broker's business records 

5 years

(2 years after litigation, if longer than 5 years)