Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Real Estate License > Unit 2 Real Estate Law and Qualifications for Licensure > Flashcards

Unit 2 Real Estate Law and Qualifications for Licensure Flashcards

1
Q

Chapter 20 Florida Statute

A

Governs:Executive Branch of FL government

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Chapter 475, Part 1, FL Statute

A

Governs:Real Estate Broker, Sales associates and schools

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Chapter 455, Fl Statute

A

Dept. of Business and Professional Regulations and the professions under the department

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Chapter 120 Florida Administrative Code

A

Procedural process for all governmental entities authorized under the FL Constitution

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Chapter 61J2, Fl Administrative Code

A

Florida Real Estate Commision rules

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

List the 3 categories of real estate licenses

A

Sales associate
Broker
broker associate

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

In what year does the FL legislature passed the real estate License Law Chapter 475 of the FL statutes

A

1923

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

In what year does the FL legislature created the FL Real Estate Commission to administer and enforce the license law?

A

1925

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

DRE

A

Division of Real Estate

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

DBPR

A

Department of Business and Professional Regulation (DBPR)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

performs real estate services for compensation under the direction, control or management of broker or an owner- developer

A

Sales associate

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Broker

A

A person who, for another and for compensation or other consideration performs real estate services.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

broker associate

A

hold a brokers license but chooses to register and work in real estate under the direction of another broker.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

owner developer

A

unlicensed entity that sells, exchanges or leases its own property

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

The DBPR exempts what 3 categories of applicants from the initial licencing fee for a professional license.

A

Low income applicants
Military personnel & spouses
Military veterans and spouses

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

To become a sales associate, applicant must complete:

A

63 hours pre license course with a score of 70
DBPR licence application, fingerprints submission, background check inf, affidavit of honesty, initial license and application fee payment and pass state license exam, with a score of at least 75

17
Q

What are the Requirement to apply to become a sales associate

A

Be at least 18 yrs and have a high school diploma
Possess US Social security number

(Applicant does not need a FL residency or US citizenship)

18
Q

What does the sale associate and broker need to do before the initial license expires?

A

sales ass: must complete 45 hours post licensing course

broker: Need to complete a 60 hours post licencing course.

19
Q

Licences of the sales associate or broker becomes null and void when?

A

not completing required course and let licensed expire

20
Q

How many hours for continue education and what course does include to all real estate licensees

A

14 hours of Con. ED
including 3 hours of business Code of Ethics course
3 hours of core law course

21
Q

Compensation

A

anything of valued paid or promised to be paid to an individual for performing any services for another.

22
Q

A broker applicant must have held an active real estate license for at least (____ _____) during the preceding _____ ______.

A

24 months

5 years

23
Q

prima facie evidence

A

requiring no further proof; aceptable on the face of.
a real estate license serves as prima facie evidence that the person named on the license possesses a current and valid license

24
Q

Which info is included on the face of the real estate license

A 
Licensee's full name and address
Name of the secretary of the DBPR
License type
Expiration date
effective date
name of governor
License number
25
Q

Mention the Real Estate Services
A
BAR
SALE

A 
Advertise real estate services
Buy
Appraise
Rent or provide real inf or list
sell
Auction
Lease
Exchange
26
Q

EXEMPTIONS OF REAL ESTATE: Who is exempted by law/ the 5 groups are:

A 
Owner exceptions
Exemption base on career
Salaried employed exceptions
Court and legally appointed persons
Miscellaneous exemptions

Real Estate License (4 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions