Chapter 3: License Law and Commission Rules Flashcards Preview

Florida Real Estate Sales Associate License > Chapter 3: License Law and Commission Rules > Flashcards

Flashcards in Chapter 3: License Law and Commission Rules Deck (35):
1

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

Florida Condominiums, Timeshares, and Mobile Homes

2

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

Real Estate

3

The DBPR offices are located in ______.

Tallahassee

4

DRE stands for _____.

Division of Real Estate

5

The DRE offices are located in _____.

Orlando

6

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

Governor
Senate

7

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

4

8

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

1

9

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

2

10

FREC members are appointed for a _____ term.

4 year

11

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

$50

12

FREC meets at least once every _____.

month

13

A quorum is a _____ of members.

majority

14

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

executive

15

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

quasi-legislative

16

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

quasi-judicial

17

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

DRE

18

Licensees may be fined up to _____ per offense.

$5,000

19

Licenses of licensees can be suspended up to ______ years.

10

20

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

true

21

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

initial issue

22

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

inactive

23

Renewals are effective when _____ by the Department.

received

24

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

voluntarily inactive

25

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

forever

26

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

true

27

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

involuntarily inactive

28

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

2 years

29

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

28-hour reactivation course
additional fee

30

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

inactive

31

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

can

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.

group

33

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

true

34

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

location
instructor

35

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

$3,000,000