Chapter 3 Terminology Flashcards
active license
A current, valid license registered with the DBPR. The status required to actively engage in the real estate business.
cancel
A license ceases to exist, effective as of the date approved by the Commission, and does not involve disciplinary action.
cease to be in force
A licensee cannot perform real estate services because certain events occur, such as when a broker changes business address.
current mailing address
The residential address a licensee uses to receive mail through the U.S. Postal Service.
current status
Indicates a licensee is up to date with respect to the DBPR’s licensure requirements.
executive
Duties related to the education of licensees, the regulating of professional practices, and the publishing of materials.
group license
A right granted a sales associate or broker associate to work various properties owned by affiliated entities under one owner developer.
involuntary inactive
The license status that results when a license is not renewed at the end of the license period.
ministerial duties
The duties of the Division of Real Estate that involve recordkeeping.
multiple licenses
Licenses held by a broker in two or more real estate brokerage firms.
null and void
The license status when a sales associate has failed to successfully complete post-license education prior to the first renewal of the license or when a licensee has failed to renew two or more renewal cycles; the license status has been involuntary inactive for more than 24 hours.
probation
An administrative penalty imposed by the FREC that allows the licensee to continue to practice real estate under the guidance of the FREC for a period of time while completing conditions specified by the FREC.
promulgates
The formal act of announcing a statute or an administrative rule. To publish and officially announce a new or amended rule or statute. The FREC may promulgate rules and regulations.
quasi-judicial
Powers delegated to the FREC to discipline real estate licensees for violations of real estate license law and FREC administrative rules.
quasi-legislative
Powers delegated to the FREC to enact rules and regulations, decide questions of practice, and validate records (imprint with FREC’s seal).
voluntary inactive
The license status that results when a licensee has met all the requirements for licensure, yet the licensee chooses not to engage in the real estate business and has requested that the license be placed in this status.
voluntary relinquishment
A licensee-respondent may choose to avoid a disciplinary hearing and relinquish the real estate license in lieu of discipline.
A current, valid license registered with the DBPR. The status required to actively engage in the real estate business.
active license
A license ceases to exist, effective as of the date approved by the Commission, and does not involve disciplinary action.
cancel
A licensee cannot perform real estate services because certain events occur, such as when a broker changes business address.
cease to be in force
The residential address a licensee uses to receive mail through the U.S. Postal Service.
current mailing address
Indicates a licensee is up to date with respect to the DBPR’s licensure requirements.
current status
Duties related to the education of licensees, the regulating of professional practices, and the publishing of materials.
executive
A right granted a sales associate or broker associate to work various properties owned by affiliated entities under one owner developer.
group license
The license status that results when a license is not renewed at the end of the license period.
involuntary inactive
The duties of the Division of Real Estate that involve recordkeeping.
ministerial duties
Licenses held by a broker in two or more real estate brokerage firms.
multiple licenses
The license status when a sales associate has failed to successfully complete post-license education prior to the first renewal of the license or when a licensee has failed to renew two or more renewal cycles; the license status has been involuntary inactive for more than 24 hours.
null and void
An administrative penalty imposed by the FREC that allows the licensee to continue to practice real estate under the guidance of the FREC for a period of time while completing conditions specified by the FREC.
probation
The formal act of announcing a statute or an administrative rule. To publish and officially announce a new or amended rule or statute. The FREC may promulgate rules and regulations.
promulgates
Powers delegated to the FREC to discipline real estate licensees for violations of real estate license law and FREC administrative rules.
quasi-judicial
Powers delegated to the FREC to enact rules and regulations, decide questions of practice, and validate records (imprint with FREC’s seal).
quasi-legislative
The license status that results when a licensee has met all the requirements for licensure, yet the licensee chooses not to engage in the real estate business and has requested that the license be placed in this status.
voluntary inactive
A licensee-respondent may choose to avoid a disciplinary hearing and relinquish the real estate license in lieu of discipline.
voluntary relinquishment
