Unit 2

Question 1

Nolo contendere

Answer 1

Nolo contenders is a plea of no contest entered in a criminal court of law.The defendant does not admit or deny the charges, though a fine or a sentence may be imposed by the court.

Question 2

Mutual Recognition Agreement Exam

Answer 2

The exam consists of 40 questions worth 1 point each. A grade of 30 points (75%) or higher is required to pass the exam.

Question 3

LICENSE APPLICATION

Answer 3

A US social security number is required to apply for a real estate license. In the Full Legal Name section of the license application, applicants must enter their names as they appear on their social security cards. Florida law requires that an applicant’s social security number be disclosed on all professional license applications. The social security number is used to determine whether applicants are in compliance with child support obligations.

Question 4

Salaried Employee Exemptions

Answer 4

Salaried employees of a business entity may buy, sell, exchange, and lease property for their employers. However, the employees may not be paid on a transactional basis. The employees may not receive a fee or commission or other compensation based on the transaction.