Chapter 2

Question 1

Broker

Answer 1

An individual or business entity licensed by the DBPR to perform services of real estate for others for compesation

Question 2

Broker Associate

Answer 2

An individual who is qualified to be issued a broker’s license but operates as a sales associate in the employ of another

Question 3

Caveat Emptor

Answer 3

Let the buyer beware

Question 4

Compensation

Answer 4

Anything of value or a valuable consideration, directly or indirectly paid, promised, or expected to be paid or received

Question 5

License

Answer 5

A privilege granted by the state to operate as a real estate broker, broker associate, or sales associate; a type of time-share interest

Question 6

Moral Turpitude

Answer 6

An act of corruption, vileness, or moral depravity; a disgraceful action or deed

Question 7

Mutual Recognition Agreements

Answer 7

A transaction agreement between Florida and another state that provides for the two states to recognize each other’s real estate license education.

Question 8

Nolo Contendere

Answer 8

A pleading of no contest by a defendant; a plea in a criminal action not admitting guilt but subjecting the defendant to punishment as if it were a guilty plea

Question 9

Owner-developer

Answer 9

An unlicensed entity that sells, exchanges, or leases its own property

Question 10

Prima Favie Evidence

Answer 10

Requiring no further proof; acceptable on the face of

Question 11

Real Estate Services

Answer 11

Real Estate activities involving compensation for performing the activities for another.
A BAR SALE
Advertise Real Estate Service,
Buy, Appraise, Rent or Provide Rental information or lists
Sell, Auction, Lease, Exchange

Question 12

Reciprocity

Answer 12

The practice of mutual exchanges privileges. Some states have reciprocal arrangements for recognizing and granting licenses to licensed real estate professionals from other state

Question 13

Registration

Answer 13

Authorization by the state to place an applicant on the register (record) of officially recognized individuals and business

Question 14

Resident

Answer 14

A person who has resided in Florida continuously for a period of 4 calendar months or more within the preceding ear, regardless of whether the person resided in a recreational vehicle, hotel, rental unit, or other temporary or permanent location.

Question 15

Sales Associate

Answer 15

A licensed individual who, for compensation, is employed by a broker or owner-developer

Question 16

Withhold Adjudication

Answer 16

When the court determines that a defendant is not likely to again engage in a criminal act and that the ends of justice and the welfare of society do not require the defendant suffer the penalty imposed by law, the court may withhold adjudication of guilty, stay (stop) the imposition of the sentence, and place the defendant on probation