Chapter 3 Quiz Flashcards
How does a person become a member of the Florida Real Estate Commission?
Appointed by the Governor and confirmed by the Florida Senate
Which of the Following Sanctions is not within the jurisdiction of the FREC?
1) Imprisonment
2) Revocation
3) Suspension
4) Letter of reprimand
Imprisionment
Sales associate Donna has started working with a new broker. Which of the following statements is correct?
1) THE DRE must be notified of her change of employer within 10 days
2) The DRE must be notified of her change in employer within 60 days
3) If the DRE is not timely notified, Donna’s license will be declared involuntary inactive
4) It the DRE is not timely notified, Donna’s license will be declared cancelled
The DRE must be notified of her change of employer within 10 days
Randy has just passed his state real estate exam. His initial license status will be:
1) Active
2) Voluntary inactive
3) Involuntary inactive
4) Current
Voluntary Inactive
If a license has been involuntary inactive for 15 months, what must the licensee do in order to reactivate their license?
1) Submit the proper renewal form, pay the appropriate fees (including late fees) and confirm the continuing education requirements have been fulfilled
2) Submit the proper renewal form and pay the appropriate fees
3) Submit the proper renewal form, pay the appropriate fees (including late fees) and show completion of 28 hours, in-class reactivation credit
4) A license cannot be reactivated after 15 months
Submit the proper renewal form, pay the appropriate fees (including late fees) and show completion of 28 hours, in-class reactivation credit
*Note:
Benchmark is 12 months
Between 12 and 24 they have to take 28 additional hours
After 24, null and void
How many FREC members hold a real estate license?
5
Broker John resigned yesterday. All his associates are now:
1) Cancelled
2) Involuntary inactive
3) Voluntary Inactive
4) Active
Involuntary Inactive
If Derek renews his license on September 30, 2008, and he never goes to real estate school again, how many years will it take for his license to become null and void?
2 years (24 months)
If Jorge wants to be the broker of record on two businesses simultaneously, which type of license should he acquire?
1) Group
2) Multiple
3) Complex
4) Developer
Multiple
Which of the following is an example of the FREC quasi-legislative powers?
1) Make rules
2) Enforce rules
3) Discipline licensees
4) Regulate Licensees
Make Rules
A group license is:
1) Used for large real estate brokerages
2) Allows licensees to work for various properties owned and developed by the same individuals(s), although the properties are owned in the name of different interlocking or affiliated entities
3) Allows brokers to be the broker of record for more than one real estate brokerage
4) Is available when a licensee chooses not to have an active license and files a 400.5 form requesting a group license
Allows licensees to work for various properties owned and developed by the same individuals(s), although the properties are owned in the name of different interlocking or affiliated entities
Bill works for broker Jeff, but broker Jeff’s license has just been suspended for a year and no replacement broker is appointed. Bill’s license status will become?
Involuntary Inactive
The FREC is located in?
Orlando
If a brokerage has their only broker of record resign, how many days does the brokerage have to appoint a replacement and avoid cancellation?
14
If a license expired 28 months ago, what is its current license status?
Null and Void
If a sales associate license is voluntary inactive and expires on Sept. 30th, but the licensee has not completed their 14 hour continuing education, the license will be declared_______?
Involuntary Inactive
Which of the following could cause sales associate Jim’s license to become involuntary inactive?
1) Jim didn’t complete 14 hrs of CE before his license expired
2) Jim’s employing broker was suspended
3) Jim’s employing brokerage had its registration cancelled
4) All of the above
All
A group license:
Allows licensees to work for various properties owned and developed by the same individuals, although the properties are owned in the name of different interlocking or affiliated entities
Bill works for Broker Jeff, but Broker Jeff’s license has just been suspended for a year and no replacement broker is appointed. Bills license status will become:
1) Cease to be in force
2) Void
3) Cancelled
4) Involuntary inactive
Involuntary inactive
The Florida Real Estate Commission is located in ______?
Orlando
If a brokerage has their only broker of record resign, how many days does the brokerage have to appoint a replacement and avoid cancellation
14 days
If Kathy’s license expired 28 months ago, what is her license status now?
1) Voluntary Inactive
2) Null & Void
3) Cancelled
4) Involuntary inactive
Null & Void
If a sales associate license is voluntary inactive and expires on Sept 30th, but the licensee has not completed their 14 hours continuing education, the license will be declared:
1) Involuntary Inactive
2) Suspended until the continuing education hours are completed
3) Cease to be in force
4) Suspended until the continuing education hours are completed and the late fee is submitted
Involuntary Inactive
Which of the following could cause sales associate Jim’s License to become involuntary inactive?
1) Jim did not complete 14 hrs of continuing education before his license expired
2) HIs employing broker was suspended
3) His employing brokerage had its registration cancelled
4) All of the above
All of the above
