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Real Estate Exam! > Unit 3: Real Estate License Law and Commission Rules > Flashcards

Unit 3: Real Estate License Law and Commission Rules Flashcards

1
Q

The Department of Business and Professional Regulation (DBPR) is the agency charged with:

A

licensing and regulating businesses and professionals in Florida.

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2
Q

The DBPR is under the executive branch of the governor, and it is governed by Chapter:

A

120

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3
Q

The Division of Real Estate (DRE) provides:

A

all services required to administer the Florida real estate license law. The duties of the DRE are essentially administrative and ministerial.

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4
Q

The duties of the Division of Real Estate that involve recordkeeping.

A

Ministerial Duties

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5
Q

True/False The duties of the Division of Real Estate are primarily enforcement of real estate laws.

A

False. The Division of Real Estate (DRE) duties are essentially administrative and ministerial. The administrative duties include routine duties and clerical functions of behalf of the FREC. The DRE’s ministerial duties involve recordkeeping.

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6
Q

True/False The director of the Division of Real Estate (DRE) is appointed by the secretary of the DBPR, subject to senate confirmation.

A

False. The director of the DRE is appointed by the secretary of the DBPR, subject to approval of the Florida Real Estate Commission (FREC).

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7
Q

True/False The secretary of the DBPR is appointed by the governor.

A

True. The secretary of the DBPR is appointed by the governor, subject to confirmation by the state senate.

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8
Q

The Florida Real Estate Commission (FREC) is the regulatory body charged by the Florida Legislature with:

A

protecting the general public by regulating real estate brokers and brokerage firms, broker associates, sales associates, and real estate schools and instructors. The FREC is also charged with fostering the education of real estate licensees and permit holders.

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9
Q

The Florida Real Estate Commission (FREC) consists of seven members, GIVE SPECIFICS

A
  • FIVE of the members are professional (licensed) members, of which:
  • FOUR must be Florida real estate brokers who have held active licenses during the five years preceding appointment; and
  • ONE must be either a Florida real estate broker or sales associate who has held an active license during the two years preceding appointment.
  • TWO remaining members are consumer (unlicensed or lay) members who have never been real estate brokers or sales associates.
  • AT LEAST ONE of the seven members must be 60 years of age or older.
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10
Q

True/False At least three of the Commissioners must be consumer members.

A

False. Two Commissioners must be consumer (lay) members who have never been real estate brokers or sales associates.

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11
Q

True/False The Florida Real Estate Commission members are paid $100 per day for official Commission business.

A

False. Florida Real Estate Commission members are paid $50 per day for each day they attend an official meeting and for each day they participate in other Commission business.

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12
Q

True/False One Commissioner may be a licensed Florida sales associate.

A

True. One Commissioner must be either a licensed broker or sales associate who has held an active license during the two years preceding appointment.

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13
Q

Duties related to the education of licensees, the regulating of professional practices, and the publishing of materials.

A

Executive

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14
Q

Powers delegated to the FREC to enact rules and regulations, decide questions of practice, and validate records (imprint with FREC’s seal).

A

Quasi-legislative

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15
Q

The formal act of announcing a statute or an administrative rule. To publish and officially announce a new or amended rule or statute. The FREC may promulgate rules and regulations.

A

Promulgates

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16
Q

Powers delegated to the FREC to discipline real estate licensees for violations of real estate license law and FREC administrative rules.

A

Quasi-judicial

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17
Q

The powers of the FREC are limited to administrative matters and do not extend to criminal actions.

A

True. The FREC may not impose imprisonment as a penalty.

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18
Q

The Florida Real Estate Commission’s duty to create and pass real estate rules and bylaws is the exercise of quasi-legislative power.

A

True. The Commission exercises its quasi-legislative power when it enacts rules and bylaws that enforce Florida statutory license law.

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19
Q

A current, valid license registered with the DBPR. The status required to actively engage in the real estate business.

A

Active License

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20
Q

The license status that results when a licensee has met all the requirements for licensure, yet the licensee chooses not to engage in the real estate business and has requested that the license be placed in this status.

A

Voluntary Inactive

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21
Q

The license status that results when a license is not renewed at the end of the license period.

A

Involuntary Inactive

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22
Q

The license status when a sales associate has failed to successfully complete post-license education prior to the first renewal of the license or when a licensee has failed to renew two or more renewal cycles; the license status has been involuntary inactive for more than 24 months.

A

Null And Void

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23
Q

The licensee requests that the DBPR cancel the license. The DBPR will accept a licensee’s request to voluntarily relinquish a license, provided there is no investigation or discipline 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.

A

Voluntarily Relinquish

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24
Q

A license ceases to exist, effective as of the date approved by the Commission, and does not involve disciplinary action.

A

Cancel

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25
Q

A licensee cannot perform real estate services because certain events occur, such as when a broker changes business address.

A

Cease To Be In Force

26
Q

The residential address a licensee uses to receive mail through the U.S. Postal Service.

A

Current Mailing Address

27
Q

Indicates a licensee is up to date with respect to the DBPR’s licensure requirements.

A

Current Status

28
Q

An administrative penalty imposed by the FREC that allows the licensee to continue to practice real estate under the guidance of the FREC for a period of time while completing conditions specified by the FREC.

A

Probation

29
Q

True/False A license that has been involuntarily inactive for more than 24 months (two years) becomes null and void.

A

A sales associate whose license has been involuntarily inactive for more than 24 months must complete 28 hours of reactivation education.

30
Q

True/False A real estate sales associate whose license was expired at the time of performing real estate services must renew the license before the title closing in order to lawfully receive compensation for the transaction.

A

False. A real estate licensee must not practice real estate after the expiration date of the license. It is unlawful for a license to perform real estate services for compensation with an expired license.

31
Q

True/False To perform real estate services for another for compensation, the licensee’s primary status must state either current or probation.

A

True.

32
Q

Licenses held by a broker in two or more real estate brokerage firms.

A

Multiple Licenses

33
Q

True/False Jane Doe is the broker for both Extra-Fine Real Estate Services and Extra-Fine Property Management. One company handles only sales, while the other handles only rentals. Jane must register both real estate companies with the DBPR. Therefore, she needs multiple broker licenses to qualify both brokerage entities.

A

True

34
Q

True/False Ray Jones is a sales associate registered under Extra-Fine Real Estate Services. Ray would like to try representing a few landlords that purchased his listings. He is wondering if he can work for both Extra-Fine Real Estate Services and Extra-Fine Property Management since Jane Doe is the broker of both companies. Sales associates and broker associates may engage in real estate activities that require a real estate license only on behalf of the brokerage company where the associate is registered. It is true that Jane is the broker of both companies, however, the associate is registered under Extra-Fine Real Estate Services, and sales associates may have only one registered employer at any one time.

A

True.

35
Q

A right granted a sales associate or broker associate to work various properties owned by affiliated entities under one owner developer.

A

Group License

36
Q

True/False A man is the broker for two independent brokerage entities. He needs to apply for and hold a group license.

A

False. The man needs a broker license for each of the brokerage entities. This is called holding multiple licenses.

37
Q

True/False A real estate developer owns several subdivisions that are in the names of different entities. Sales associates who are employed by the developer hold a group license.

A

True. A group license is issued to sales associates who are registered under an owner-developer who owns properties in the names of several entities.

38
Q

Chapter 455, F.S., grants authority to the DBPR to:

A

investigate consumer complaints, issue subpoenas when conducting investigations, issue cease and desist orders to unlicensed individuals, and issue citations to individuals licensed by the DBPR.

39
Q

The chief administrator of the DBPR is the:

A

secretary of the DBPR, who is appointed by the governor, subject to confirmation by the state senate.

40
Q

Members of the Commission are appointed by the:

A

governor, subject to senate confirmation, and are not employees of the DBPR.

41
Q

The Commission’s powers are primarily:

A

quasi-judicial and quasi-legislative. The FREC exercises its quasi-legislative powers when it adopts rules. It exercises its quasi-judicial powers when it hears complaints, disciplines licensees, and grants or denies recovery fund claims.

42
Q

A licensee who has qualified for a real estate license but who voluntarily chooses not to engage in the real estate business may:

A

request voluntary inactive status. Involuntary inactive status occurs when a licensee fails to renew an active or voluntary inactive license before the expiration date.

43
Q

A license becomes null and void when an involuntary inactive status has continued more than:

A

2 years

44
Q

If a broker’s license is suspended or revoked, the licenses of the sales associates and broker associates registered under that broker are placed in:

A

involuntary inactive status. Once new employment is secured, the license status is changed to active.

45
Q

icensees must notify the DBPR within *** days of a change in mailing address.

A

10

46
Q

Resident licensees who move out of the state must notify the Commission within *** of the change in residency.

A

60

47
Q

“Multiple licenses” refers to

A

those cases in which a broker holds more than one broker’s license.

48
Q

A group license is issued to a sales associate or a broker associate employed by

A

an owner-developer (real estate developer) who owns properties in the name of various entities. A group license entitles the licensee to work for the separate sales projects owned by the owner-developer.

49
Q

Which task must a sales associate complete before the expiration of the initial sales associate license?

A) Complete the 45-hour post-license education course
B) Complete the 14-hour continuing education course
C) Submit a real estate activity log
D) Pay a one-time new license education fee

A

A) Complete the 45-hour post-license education course

50
Q

A licensed broker is the broker for two independent real estate brokerages. Which statement applies to this situation?

A) The broker must register as a broker associate for one of the real estate companies.
B) The broker must request and be issued a group license.
C) The broker must request and be issued multiple broker licenses—one for each brokerage company.
D) The broker licensee may only be the broker for one Florida real estate company.

A

C) The broker must request and be issued multiple broker licenses—one for each brokerage company.

51
Q

An individual on active duty with the U.S. Navy who is not engaged in real estate brokerage activity in the private sector for profit has what period of time after discharge from active duty to renew a real estate license?

A) 6 months
B) 24 months
C) 12 months
D) 3 months

A

B) 24 months

52
Q

The Commission’s authority to regulate and enforce the license law is which type of power?

A) Civil
B) Executive
C) Quasi-legislative
D) Quasi-judicial

A

B) Executive

53
Q

How many Florida Real Estate Commission members may be licensed as real estate sales associates?

A) Four
B) One
C) Three
D) Two

A

B) One

54
Q

What is the maximum number of consecutive years a commissioner may serve on the Florida Real Estate Commission?

A) Four
B) Eight
C) Six
D) Two

A

B) Eight

55
Q

The director of the Division of Real Estate is appointed by the

A) governor.
B) secretary of the Department of Business and Professional Regulation.
C) Florida Senate.
D) Florida Real Estate Commission chairperson.

A

B) secretary of the Department of Business and Professional Regulation.

56
Q

A sales associate is in his third license renewal cycle. The licensee neglected to renew his license before the expiration date seven months ago. Which statement applies to this situation?

A) The sales associate is required to complete 28 hours of a Commission-prescribed education course.
B) The sales associate must reapply for licensure.
C) The licensee must complete 14 hours of continuing education.
D) The license is in voluntary inactive status.

A

C) The licensee must complete 14 hours of continuing education.

57
Q

After what period of time does an involuntary inactive license automatically expire and become null and void?

A) Five years
B) Four years
C) Two years
D) One year

A

C) Two years

58
Q

Which power is NOT given to the Florida Real Estate Commission?

A) Making determinations of violations
B) Imposing jail sentences
C) Promulgating rules and regulations
D) Adopting a seal

A

B) Imposing jail sentences

59
Q

A brokerage office changes business address. What action must the broker take?

A) Submit a request to renew the real estate license.
B) Notify the FREC within 60 days of the change in residency.
C) File a new application for licensure.
D) Within 10 days of moving, inform the DBPR in writing of the change in business address.

A

D) Within 10 days of moving, inform the DBPR in writing of the change in business address.

60
Q

The FREC’s power to determine license law violations is an exercise of which type of power?

A) Quasi-judicial
B) Quasi-legislative
C) Executive
D) Civil

A

A) Quasi-judicial

Real Estate Exam! (20 decks)

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