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Gold Coast School Real Estate 88
Questions Ch.1-19|2025/
All of the following statements about the Consent to Transition to transaction broker Notice are accurate, EXCEPT: A. It requires written consent by both parties in a real estate transaction B. It changes the broker in a real estate transaction from a single agent to a transaction broker C. It is the only brokerage relationship form that must be signed D. It allows a single agent with fiduciary duties to represent both the buyer and the seller in a real estate transaction - ā ā D. It allows a single agent with fiduciary duties to represent both the buyer and the seller in a real estate transaction For residential real estate transactions, which types of authorized business relationships must be specified in written disclosures? A. Single agent, transaction broker, and no brokerage (non representation) B. Single agent and no brokerage (non representation) C. Single agent and transaction broker
D. Transaction broker and no brokerage (non representation) - ā ā B. Single agent and no brokerage (non representation) For what reason might your application to take the state licensing exam be denied without prejudice?
A. I forget to indicate on my completed application that i have previously had a real estate license revoked in another state B. I fail to mention a criminal conviction on my completed application C.I forget to sign my completed application D. I wrongly state on my completed application that I hold a 4 year degree in real estate - ā ā C.I forget to sign my completed application All of the following persons are eligible to apply for a Florida real estate broker license, EXCEPT: A. A sales associate who has been employed by a licensed broker for at least 24 months within the preceding 5 years B. A salaried employee of a governmental agency who has performed services similar to those that real estate licensees perform for at least 24 months within the preceding 5 years C. An investigator for the Department who has at least 24 months experience dealing with real estate license violations D. A sales associate who has been employed by an owner- developer for at least 24 months within the preceding 5 years - ā ā D. A sales associate who has been employed by an owner- developer for at least 24 months within the preceding 5 years All of the following are possible options if you fail the pre-license and end-of-course final exam, EXCEPT: A. Within 30 days of failing the final exam, I may take an alternate final exam without having to take the entire course again
A. My license is active, i May begin providing real estate services immediately on my own B. My license is inactive, to activate my license, I must pay a fee and register with the Department C. My license is inactive, to activate my license, i must obtain employment with an active broker or owner-developer and register with the Department D. My license is active, I may begin providing real estate services immediately; however, I must obtain employment within 30 days with an active broker - ā ā C. My license is inactive, to activate my license, i must obtain employment with an active broker or owner-developer and register with the Department
- The real estate market is local in nature what does that mean?
- ā ā Information about real estate can best be found through local sources, which makes the real estate market local in nature
- You would expect a real estate licensee to perform all of the following activities, EXCEPT: A. Providing expert knowledge about construction methods and materials B. Providing expert knowledge to members of the public in the performance of specified services of real estate C. Following up with customers and clients after a transaction has been completed D. Acting as an intermediary, or agent, between two or more people in the negotiation of the sale, purchase, or lease of real
estate - ā ā A. Providing expert knowledge about construction methods and materials
- A real estate licensee is expected to have expert knowledge in what three areas? A. Valuation, marketing, and property transfer B. Mortgages, property taxes, and homeowners' insurance policies C. Residential real estate, commercial real estate, and surveys D. Area schools, local crime rates, and proximity to potential employers - ā ā A. Valuation, marketing, and property transfer
- What is a comparative market analysis? A. A comparison of assessed values in the same neighborhood B. A value estimate based on recent sales of identical properties in the same neighborhood C. A value estimate based in recent sales of similar properties in the same neighborhood D. An appraisal of the value of a property - ā ā C. A value estimate based in recent sales of similar properties in the same neighborhood
- Which type of valuation must be performed in accordance with the Uniform Standards of Professional Appraisal Practice (USPAP) A. Appraisal in a federally-related transaction B. Broker price opinion (BPO)
B. A brokerage firm must be brought in to handle the transaction C. The real estate licensee must have a securities license D. The real estate licensee must have experience as a stockbroker - ā ā C. The real estate licensee must have a securities license Which real estate professional is expected to have the greatest level of knowledge and experience? - ā ā a real estate counselor all of the following are responsibilities of a property manager, EXCEPT A. Handling the payment of taxes, insurance, and operating expenses for the property B. Evaluating the investment value of the property C. Locating tenants, collecting rents, maintaining records, and scheduling maintenance D. Protecting the owner's investment and maximizing the profitability of the investment - ā ā B. Evaluating the investment value of the property According to F.S. 475, all of the following transactions are considered residential transactions, EXCEPT: A. A lease on a unit in a duplex, with an option to purchase the unit B. The sale of a 10-unit apartment building C. The sale of an eight-acre strawberry farm
D. The sale of a lot that is zoned for a single-family home - ā ā B. The sale of a 10-unit apartment building Which of the following best defines appraising? A. The process of determining the amount of equity in real property B. The process of establishing the asking price of real property C. The process of establishing the firm value of real property D. The process of developing an opinion of the value of real property - ā ā D. The process of developing an opinion of the value of real property On what is an appraisal fee based? A. An average of the fees charged for appraisals of similar properties B. The time, effort, and expense involved in conducting the appraisal C. The value of the property D. The amount of time the appraiser spends, according to the prevailing hourly rate in the area - ā ā B. The time, effort, and expense involved in conducting the appraisal Which statement about insurance is accurate? A. Most homeowner's insurance policies include home warranty coverage B.
"The department" refers to which government entity? - ā ā The department of business and professional regulation (DBPR) What is "the division"? - ā ā The Division of real estate (DRE)
All of the following persons require a Florida real estate license, EXCEPT: A. A person who negotiates the sale of a house in Delray Beach, Florida on behalf of a friend who inherited the house from his deceased mother, without receiving any compensation B. A person who lives and. Works in Atlanta, Georgia, who negotiates the sale of a relatives auto dealing business in Palm Beach County, and receives a flat fee for the service C. A person who is paid to advise a real estate investor about the relative merits of two Parcels of land in Orlando, FL, for future development D. A person who is paid a salary and is employed by a developer to sell timeshare units in a new condominium development in Naples, Florida - ā ā A. A person who negotiates the sale of a house in Delray Beach, Florida on behalf of a friend who inherited the house from his deceased mother, without receiving any compensation Which person requires a Florida real estate license? A. A person who helps a client locate and purchase a facility in Jacksonville, Florida, for the client's veterinary practice, and receives 3% of the purchase price for their services
B. A person who lists for sale a lakefront home on Lake Tuscaloosa, in Alabama, for a longtime client and receives 5% of the selling price for their services C. A person who negotiates the sale of a 20-acre parcel of land that they own in Ocala, Florida D. A person who lives in Tallahassee who helps a friend purchase a duplex in Pensacola, Florida as an investment property but does not receive any compensation for their help - ā ā A. A person who helps a client locate and purchase a facility in Jacksonville, Florida, for the client's veterinary practice, and receives 3% of the purchase price for their services Which of the following most accurately defines "compensation" with respect to real estate licensees? A. Anything or any service of value that is paid, received, or expected to be paid or received in exchange for a performed service B. A flat fee or percentage commission that is paid in exchange for a performed service C. Money that is paid, received, or expected to be paid or received in exchange for a performed service D. Money that is paid in exchange for a performed service - ā ā A. Anything or any service of value that is paid, received, or expected to be paid or received in exchange for a performed service All of the following are services that require a current, valid Florida real estate license, EXCEPT:
In addition to taking and passing this pre-license course and the state exam, what else must you do to obtain an ACTIVE sales associate license and PRACTICE real estate? A. Complete the post-license education requirements B. Wait for confirmation from the Department that you have passed the state exam C. Pay an activation fee to the Department D. Obtain employment with a broker or owner-developer and file employment information with the Department - ā ā D. Obtain employment with a broker or owner-developer and file employment information with the Department After you renew your license for the first time, how frequently must you continue to renew it? A. Every 2 years, but every 4 years if i have a four-year degree in real estate B. Every three years C. Every four years
D. Every two years - ā ā D. Every two years According to F.A.C. 61J2-26.002, which of the following persons would qualify for Florida residency? A. A person who lives in NYC and has stayed in The Breakers in Palm Beach, Florida for three continuous months in the past winter and in various other hotels in Palm Beach for a total of two months at other times in the past year
B. A person who owns homes in Ocala and Melbourne Beach, Florida and has lived in his primary residency in Georgia for 9 oof the past 12 months C. A person from Texas who is living in an apartment in Pensacola, Florida on a 3 month temporary work assignment D. A person who spends summers in Michigan and lives in a motor home in an RV park in Vero Beach, Florida from November 1 through March 31 each year - ā ā D. A person who spends summers in Michigan and lives in a motor home in an RV park in Vero Beach, Florida from November 1 through March 31 each year What is mutual recognition? A. An agreement between Florida and certain other states that allows individuals licensed in that state to obtain a Florida license without taking any pre-licensing or exams B. An agreement between Florida and certain other states that allows individuals licensed in that state to practice real estate in Florida without a Florida license C. An agreement between Florida and certain other states that allows individuals licensed in that state to bypass Florida pre- licensing requirements to obtain a Florida license D. An agreement between Florida and certain other states that allows Florida licenses to practice real estate in that state without an additional license - ā ā C. An agreement between Florida and certain other states that allows individuals licensed in that state to bypass Florida pre-licensing requirements to obtain a Florida license
All of the following statements about the Secretary of the Department are accurate, EXCEPT: A. The Secretary is responsible for activities related to the Department B. The Secretary is appointed by the governor C. The Secretary is subject to confirmation by the Florida Senate D. The Secretary is limited to one six-year term - ā ā D. The Secretary is limited to one six-year term What is the role of the Division of Real Estate (DRE or the Division? A. To protect the public by developing federal rules and regulations that affect the real estate profession B. To protect real estate brokers from prosecution C. To protect the public by regulating real estate and appraisal licensees through education and compliance D. To protect real estate licensees from litigation - ā ā C. To protect the public by regulating real estate and appraisal licensees through education and compliance Which of the following statements about F.S. 475, Part 1, is accurate? A. It defines the Florida Real Estate Appraisal board and is supplemented by rules in F.A.C 61J B. It defines the FREC and is supplemented by rules in F.A.C. 61J
C. It addresses real estate brokers, sales associates, and schools and is supplemented by rules in F.A.C 61J D. It addresses real estate appraisers and is supplemented by rules in F.A.C. 61J1 - ā ā C. It addresses real estate brokers, sales associates, and schools and is supplemented by rules in F.A.C 61J What is the administrative fine for violations of rules and laws under the administration of the Department? A. A minimum of $5,000 per offense B. A maximum of $1000 per offense, not to exceed $5, C. A maximum total of $5, D. A maximum of $5,000 per offense - ā ā D. A maximum of $5,000 per offense How does the Department cover the cost of investigating and prosecuting unlicensed activity? A. Through property taxes B. Through the state's general fund C. Through a fee that is charged at the closing of every real estate transaction D. Through a $5 fee collected from applicants for licensure and renewal - ā ā D. Through a $5 fee collected from applicants for licensure and renewal Giving false information when applying for or renewing a license is what class of offense?
B. Ensuring the equitable application of disciplinary actions C. Record keeping and clerical Functions D. Reviewing and approving real estate school curricula - ā ā C. Record keeping and clerical Functions Which power allows the Commission to impose disciplinary action for violations of Florida real estate laws and rules? A. Executive power B. Quasi-legislative power C. Ministerial power D. Quasi-judicial power - ā ā D. Quasi-judicial power
Which of the following statements about a Commission member's term limits is accurate? A. There is no maximum number of years, as long as no more than two four-year terms are consecutive B. There are no limits on the number of years or consecutive terms of office C. A commission member may serve no more than eight years D. A Commission member may serve no more than two four-year terms - ā ā A. There is no maximum number of years, as long as no more than two four-year terms are consecutive How frequently and where does the Commission usually meet? A. At least twice a month, in the Division offices in Tallahassee B. At least once a month, in the Division offices in Orlando
C.At least twice a month, in the Division offices in Orlando D. At least once a month, in the Division offices in Tallahassee - ā ā B. At least once a month, in the Division offices in Orlando What is prima facie evidence? A. Evidence that is presumed to be true and correct and shows that the defendant is innocent of any claims alleging fraud or misrepresentation B. Evidence that is presumed to be true and correct if there is additional evidence that supports it C. Evidence that is presumed to be true and correct unless there is other evidence that contradicts its authenticity D. Evidence that is presumed to be true and correct, regardless of other evidence that might be presented - ā ā C. Evidence that is presumed to be true and correct unless there is other evidence that contradicts its authenticity When does a real estate license become active? A. On the date the applicant receives official notification that he or she has passed the state exam B. When the licensee obtains employment and files employment information with the Division C. On the date the licensee receives official notification that his or her license is active
