Chapter 3: License Law and Commission Rules

Question 1

Condo rentals in Florida are regulated by the Division of _____ within the DBPR.

Answer 1

Florida Condominiums, Timeshares, and Mobile Homes

Question 2

Florida residential home sales are regulated by the Division of _____ within the DBPR.

Answer 2

Real Estate

Question 3

The DBPR offices are located in ______.

Answer 3

Tallahassee

Question 4

DRE stands for _____.

Answer 4

Division of Real Estate

Question 5

The DRE offices are located in _____.

Answer 5

Orlando

Question 6

The seven members of FREC are appointed by the _____ and confirmed by the _____.

Answer 6

Governor

Senate

Question 7

_____ member(s) of the FREC must be actively licensed real estate brokers for at least 5 years.

Answer 7

4

Question 8

_____ member(s) of the FREC may be an actively licensed broker or sales associate.

Answer 8

1

Question 9

_____ member(s) of the FREC must be lay.

Answer 9

2

Question 10

FREC members are appointed for a _____ term.

Answer 10

4 year

Question 11

FREC members receive an allowance of _____ per day plus expenses.

Answer 11

$50

Question 12

FREC meets at least once every _____.

Answer 12

month

Question 13

A quorum is a _____ of members.

Answer 13

majority

Question 14

The power of the FREC to investigate complaints against licensees is an example of their _____ powers.

Answer 14

executive

Question 15

The powers of the FREC to make and pass rules regarding licensees is an example of their _____ powers.

Answer 15

quasi-legislative

Question 16

The power of the FREC to deny applications, reprimand, or suspend licensees is an example of their _____ powers.

Answer 16

quasi-judicial

Question 17

Since the FREC has no staff, ministerial duties are performed by the _____.

Answer 17

DRE

Question 18

Licensees may be fined up to _____ per offense.

Answer 18

$5,000

Question 19

Licenses of licensees can be suspended up to ______ years.

Answer 19

10

Question 20

true/false: The Commission is required to report any violation of law to the State Attorney General’s office for possible prosecution.

Answer 20

true

Question 21

An applicant’s _____ is the first license recieved in the category in which they’re qualified.

Answer 21

initial issue

Question 22

Upon passing the exam, an applicant receives _____ license status.

Answer 22

inactive

Question 23

Renewals are effective when _____ by the Department.

Answer 23

received

Question 24

A licensee who choses not to be employed by a broker will be _____ _____ .

Answer 24

voluntarily inactive

Question 25

A voluntarily inactive license status can be maintained for a period of _____.

Answer 25

forever

Question 26

true/false: An inactive licensee must maintain license fees and CE courses.

Answer 26

true

Question 27

Licensees who do not request renewal, do not pay necessary fees, or do not maintain CE requirements will automatically be placed in _____ status.

Answer 27

involuntarily inactive

Question 28

Involuntarily inactive licensees can maintain that license status for no more than _____.

Answer 28

2 years

Question 29

Months 13-24 after becoming involutarily inactive require a _____ and _____ before becoming active again.

Answer 29

28-hour reactivation course | additional fee

Question 30

When a broker's license is suspended, all other broker associates and sales associates licenses underneath them become _____.

Answer 30

inactive

Question 31

Licensees _____ turn in their license if they no longer want to practice real estate.

Answer 31

can

Question 32

One umbrella corporation has many smaller companies. A sales associate is registered to sell properties for all of those companies. This is called a _____ license.

Answer 32

group

Question 33

true/false: Brokers can be issued multiple licenses if they are broker of record for multiple offices.

Answer 33

true

Question 34

Real estate schools must have permits for each _____ and each _____.

Answer 34

location | instructor

Question 35

The FREC Education and Research Foundation was founded in 1986 by a transfer of _____ from the Real Estate Trust Fund.

Answer 35

$3,000,000