Section 3 TF Quiz

Question 1

The Florida Real Estate Commission was established under Florida Statute 475 for the purpose of specifically regulating Real Estate.

Answer 1

[A] A. True
B. False

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[Section 3D, Slide 10]

Question 2

Chapter 455 of the Florida Statutes gives the DBPR the power to investigate consumer complaints, issue subpoenas upon conducting investigation, issue cease and desist orders, and issue citations.

Answer 2

[A] A. True
B. False

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[Section 3A, Slide 48]

Question 3

Only a broker may have a “group license” in order to sell for all the entities owned by the owner/developer.

Answer 3

A. True
[A] B. False

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[Section 3C, Slide 30]; A sales associate or broker associate may have a “group license” in order to sell for all the entities owned by the owner/developer.

Question 4

The DBPR may issue a regular real estate license to a spouse of an active duty member of the Armed Forces assigned to duty in Florida if the spouse holds a valid real estate license in another state.

Answer 4

[A] A. True
B. False

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[Section 3B, Slides 70-74]

Question 5

Inactive means that there is a license in place, but the licensee may not practice real estate.

Answer 5

[A] A. True
B. False

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[Section 3B, Slide 19]

Question 6

When a broker quits from the brokerage, the licenses of sales associates and broker associates employed by the broker are automatically placed in involuntary inactive status.

Answer 6

[A] A. True
B. False

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[Section 3B, Slides 42-45]

Question 7

If the DBPR finds that a license has been issued by mistake, they are unable to do anything about it.

Answer 7

A. True
[A] B. False

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[Section 3B, Slide 55]; A license is considered canceled when the commission mistakenly approved a license.

Question 8

The Secretary of the DBPR appoints the Director of the Division of Real Estate (DRE). The Director of the DRE is confirmed by the Florida Real Estate Commission.

Answer 8

[A] A. True
B. False

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[Section 3D, Slide 106]

Question 9

A license is null and void when it no longer exists.

Answer 9

[A] A. True
B. False

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[Section 3B, Slide 40]

Question 10

The FREC is made up of five members who are real estate professional (licensed) members and two consumer members who have never been licensed.

Answer 10

[A] A. True
B. False

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[Section 3D, Slide 13]