Chapter 2 ( Real Estate Licence Law And Qualifications For Licensure )

Question 0

The real estate license law serves what purpose?

. To protect the public

. To protect licensees

. To clarify the law

. To grant licenses

Answer 0

. To protect the public

Question 1

The Florida Real Estate Commission was first created in what year?

.1932

.1925

.1923

.1919

Answer 1

.1925

Question 2

The Florida Real Estate Commission Was Created to

. Protect the public

. Administer and enforce the law

. Discipline Licensees

. Award professional designations

Answer 2

. Administer and enforce the law

Question 3

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

. Revoked

. Suspended

. Involuntary inactive

. Void

Answer 3

. Void

Question 4

Registration of an active sales associate with the department refers to

. Placing and keeping on record the sales associate’s name and home address

. Placing and keeping on record the sales associate’s name, home address and business address of his or her employing broker

. The brokers name and business address

. Placing and keeping on record the sales associate’s name, and the business address of his or her employer

.

Answer 4

. Placing and keeping on record the sales associate’s name, home address and business address of his or her employing broker

Question 5

Owner employers of licensed real estate sales associates are allowed to pay them

. On a salary basis only

. On a commission basis only

. A commission, but not a bonus

. A commission or a salary

Answer 5

. A commission or a salary

Question 6

To qualify for a real estate broker’s license, an applicant must have been employed for a minimum of

. 6 months under one actively licensed broker

. 24 months under one actively licensed broker

. 24 months under one or more actively licensed brokers

. 6 months under one or more actively licensed brokers

Answer 6

. 24 months under one or more actively licensed brokers

Question 7

How many hours of post license education are required to renew a broker’s license?

. 14
. 30
. 45
. 60

Answer 7

. 60

Question 8

Which service does NOT require a real estate license?

. Leasing

. Mortgaging

. Buying

. Selling

Answer 8

. Mortgaging

Question 9

Information that appears on a Florida real estate license does NOT include

. The seal of the state of Florida

. An expiration date

. The signature of the governor

. The name of the secretary of Business and Professional Regulation

Answer 9

. The signature of the governor

Question 10

How long can a voluntary inactive license remain in that license status

. 2 years

. 4 years

. 10 years

. Indefinitely

Answer 10

. Indefinitely

Question 11

To qualify for a real estate license an applicant must

. Be a citizen of the United States

. Be a Florida residence

. Be at least 21 years of age

. Have a high school education or equivalent

Answer 11

. Have a high school education or equivalent

Question 12

An attorney in fact

. Must be a member of the Florida bar

. May be paid commission for services of real estate

. Is authorized by a power of attorney to act for another

. Is required to hold an active real estate license

Answer 12

. Is authorized by a power of attorney to act for another

Question 13

Which choice describes an exemption from the licensing requirements of Florida Statute 475?

. Partners in real estate partnerships that receive compensation in excess of their interest in the partnership for performance of real estate services on behalf of the partnerships

. Condominium managers paid on a commission basis for rentals of less than 1 year

. Appraisers certified under Florida statute 475, Part II, when performing brokerage

. Attorneys performing legal duties in connection with real estate transaction

Answer 13

. Attorneys performing legal duties in connection with real estate transaction

Question 14

An actively licensed attorney that is a member in good standing with the Florida bar

. May charge commissions in connection

. Is exempt from continuing education requirement to maintain a real estate license

. Is not allowed to simultaneously hold a real estate license

. May be licensed as a broker but not as a sales associate

Answer 14

. Is exempt from continuing education requirement to maintain a real estate license

Question 15

A broker associate is a

. Broker

. Sales associates

. Broker employed as a sales associate

. Sales associate employed as a broker

Answer 15

. Broker employed as a sales associate

Question 16

The agreement the state of Florida has with some other states that recognizes the similarity in education and experience required for licensees is called

. Reciprocity

. Mutual recognition

. Cooperative licensure

. Intrastate licensing

Answer 16

. Mutual recognition

Question 17

A plumber has been appointed by a court to appraise a small business. The plumber

. Is in violation of F.S. 475

. Is allowed to charge a commission

. May do so and be paid a fee

. Must be licensed under F.S. 475, Part II

Answer 17

. May do so and be paid a fee

Question 18

Exemptions from real estate license law do NOT include

. Employees of a corporation being paid on a salary basis

. Partners in a partnership that receive their pro rata share of the profits

. Managers of condominiums renting units within the complex for periods up to one year.

. Funeral directors

Answer 18

. Funeral directors