Chapter 2

Question 1

Adjudication Withheld

Answer 1

When a criminal final judgment is withheld or not recorded in public record

Question 2

Broker

Answer 2

One who is licensed by the State of Florida to carry on the business of dealing in real estate. A broker may receive a commission for their part in bringing together parties in a real estate transaction

Question 3

Broker Associate

Answer 3

An individual qualified to be issued a broker’s license but who operates as a sales associate in the employ of another

Question 4

Caveat Emptor

Answer 4

“Let the buyer beware”

Question 5

Compensation

Answer 5

Any form of remuneration, payment, or value

Question 6

Florida Resident

Answer 6

A person that has resided in Florida for at least four months, or a person that is residing in Florida with an intent to remain for at least four months

Question 7

License

Answer 7

A document issued by the Department of Business and Professional Regulation, which certifies that the licensee is or was duly licensed on the effective date shown

Question 8

Nolo Contendre:

Answer 8

A plea of no contest entered in a criminal court of law

Question 9

Prima Facie Evidence

Answer 9

Evidence that is valid and admissible on its face requiring no further proof of authenticity

Question 10

Real Estate Services

Answer 10

Buy, advertise, rent, sell, auction, lease, and exchange (BAR SALE)

Question 11

Registration

Answer 11

Authorization by the state to place an applicant on the register (record) of officially recognized individuals and businesses

Question 12

Sales Associate

Answer 12

A licensed individual who, for compensation, is employed by a broker or owner/developer