Pre-Sales Test Flashcards
The DPBR does not have the authority to issue
a - cese and desist order
b - subpoena
c - injunction
d - notice of noncompliance
c - injunction
Real Estate Brokers are not required to be knowlagable regarding?
a - marketing
b - valuation
c - property transfer
d - accounting
d - accounting
A sales associate is a _____________ of the brokers prinicapal
Subagent
A real estate brokerage corp must have a least ________
active broker serving as an _________
1 - officer
A licenssee who disagrees with an order of the FREC my file an appel withing ______ days
30
What rights does a property owner have to use the water flowing over or through his land
a - riparian
b - littoral
c - flowage
d - aquifer
a - riparian
The commisions ability to impose diciplinary actions against the licenses is known as?
Quasi Judical Power
The post license educational course for sales associates
consists of _____ hours
45
The catagory of construction that applies when a property owner employs a contrator to build on his lot is called?
Custom Build
Fairness and honesty are required of all licensees in which realationship?
a - single agency
b - transaction brokerage
c - no brokerage relationship
d - any real estate transaction
d - any real estate transaction
The four unities required to create a joint tenancy are?
P
I
T
T
possession
intrest
time
title
Establishing educational requierments for licensees is an example of the excercise of ____________ power by the commision
Executive
The estate that may be created by the same or difrent deeds is the tenancy
________ _______
in common
A broker associate is a?
a - broker
b - sales associate
c - broker employed as a sales associate
d - sales associate emplyed as a broker
c - broker employed as a sales associate
the oldest and least accurate method of legally describing property is the
____________ method
monuments
Anyone licensed or not can be a ________ _________ in a
real estate brokerage limited partnership
limited partner
A legal discription which uses topographical features as boundary
markers has been described using the
a - metes and bounds method
b - government survey method
c - plat method
d - monuments method
d - monuments method
the metes and bounds legal descriprtion begins at the
a - starting point
b - point of beginning
c - initial referance point
d - point of referance
b - point of beginning
The warrant in a deed in which the grantor assures the grantee freedom from
hostial claims against their wonership is the
a - habendum clause
b - warrant of seisin
c - warrant of quiet enjoyment
d - reddendum clause
c - warrant of quiet enjoyment
Broker Joan just recived an oral offer to purchase listed property. No ernest money accompanied the oral offer. Joan….
a - must present the offer
b - should not present the offer since no ernest money was recived
c - must advise the customer an earnest money deposit is required
d - should reject the offer on behalf of the seller
a - must present the offer
A broker
a - can refuse offers on behalf of the principle
b - can buy the listed property without consent of the principle
c - must follow all legal instructions of the principle or withdraw
d - must ignore the instructions of a principle when the instructions are not in the best intrest of the principle.
c - must follow all legal instructions of the principle or withdraw
Broker Tom sold a property listed with broker Alice. Tom was unable to attend the closing and broker Alice collected the entire commission. Should broker alice refuse to pay broker Tom his share of the commission, broker Alice could be charged with
a - failure to account
b - collecting an overage
c - commingling
d - fraud
a - failure to account
A sales associate failed to complete the required post license
education prior ro renewal. What is the status of his license?
a - revoked
b - suspended
c - involuntarily inactive
d - void
d - void
Concentrating on one neighberhood or style of property is called?
Farming
A contractor who builds on his own lot in hopes of finding a purcheser upon compleation is building on?
Speculation
Sales associates can be stockholders in a brokerage corperation but may not
be an __________ or ____________
Sales associates can be stockholders in a brokerage corperation but may not
be an __________ or ____________
officer Director
The three areas of expertise real estate licensees bring to the transaction are?
Valuation - marketing - property Transfer
An agent whose continuing authority is limited to a single trade or buissness
has a __________ agency
general
Morgatge Brokers are licensed in FLorida by the?
Department of Finacial Services
Which fiduciary duty would a broker breach by failure to advise a principal regarding the vaule of the owners property prior to accepting a listing?
a - loyalty
b - disclosure
c - accounting
d - obedience
b - disclosure
When a broker has conflicting demands for funds held in escrow, he must report the conflict to the FREC with in _______ days and take an action to resolve the
dispute within ______ days
15 and 30
An investigator with the department may express any personal opinion concerning an investigation
true / false
true
A general agency exists when a
a - broker is employed to market a property
b - sales associate is working with a customer
c - sales associate is employed by a broker
d - broker is employed by a buyer
c - sales associate is employed by a broker
The Rule Making athority of the FREC is called __________ _________ power
Quasi Legislative
Brokers are required to retain copies of all disclosure documents for transactions that have resulted in a contract being entered into for a period of at lest _____
years
5
Operating in a careless, reckless, excessively negligent manner may result in
a broker being charged with ___________ _________
Culpabile Neglegence
An agent is empowered to perform a single act on behalf of his principle
has a _________ agency relationship
special
A licensee that fails to renew when required to do so will have his license placed on ____________ ___________
Involuntary Inactive
Appraisers that are registered, licensed or certified under F.S. 475, part II must be
used in?
a - all appraisles
b - the appraisal of residental property
c - the appraisal of nonresidential property
d - federally related transactions
d - federally related transactions
The S 1/2 OF THE SW 1/4 OF THE SE 1/4 OF SECTION 14 contains how many acers
20
The four unities required to create a joint tenancy are
a - intrest - survivorship - possession - and time
b - possession - deed - title - and time
c - possession - intrest - time - and title
d - person - use - interest - purpose
c - possession - intrest - time - and title
Educational requierments of applicants for a real estate license are promulgated under which athourity of the FREC?
a - ministerial
b - executive
c - quasi-legislative
d - quasi-judicial
b - executive
After compleation of construction of a subdivision, the streets, sidewalks and common areas are frequently conveyed to the city or county in a process called?
Dedication
the most accurate method of legally describing property is
the ________ ________ _______ method
meets and bounds
An individual who dies leaving no will has died
a - in defult
b - intestate
c - in bound
d - escheat
b - intestate
Paul and Paula are husband and wife. They own property as tenants by the entireties. They divorce without a property settelment. Unless otherwise decreed by a court they now hold title as?
a - joint tenants
b - tenants in common
c - tenants by the entireties
d - joint tenants with the right of survivorship
b - tenants in common
A broker associate acts in the capacity of a __________ _________
Sales Associate
_______ rights allow a property owner whose property boarders
on a river or stream to use the water
Riparian
How many acers are contained in a parcel of land described by the following
legal description
N 1/2 OF THE NE 1/4 OF THE SE 1/4 OF THE SW 1/4 OF SECTION 12, T24S, R13E
5
The Florida real estate commission held a meeting for the purpose of passing a new rule. This is an exercise of which commission power?
a - executive
b - quasi - legislative
c - quasi - judicial
d - ministerial
b - quasi - legislative
The maximum amount that will be paid by the recovery fund based on the actions of a licensee is_________
150k
A sales associates license will be ________ if he does not compleate
required post license education during his inital license period
void
A citation may be issued to a licensee if
a - no substantial threat to the public health, saftey and wealfare exist
b - the hearing officer recommends one
c - a finial order was served on the licensee
d - a formal complaint has been recived by the department
a - no substantial threat to the public health, saftey and wealfare exist
A tenancy for years must have a definite beginning date and a definate _________
________
ending date
The balance in the recovery fund is maintained by ________ and ________ paid by licensses
fines and fees
A violation cited in the notice of noncompliance must be corrected with in
______ days
15
Calculate the acerage of a parcel having the following legal description
the W 1/2 OF THE SW 1/4 OF THE NW 1/4 OF THE NE 1/4 AND THE SE 1/4 OF THE SW 1/4 OF THE NW 1/4 OF THE NE 1/4 OF SECTION 28, T19S, R10E
7.5
A group license would be requested when a
a - broker servers as the only active broker in two or more brokerage corps
b - broker employs two or more sales associates
c - sales associate is employed by both a broker and an owner - employer
d - sales associate is employed by an owner - employer and is required to work from more then one geographic location.
d - sales associate is employed by an owner - employer and is required to work from more then one geographic location.
A transaction broker
a - is an agent of both parties
b - has fiduciary duties to the seller
c -has fiduciary duities to the buyer
d - provides limited representation to both parties
d - provides limited representation to both parties
a meets and bounds legal descriptions begins at a point called the
_________ ______ ________
point of beginning
citations issued by investegators assigned by the Division of Real Estate must be paid within ______ days
30
A tenancy at will is best described as
a - a lease which can be terminated at the will of the landlord or tenant by giving notice
b - any lease for less then a year
c - a written lease which provides a begining and ending date
d - any tenancy created by a lease
a - a lease which can be terminated at the will of the landlord or tenant by giving notice
a ttract of land measures 660 feet along the highway and contains
20 acers. How deep is the tract?
1,320’
What is the maximum amount that can be paid form the Recovery Fund to three persons who suffered monetary loss as a result of a licensee and have been awarded a single judgment?
a - 150k
b - 50k
c - 25k
d - 10k
b - 50k
A joint teancy and a tenancy by the entireties both
include a right of __________________
survivorship
A broker associate licensed with a real estate brokerage partnership
a - can be a member of the partnership
b - can make earnest money deposits
c - cannot manage the office
d - is never allowed to supervise licensed associates
b - can make earnest money deposits
Two or more brokers that share office space but do not maintain their separate status as independent brokers could be charged with
__________ ___________
ostensible part
Registration of an active sales associate with the Department refers to?
a - placing and keeping on record the sales associates name and address
b - placing and keeping on record the sales associates name and home address
buisness address and address of his broker
c - the brokers name and address
d - placing and keeping on record the sales associates name and address and the buisnness address of his employer
b - placing and keeping on record the sales associates name and home address
buisness address and address of his broker
What type of notice is considered to be the best evidence of ownership
a - actual
b - constructive
c - implied
d - expressed
d - expressed
