Unit 1

Question 1

What reason do you need to have active real estate license to sell or lease business opportunities?

Answer 1

Florida law presumes that businesses will have some sort of real property, either land with physical importance such as building or long term lease.

Question 2

Who must you have a CAM License?

Answer 2

A community association manager when the community association consists of more than 10 units or have an annual budget in excess of $100,000.

Question 3

CMA is?

Answer 3

Comparative marketing analysis developed by collecting info concerning real estate activity in the area, including recent sales of similar properties, properties currently offered for sale, and recently expired listings.

Question 4

Do CMA’s have to conform to USPAP?

Answer 4

No. They are used as a marketing tool and may not be referred to or represented as an appraisal.