Chapter 3- License Law And Commission Rules

Question 1

What is the purpose of the Department of Business and Professional Regulation?

Answer 1

To act as a Consumer Protection Agency

Question 2

If a Sales Associate fails to complete their 14-hours of Continuing Education before their license expires March 31, What is the status of their license on April 1?

Answer 2

The license is involuntarily inactive

Question 3

An initial license is issued in October of 2018. When must the license be renewed in order to prevent expiration?

Answer 3

License first renewal dates are either March 31 or September 30, whichever is closest to the license anniversary within the 2 year renewal period in this case September 30, 2020.

Question 4

Who issues real estate licenses?

Answer 4

The Department of Business and Professional Regulations (DBPR) issues the license.

Question 5

How many of the Members of FREC are not and never have been Brokers or Sales Associates?

Answer 5

Two

Question 6

What is the Maximum fine that can be levied by FREC for any violation of 475 F.S. and 455 F.S.?

Answer 6

$5000

Question 7

How many members of the FREC must be active licensed brokers?

Answer 7

Four

Question 8

Which of the following is FREC NOT required to do?

A-Issue a Florida sales associate’s real estate license
B-Approve real estate education courses
C-Inspect and Audit Licensees and business practices
D-Impose Disciplinary Actions

Answer 8

Issue a Florida sales associate’s real estate license that is the responsibility of DBPR.

Question 9

After passing the Sales Associate exam when does a license become effective?

Answer 9

After written notice is received that the applicant passed the examination

Question 10

The DBPR has powers of enforcement in how many areas?

Answer 10

Three