Section 2 Real Estate Law and Licensure Qualification Flashcards Preview

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Flashcards in Section 2 Real Estate Law and Licensure Qualification Deck (20)
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1

True or false, to be considered a Florida resident, a person must have resided in Florida continuously for a period of six calendar months or more within the preceding year.

False

Continuously for a period of four months

2

True or false, individuals applying for the sales associate or broker license who also have a 4-year college degree in real estate are exempt from the pre-license courses I and II, the 45-hour sales associate post license and the 60 our broker post license course.

True

3

True or false, broker associates act as an intermediary between buyers and sellers and tenants and landlords.

False

It is the broker that acts as an intermediary. Sales associates and broker associates work for the broker.

4

True or false, Florida legislator regulates professions when the unregulated practice can harm the public, the public is not adequately protected by other laws, and less restrictive means of regulation or not available.

True

5

True or false, everyone registered with the DBPR holds an active or inactive license that is regulated per Florida statutes 455.

False

There are situations that do not require a license however requires registration. For example, real estate brokerages that are corporations must register corporate officers that are not also real estate licensees.

6

True or false, Florida administrative code 61J2 established the Florida real estate commission rules.

True

7

True or false, all violations including minor traffic violations must be reported when applying for a Florida real estate license.

False

Traffic violations need not be reported.

8

True or false, the requirement of holding an active real estate license for two years out of the prior five years in order to qualify to sit for a broker exam need not have been as a Florida real estate licensee.

True

9

True or false, a sales associate qualifies for licensure as a broker, however, chooses to work under the direction of a broker.

False

Broker associate

10

True or false, the initial licensing fee, the initial application fee, and the initial unlicensed activity fee can be waived for military veterans and their spouses as long as the application is submitted within 60 months after them being honorably discharged.

True

11

Which one of the following activities do not require a license as regulated under Florida statute 475?

1. Managing property leases for single-family homes
2. Negotiating the loan terms between a buyer and the bank
3. Appraising the property
4. Advertising property for sale

# 2, negotiating the loan terms between a buyer and the bank

12

To satisfy the 14 hours of continuing education, after the initial renewal, a licensee may:

1. Take an approved education course that combines three hours of law with 11 hours of real estate specialty
2. Take three hours of Core law during each year of the renewal period plus take eight hours of an approved specialty course
3. Attend a legal agenda session of the Florida real estate commission – FREC plus take 11 hours of real estate specialty
4. Any of the above

#4, any of the above

13

Meika has held a Georgia real estate license for one year and has lived in Florida for six months. Meika is able to obtain a Florida real estate license by:

1. Taking a 40 question mutual recognition Florida real estate law exam
2. Taking a 63 hour sales associate pre-license course and passing the 100 question sales associate state exam
3. Applying for a new license under the rules of reciprocity
4. Obtain a temporary license for six months

# 2, taking a 63 our sales associate pre-license course and passing the 100 question sales associate state exam

14

Geraldine was denied a license 20 years ago in California to work as a nurse. Which of the following is a true statement regarding Geraldine:

1. Geraldine must disclose the denial when applying to the Florida DBPR for a Florida real estate license
2. Geraldine does not have to disclose the denial since it was more than 10 years ago
3. Geraldine does not have to disclose the denial since it was not in Florida
4. Geraldine does not have to disclose the denial since it did not involve a real estate related license

# 1, Geraldine must disclose the denial when applying to the Florida DBPR for a Florida real estate license

15

To qualify for a Florida real estate license, the applicant must:

1. Be 18 years old or older and a US citizen
2. Be 21 years old or older and a US citizen
3. Be 18 years old or older and have a Social Security number
4. Be 21 years old or older and have a Social Security number

# 3, be 18 years old or older and have a Social Security number

16

If a sales associate fails to take the 45 hour post license course before the first renewal. His or her license will:

1. Cease to be in force
2. No longer have a valid license and would have to start over
3. Be inactive
4. Be re-activated with a 28 hour course

#2, no longer have a valid license and would have to start over

17


Chapter 120 regulates:

1. The procedural process of all professions and occupations
2. The administrative rules of FREC
3. The executive branch of Florida government
4. Real estate

#1, The procedural process of all professions and occupations

18

Once an applicant has been approved to take the pre-license real estate exam, the licensee has how long to successfully passed the exam?

1. Up to 12 months
2. Up to 18 months
3. Up to 24 months
4. Up to 36 months

#3, up to 24 months

19

The following person is exempt from having a real estate license:

1. Helen specializing in the sale of time shares
2. Joy selling a retail store
3. Kim who gets paid a salary by an owner developer
4. Waldo showing single-family homes for sale

#3, Kim who gets paid a salary by an owner developer

20

A Florida attorney who completed all Florida real estate sales associate license and education requirements and held the license for two years can obtain a brokers license by completing which of the following requirements:

1. The 72 hour broker course and the state broker exam but will not have to take any post broker licensing courses

2. The 72 hour broker course, the state broker exam, and post broker licensing 60 hour courses

3. The 72 hour broker course, the state broker exam, post broker licensing 60 hour courses and continuing education

4. Exempt from all pre-and post licensing courses but required to pass the state broker exam and continuing education courses

# 2, The 72 hour broker course, the state broker exam, and post broker licensing 60 hour courses