Real Estate Course Chapter 3

Question 1

The FREC is consists of how many members?

Answer 1

7

Question 2

Of the FREC’s 7 members, define their composition.

Answer 2

5 are professional members (4 must be licensed brokers have held active licenses during the five years preceding appointment, one can be a broker or sales associate who has held an active licenses during the two years preceding appointment.)

The two remaining members are consumer (unlicensed) who have never been in real estate

Question 3

Who appoints the commission members of the FREC?

Answer 3

The Governor, subject to confirmation by the state Senate. Each member of the commission is accountable to the Governor, not the DBPR for proper performance

Question 4

The FREC’s powers and duties fall into what three general areas?

Answer 4

Executive powers - to regulate and enforce the license law
Quasi-legislative-the power to enact and revise administrative rules.
Quasi-judicial-the power to grant or deny license applications, to determine license law violations, and to administer penalties.

Question 5

Do the powers of the FREC extend to criminal actions?

Answer 5

No

Question 6

What division processes all license applications, license fee, issues all licenses ad license renewal notifications for the Department?

Answer 6

The Central Intake Unit

Question 7

Who appoints the Director of The Division of Real Estate (DRE)?

Answer 7

The Secretary of the DBPR subject to approval by majority vote of the FREC.

Question 8

New applicants for licensure are assessed what?

Answer 8

An initial application fee in addition to the biennial license fee.

Question 9

What are the perks for military veterans

Answer 9

Fee waiver of the initial application fee, biennial license fee, and unlicensed activity fee are waived for military veterans who apply for a real estate license within 24 months after honorable discharge.

Question 10

What is voluntary inactive?

Answer 10

a licensee who voluntarily chooses not to engage in real estate can put his license under voluntary inactive.

Question 11

What is involuntary inactive

Answer 11

a) If a licensee fails to renew an active o voluntary inactive license (other than the first renewal).
b) suspended
c) revoked

Question 12

How long can a license be placed in involuntary license status?

Answer 12

no more than two years. After that the license is considered null and void. They will then have to reapply and take the 63 hour prelicense course and pass again.

Question 13

Within the 24 month involuntary license status what are the educational requirements?

Answer 13

Within 12 months or less: 14 hours

more than 12 months but less than 24 months: 28 hours of a commission-prescribed education course

Question 14

When a license is void it…

Answer 14

…no longer exists

Question 15

When does a license become “void”?

Answer 15

a) after 24 months of inactive status
b) when it is cancelled
c) revocation

Question 16

Are there any exceptions to “permanent revocation?

Answer 16

A license may reapply AFTER FIVE YEARS when they:
A) filed for renewal but did not comply with the education requirement.
B) Filed an application for a license that contained false or fraudulent information.

Question 17

Define “ineffective” and give examples pertaining to licensing.

Answer 17

The license exists, but can not be used

a) voluntary inactive
b) fails to renew a license prior to expiration date (other than first renewal) and is involuntary inactive (that two year period before becoming void).
c) when an associate’s broker is suspended or revoked but they are not
d) Suspended. The license is “ineffective” during the period of suspension.

Question 18

What is “cease to be in force.”

Answer 18

That period when a sales associate leaves one brokerage firm and is not yet registered under another or a school changes address and has not yet notified the state after 10 days.

Question 19

What are “multiple licenses?”

Answer 19

Multiple licenses are issued to a broker who qualifies as the broker for more than one business entity. For each business that a person is a broker, a separate broker license must be obtained.

Question 20

What is a group license

Answer 20

It is when several brokers and agents are registered under an owner-developer.

Question 21

Do schools receive a license?

Answer 21

No, they receive a permit

Question 22

What are the expiration dates for all licenses?

Answer 22

Sept 30th or March 31

Question 23

How is it decided which expiration date you will have?

Answer 23

The day you receive your license, your renewal date will be either Sept 30th or March 31. It can not be longer than 2 years but no less than 18 months.
(e.g. If you get your license June 1 2013-your renewal date would be March 2013)

Question 24

What is the armed forces exemption?

Answer 24

A license in good standing who is a member of the U.S. armed forces is exempt from the renewal provision during the licensee’s period of active duty and six months after discharge from active duty. If the military is out of state, the exemption also applies to a licenses spouse.

Question 25

Can a sales associate or broker associate hold multiple licenses or register with more than one broker?

Answer 25

NO

Question 26

A post office box is considered to be an acceptable mailing address for license purposes.

Answer 26

TRUE

Question 27

What is the maximum number of consecutive years a Commissioner may serve on the Florida Real Estate Commission?

Answer 27

EIGHT. A Commissioner may not serve more than two consecutive four year terms.

Question 28

The Commission's authority to regulate and enforce the license law is which type of power?
A)Quasi-legislative
B)Executive
C)Civil
D)Quasi-judicial

Answer 28

EXECUTIVE. The executive powers to regulate and enforce the license law are delegated to the Commission by the Florida legislature.

Question 29

A broker licensee is the broker for two independent real estate brokerages. How many licenses must he have?

Answer 29

TWO. THE BROKER MUST REQUEST AND BE ISSUED MULTIPLE BROKER LICENSES—ONE FOR EACH BROKERAGE COMPANY

Question 30

A school administrator relocates her real estate school to a new location. The school administrator is so busy with movers and forgets to notify the DBPR within ten days of her change of address. What, if anything, will happen to the school permit?

Answer 30

THE PERMIT WILL CEASE TO BE IN FORCE until the Commission receives proper notification.

Question 31

Assume on February 28, 2011, an initial real estate license was issued. What date will this license expire?
A) September 30, 2012
B) September 30, 2013
C) February 28, 2013
D) March 31, 2013

Answer 31

The answer is A) SEPTEMBER 30, 2012.

Question 32

An individual on active duty with the U.S. Navy has up until what period of time after discharge from active duty to renew her license?

Answer 32

6 months

Question 33

The FREC’s power to determine license law violations is an exercise of which type of power?

Answer 33

C) QUASI-JUDICIAL

Question 34

Which power is NOT given to the Florida Real Estate Commission?

A) Promulgating rules and regulations
B) Adopting a seal
C) Making determinations of violations
D) Imposing jail sentences

Answer 34

D) IMPOSING JAIL SENTENCES.

Question 35

Uder which situation does a license become ineffective?
A) Canceled
B) Revoked
C) Suspended
D) Expired for 26 months

Answer 35

The answer is C) SUSPENDED. An ineffective license occurs when a license is inactive or suspended.

Question 36

A sales associate moved from Lake City, Florida to Key West, Florida. What action must the licensee take?

Answer 36

WITHIN 10 DAYS OF MOVING, INFORM THE DBPR IN WRITING OF THE CHANGE OF ADDRESS.

Question 37

When a broker’s license is revoked, what happens to the licenses of the sales associates that are registered under the broker?

A) The licenses are suspended.
B) The licenses remain in force.
C) The licenses revert to involuntary inactive status.
D) The licenses become null and void.

Answer 37

C)THE LICENSES REVERT TO INVOLUNTARY INACTIVE STATUS

Question 38

How many Florida Real Estate Commission members may be licensed as a real estate sales associate

Answer 38

one