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A1 Florida Real Estate Sales Associate License > Chapter 3: License Law and Commission Rules > Flashcards

Chapter 3: License Law and Commission Rules Flashcards

1
Q

Condo rentals in Florida are regulated by the Division of _____ within the DBPR.

A

Florida Condominiums, Timeshares, and Mobile Homes

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2
Q

Florida residential home sales are regulated by the Division of _____ within the DBPR.

A

Real Estate

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3
Q

The DBPR offices are located in ______.

A

Tallahassee

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4
Q

DRE stands for _____.

A

Division of Real Estate

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5
Q

The DRE offices are located in _____.

A

Orlando

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6
Q

The seven members of FREC are appointed by the _____ and confirmed by the _____.

A

Governor

Senate

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7
Q

_____ member(s) of the FREC must be actively licensed real estate brokers for at least 5 years.

A

4

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8
Q

_____ member(s) of the FREC may be an actively licensed broker or sales associate.

A

1

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9
Q

_____ member(s) of the FREC must be lay.

A

2

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10
Q

FREC members are appointed for a _____ term.

A

4 year

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11
Q

FREC members receive an allowance of _____ per day plus expenses.

A

$50

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12
Q

FREC meets at least once every _____.

A

month

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13
Q

A quorum is a _____ of members.

A

majority

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14
Q

The power of the FREC to investigate complaints against licensees is an example of their _____ powers.

A

executive

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15
Q

The powers of the FREC to make and pass rules regarding licensees is an example of their _____ powers.

A

quasi-legislative

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16
Q

The power of the FREC to deny applications, reprimand, or suspend licensees is an example of their _____ powers.

A

quasi-judicial

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17
Q

Since the FREC has no staff, ministerial duties are performed by the _____.

A

DRE

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18
Q

Licensees may be fined up to _____ per offense.

A

$5,000

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19
Q

Licenses of licensees can be suspended up to ______ years.

A

10

20
Q

true/false: The Commission is required to report any violation of law to the State Attorney General’s office for possible prosecution.

A

true

21
Q

An applicant’s _____ is the first license recieved in the category in which they’re qualified.

A

initial issue

22
Q

Upon passing the exam, an applicant receives _____ license status.

A

inactive

23
Q

Renewals are effective when _____ by the Department.

A

received

24
Q

A licensee who choses not to be employed by a broker will be _____ _____ .

A

voluntarily inactive

25
Q

A voluntarily inactive license status can be maintained for a period of _____.

A

forever

26
Q

true/false: An inactive licensee must maintain license fees and CE courses.

A

true

27
Q

Licensees who do not request renewal, do not pay necessary fees, or do not maintain CE requirements will automatically be placed in _____ status.

A

involuntarily inactive

28
Q

Involuntarily inactive licensees can maintain that license status for no more than _____.

A

2 years

29
Q

Months 13-24 after becoming involutarily inactive require a _____ and _____ before becoming active again.

A

28-hour reactivation course

additional fee

30
Q

When a broker’s license is suspended, all other broker associates and sales associates licenses underneath them become _____.

A

inactive

31
Q

Licensees _____ turn in their license if they no longer want to practice real estate.

A

can

32
Q

One umbrella corporation has many smaller companies. A sales associate is registered to sell properties for all of those companies. This is called a _____ license.

A

group

33
Q

true/false: Brokers can be issued multiple licenses if they are broker of record for multiple offices.

A

true

34
Q

Real estate schools must have permits for each _____ and each _____.

A

location

instructor

35
Q

The FREC Education and Research Foundation was founded in 1986 by a transfer of _____ from the Real Estate Trust Fund.

A

$3,000,000

36
Q

FREC powers and duties

A
  • Adopt a seal
  • Foster education
  • Make determinations of violations
  • Regulate professional practices
  • Create and pass rules and regulations
  • Establish fees
  • Grant and deny applications for licensure
  • Suspend or revoke licenses and impose fines
37
Q

Structure of the FREC

A

There are seven FREC members total: •
Five members who are licensed as real estate professionals •
Four must have held active licenses for five years •
One must be an active as a broker or sales associate for at least two years •
Two consumer members who have never been licensed •
One must be 60 years of age or older

38
Q

Who appoints and confirms the FREC members?

A

Governor and confirmed by the Senate

39
Q

The Director of the DRE coordinates the duties of FREC with the _____

A

DBPR

40
Q

The Director of the Division of Real Estate is appointed by the _______

A

Secretary of the DBPR and Confirmed by the FREC

41
Q

FREC Executive powers?

A

Regulate and enforce license law, foster education, adopt a seal, and establish fees.

42
Q

Quasi-Legislative Powers

A

Create and pass rules and regulations and regulate professional practices.

43
Q

FREC - Quasi-Judicial Powers

A

Grant or deny applications, suspend or revoke licenses and issue administrative fines, and make determinations of violations.

44
Q

The Secretary of the DBPR appoints ____ _____ _____ _____ ______ _____ _____ and they must be confirmed by the _____

A

The Secretary of the DBPR appoints the Director for the Division of Real Estate. The Director for the Division of Real Estate must be confirmed by the Florida Real Estate Commission.

45
Q

Licenses are renewed during one of two dates - Either

A

Licenses are renewed during one of two dates - Either March 31st or September 30th.

A1 Florida Real Estate Sales Associate License (20 decks)

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