Chapter 6 Flashcards
What type of misdemeanor is dissenting false or misleading advertising
Second degree misdemeanor
What type of violation is acting as a broker or sales associate without being the holder of a valid and current active lisence
Third degree felony
What is the penalty for acting as a broker without having active lisence
5 years in prison AND OR 5,000 fine
What is concealment
When broker fails to disclose information that is material to buyers decision
What is conversion
When a broker uses funds or other property that belongs to another for their personal or personal business use
What is culpable negligence
Reckless behavior
For example: forgetting to collect escrow deposit
What is misrepresentation
Missstatement or omission of facts
Is rendering an opinion of title a fraudulent activity
Yes
Can a realtor or broker have a lottery to sell a house
No only a developer
What is a person hit with a complaint called
Responder
What is person filling complaint called
Complainant
What is a legally sufficient complaint
One that alleges a violation of law or rule
When can the administrative law judge issue subpoenas for witnesses and compel attendance of a witness
During a formal or informal hearing
What can you do if as a licensee you do not agree with a final order of the commission
How many days do they have?
Florida district court of appeals the overrule FREC
30 days
Can a realtor be eligible to collect form real estate recovery fund
Yes if they acted in capacity of buyer or seller ONLY
Who maintains the recovery fund
Fees and fines paid by lisencees
What is the maximum amount of money that can be paid from real estate recovery fund for a single judgment
50,000
What is the max amount of money to be paid from the real estate recovery fund against someone with MULTIPLE JUDGMENTS
150,000
