Section 3 - Real Estate Licensing in Florida

Question 1

Adjudication is a judicial decision. If adjudication is withheld, a judge decides to put a person on probation without entering a conviction.

Answer 1

Adjudication Withheld

Question 2

A professional licensed to provide real estate services for others for compensation

Answer 2

Broker

Question 3

A professional licensed as a broker who operates as a sales associate employed by another broker

Answer 3

Broker Associate

Question 4

Let the buyer beware, or it’s up to the buyer to determine the condition and value of the property

Answer 4

Caveat Emptor

Question 5

Money received for professional services provided; typically, real estate brokers are paid by commission

Answer 5

Compensation

Question 6

A person who has resided in Florida continuously for four or more months within the preceding year; Or, who presently resides in Florida with the intention to continuously reside in Florida for four months or more, from the date the person began their current period of residence in Florida (FL Rule 61J2-26.002)

Answer 6

Florida Resident

Question 7

A permit from an authority to carry on a trade, for example, a permit from the real estate commission to perform real estate services for others for compensation/ to be registered or entered on an official list with that authority

Answer 7

License/Registration

Question 8

A plea in which the defendant accepts the punishments of a guilty plea without admitting guilt

Answer 8

Nolo Contendere / No Contest

Question 9

Latin term meaning “at first look” or “on its face;” as a legal term means that the evidence is sufficient to prove the case unless proven false at trial

Answer 9

Prima Facie Evidence

Question 10

Appraisal, auction, sale, exchange, or purchase of real property or any interest in real property or business enterprise or opportunity, advertising such services or procuring prospects for such transactions (FL s 475.01(1)(a))

Answer 10

Real Estate Services

Question 11

Licensed professional performing real estate services under the supervision of a broker

Answer 11

Sales Associate

Question 12

Expungement is the process of removing a criminal record. In most states, once expunged, the arrest or conviction doesn’t have to be disclosed. Sealing a record means removing it from public view, for example, from a background check

Answer 12

Expungement vs. Sealing

Question 13

The licensee is allowed to operate under the associated license.

Answer 13

Active

Question 14

The licensee has met the requirements for licensure but is not allowed to work under the license. In order to return to active status, the individual or organization notifies the department and completes any outstanding requirements, such as continuing education or complete required forms. . (License Portal for the DBPR - Division of Real Estate)

Answer 14

Inactive

Question 15

A license may be revoked if it was issued by the commission by mistake (FL s 475.26(2))

Answer 15

Canceled

Question 16

A license expires or “ceases to be in force” when a broker changes their business address. The licensee must notify the commission of the change within ten days (FL s 475.23)

Answer 16

Cease to be in Force

Question 17

The licensee is up to date with respect to the department’s requirements for licensure (e.g. renewals). (License Portal for the DBPR - Division of Real Estate)

Answer 17

Current

Question 18

Since a salesperson may only be employed by one broker or one owner-developer, a group license allows the salesperson to work for the entities owned by the same individual. (License Portal for the DBPR - Division of Real Estate)

Answer 18

Group License

Question 19

The licensee has not completed a timely renewal of their license. (e.g. past their expiration date) (License Portal for the DBPR - Division of Real Estate)

Answer 19

Involuntarily Inactive

Question 20

The licensee has not been timely in meeting their obligations to the department. Used on multiple broker licenses, multiple instructor permits, branch offices, additional locations, real estate brokerages, upgrading of licenses - when a license is no longer in use. (License Portal for the DBPR - Division of Real Estate)

Answer 20

License Authority Voided

Question 21

Licensed brokers may be issued additional broker licenses as needed to conduct real estate brokerage business (FL s 475.215)

Answer 21

Multiple Licenses

Question 22

The licensee has failed to renew several times. To operate under the terms of this license again, the licensee would have to reapply for licensure. (License Portal for the DBPR - Division of Real Estate)

Answer 22

Null and Void

Question 23

When a licensee applies for and pays a fee in order to place the license in “inactive” status

Answer 23

Voluntarily Inactive