Chapter 7: Federal & State Laws Pertaining to Real Estate (MC) Flashcards Preview

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Flashcards in Chapter 7: Federal & State Laws Pertaining to Real Estate (MC) Deck (14):
1

To be enforceable, a lease longer than 1 year

a. can be oral if witnessed by two people.
b. does not have to conform to the Statute of Frauds.
c. must be in writing, signed by the landlord and witnessed by two persons.
d. does not have to be witnessed.

c. must be in writing, signed by the landlord and witnessed by two persons.

2

The components of a valid lease include the

a. names and signatures of lessor and lessee, legally competent parties, legal description, consideration and definite lease terms.
b. signature of lessor, seal, legal capacity, consideration and term.
c. names of lessor and lessee, seal of lessor, consideration and capacity.
d. signature of lessee, terms, property description and consideration.

a. names and signatures of lessor and lessee, legally competent parties, legal description, consideration and definite lease terms.

3

Under the Florida Landlord and Tenant Act a landlord is NOT required to

a. bargain in good faith.
b. provide maintenance sufficient to comply with code.
c. notify tenants within 30 days of the manner in which security deposits and advance rents are being held.
d. deposit advance rent and security deposits in an interest-bearing account.

d. deposit advance rent and security deposits in an interest-bearing account.

4

If a landlord requires a security deposit, the landlord must

a. deposit the funds in compliance with Chapter 475, Florida statutes.
b. notify the tenant of the location of the funds within 20 days of receiving the funds.
c. pay interest at the rate of 5% per year, with disbursements at least once each year.
d. return the funds within 15 days after the tenant vacates the premise or give notice of the intention to impose a claim against the security deposit by certified mail.

d. return the funds within 15 days after the tenant vacates the premise or give notice of the intention to impose a claim against the security deposit by certified mail.

5

What term is used to describe a situation in which a real estate licensee tells a customer an advertised property is NOT available for sale when is fact it is?

a. steering
b. restricting
c. conspiring
d. blockbusting

a. steering

6

A broker that induces owners to list or sell on the basis the neighborhood is deteriorating due to minority influences is guilty of

a. steering.
b. channeling.
c. conspiring.
d. blockbusting.

d. blockbusting.

7

Protected classes under the 1988 Amendment to the 1968 Fair Housing Act do NOT include

a. people with physical or mental impairments that do not limit major life activities.
b. individuals with drug addiction problems.
c. persons with acquired immune deficiency syndrome (AIDS) and recovering alcoholics.
d. women who are pregnant and people with children under the age of 18.

a. people with physical or mental impairments that do not limit major life activities.

8

A property owner is registered on both the state and federal "do not call" lists. Solicitation calls to this owner by a licensee

a. may only be made between 9am and 8pm
b. may not be made when representing a buyer.
c. could result in a fine of up to $15,000.
d. are not permitted when attempting to obtain a listing.

d. are not permitted when attempting to obtain a listing.

9

Mary and Louise open a beauty shop in a regional mall. Their lease requires a portion of business income to be paid in addition to the period rent. What type of lease do they have?

a. flat
b. step-up
c. percentage
d. graduated

c. percentage

10

A 5-year lease of a 10,000-square-foot warehouse prohibits assignment. After 2 years the tenant is unable to continue with the full rent payments and arranges with another tenant to take over one-half of the space and pay one-half of the rent for the remaining term. This arrangement is

a. a violation of the terms of the lease.
b. a sublease.
c. in violation of Statute 83.
d. illegal.

b. a sublease.

11

The Interstate Uniform Land Sales Practices Act requires a developer to file a statement with the Office of Interstate Land Sales Registration when the project consists of how many lots (or more)?

a. 25
b. 50
c. 75
d. 100

d. 100

12

Discrimination based on religion is prohibited by the

a. Civil Rights Act of 1866.
b. Civil Rights Act of 1968.
c. Civil Rights Act of 1964.
d. Fair Housing Amendments of 1988.

b. Civil Rights Act of 1968.

13

The maximum fine that may be imposed for a first time violation of the Florida Fair Housing Act is

a. $5,000.
b. $10,000.
c. $25,000.
d. $50,000.

b. $10,000.

14

What may a real estate licensee do with respect to model residential lease forms approved for use by the Florida Supreme Court?

a. fill in the blanks
b. prepare an addendum
c. modify language to conform to the agreement of the landlord and tenant
d. interpret a clause in the document in answer to a question

a. fill in the blanks

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