1. The Real Estate Business Flashcards by Jesse Rennie

Absentee Owner

A. is a Real Estate licensee who engages in the sale, purchase, or lease of businesses.

B. is an informal estimate of market value for the seller, performed by a real estate licensee to assist a seller in arriving at an appropriate listing price, or if working with the buyer, an informal estimate of market.

C. is the process of developing and communicating an opinion about a property’s value.

D. is a property owner who does not reside on the property and who often relies on a professional property manager to manage the investment.

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Appraisal
A. is a Real Estate licensee who engages in the sale, purchase, or lease of businesses.

C. is the process of developing and communicating an opinion about a property’s value.

D. an offer of private land for some public use, by an owner, together or with the acceptance by or on behalf of the public.

C. is the process of developing and communicating an opinion about a property’s value.

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Business Broker
A. an offer of private land for some public use, by an owner, together or with the acceptance by or on behalf of the public.

C. is one specific portion of a city.

D. is a Real Estate licensee who engages in the sale, purchase, or lease of businesses.

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Comparative Market Analysis (CMA)
A.is one specific portion of a city.

B.is a property owner who does not reside on the property and who often relies on a professional property manager to manage the investment.

C.an offer of private land for some public use, by an owner, together or with the acceptance by or on behalf of the public.

D.is an informal estimate of market value for the seller, performed by a real estate licensee to assist a seller in arriving at an appropriate listing price, or if working with the buyer, an informal estimate of market.

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Dedication
A. is one specific portion of a city.

B. is a property owner who does not reside on the property and who often relies on a professional property manager to manage the investment.

C. is the process of developing and communicating an opinion about a property’s value.

D. an offer of private land for some public use, by an owner, together or with the acceptance by or on behalf of the public.

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Farm Area
A.is one specific portion of a city.

B.is a Real Estate licensee who engages in the sale, purchase, or lease of businesses.

C.is a property owner who does not reside on the property and who often relies on a professional property manager to manage the investment.

D.is the process of developing and communicating an opinion about a property’s value.

A.is one specific portion of a city.

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Broker
A. is a person who holds a broker’s license but chooses to register and work in real estate under the direction of another broker.

B. is anything of value or a valuable consideration, directly or indirectly paid, promised, or expected to be paid or received.

C. is a person who has resided in Florida continuously for four calendar months or more within the preceding year, for application and licensing purposes.

D. is a person who, for another and for compensation or other consideration (or anticipation of compensation or other consideration), performs real estate services.

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Broker Associate
A.is a person who holds a broker’s license but chooses to register and work in real estate under the direction of another broker.

B.is a person who has resided in Florida continuously for four calendar months or more within the preceding year, for application and licensing purposes.

C.is a privilege granted by the state to operate as a real estate broker, broker associate, or sales associate; a type of time-share interest.

D.Is anything of value or a valuable consideration, directly or indirectly paid, promised, or expected to be paid or received.

A.is a person who holds a broker’s license but chooses to register and work in real estate under the direction of another broker.

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Compensation
A. is a person who has resided in Florida continuously for four calendar months or more within the preceding year, for application and licensing purposes.

B. is a privilege granted by the state to operate as a real estate broker, broker associate, or sales associate; a type of time-share interest.

C. is a transactional agreement between Florida and another state that provides for the two states to recognize each other’s real estate license education.

D. is anything of value or a valuable consideration, directly or indirectly paid, promised, or expected to be paid or received.

D. is anything of value or a valuable consideration, directly or indirectly paid, promised, or expected to be paid or received

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Florida Resident
A. is a transactional agreement between Florida and another state that provides for the two states to recognize each other’s real estate license education.

B. is a privilege granted by the state to operate as a real estate broker, broker associate, or sales associate; a type of time-share interest.

C. is a plea in a criminal action not admitting guilt but subjecting the defendant to punishment as though it were a guilty plea.

D. is a person who has resided in Florida continuously for four calendar months or more within the preceding year, for application and licensing purposes.

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License
A. is a privilege granted by the state to operate as a real estate broker, broker associate, or sales associate; a type of time-share interest.

B. is a plea in a criminal action not admitting guilt but subjecting the defendant to punishment as though it were a guilty plea.

C. is an unlicensed entity that sells, exchanges, or leases its own property.

D. is a transactional agreement between Florida and another state that provides for the two states to recognize each other’s real estate license education.

A. is a privilege granted by the state to operate as a real estate broker, broker associate, or sales associate; a type of time-share interest.

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Mutual Recognition Agreement
A. is a plea in a criminal action not admitting guilt but subjecting the defendant to punishment as though it were a guilty plea.

B. is a legal term used to refer to evidence that is good and sufficient on its face (at first view) to establish a given fact or prove a case.

C. is an unlicensed entity that sells, exchanges, or leases its own property.

D. is a transactional agreement between Florida and another state that provides for the two states to recognize each other’s real estate license education.

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Nolo Contendere/No Contest
A.is an unlicensed entity that sells, exchanges, or leases its own property.

B. is a plea in a criminal action not admitting guilt but subjecting the defendant to punishment as though it were a guilty plea.

C. are real estate activities involving compensation for performing the activities for another.

D. is a legal term used to refer to evidence that is good and sufficient on its face (at first view) to establish a given fact or prove a case.

B. is a plea in a criminal action not admitting guilt but subjecting the defendant to punishment as though it were a guilty plea.

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Owner-Developer
A. is an unlicensed entity that sells, exchanges, or leases its own property.

B. is an agreement between two states that allows a real estate licensee with a valid license in one of the states to practice real estate in both states.

C. is a legal term used to refer to evidence that is good and sufficient on its face (at first view) to establish a given fact or prove a case.

D. are real estate activities involving compensation for performing the activities for another.

A. is an unlicensed entity that sells, exchanges, or leases its own property.

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Prima Facie Evidence
A. are real estate activities involving compensation for performing the activities for another.

B. is an agreement between two states that allows a real estate licensee with a valid license in one of the states to practice real estate in both states.

C. is a legal term used to refer to evidence that is good and sufficient on its face (at first view) to establish a given fact or prove a case.

D. is the official placement of a real estate business or individual into the records of the DBPR.

C. is a legal term used to refer to evidence that is good and sufficient on its face (at first view) to establish a given fact or prove a case.

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Real Estate Services
A. are real estate activities involving compensation for performing the activities for another.

B. is the official placement of a real estate business or individual into the records of the DBPR.

C. is an agreement between two states that allows a real estate licensee with a valid license in one of the states to practice real estate in both states.

D. is a licensed individual who, for compensation, is employed by a broker or owner-developer.

A. are real estate activities involving compensation for performing the activities for another.

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Registration
A. Is a person who, for another and for compensation or other consideration (or anticipation of compensation or other consideration), performs real estate services.

B. Is the official placement of a real estate business or individual into the records of the DBPR.

C. Is a licensed individual who, for compensation, is employed by a broker or owner-developer.

D. Is when the court determines that a defendant is not likely to again engage in a criminal act and that the ends of justice and the welfare of society do not require that the defendant suffer the penalty imposed by law.

B. Is the official placement of a real estate business or individual into the records of the DBPR.

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Sales Associate

A. Is a person who holds a broker’s license but chooses to register and work in real estate under the direction of another broker.

B. Is a person who, for another and for compensation or other consideration (or anticipation of compensation or other consideration), performs real estate services.

C. Is when the court determines that a defendant is not likely to again engage in a criminal act and that the ends of justice and the welfare of society do not require that the defendant suffer the penalty imposed by law.

D. Is a licensed individual who, for compensation, is employed by a broker or owner-developer.

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Withhold Adjudication

A. Is anything of value or a valuable consideration, directly or indirectly paid, promised, or expected to be paid or received.

B. is a person who, for another and for compensation or other consideration (or anticipation of compensation or other consideration), performs real estate services.

C. is when the court determines that a defendant is not likely to again engage in a criminal act and that the ends of justice and the welfare of society do not require that the defendant suffer the penalty imposed by law.

D. is a person who holds a broker’s license but chooses to register and work in real estate under the direction of another broker.

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Active License
A. is the term used to refer to a licensee who cannot perform real estate services because certain events occur, such as when a broker changes business address.

B. refers to duties related to the education of licensees, the regulating of professional practices, and the publishing of materials.

C. is a current, valid license registered with the DBPR. The status required to actively engage in the real estate business.

D. means a license ceases to exist, effective as of the date approved by the Commission, and does not involve disciplinary action.

C. is a current, valid license registered with the DBPR. The status required to actively engage in the real estate business.

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Cancel
A. is the term used to refer to a licensee who cannot perform real estate services because certain events occur, such as when a broker changes business address.

B. is what a Sales Associate or broker associate employed by an owner-developer (Real Estate Developer) is issued when the Owner-developer owns properties in the name of various entities. This entitles the License to work for the separate sales projects owned by the Owner-developer.

C. means a license ceases to exist, effective as of the date approved by the Commission, and does not involve disciplinary action.

D. refers to duties related to the education of licensees, the regulating of professional practices, and the publishing of materials.

C. means a license ceases to exist, effective as of the date approved by the Commission, and does not involve disciplinary action.

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Cease To Be In Force
A. refers to duties related to the education of licensees, the regulating of professional practices, and the publishing of materials.

B. refers to the license status that results when a license is not renewed at the end of the license period.

C. is what a Sales Associate or broker associate employed by an owner-developer (Real Estate Developer) is issued when the Owner-developer owns properties in the name of various entities. This entitles the License to work for the separate sales projects owned by the Owner-developer.

D. is the term used to refer to a licensee who cannot perform real estate services because certain events occur, such as when a broker changes business address.

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Executive
A. refers to the license status that results when a license is not renewed at the end of the license period.

B. refers to duties related to the education of licensees, the regulating of professional practices, and the publishing of materials.

D. Is what the broker has when a broker holds more than one broker’s license at one time.

B. refers to duties related to the education of licensees, the regulating of professional practices, and the publishing of materials.

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Group License

A. is what the broker has when a broker holds more than one broker’s license at one time.

B. refers to the license status that results when a license is not renewed at the end of the license period.

D. is the term used for the status of a license when a sales associate has failed to successfully complete post-license education prior to the first renewal of the license or when a licensee has failed to renew two or more renewal cycles.

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**Involuntary Inactive** A. is the term used for the status of a license when a sales associate has failed to successfully complete post-license education prior to the first renewal of the license or when a licensee has failed to renew two or more renewal cycles. B. is what the broker has when a broker holds more than one broker's license at one time. C. is the term used regarding powers delegated to the FREC to discipline real estate licensees for violations of real estate license law and FREC administrative rules. D. refers to the license status that results when a license is not renewed at the end of the license period.

D. refers to the license status that results when a license is not renewed at the end of the license period.

**Multiple Licenses** A.is what the broker has when a broker holds more than one broker's license at one time. B.is the term used regarding powers delegated to the FREC to discipline real estate licensees for violations of real estate license law and FREC administrative rules. C.is the term used for the status of a license when a sales associate has failed to successfully complete post-license education prior to the first renewal of the license or when a licensee has failed to renew two or more renewal cycles. D.is the term used regarding powers delegated to the FREC to enact rules and regulations, decide questions of practice, and validate records (imprint with FREC’s seal).

A.is what the broker has when a broker holds more than one broker's license at one time.

**Null and Void** A. Is the term used regarding powers delegated to the FREC to discipline real estate licensees for violations of real estate license law and FREC administrative rules. B. is the term used for the status of a license when a sales associate has failed to successfully complete post-license education prior to the first renewal of the license or when a licensee has failed to renew two or more renewal cycles. C. Is the term used regarding powers delegated to the FREC to enact rules and regulations, decide questions of practice, and validate records (imprint with FREC’s seal). D. Is the license status that results when a licensee has met all the requirements for licensure, yet the licensee chooses not to engage in the real estate business and has requested that the license be placed in this status.

B. is the term used for the status of a license when a sales associate has failed to successfully complete post-license education prior to the first renewal of the license or when a licensee has failed to renew two or more renewal cycles.

**Quasi-Judicial** A.is the term used regarding powers delegated to the FREC to enact rules and regulations, decide questions of practice, and validate records (imprint with FREC’s seal). B.is the term used regarding powers delegated to the FREC to discipline real estate licensees for violations of real estate license law and FREC administrative rules. C.is the license status that results when a licensee has met all the requirements for licensure, yet the licensee chooses not to engage in the real estate business and has requested that the license be placed in this status. D.is a current, valid license registered with the DBPR. The status required to actively engage in the real estate business.

B.is the term used regarding powers delegated to the FREC to discipline real estate licensees for violations of real estate license law and FREC administrative rules.

**Quasi-Legislative** A.is the term used regarding powers delegated to the FREC to enact rules and regulations, decide questions of practice, and validate records (imprint with FREC’s seal). B.means a license ceases to exist, effective as of the date approved by the Commission, and does not involve disciplinary action. C.is the license status that results when a licensee has met all the requirements for licensure, yet the licensee chooses not to engage in the real estate business and has requested that the license be placed in this status. D.is a current, valid license registered with the DBPR. The status required to actively engage in the real estate business.

A.is the term used regarding powers delegated to the FREC to enact rules and regulations, decide questions of practice, and validate records (imprint with FREC’s seal).

**Voluntary Inactive** A. is the term used to refer to a licensee who cannot perform real estate services because certain events occur, such as when a broker changes business address. B. means a license ceases to exist, effective as of the date approved by the Commission, and does not involve disciplinary action. C. is the license status that results when a licensee has met all the requirements for licensure, yet the licensee chooses not to engage in the real estate business and has requested that the license be placed in this status. D. is a current, valid license registered with the DBPR. The status required to actively engage in the real estate business.

C. is the license status that results when a licensee has met all the requirements for licensure, yet the licensee chooses not to engage in the real estate business and has requested that the license be placed in this status.

**Administrative Law** A. Is a body of law created by administrative agencies in the form of rules, regulations, orders, and decisions. Florida Statute 475 empowers the Florida Real Estate Commission to govern real estate practice in Florida. B. Is the person entrusted with another's business C. Refers to conducting negotiations on one’s own behalf without being subject to the other party’s control or influence. D. Is Latin for "let the buyer beware."

A. Is a body of law created by administrative agencies in the form of rules, regulations, orders, and decisions. Florida Statute 475 empowers the Florida Real Estate Commission to govern real estate practice in Florida.

**Agent** A. Is a written agreement to gain the principal’s permission to a change in brokerage relationship. B. Is Latin for "let the buyer beware." C. Is the person entrusted with another's business D. Refers to conducting negotiations on one’s own behalf without being subject to the other party’s control or influence.

C. Is the person entrusted with another's business

**At Arm's Length** A. Is one with whom the broker or sales associate hopes to be successful in accomplishing the purpose of employment. Per Section 475.01, F.S., a member of the public who is or may be a buyer or a seller of real property and may or may not be repre B. Refers to conducting negotiations on one’s own behalf without being subject to the other party’s control or influence. C. Is Latin for "let the buyer beware." D. Is a written agreement to gain the principal’s permission to a change in brokerage relationship.

B. Refers to conducting negotiations on one’s own behalf without being subject to the other party’s control or influence.

**Caveat Emptor** A. Is a written agreement to gain the principal’s permission to a change in brokerage relationship. B. Is Latin for "let the buyer beware." C. Is the term used when two real estate licensees designated to represent the buyer and the seller as single agents in a nonresidential transaction. The buyer and the seller must have assets of $1 million or more and sign disclosure. D. Is one with whom the broker or sales associate hopes to be successful in accomplishing the purpose of employment. Per Section 475.01, F.S., a member of the public who is or may be a buyer or a seller of real property and may or may not be repre

B. Is Latin for "let the buyer beware."

**Consent to Transition** A. Is the term used when two real estate licensees designated to represent the buyer and the seller as single agents in a nonresidential transaction. The buyer and the seller must have assets of $1 million or more and sign disclosure B. Is one with whom the broker or sales associate hopes to be successful in accomplishing the purpose of employment. Per Section 475.01, F.S., a member of the public who is or may be a buyer or a seller of real property and may or may not be repre C. Represents both principals in a transaction (not a legal agency relationship in Florida). D. Is a written agreement to gain the principal’s permission to a change in brokerage relationship.

D. Is a written agreement to gain the principal’s permission to a change in brokerage relationship.

**Customer** A. Is a person in a position of trust and confidence with respect to another person. B. Is one with whom the broker or sales associate hopes to be successful in accomplishing the purpose of employment. Per Section 475.01, F.S., a member of the public who is or may be a buyer or a seller of real property and may or may not be represented C. Is the term used when two real estate licensees designated to represent the buyer and the seller as single agents in a nonresidential transaction. The buyer and the seller must have assets of $1 million or more and sign disclos D. Represents both principals in a transaction (not a legal agency relationship in Florida).

B. Is one with whom the broker or sales associate hopes to be successful in accomplishing the purpose of employment. Per Section 475.01, F.S., a member of the public who is or may be a buyer or a seller of real property and may or may not be represented

**Designated Sales Associates** A. Is a representative authorized by the principal to perform only acts related to a business or to employment of a particular nature. B. Is a person in a position of trust and confidence with respect to another person. C. Represents both principals in a transaction (not a legal agency relationship in Florida). D. Is the term used when two real estate licensees designated to represent the buyer and the seller as single agents in a nonresidential transaction. The buyer and the seller must have assets of $1 million or more and sign disclosures

D. Is the term used when two real estate licensees designated to represent the buyer and the seller as single agents in a nonresidential transaction. The buyer and the seller must have assets of $1 million or more and sign disclosures

**Dual Agency** A. Is the term used when transaction brokers provide a limited form of nonfiduciary representation to a buyer, a seller, or both in a real estate transaction. B. Is a representative authorized by the principal to perform only acts related to a business or to employment of a particular nature. C. Represents both principals in a transaction (not a legal agency relationship in Florida). D. Is a person in a position of trust and confidence with respect to another person.

C. Represents both principals in a transaction (not a legal agency relationship in Florida).

**Fiduciary** A. Is a representative authorized by the principal to perform only acts related to a business or to employment of a particular nature. B. The broker doesn’t represent the customer (the customer may be the buyer or the seller). See also nonrepresentation. C. Is the term used when transaction brokers provide a limited form of nonfiduciary representation to a buyer, a seller, or both in a real estate transaction. D. Is a person in a position of trust and confidence with respect to another person.

D. Is a person in a position of trust and confidence with respect to another person.

**General agent** A. The broker doesn’t represent the customer (the customer may be the buyer or the seller). See also nonrepresentation. B. Is a representative authorized by the principal to perform only acts related to a business or to employment of a particular nature. C. Is the term used when transaction brokers provide a limited form of nonfiduciary representation to a buyer, a seller, or both in a real estate transaction. D. Is a no-brokerage relationship.

B. Is a representative authorized by the principal to perform only acts related to a business or to employment of a particular nature.

**Limited Representation** A. Is a person who delegates authority to another. B. Is the term used when transaction brokers provide a limited form of nonfiduciary representation to a buyer, a seller, or both in a real estate transaction. C. The broker doesn’t represent the customer (the customer may be the buyer or the seller). See also nonrepresentation. D. Is a no-brokerage relationship.

B. Is the term used when transaction brokers provide a limited form of nonfiduciary representation to a buyer, a seller, or both in a real estate transaction.

**No Brokerage Relationship** A. Is a person who delegates authority to another. B. Is the sale of improved residential property of four or fewer units, the sale of unimproved residential property intended for use as four or fewer units, or the sale of agricultural property of 10 or fewer acres. C. Is a no-brokerage relationship. D. The broker doesn’t represent the customer (the customer may be the buyer or the seller). See also nonrepresentation.

D. The broker doesn’t represent the customer (the customer may be the buyer or the seller). See also nonrepresentation.

**Nonrepresentation** A. Is a no-brokerage relationship. B. Is the title used per Section 475.01, F.S., a broker who represents, as a fiduciary, either the buyer or the seller but not both in the same transaction. C. Is the sale of improved residential property of four or fewer units, the sale of unimproved residential property intended for use as four or fewer units, or the sale of agricultural property of 10 or fewer acres. D. Is a person who delegates authority to another.

A. Is a no-brokerage relationship.

**Principal** A. Is a person who delegates authority to another. B. Is the sale of improved residential property of four or fewer units, the sale of unimproved residential property intended for use as four or fewer units, or the sale of agricultural property of 10 or fewer acres. C. Is the title used per Section 475.01, F.S., a broker who represents, as a fiduciary, either the buyer or the seller but not both in the same transaction. D. Is one authorized by a principal to perform a particular act or transaction, without contemplation of continuity of service as with a general agent.

A. Is a person who delegates authority to another.

**Residential Sale** A. Is written statutes enacted by a legislature. Chapters 455 and 475 are two Florida statutes enacted by the Florida Legislature pertaining to license law. B. Is one authorized by a principal to perform a particular act or transaction, without contemplation of continuity of service as with a general agent. C. Is the sale of improved residential property of four or fewer units, the sale of unimproved residential property intended for use as four or fewer units, or the sale of agricultural property of 10 or fewer acres. D. Is the title used per Section 475.01, F.S., a broker who represents, as a fiduciary, either the buyer or the seller but not both in the same transaction.

C. Is the sale of improved residential property of four or fewer units, the sale of unimproved residential property intended for use as four or fewer units, or the sale of agricultural property of 10 or fewer acres.

**Single Agent** A. Is the title used per Section 475.01, F.S., a broker who represents, as a fiduciary, either the buyer or the seller but not both in the same transaction. B. Is a person authorized to assist and represent the agent and whose duties are delegated by the original agent. C. Is written statutes enacted by a legislature. Chapters 455 and 475 are two Florida statutes enacted by the Florida Legislature pertaining to license law. D. Is one authorized by a principal to perform a particular act or transaction, without contemplation of continuity of service as with a general agent.

A. Is the title used per Section 475.01, F.S., a broker who represents, as a fiduciary, either the buyer or the seller but not both in the same transaction.

**Special Agent** A. Is written statutes enacted by a legislature. Chapters 455 and 475 are two Florida statutes enacted by the Florida Legislature pertaining to license law. B. Is a broker who provides limited representation to a buyer, a seller, or both in a real estate transaction, but does not represent either in a fiduciary capacity or as a single agent. C. Is a person authorized to assist and represent the agent and whose duties are delegated by the original agent. D. Is one authorized by a principal to perform a particular act or transaction, without contemplation of continuity of service as with a general agent.

D. Is one authorized by a principal to perform a particular act or transaction, without contemplation of continuity of service as with a general agent.

**Statutory Law** A. Is a representative authorized by the principal to perform all acts that the principal can personally perform and that may be lawfully delegated to another. B. Is a broker who provides limited representation to a buyer, a seller, or both in a real estate transaction, but does not represent either in a fiduciary capacity or as a single agent. C. Is a person authorized to assist and represent the agent and whose duties are delegated by the original agent. D. Is written statutes enacted by a legislature. Chapters 455 and 475 are two Florida statutes enacted by the Florida Legislature pertaining to license law.

D. Is written statutes enacted by a legislature. Chapters 455 and 475 are two Florida statutes enacted by the Florida Legislature pertaining to license law.

**Subagent** A. Is a body of law created by administrative agencies in the form of rules, regulations, orders, and decisions. Florida Statute 475 empowers the Florida Real Estate Commission to govern real estate practice in Florida. B. Is a broker who provides limited representation to a buyer, a seller, or both in a real estate transaction, but does not represent either in a fiduciary capacity or as a single agent. C. Is a person authorized to assist and represent the agent and whose duties are delegated by the original agent. D. Is a representative authorized by the principal to perform all acts that the principal can personally perform and that may be lawfully delegated to another.

C. Is a person authorized to assist and represent the agent and whose duties are delegated by the original agent.

**Transaction Broker** A. Is a body of law created by administrative agencies in the form of rules, regulations, orders, and decisions. Florida Statute 475 empowers the Florida Real Estate Commission to govern real estate practice in Florida. B. Is a broker who provides limited representation to a buyer, a seller, or both in a real estate transaction, but does not represent either in a fiduciary capacity or as a single agent. C. Is the person entrusted with another's business D. Is a representative authorized by the principal to perform all acts that the principal can personally perform and that may be lawfully delegated to another.

B. Is a broker who provides limited representation to a buyer, a seller, or both in a real estate transaction, but does not represent either in a fiduciary capacity or as a single agent.

**Universal Agent** A. is a body of law created by administrative agencies in the form of rules, regulations, orders, and decisions. Florida Statute 475 empowers the Florida Real Estate Commission to govern real estate practice in Florida. B. refers to conducting negotiations on one’s own behalf without being subject to the other party’s control or influence. C. is the person entrusted with another's business D. is a representative authorized by the principal to perform all acts that the principal can personally perform and that may be lawfully delegated to another.

D. is a representative authorized by the principal to perform all acts that the principal can personally perform and that may be lawfully delegated to another.

**Antitrust Laws** A. Are state and federal laws designed to maintain and preserve business competition. B. Means to mix together money or a deposit with personal funds; combine; intermingle. C. Is an advertisement that provides only a telephone number, a post office box, and/or an address without the licensed name of the brokerage firm. D. Is the act of having a third party render a binding decision in a dispute between two parties.

A. Are state and federal laws designed to maintain and preserve business competition.

**Arbitration** A. Is the act of having a third party render a binding decision in a dispute between two parties. B. Is an advertisement that provides only a telephone number, a post office box, and/or an address without the licensed name of the brokerage firm. C. Is when different parties each make claims that are inconsistent with one another. D. Means to mix together money or a deposit with personal funds; combine; intermingle.

A. Is the act of having a third party render a binding decision in a dispute between two parties.

**Blind Advertisement** A. Means to mix together money or a deposit with personal funds; combine; intermingle. B. Is an artificial or fictitious person formed to conduct specified types of business activities. C. Is when different parties each make claims that are inconsistent with one another. D. Is an advertisement that provides only a telephone number, a post office box, and/or an address without the licensed name of the brokerage firm.

D. Is an advertisement that provides only a telephone number, a post office box, and/or an address without the licensed name of the brokerage firm.

**Commingle** A. Means to mix together money or a deposit with personal funds; combine; intermingle. B. Is when different parties each make claims that are inconsistent with one another. C. Is an artificial or fictitious person formed to conduct specified types of business activities. D. Is a course of action declaring rights claimed under a contract or statute intended to prevent loss or to guide performance by the party or parties affected.

A. Means to mix together money or a deposit with personal funds; combine; intermingle.

**Conflicting Demands** A. Is an artificial or fictitious person formed to conduct specified types of business activities. B. Is earnest money or some other valuable consideration given as evidence of good faith to accompany an offer to purchase or rent. See also binder and earnest money. C. Is when different parties each make claims that are inconsistent with one another. D. Is a course of action declaring rights claimed under a contract or statute intended to prevent loss or to guide performance by the party or parties affected.

C. Is when different parties each make claims that are inconsistent with one another.

**Corporation** A. Is a type of money that a broker may handle for others in the ordinary course of business; also called a good-faith deposit or binder deposit. B. Is a course of action declaring rights claimed under a contract or statute intended to prevent loss or to guide performance by the party or parties affected. C. Is an artificial or fictitious person formed to conduct specified types of business activities. D. Is earnest money or some other valuable consideration given as evidence of good faith to accompany an offer to purchase or rent. See also binder and earnest money.

C. Is an artificial or fictitious person formed to conduct specified types of business activities.

**Declaratory Judgment** A. Is a course of action declaring rights claimed under a contract or statute intended to prevent loss or to guide performance by the party or parties affected. B. Is earnest money or some other valuable consideration given as evidence of good faith to accompany an offer to purchase or rent. See also binder and earnest money. C. Is a type of money that a broker may handle for others in the ordinary course of business; also called a good-faith deposit or binder deposit. D. Is an account in a bank, title company, credit union, savings association, or trust company used solely for safekeeping customer funds and not for deposit of personal funds; impound account or trust account.

A. Is a course of action declaring rights claimed under a contract or statute intended to prevent loss or to guide performance by the party or parties affected.

**Deposit** A. Is a type of money that a broker may handle for others in the ordinary course of business; also called a good-faith deposit or binder deposit. B. Is a course of action for determining the disposition of a contested deposit. C. Is earnest money or some other valuable consideration given as evidence of good faith to accompany an offer to purchase or rent. See also binder and earnest money. D. Is an account in a bank, title company, credit union, savings association, or trust company used solely for safekeeping customer funds and not for deposit of personal funds; impound account or trust account.

C. Is earnest money or some other valuable consideration given as evidence of good faith to accompany an offer to purchase or rent. See also binder and earnest money.

**Earnest Money** A. Is a course of action for determining the disposition of a contested deposit. B. Is an association of two or more persons for the purpose of jointly conducting a business, each being responsible for all the debts incurred in the conducting of that business. C. Is an account in a bank, title company, credit union, savings association, or trust company used solely for safekeeping customer funds and not for deposit of personal funds; impound account or trust account. D. Is a type of money that a broker may handle for others in the ordinary course of business; also called a good-faith deposit or binder deposit.

D. Is a type of money that a broker may handle for others in the ordinary course of business; also called a good-faith deposit or binder deposit.

**Escrow Account** A. Is an association of two or more persons for the purpose of jointly conducting a business, each being responsible for all the debts incurred in the conducting of that business. B. Is an account in a bank, title company, credit union, savings association, or trust company used solely for safekeeping customer funds and not for deposit of personal funds; impound account or trust account. C. Is a course of action for determining the disposition of a contested deposit. D. Refers to a broker’s uncertainty as to which party should receive the escrowed property.

B. Is an account in a bank, title company, credit union, savings association, or trust company used solely for safekeeping customer funds and not for deposit of personal funds; impound account or trust account.

**Escrow Disbursement Order (EDO)** A. Refers to the time period during which a broker must deposit escrow funds; no later than the end of the third business day after the broker’s sales associate or an employee has received the funds. B. Is an association of two or more persons for the purpose of jointly conducting a business, each being responsible for all the debts incurred in the conducting of that business. C. Refers to a broker’s uncertainty as to which party should receive the escrowed property. D. Is a course of action for determining the disposition of a contested deposit.

D. Is a course of action for determining the disposition of a contested deposit.

**General Partnership** A. Is an association of two or more persons for the purpose of jointly conducting a business, each being responsible for all the debts incurred in the conducting of that business. B. Refers to the time period during which a broker must deposit escrow funds; no later than the end of the third business day after the broker’s sales associate or an employee has received the funds. C. Refers to a broker’s uncertainty as to which party should receive the escrowed property. D. Is a course of action when two contesting parties cannot reach an arbitrated agreement; a legal proceeding whereby the broker, having no financial interest in the disputed funds, deposits with the court the disputed escrow deposit so that the seller or buyer pays

A. Is an association of two or more persons for the purpose of jointly conducting a business, each being responsible for all the debts incurred in the conducting of that business.

**Good-Faith Doubt** A. Is when a Broker receives money from someone other than the buyer or the seller, such as for referring a buyer or seller to a particular vendor for services. B. Refers to the time period during which a broker must deposit escrow funds; no later than the end of the third business day after the broker’s sales associate or an employee has received the funds. C. Is a course of action when two contesting parties cannot reach an arbitrated agreement; a legal proceeding whereby the broker, having no financial interest in the disputed funds, deposits with the court the disputed escrow deposit so that the D. Refers to a broker’s uncertainty as to which party should receive the escrowed property.

D. Refers to a broker’s uncertainty as to which party should receive the escrowed property.

**Immediately** A. Is when a Broker receives money from someone other than the buyer or the seller, such as for referring a buyer or seller to a particular vendor for services. B. Is a course of action when two contesting parties cannot reach an arbitrated agreement; a legal proceeding whereby the broker, having no financial interest in the disputed funds, deposits with the court the disputed escrow deposit. C. Refers to the time period during which a broker must deposit escrow funds; no later than the end of the third business day after the broker’s sales associate or an employee has received the funds. D. Is an alternative, hybrid business entity with the combined characteristics and benefits of both limited partnerships and S corporations.

C. Refers to the time period during which a broker must deposit escrow funds; no later than the end of the third business day after the broker’s sales associate or an employee has received the funds.

**Interpleader** A. Is when a Broker receives money from someone other than the buyer or the seller, such as for referring a buyer or seller to a particular vendor for services. B. Is a course of action when two contesting parties cannot reach an arbitrated agreement; a legal proceeding whereby the broker, having no financial interest in the disputed funds, deposits with the court the disputed escrow deposit so that the C. Is an alternative, hybrid business entity with the combined characteristics and benefits of both limited partnerships and S corporations. D. Is a business entity that features protection from personal liability in much the same way as limited partners in a limited partnership.

B. Is a course of action when two contesting parties cannot reach an arbitrated agreement; a legal proceeding whereby the broker, having no financial interest in the disputed funds, deposits with the court the disputed escrow deposit so that the

**Kickback** A. Is a business entity consisting of one or more general partners and one or more limited partners. B. Is an alternative, hybrid business entity with the combined characteristics and benefits of both limited partnerships and S corporations. C. Is when a Broker receives money from someone other than the buyer or the seller, such as for referring a buyer or seller to a particular vendor for services. D. Is a business entity that features protection from personal liability in much the same way as limited partners in a limited partnership.

C. Is when a Broker receives money from someone other than the buyer or the seller, such as for referring a buyer or seller to a particular vendor for services.

**Limited Liability company (LLC)** A. Is an alternative, hybrid business entity with the combined characteristics and benefits of both limited partnerships and S corporations. B. Is one of the settlements (escape) procedures that provide for the matter to be resolved in a court of law when there are disputing parties regarding escrow funds. C. Is a business entity consisting of one or more general partners and one or more limited partners. D. Is a business entity that features protection from personal liability in much the same way as limited partners in a limited partnership.

A. Is an alternative, hybrid business entity with the combined characteristics and benefits of both limited partnerships and S corporations.

**Limited Liability Partnership (LLP)** A. Is a business entity that features protection from personal liability in much the same way as limited partners in a limited partnership. B. Is the act of having a third party attempt to reconcile a dispute between two parties. C. Is a business entity consisting of one or more general partners and one or more limited partners. D. Is one of the settlements (escape) procedures that provide for the matter to be resolved in a court of law when there are disputing parties regarding escrow funds.

A. Is a business entity that features protection from personal liability in much the same way as limited partners in a limited partnership.

**Limited Partnership** A. Is one of the settlements (escape) procedures that provide for the matter to be resolved in a court of law when there are disputing parties regarding escrow funds. B. Is the act of having a third party attempt to reconcile a dispute between two parties. C. Is a business entity consisting of one or more general partners and one or more limited partners. D. Is when one or more parties cause a third party to be deceived into believing that a business relationship exists when no such arrangement exists.

C. Is a business entity consisting of one or more general partners and one or more limited partners.

**Litigation** A. Is the act of having a third party attempt to reconcile a dispute between two parties. B. Is when one or more parties cause a third party to be deceived into believing that a business relationship exists when no such arrangement exists. C. Is a business corporation consisting of one or more individuals engaged in a primary business that provides a professional service (e.g., lawyer, doctor). D. Is one of the settlements (escape) procedures that provide for the matter to be resolved in a court of law when there are disputing parties regarding escrow funds.

D. Is one of the settlements (escape) procedures that provide for the matter to be resolved in a court of law when there are disputing parties regarding escrow funds.

**Mediation** A. Is the act of having a third party attempt to reconcile a dispute between two parties. B. Is when one or more parties cause a third party to be deceived into believing that a business relationship exists when no such arrangement exists. C. Is a business corporation consisting of one or more individuals engaged in a primary business that provides a professional service (e.g., lawyer, doctor). D. Refers to dealing as an individual in business.

A. Is the act of having a third party attempt to reconcile a dispute between two parties.

**Ostensible Partnership** A. Is a business corporation consisting of one or more individuals engaged in a primary business that provides a professional service (e.g., lawyer, doctor). B. Refers to dealing as an individual in business. C. Is any adopted or fictitious name used to designate a business concern. D. Is when one or more parties cause a third party to be deceived into believing that a business relationship exists when no such arrangement exists.

D. Is when one or more parties cause a third party to be deceived into believing that a business relationship exists when no such arrangement exists.

**Professional Association (PA)** A. Is cash, checks, money orders, and items that can be converted into cash, such as deeds and personal property, that a person (broker) holds in trust for another person. B. Is any adopted or fictitious name used to designate a business concern. C. Refers to dealing as an individual in business. D. Is a business corporation consisting of one or more individuals engaged in a primary business that provides a professional service (e.g., lawyer, doctor).

D. Is a business corporation consisting of one or more individuals engaged in a primary business that provides a professional service (e.g., lawyer, doctor).

**Sole Proprietorship** A. Are state and federal laws designed to maintain and preserve business competition. B. Is any adopted or fictitious name used to designate a business concern. C. Refers to dealing as an individual in business. D. Is cash, checks, money orders, and items that can be converted into cash, such as deeds and personal property, that a person (broker) holds in trust for another person.

C. Refers to dealing as an individual in business.

**Trade Name** A. Is any adopted or fictitious name used to designate a business concern. B. Is cash, checks, money orders, and items that can be converted into cash, such as deeds and personal property, that a person (broker) holds in trust for another person. C. Is the act of having a third party render a binding decision in a dispute between two parties. D. Are state and federal laws designed to maintain and preserve business competition.

A. Is any adopted or fictitious name used to designate a business concern.

**Trust Funds** A. are state and federal laws designed to maintain and preserve business competition. B. is the act of having a third party render a binding decision in a dispute between two parties. C. is an advertisement that provides only a telephone number, a post office box, and/or an address without the licensed name of the brokerage firm. D. is cash, checks, money orders, and items that can be converted into cash, such as deeds and personal property, that a person (broker) holds in trust for another person.

D. is cash, checks, money orders, and items that can be converted into cash, such as deeds and personal property, that a person (broker) holds in trust for another person.

**Citation** A. Is a formal allegation or charge. B. Are statements of alleged violations and the penalties to be imposed. C. Is the mixing of a buyer's, seller's, tenant's, or landlord's funds with the broker's own money or mixing escrow money with the broker's personal funds or brokerage funds. D. is the withholding of information.

B. Are statements of alleged violations and the penalties to be imposed.

**Commingle** A. Is the mixing of a buyer's, seller's, tenant's, or landlord's funds with the broker's own money or mixing escrow money with the broker's personal funds or brokerage funds. B. Is the unauthorized use or retention of money or property that rightfully belongs to another person. C. is the withholding of information. D. Is a formal allegation or charge.

A. Is the mixing of a buyer's, seller's, tenant's, or landlord's funds with the broker's own money or mixing escrow money with the broker's personal funds or brokerage funds.

**Complaint** A. Is a formal allegation or charge. B. Is Inadequate attention to duties and obligations by those who know, or should know, what is required of them. C. Is the unauthorized use or retention of money or property that rightfully belongs to another person. D. is the withholding of information.

A. Is a formal allegation or charge.

**Concealment** A. Is Inadequate attention to duties and obligations by those who know, or should know, what is required of them. B. Is the unauthorized use or retention of money or property that rightfully belongs to another person. C. is the withholding of information. D. Is the act of failing to pay money to a person entitled to receive it.

C. is the withholding of information.

**Conversion** A. Is the act of failing to pay money to a person entitled to receive it. B. Is a decision rendered by the FREC. C. Is the unauthorized use or retention of money or property that rightfully belongs to another person. D. Is Inadequate attention to duties and obligations by those who know, or should know, what is required of them.

C. Is the unauthorized use or retention of money or property that rightfully belongs to another person.

**Culpable Negligence** A. Is a decision rendered by the FREC. B. Is an outline of the charges against a licensee that must be answered within the statutory time limit. C. Is Inadequate attention to duties and obligations by those who know, or should know, what is required of them. D. Is the act of failing to pay money to a person entitled to receive it.

C. Is Inadequate attention to duties and obligations by those who know, or should know, what is required of them.

**Failure To Account For and Deliver** A. Is a session in which testimony and arguments are presented, especially before an official. B. Is the act of failing to pay money to a person entitled to receive it. C. Is an outline of the charges against a licensee that must be answered within the statutory time limit. D. Is a decision rendered by the FREC.

B. Is the act of failing to pay money to a person entitled to receive it.

**Final Order** A. Is a session in which testimony and arguments are presented, especially before an official. B. Is an outline of the charges against a licensee that must be answered within the statutory time limit. C. is the intent to misrepresent a material fact or to deceive in order to gain an unfair advantage or to harm another person. D. Is a decision rendered by the FREC.

D. Is a decision rendered by the FREC.

**Formal (administrative) Complaint** A. is what a respondent requests when they do not want to dispute allegations of material fact in the administrative complaint. They may request an informal hearing before the FREC for final action on the complaint. B. Is an outline of the charges against a licensee that must be answered within the statutory time limit. C. is the intent to misrepresent a material fact or to deceive in order to gain an unfair advantage or to harm another person. D. Is a session in which testimony and arguments are presented, especially before an official.

B. Is an outline of the charges against a licensee that must be answered within the statutory time limit.

**Formal Hearing** A. is what a respondent requests when they do not want to dispute allegations of material fact in the administrative complaint. They may request an informal hearing before the FREC for final action on the complaint. B. Is a session in which testimony and arguments are presented, especially before an official. C. is the intent to misrepresent a material fact or to deceive in order to gain an unfair advantage or to harm another person. D. Is a complaint that contains facts indicating that a violation of a Florida statute, a DBPR rule, or a FREC rule has occurred.

B. Is a session in which testimony and arguments are presented, especially before an official.

**Fraud** A. is a piece of information that affects the value of real property and is relevant to a person making a decision about that property. B. is the intent to misrepresent a material fact or to deceive in order to gain an unfair advantage or to harm another person. C. is a complaint that contains facts indicating that a violation of a Florida statute, a DBPR rule, or a FREC rule has occurred. D. is what a respondent requests when they do not want to dispute allegations of material fact in the administrative complaint. They may request an informal hearing before the FREC for final action on the complaint.

B. is the intent to misrepresent a material fact or to deceive in order to gain an unfair advantage or to harm another person.

**Informal Hearing** A. is what a respondent requests when they do not want to dispute allegations of material fact in the administrative complaint. They may request an informal hearing before the FREC for final action on the complaint. B. Is a piece of information that affects the value of real property and is relevant to a person making a decision about that property. C. Is a false or misleading statement of a material fact; concealment of a material fact. D. Is a complaint that contains facts indicating that a violation of a Florida statute, a DBPR rule, or a FREC rule has occurred.

A. is what a respondent requests when they do not want to dispute allegations of material fact in the administrative complaint. They may request an informal hearing before the FREC for final action on the complaint.

**Legally Sufficient** A. Is an act of corruption, vileness, or moral depravity; a disgraceful action or deed. B. Is a complaint that contains facts indicating that a violation of a Florida statute, a DBPR rule, or a FREC rule has occurred. C. Is a false or misleading statement of a material fact; concealment of a material fact. D. Is a piece of information that affects the value of real property and is relevant to a person making a decision about that property.

B. Is a complaint that contains facts indicating that a violation of a Florida statute, a DBPR rule, or a FREC rule has occurred.

**Material Fact** A. Is a piece of information that affects the value of real property and is relevant to a person making a decision about that property. B. Is issued by the DBPR in the case of a minor rule violation that does not endanger the public health, safety, and welfare. C. Is an act of corruption, vileness, or moral depravity; a disgraceful action or deed. D. Is a false or misleading statement of a material fact; concealment of a material fact.

A. Is a piece of information that affects the value of real property and is relevant to a person making a decision about that property.

**Misrepresentation** A. Is issued by the DBPR in the case of a minor rule violation that does not endanger the public health, safety, and welfare. B. Is an act of corruption, vileness, or moral depravity; a disgraceful action or deed. C. Is a false or misleading statement of a material fact; concealment of a material fact. D. Is reasonable grounds or justification for prosecuting.

C. Is a false or misleading statement of a material fact; concealment of a material fact.

**Moral Turpitude** A. Is reasonable grounds or justification for prosecuting. B. Is an act of corruption, vileness, or moral depravity; a disgraceful action or deed. C. Is issued by the DBPR in the case of a minor rule violation that does not endanger the public health, safety, and welfare. D. Is a determination by an administrative law judge that includes findings and conclusions, as well as other information required by law or agency rule to be in a final order.

B. Is an act of corruption, vileness, or moral depravity; a disgraceful action or deed.

**Notice of Noncompliance** A. Is reasonable grounds or justification for prosecuting. B. Is a determination by an administrative law judge that includes findings and conclusions, as well as other information required by law or agency rule to be in a final order. C. Is issued by the DBPR in the case of a minor rule violation that does not endanger the public health, safety, and welfare. D. Is an agreement as to the penalty reached between the attorneys for the DRE and the licensee or licensee’s attorney.

C. Is issued by the DBPR in the case of a minor rule violation that does not endanger the public health, safety, and welfare.

**Probable Cause** A. Is a determination by an administrative law judge that includes findings and conclusions, as well as other information required by law or agency rule to be in a final order. B. Is a writ or order commanding the person named to appear and testify in a legal proceeding. C. Is an agreement as to the penalty reached between the attorneys for the DRE and the licensee or licensee’s attorney. D. Is reasonable grounds or justification for prosecuting.

D. Is reasonable grounds or justification for prosecuting.

**Recommended Order** A. Is a determination by an administrative law judge that includes findings and conclusions, as well as other information required by law or agency rule to be in a final order. B. Is an agreement as to the penalty reached between the attorneys for the DRE and the licensee or licensee’s attorney. C. Is a writ or order commanding the person named to appear and testify in a legal proceeding. D. Is an emergency or immediate action taken by the secretary of the DBPR against a license to protect the public.

A. Is a determination by an administrative law judge that includes findings and conclusions, as well as other information required by law or agency rule to be in a final order.

**Stipulation** A. Is an agreement as to the penalty reached between the attorneys for the DRE and the licensee or licensee’s attorney. B. Is an emergency or immediate action taken by the secretary of the DBPR against a license to protect the public. C. Is a writ or order commanding the person named to appear and testify in a legal proceeding. D. Are statements of alleged violations and the penalties to be imposed.

A. Is an agreement as to the penalty reached between the attorneys for the DRE and the licensee or licensee’s attorney

**Subpoena** A. is an emergency or immediate action taken by the secretary of the DBPR against a license to protect the public. B. is the mixing of a buyer's, seller's, tenant's, or landlord's funds with the broker's own money or mixing escrow money with the broker's personal funds or brokerage funds. C. is a writ or order commanding the person named to appear and testify in a legal proceeding. D. are statements of alleged violations and the penalties to be imposed.

C. is a writ or order commanding the person named to appear and testify in a legal proceeding.

**Summary (emergency) Suspension Order** A. is an emergency or immediate action taken by the secretary of the DBPR against a license to protect the public. B. is a formal allegation or charge. C. is the mixing of a buyer's, seller's, tenant's, or landlord's funds with the broker's own money or mixing escrow money with the broker's personal funds or brokerage funds. D. are statements of alleged violations and the penalties to be imposed.

A. is an emergency or immediate action taken by the secretary of the DBPR against a license to protect the public.

**Blockbusting** A. Is an act contained in Title VIII of the Civil Rights Act of 1968 that created protected classes of people and prohibits discrimination when selling or renting residential property when based on race, color, religion, sex, national origin, familial status, or handicap status. B. Is a federal act that prohibits any type of discrimination based on race in any real estate transaction (sale or rental) without exception. C. Is the illegal practice of inducing homeowners to sell their property by making misrepresentations regarding the entry or prospective entry of minority persons in order to cause a turnover of properties in the neighborhood; discriminatory acts against sellers. D. Is a protected class as defined in the Fair Housing Act, consisting of one or more individuals under age 18 living with a parent or legal guardian and pregnant women.

C. Is the illegal practice of inducing homeowners to sell their property by making misrepresentations regarding the entry or prospective entry of minority persons in order to cause a turnover of properties in the neighborhood; discriminatory acts against sellers.

**Civil Rights Act of 1866** A. Is a protected class as defined in the Fair Housing Act, consisting of one or more individuals under age 18 living with a parent or legal guardian and pregnant women. B. Is an act contained in Title VIII of the Civil Rights Act of 1968 that created protected classes of people and prohibits discrimination when selling or renting residential property when based on race, color, religion, sex, national origin, familial status, or handicap status. C. Is a protected class as defined in the Fair Housing Act and the Americans with Disabilities Act consisting of a physical or mental impairment that substantially limits one or more major life activities. D. Is a federal act that prohibits any type of discrimination based on race in any real estate transaction (sale or rental) without exception.

D. Is a federal act that prohibits any type of discrimination based on race in any real estate transaction (sale or rental) without exception.

**Fair Housing Act** A. Is an act contained in Title VIII of the Civil Rights Act of 1968 that created protected classes of people and prohibits discrimination when selling or renting residential property when based on race, color, religion, sex, national origin, familial status, or handicap status. B. Is a protected class as defined in the Fair Housing Act, consisting of one or more individuals under age 18 living with a parent or legal guardian and pregnant women. C. Is discriminatory financing by a lending institution. D. Is a protected class as defined in the Fair Housing Act and the Americans with Disabilities Act consisting of a physical or mental impairment that substantially limits one or more major life activities.

A. Is an act contained in Title VIII of the Civil Rights Act of 1968 that created protected classes of people and prohibits discrimination when selling or renting residential property when based on race, color, religion, sex, national origin, familial status, or handicap status.

**Familial Status** A. Is a protected class as defined in the Fair Housing Act, consisting of one or more individuals under age 18 living with a parent or legal guardian and pregnant women. B. Is discriminatory financing by a lending institution. C. Is discriminatory acts against buyers. D. Is a protected class as defined in the Fair Housing Act and the Americans with Disabilities Act consisting of a physical or mental impairment that substantially limits one or more major life activities.

A. Is a protected class as defined in the Fair Housing Act, consisting of one or more individuals under age 18 living with a parent or legal guardian and pregnant women.

**Handicap Status** A. Is discriminatory acts against buyers. B. Is a protected class as defined in the Fair Housing Act and the Americans with Disabilities Act consisting of a physical or mental impairment that substantially limits one or more major life activities. C. Is the illegal practice of inducing homeowners to sell their property by making misrepresentations regarding the entry or prospective entry of minority persons in order to cause a turnover of properties in the neighborhood; discriminatory acts against sellers. D. Is discriminatory financing by a lending institution.

B. Is a protected class as defined in the Fair Housing Act and the Americans with Disabilities Act consisting of a physical or mental impairment that substantially limits one or more major life activities.

**Redlining** A. Is discriminatory financing by a lending institution. B. Is the illegal practice of inducing homeowners to sell their property by making misrepresentations regarding the entry or prospective entry of minority persons in order to cause a turnover of properties in the neighborhood; discriminatory acts against sellers. C. Is discriminatory acts against buyers. D. Is a federal act that prohibits any type of discrimination based on race in any real estate transaction (sale or rental) without exception.

A. Is discriminatory financing by a lending institution.

**Steering** A. is discriminatory acts against buyers. B. is the illegal practice of inducing homeowners to sell their property by making misrepresentations regarding the entry or prospective entry of minority persons in order to cause a turnover of properties in the neighborhood; discriminatory acts against sellers. C. is an act contained in Title VIII of the Civil Rights Act of 1968 that created protected classes of people and prohibits discrimination when selling or renting residential property when based on race, color, religion, sex, national origin, familial status, or handicap status. D. is a federal act that prohibits any type of discrimination based on race in any real estate transaction (sale or rental) without exception.

A. is discriminatory acts against buyers.

**Bundle of Legal Rights** A. Are a multiunit project consisting of individual ownership of a dwelling unit and undivided ownership of common areas. B. Is an ownership concept describing all the legal rights that attach to the ownership of real property, including disposition, enjoyment, exclusion, possession, and control. C. Is a multiunit project consisting of individual dwelling units owned by the corporation. Owners purchase shares in the corporation and receive a proprietory lease. D. Is when two or more persons own property at the same time, such as joint tenants, tenants by the entirety, or tenants in common.

B. Is an ownership concept describing all the legal rights that attach to the ownership of real property, including disposition, enjoyment, exclusion, possession, and control.

**Concurrent Ownership** A. Are a multiunit project consisting of individual ownership of a dwelling unit and undivided ownership of common areas. B. Is when two or more persons own property at the same time, such as joint tenants, tenants by the entirety, or tenants in common. C. Is a multiunit project consisting of individual dwelling units owned by the corporation. Owners purchase shares in the corporation and receive a proprietory lease. D. Is the legal document that the developer of a condominium must file and record in order to create a condominium under state law.

B. Is when two or more persons own property at the same time, such as joint tenants, tenants by the entirety, or tenants in common.

**Condominiums** A. Is a tenancy measured from a starting date to a termination date (may be for a few days or longer than any natural life; e.g., a leasehold is an estate for years). B. Are a multiunit project consisting of individual ownership of a dwelling unit and undivided ownership of common areas. C. Is a multiunit project consisting of individual dwelling units owned by the corporation. Owners purchase shares in the corporation and receive a proprietory lease. D. Is the legal document that the developer of a condominium must file and record in order to create a condominium under state law.

B. Are a multiunit project consisting of individual ownership of a dwelling unit and undivided ownership of common areas.

**Cooperative** A. Is a multiunit project consisting of individual dwelling units owned by the corporation. Owners purchase shares in the corporation and receive a proprietory lease. B. Is a tenancy measured from a starting date to a termination date (may be for a few days or longer than any natural life; e.g., a leasehold is an estate for years). C. Is ownership of property vested in one person alone, also called sole ownership. D. Is the legal document that the developer of a condominium must file and record in order to create a condominium under state law.

A. Is a multiunit project consisting of individual dwelling units owned by the corporation. Owners purchase shares in the corporation and receive a proprietory lease.

**Declaration of Condominium** A. Is ownership of property vested in one person alone, also called sole ownership. B. Is the most comprehensive and complete interest one can hold in real property; freehold estate. Also called fee or fee simple absolute. C. Is the legal document that the developer of a condominium must file and record in order to create a condominium under state law. D. Is a tenancy measured from a starting date to a termination date (may be for a few days or longer than any natural life; e.g., a leasehold is an estate for years).

C. Is the legal document that the developer of a condominium must file and record in order to create a condominium under state law.

**Estate for Years** A. Is ownership of property vested in one person alone, also called sole ownership. B. Is a tenancy measured from a starting date to a termination date C. Is an object that was once considered personal property but has become real property because of attachment to, or use in, improvements to real property. D. Is the most comprehensive and complete interest one can hold in real property; freehold estate. Also called fee or fee simple absolute.

B. Is a tenancy measured from a starting date to a termination date ## Footnote (may be for a few days or longer than any natural life; e.g., a leasehold is an estate for years).

**Estate in Severalty** A. Is ownership of property vested in one person alone, also called sole ownership. B. Is a tenancy in real property with no set termination date that can be measured by the lifetime of an individual or can be inherited by heirs. C. Is the most comprehensive and complete interest one can hold in real property; freehold estate. Also called fee or fee simple absolute. D. Is an object that was once considered personal property but has become real property because of attachment to, or use in, improvements to real property.

A. Is ownership of property vested in one person alone, also called sole ownership.

**Fee simple estate** A. Is the most comprehensive and complete interest one can hold in real property; freehold estate. Also called fee or fee simple absolute. B. Is a tenancy in real property with no set termination date that can be measured by the lifetime of an individual or can be inherited by heirs. C. Is the term used to describe three separate but related situations: (1) a tax exemption, (2) a tract of land limited in size, and (3) a statutory condition designed to protect the interests of a spouse and lineal descendants. D. Is an object that was once considered personal property but has become real property because of attachment to, or use in, improvements to real property.

A. Is the most comprehensive and complete interest one can hold in real property; freehold estate. Also called fee or fee simple absolute.

**Fixture** A. Is an estate or interest owned by more than one person, each having equal rights to possession and enjoyment; the interest a deceased tenant conveys to surviving tenants by specific wording in the deed establishing the joint tenancy. B. Is a tenancy in real property with no set termination date that can be measured by the lifetime of an individual or can be inherited by heirs. C. Is the term used to describe three separate but related situations: (1) a tax exemption, (2) a tract of land limited in size, and (3) a statutory condition designed to protect the interests of a spouse and lineal descendants. D. Is an object that was once considered personal property but has become real property because of attachment to, or use in, improvements to real property.

D. Is an object that was once considered personal property but has become real property because of attachment to, or use in, improvements to real property.

**Freehold estate** A. Is a tenancy in real property with no set termination date that can be measured by the lifetime of an individual or can be inherited by heirs. B. Is the term used to describe three separate but related situations: (1) a tax exemption, (2) a tract of land limited in size, and (3) a statutory condition designed to protect the interests of a spouse and lineal descendants. C. Is the surface of the earth and everything attached to it by nature. D. Is an estate or interest owned by more than one person, each having equal rights to possession and enjoyment; the interest a deceased tenant conveys to surviving tenants by specific wording in the deed establishing the joint tenancy.

A. Is a tenancy in real property with no set termination date that can be measured by the lifetime of an individual or can be inherited by heirs.

**Homestead** A. Is the term used to describe three separate but related situations: (1) a tax exemption, (2) a tract of land limited in size, and (3) a statutory condition designed to protect the interests of a spouse and lineal descendants. B. Is a tenancy in real property held under a lease arrangement for a definite number of years; nonfreehold. C. Is an estate or interest owned by more than one person, each having equal rights to possession and enjoyment; the interest a deceased tenant conveys to surviving tenants by specific wording in the deed establishing the joint tenancy. D. Is the surface of the earth and everything attached to it by nature.

A. Is the term used to describe three separate but related situations: (1) a tax exemption, (2) a tract of land limited in size, and (3) a statutory condition designed to protect the interests of a spouse and lineal descendants.

**Joint Tenancy** A. Is a tenancy in real property held under a lease arrangement for a definite number of years; nonfreehold. B. Is an estate or interest owned by more than one person, each having equal rights to possession and enjoyment; the interest a deceased tenant conveys to surviving tenants by specific wording in the deed establishing the joint tenancy. C. Is the surface of the earth and everything attached to it by nature. D. Is tenancies whose durations are limited to the life of some person; freehold.

B. Is an estate or interest owned by more than one person, each having equal rights to possession and enjoyment; the interest a deceased tenant conveys to surviving tenants by specific wording in the deed establishing the joint tenancy.

**Land** A. Is the surface of the earth and everything attached to it by nature. B. Is a tenancy in real property held under a lease arrangement for a definite number of years; nonfreehold. C. Is tenancies whose durations are limited to the life of some person; freehold. D. Are legal rights related to land abutting an ocean, sea, or lake, usually extending to the high-water mark.

A. Is the surface of the earth and everything attached to it by nature.

**Leasehold Estate** A. Is an estate in real property in which ownership is for a determinable time period, as in a lease. B. Is tenancies whose durations are limited to the life of some person; freehold. C. Are legal rights related to land abutting an ocean, sea, or lake, usually extending to the high-water mark. D. Is a tenancy in real property held under a lease arrangement for a definite number of years; nonfreehold.

D. Is a tenancy in real property held under a lease arrangement for a definite number of years; nonfreehold.

**Life Estate** A. Is an estate in real property in which ownership is for a determinable time period, as in a lease. B. Is tangible and movable property (transferred by bill of sale); property not classified as real property. Also called personalty or chattel. C. Is tenancies whose durations are limited to the life of some person; freehold. D. Are legal rights related to land abutting an ocean, sea, or lake, usually extending to the high-water mark.

C. Is tenancies whose durations are limited to the life of some person; freehold.

**Littoral Rights** A. Is a written agreement between the owner-corporation and the tenant-stockholder in a cooperative apartment. B. Are legal rights related to land abutting an ocean, sea, or lake, usually extending to the high-water mark. C. Is an estate in real property in which ownership is for a determinable time period, as in a lease. D. Is tangible and movable property (transferred by bill of sale); property not classified as real property. Also called personalty or chattel.

B. Are legal rights related to land abutting an ocean, sea, or lake, usually extending to the high-water mark.

**Nonfreehold Estate** A. Is an estate in real property in which ownership is for a determinable time period, as in a lease. B. Is a written agreement between the owner-corporation and the tenant-stockholder in a cooperative apartment. C. Is land, including the air above and the earth below, plus any permanent improvements affecting the utility of the land; real property; property that is not personal property. D. Is tangible and movable property (transferred by bill of sale); property not classified as real property. Also called personalty or chattel.

A. Is an estate in real property in which ownership is for a determinable time period, as in a lease.

**Personal Property** A. Is a written agreement between the owner-corporation and the tenant-stockholder in a cooperative apartment. B. Is any interest or estate in land, including leaseholds, subleaseholds, business opportunities and enterprises, and mineral rights; real estate. C. Is tangible and movable property (transferred by bill of sale); property not classified as real property. Also called personalty or chattel. D. Is land, including the air above and the earth below, plus any permanent improvements affecting the utility of the land; real property; property that is not personal property.

C. Is tangible and movable property (transferred by bill of sale); property not classified as real property. Also called personalty or chattel.

**Proprietary lease** A. Is the party designated to receive an estate at the end of a life estate. B. Is land, including the air above and the earth below, plus any permanent improvements affecting the utility of the land; real property; property that is not personal property. C. Is a written agreement between the owner-corporation and the tenant-stockholder in a cooperative apartment. D. Is any interest or estate in land, including leaseholds, subleaseholds, business opportunities and enterprises, and mineral rights; real estate.

C. Is a written agreement between the owner-corporation and the tenant-stockholder in a cooperative apartment.