Chapter 3: License Law And Commision Rules

Question 1

Powers of The Department

The Department does not have power to issues injunctions against unlicensed persons but may seek what?

Answer 1

An injunction from the courts for failure to follow a Department order.

The Department also has power to issues a cease-and-desist order against an unlicensed person for violation of rule or law under its administration.

Question 2

Powers of the Commission

Executive Powers

How may the executive powers be exercised?

Answer 2

By the chairperson acting alone or delegates by quorum vote to any other Commission member

Question 3

Disciplinary Authority of the Commission

How may a licensee who is found guilty of a violation of F. S. 475 or any rule enacted under the Commission be disciplined?

Answer 3

1. Issued a reprimand or administrative fine up to $5,000 per offense
2. Be placed on probation or
3. Have license suspended for up to 10 years or permanently revoked

Question 4

Renewal

First Renewal

A licensee must renew by completing the post licensing requirements prior to expiration of initial license. Failure to do so will result in what?

Answer 4

A null and void license status

Question 5

Renewal

Subsequent Renewals

What status will a license be placed if the licensee fails to renew his license prior to the expiration in other than the initial license period?

Answer 5

Involuntary inactive

Question 6

How long can a license be in an involuntary inactive status?

Answer 6

2 years

Question 7

Void and Ineffective License

What happens to all persons employed by a broker if the broker’s license is suspended, revoked, or otherwise void or ineffective?

Answer 7

Their license will be automatically inactive

Question 8

Group License

Describe a group license

Answer 8

A single license obtained by sales associate or broker associate who works for one owner-developer with affiliated organizations which provides real estate services in different geographical areas

Question 9

Multiple Licenses

True or False

A broker cannot be issued additional licenses in two or more capacities simply by requesting multiple licenses

Answer 9

False

A broker CAN be issued additional licenses in two or more capacities by requesting multiple licenses.