Chapter 2 keywords Flashcards
What is Adjudication withheld?
It typically means that a sentence such as probation community service, or a fine was imposed against the defendant, but no conviction of guilt was imposed any offenses, for which adjudication was withheld, must be disclosed
What is a broker?
It is a person who performed services of real estate as an agent for another, and receives compensation for those services, either directly or indirectly.
A broker must maintain an office, and may hire sales associates or broker associates to perform services of real estate on their behalf, and they receive their compensation directly from their employee broker, never directly by the customer 
What is the requirement to become a broker?
A licensed sales associate who wishes to be a broker must have been employed, and there are one or more actively licensed brokers for at least 24 months within the preceding five years before becoming eligible to take the state exam 
What is a broker associate?
An applicant for a broker license may choose to continue employment and a sales associate capacity with a current employer, subsequent to passing the state broker exam he will be registered as a broker associate
What is compensation?
 includes anything or any service of value for which is paid received, expected to be paid or received an exchange for the perform service
What is continued education?
License sales associates must also complete all post license requirements prior to their initial license, expiration in order to keep their license and continue practicing after that ongoing biennial (every two years) continuing education requirements must be met to maintain their license 
What is expunge?
In order to have recorders expunged, the defendant must file a petition for expunction with the the courts were the case was filed courts do not automatically expunge criminal records
What is a Florida resident?
Residency is defined as anyone who has resided in the state, four months or more during the previous year, or who presently resides in Florida with intent to reside continuously for a period of four months or more residency can include a recreational vehicle, hotel rental, unit or any temporary or permanent location in Florida
What is licensure/registration?
Licensure: the use of the term license with regards to real estate indicates an individuals right to provide real estate services
Registration : refers to the placing and keeping on record the name and address of an individual or business.
DRE or the division maintains a registration list of all brokers, sales associates and businesses that employees licenses
What is a mutual recognition?
The state of Florida has entered in contractual agreements, referred to as mutual recognition with a limited number of states that recognize the similarity in the contact of their mutual educational and experience requirements for real estate licensing 
What is the difference between mutual recognition and reciprocity?
Mutual recognition applies to certain states, and is not the same as reciprocity, which would allow for licenses from one state to practice in another state.
Fla does not have reciprocity with any other states would regard to real estate
What is a NOLO contendere ?
No contest
Or is the definition of an owner developer?
An owner developer is an individual or entity who is in the business of buying owning and or development real estate. The owner developer must be registered with the department DBPR, but does not receive a real estate license. 
Sales or broker associates act as the owner developers, agent and performance services of real estate, and can perform services for compensation only with regards to property belonging into owner developer.
Owner developer and hire unlicensed cells as long as they are paid as salary
What are the post license education requirements
For the first license renewal to complete post licensing requirements:
A- complete the required, sales associate or broker post licensed education and pass the course final exam
B- pay renewal fee
Pre-license education
. Complete the requires sales associates or broker pre-licensed education and pacify exam with a score of 70% or higher
. Submit an application for estate exam along with payment of a fee for the initial license.
. Submit electronic parts that will be used as background check or determine any criminal record.
. Pass the state exam with a score of 75% or higher.
. Eaton employment at file employment information to obtain an active license
.
