License Law And Administration

Question 1

A group license would be obtained by sales associates registered under?

Answer 1

An owner developer

Question 2

How much per dime do FREC members receive

Answer 2

$50

Question 3

Florida licensee must notify how long after becoming non resident?

Answer 3

60 days

Question 4

T/F. You must notify the FREC 10 days after suspension of driver license

Answer 4

False

Question 5

A licensed agent who is permitted to practice in two states is known as

Answer 5

Reciprocity

Question 6

Are owner-developers licensed?

Answer 6

No

Question 7

Salaried condo managers are exempt for holding licenses if the lease agreements are how long?

Answer 7

LESS THAN one year

Question 8

Broker business sign must include what?

Answer 8

Name of broker & firm & “licensed broker”

Question 9

In the event of a disagreement about binder or earnest money, broker must?

Answer 9

Notify FREC

Question 10

Maximum fine levied against a licensee?

Answer 10

$5k per count

Question 11

Broker receives citation from FREC, his many days to dispute ?

Answer 11

30

Question 12

Do you need a license to sell lots in a mobile home/trailer park?

Answer 12

No

Question 13

Max payment from the recovery fund

Answer 13

$50k

Question 14

In order to qualify for payment out of the recovery fund you just?

Answer 14

Aye the broker and I again final judgement

Question 15

If a complaint is filed and the withdrawn, can the investigation be completed?

Answer 15

Yes

Question 16

Title must be deemed merchantable by whom?

Answer 16

Attorney

Question 17

If revoked, sales associates license becomes

Answer 17

Null and void

Question 18

An inactive license may remain inactive for how long ?

Answer 18

4 years

Question 19

Involuntary inactive license can be inactive for how long, once becoming inactive.

Answer 19

2 years

Question 20

If illegal acts are conducted out of state, can FREC investigate?

Answer 20

Yea

Question 21

Federal fair housing act does not protect against what kind of discrimination?

Answer 21

Age

Question 22

1988 amendments to Fair Housing Act bar discrimination to what ?

Answer 22

Handicap and familial status

Question 23

T/F. Brokers can NOT agree to charge a set fee for services in a local MLS

Answer 23

True

Question 24

How long does a buyer have to recind an offer on a condo and request deposit back?

Answer 24

3 days

Question 25

Refusal of sevices based on racial or ethnic composition is known as

Answer 25

Redlining

Question 26

Broker has conflicting demands between buyer and seller, should he return the deposit to buyer?

Answer 26

No

Question 27

What is considered residential property?

Answer 27

Ten acres or less of agricultural Four units or less

Question 28

A group license would be obtained by sales associates registered under an?..

Answer 28

Owner-developer

Question 29

How long do you have to notify the FREC if you become a non resident?

Answer 29

60 days

Question 30

Initial license period is how long?

Answer 30

18-24 months

Question 31

How many hours of education are required for a license that has become inactive

Answer 31

28

Question 32

Findings, conclusions and recommended penalty are submitted to the DBPR by who?

Answer 32

Administrative law judge

Question 33

A licensee may challenge a final order by filing an appeal and requesting a ?

Answer 33

Stay of enforcement

Question 34

A licensee who has been issued a notice of noncompliance must take action within how many days?

Answer 34

15

Question 35

Payments from the recovery fund for claims against one licensee are limited too?

Answer 35

$150k

Question 36

Advances on rent may not be held in what kind of account?

Answer 36

Bank accounts

Question 37

If a tenant is notified of landlord claim on the security deposit, how long does tenant have to file an objection

Answer 37

15 days after notification

Question 38

A sales associate changes broker and takes all files from brokers office before leaving. What kind of criminal act is this?

Answer 38

Larceny

Question 39

So you need a license to Auction Farmland ?

Answer 39

Yes

Question 40

If a sales associate Does not complete the 45 hour post license course, what happens to the status of their license ?

Answer 40

Null and Void

Question 41

What chapter is general legal practice and procedure of DBPR?

Answer 41

455

Question 42

First response to a minor violation by a licensee is?

Answer 42

Notice of non compliance

Question 43

FRECs powers to suspend or revoke a license are classified as?

Answer 43

Quasi-legislative

Question 44

Prospective tenant pays broker for rental information. If tenant does not find anything, how much money is he entitled to in return?

Answer 44

75%

Question 45

Taking a 3 hour core law course earns how many hours towards 14 hour continuing education requirement?

Answer 45

6 hours