Chapter 2: Law And Qualifications

Question 1

Who may qualify for a broker license?

Answer 1

Actively licensed real estate sales associates from another state or nation who have been licensed for at least 24 months (2 years) during preceding 5 years

Question 2

What requirements must be met for a sales associate to qualify for the broker license?

Answer 2

Have been licensed and operating under supervision of a broker for 2 years during the preceding 5 years

Question 3

When the applicant for a broker license chooses to continue employment as a sales associate subsequent to passing the state broker exam how will he/she be registered? And what capacity does he/she work?

Answer 3

As a broker associate

As a sales associate

Question 4

What two factors would not disqualify an applicant form acquiring a Florida real estate license?

Answer 4

Not being a citizen of the United States or a resident of Florida

Question 5

Answering Background Questions

Question 1 asks, “Have you ever been convicted or found guilty of, or entered a plea of nolo contendere (no contest) or guilty to, regardless of adjudication, a crime in any jurisdiction, or are you currently under criminal investigation?”

Which disclosure does this question require?

Answer 5

ANY criminal convictions, including felony or misdemeanor convictions or pleas (other than minor traffic offenses) regardless of adjudication

Question 6

Application Approval or Denial

Application denial.

If an application to take the state exam is denied what steps will the Department (DBPR) take?

Answer 6

DBPR will notify the applicant in writing identifying the reason for the denial and advising the applicant he/she has 21 days from the date of receipt to request a formal hearing before administrative law judge.

Question 7

Employment

Employment by Broker

From who may a sale associate or broker associate receive compensation for performing real estate services?

Answer 7

From no one other than his/her employing broker

Question 8

Employment

How many brokers can a sales associate or a broker associate work for at the same time?

Answer 8

1

Question 9

Employment by Owner-Developer

An owner-developer does not receive a real estate license but what must he/she do?

Answer 9

Register with the DBPR

Question 10

Sales Associate First Renewal

What status does the license of a sales associate who fails to complete the required 45-hour post-license course assume?

Answer 10

Void (licensee will be out of business)

Question 11

What must a sales associate do if his/her license becomes void?

Answer 11

Take the 63-hour pre-license course and pass another state exam

Question 12

Continuing Education (CE)

Broker associates and sales associate must complete 14-hours of CE and pay required fees excluding the first renewal period. If CE requirement is not met w/in renewal deadline what status will the licensee’s license be changed to?

Answer 12

Involuntary inactive

Question 13

Exempt from Licensure

Define Attorneys-in-fact

Answer 13

Persons granted authority under power of attorney to act for others in some capacity such as signing documents

Question 14

A sales associate failed to complete the required post-license education prior to renewal? What is the status of the license?

Answer 14

Void