Chapters 1-5 Flashcards
A transaction broker relationship provides _______ representation to a customer.
limited
A no brokerage relationship provides ______ representation for a customer.
no
Concentrating on one area or style of property is known as ________.
farming
Residential transactions: agricultural property of ______ acres or less.
10
Sales associates that offer opinions of value do not prepare appraisals, they prepare a ________ _________ _________.
comparitive market analysis
The Florida Real Estate License Law was oficially designated Chapter ______ of the ________ _________ in 1941.
475
Florida Statutes
An applicant for a Florida real estate license ________ required to be a resident of the state of Florida.
Is not
Members of the Florida Bar in good standing _______ required to take postlicensing requirements.
are
An applicant must score ____ out of 100 on the state sales associate exam.
75
Sales associate post-license eduacation is ______ hours.
45
DRE stands for _____.
Division of Real Estate
The seven members of FREC are appointed by the _____ and confirmed by the _____.
Governor
Senate
_____ member(s) of the FREC must be actively licensed real estate brokers for at least 5 years.
4
FREC members are appointed for a _____ term.
4 year
The power of the FREC to investigate complaints against licensees is an example of their _____ powers.
executive
FREC members receive an allowance of _____ per day plus expenses.
$50
An agent authorized by the principal to perform a single act.
special agent
An agent authorized by the principal to act of their behalf in all matters.
universal agent
A sales associate is a _____ agent of the broker.
general
Provides limited representation to the customer(s). No fiduciary obligation.
transaction broker
_____ _____ relationships require a fiduciary commitment to the principal.
Single agent
Each active broker is required to maintain an office, which must be registered with the _____.
DBPR
A broker must maintain books, records, and files pertaining to transactions of others in the office for at least _____ years.
5
A _____ is an ad that does not contain the registered name or trade name of the broker.
blind ad
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 ______.
Lic./Licensed Real Estate Broker
