Unit 3

Question 1

FLORIDA REAL ESTATE COMMISSION ( F R E C )

Answer 1

Commission members do not receive a salary. Instead of a salary, they are paid $50 per day for each day they attend an official meeting and for each day they participate in other Commission business. Commissioners are also reimbursed for out of pocket travel expenses, including mileage, meals, and hotel charges associated with their official duties.

Question 2

Other License Classifications
NULL and VOID

Answer 2

A person who no longer wants to engage in the real estate business, can voluntarily relinquish or cancel the license provided, there is no investigation or disciplinary proceeding pending against the licensee. The licensee sends written communication to the DBPR, indicating that the licensee is retiring or no longer desires to be licensed.

Question 3

Current Mailing Address

Answer 3

Licensee must notify the DBPR in writing within 10 days of a change in the current mailing address or new address. There is a $500 citation for failure to do so.

Question 4

MULTIPLE AND GROUP LICENSE

Answer 4

Only a broker can hold more than one license. (Multiple Licenses)