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FL Sales Associate Pre-License 63 Hr Course > Section 2 Review > Flashcards

Section 2 Review Flashcards

1
Q

When is Business regulation required?

A

when the unregulated practice can harm the public, the public is not adequately protected by other laws, and less restrictive means of regulation are not available.

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2
Q

What does caveat emptor mean?

A

buyer beware

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3
Q

real estate law involves which three branches of Florida Government?

A

Legislative, Executive and Judicial

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4
Q

What does F.S Chapter 20 F.S. establish?

A

Department of Business and Professional Regulation.

DBPR

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5
Q

What does Chapter F.S 455 establish? RPO

A

Regulation of Professions and Occupations

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6
Q

The (DRE) Division of Real Estate was established under who?

A

Department of Business and Professional Regulation.

DBPR

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7
Q

What is the purpose of DRE? (Division of RE)

A

to protect the public by regulating real estate and appraisal licensees through education and compliance.

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8
Q

DRE provides administrative support to who?

A

FREC - Florida Real Estate Commission

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9
Q

What does Chapter 475 F.S. establish? REPA

A

Real Estate Professions Act

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10
Q

What is the intent of real estate regulation?

A

to protect the health, safety, and welfare of the public.

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11
Q

where are rules published under FREC?

A

61J2 F.A.C (FL. ADMINISTRATIVE CODE)

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12
Q

Chapter 120 F.S. covers what?

A

Disciplinary processes for licensees under the DBPR. (Administrative Procedure Act)

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13
Q

What are the 3 RE License Categories

A

A) Broker B) Sales associate C) Broker associate.

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14
Q

What must an applicant disclose?

A

if under investigation, convicted of a crime or ever entered a plea of nolo contendere / no contest or guilty, any aliases, if denied, or had a license disciplined or pending discipline in another jurisdiction, surrendered, or revoked license or registration to practice a regulated profession in any jurisdiction

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15
Q

Licensees must report if found guilty of any conduct or practice that would be grounds for suspension or revocation under Chapter 475, F.S. with how many days?

A

Within 30 days

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16
Q

Is U.S. citizenship required to hold a professional license in Florida?

A

No, (Chapter 455.10)

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17
Q

Military and their spouse are exempt from what?

A

initial licensing fees per Occupational Opportunity Act

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18
Q

The state has ___ days from the receipt of an application to notify the applicant of any errors or omissions.

A

30

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19
Q

The Department of Business and Professional Regulation has ____ days from the time a complete application is received to approve or deny the application

A

90

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20
Q

The application shall expire __ years after the date received if the applicant does not pass the appropriate examination.

A

2

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21
Q

Who is exempt from licensing courses?

A

College graduates with a 4-year degree in real estate, must take the state licensing exam and maintain continuing education.

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22
Q

Florida attorneys are exempt from what?

A

63 Hr Sales Associate Pre-Licensing course and cont. edu, however, they must take the state exam and all subsequent post or broker courses.

23
Q

A 63-hour sales associate pre-license course must be successfully passed with a score of ___.

A

70%

24
Q

The State licensure examination requires a score of __.

A

75%

25
Q

The 72-hour broker course must be passed with a score of __.

A

70%

26
Q

Qualifications for the broker exam?

A

individual must have 2 out of the previous 5 years as an active real estate licensee in or outside of Florida.

27
Q

Florida currently has mutual recognition agreements with what 8 other states?

A

Alabama, Arkansas, Connecticut, Georgia, Illinois, Mississippi, Nebraska, and Rhode Island.

All (Alabama)
Miss (Mississippi)
Nebraska's (Nebraska)
Cough (Connecticut)
And (Arkansas)
Get (Georgia)
Really (Rhode Island)
Ill (Illinois)
28
Q

A Florida resident is anyone who has resided (or intends to reside) in Florida continuously for a period of ?

A

four calendar months or more within the preceding year.

29
Q

Failure of a sales associate to take the post-license course within___would result in ?

A

24 months

the license being null and void.

30
Q

Prima Facia Evidence

A

Verifiable proof

Carrying a copy of a real estate license provides required prima facia evidence that holder of a real estate license possesses current and valid licensure.

31
Q

What are the req. cont. ed. hours after the first year?

A

14 hours of continuing education is required past the first renewal period ever 2 yrs. 3 of the 14 hours must be core law and 3 must be in ethics.

32
Q

Past the first renewal period: a licensee whose license has expired may renew the license if within _____ by completing _________

A

12 months 14 hours

24 months 28 hours

33
Q

Past the first renewal period: a licensee whose license has expired past twelve months but less than twenty-four months, may take a _____ reactivation course to become active.

A

28 hrs (makes up for 2 year of 14 hrs missed)

34
Q

Past the first renewal period: a licensee whose license has expired past twenty-four months would be ?

A

null and void.

35
Q

Performing real estate services for compensation requires?

A

a real estate license

36
Q

Advertising, Buying, Selling, Exchanging, Renting, Leasing, and Appraising are considered?

A

real estate activity.

37
Q

5 types of People exempt from having a license to perform RE duties?

A

owners
Power of Attorneys
court-appointed individuals
attorneys acting within the scope of their duties.
public accountants acting within the scope of their duties.

38
Q

Salaried managers of a condominium or cooperative are exempt if rental periods are

A

less than one year.

39
Q

Apartment complexes or the property management firm of such may offer up to ___ as a
finder’s fee to a current tenant for referring a new tenant

A

$50

40
Q

adjudication withheld

A

being given probation by a judge, instead of being found guilty of a crime

41
Q

Broker

A

A person who has education past the real estate agent level and has completed broker licensing requirements per the rules of Statute 475.

42
Q

Broker Associate

A

Qualifies for licensure as a broker, however, chooses to work under the direction of a broker.

43
Q

chapter 475 regulated what?

A

Brokers, sales associates, and schools.

44
Q

compensation

A

The term “compensation” includes monetary compensation as well as valuable consideration, which includes benefits other than cash or tangible goods.

45
Q

Florida resident

A

A person who has resided in Florida continuously for a period of four calendar months or more within the preceding year is considered to be a Florida Resident.

46
Q

the 7 Members of FREC are made up of who?

A

Florida Real Estate Commission

4 brokers (5+ years holding license)
1 additional broker OR associate with 2 + years of experience
2 unlicensed members of the general public. one of the 7 must be over the age of 60

47
Q

license/registration

A

meeting the requirements to legally perform certain skills as dictated by law

Registration indicates that a person whose name is listed on an official record or register has met certain requirements in their particular profession.

48
Q

nolo contendere / no contest

A

Nolo contendere is a Latin term meaning “I will not contest” the charges, which is a plea made by a defendant to a criminal charge, allowing the judge to then finds him/her guilty. It has the same effect as a plea of guilty.

49
Q

prima facie evidence

A

Prima facia is Latin meaning “at first sight”; on the first appearance; on the face of it; so far as can be judged from the first disclosure; presumably.

50
Q

real estate services

A

Services include Buying, Selling, Auctioning, Exchanging, Renting, Leasing, Appraising property or business as a non-appraiser (BPO).

51
Q

sales associate

A

Real estate sales associates are licensed and registered by the DBPR to work under the direction of a broker. They are employed by the broker and receive compensation from the broker.

52
Q

sealing vs. expungement

A

sealed - hidden from the public

expunged - physically removed so that the record no longer exists.

53
Q

What is FREC’s purpose?

A

To implement, interpret, and enforce the provisions of Chapter 475.

FL Sales Associate Pre-License 63 Hr Course (20 decks)

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