Chapters 1-5

Question 1

A transaction broker relationship provides _______ representation to a customer.

Answer 1

limited

Question 2

A no brokerage relationship provides ______ representation for a customer.

Answer 2

no

Question 3

Concentrating on one area or style of property is known as ________.

Answer 3

farming

Question 4

Residential transactions: agricultural property of ______ acres or less.

Answer 4

10

Question 5

Sales associates that offer opinions of value do not prepare appraisals, they prepare a ________ _________ _________.

Answer 5

comparitive market analysis

Question 6

The Florida Real Estate License Law was oficially designated Chapter ______ of the ________ _________ in 1941.

Answer 6

475

Florida Statutes

Question 7

An applicant for a Florida real estate license ________ required to be a resident of the state of Florida.

Answer 7

Is not

Question 8

Members of the Florida Bar in good standing _______ required to take postlicensing requirements.

Answer 8

are

Question 9

An applicant must score ____ out of 100 on the state sales associate exam.

Answer 9

75

Question 10

Sales associate post-license eduacation is ______ hours.

Answer 10

45

Question 11

DRE stands for _____.

Answer 11

Division of Real Estate

Question 12

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

Answer 12

Governor

Senate

Question 13

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

Answer 13

4

Question 14

FREC members are appointed for a _____ term.

Answer 14

4 year

Question 15

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

Answer 15

executive

Question 16

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

Answer 16

$50

Question 17

An agent authorized by the principal to perform a single act.

Answer 17

special agent

Question 18

An agent authorized by the principal to act of their behalf in all matters.

Answer 18

universal agent

Question 19

A sales associate is a _____ agent of the broker.

Answer 19

general

Question 20

Provides limited representation to the customer(s). No fiduciary obligation.

Answer 20

transaction broker

Question 21

_____ _____ relationships require a fiduciary commitment to the principal.

Answer 21

Single agent

Question 22

Each active broker is required to maintain an office, which must be registered with the _____.

Answer 22

DBPR

Question 23

A broker must maintain books, records, and files pertaining to transactions of others in the office for at least _____ years.

Answer 23

5

Question 24

A _____ is an ad that does not contain the registered name or trade name of the broker.

Answer 24

blind ad

Question 25

A broker operating as a sole proprietorship must have a sign containing: the broker’s trade name, if any, the name of the broker, and the words ______.

Answer 25

Lic./Licensed Real Estate Broker