study guide chapter 6

Question 1

Culpable negligent:

Answer 1

Acting in an excessively negligent manner. (pg 98)

Question 2

lotteries or trading scheme

Answer 2

The use of lotteries or trading scheme that involve the purchase of chances is a violation
of FS 475. A developer may use a “suprise key” contest where no purchase is necessary
in the process of promo ng their Project. It is permissible as long as there is no
purchase necessary to participate. (pg 99)

Question 3

application denial

Answer 3

If an application for a license is for any reason denied, the Department Will notify the applicant in writing giving the applicant 21 days to request a hearing.

Question 4

what happens to a broker’s agents if he got his license revoked?

Answer 4

If a broker for any reason has his/her license revoked, suspended or becomes ineffective,
all the licensees working for that broker Will have their licenses placed as Involuntarily.
Inactive (Pg 100)

Question 5

Real Estate Recovery Fund

Answer 5

The only way that a licensee may be eligible to collect from the Real Estate Recovery
Fund is if he/she is acting as a Consumer or member of the public and is represented by
another agent as buyer or seller. (pg 105)