Brainscape's Knowledge GenomeTM

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


See full index

Real Estate Exam! > Unit 6: Violations of License Law, Penalties, and Procedures > Flashcards

Unit 6: Violations of License Law, Penalties, and Procedures Flashcards

1
Q

Failure to do or perform what has been promised.

A

Breach Of Trust

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

To mix together money or a deposit with personal funds; combine; intermingle.

A

Commingle

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

The act of keeping from sight or keeping secret.

A

Concealment

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

Unauthorized use or retention of money or property that rightfully belongs to another person.

A

Conversion

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

Inadequate attention to duties and obligations by those who know, or should know, what is required of them.

A

Culpable Negligence

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

The act of failing to pay money to a person entitled to receive it.

A

Failure To Account Or Deliver

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

The intent to misrepresent a material fact or to deceive in order to gain an unfair advantage or to harm another person.

A

Fraud

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

A piece of information that affects the value of real property and is relevant to a person making a decision about that property.

A

Material Fact

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

A false or misleading statement of a material fact; concealment of a material fact.

A

Misrepresentation

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

An act of corruption, vileness, or moral depravity; a disgraceful action or deed.

A

Moral Turpitude

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

True/False A broker placed security deposits from tenants into the business operating account. This is an example of commingling funds.

A

True

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

True/False Examples of moral turpitude include embezzlement and crimes of larceny.

A

True

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

Conversion is the withholding of information.

A

False. Concealment is the withholding of information or a material fact.

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

Formal allegation or charge.

A

Complaint

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

A complaint that contains facts indicating that a violation of a Florida statute, a DBPR rule, or a FREC rule has occurred.

A

Legally Sufficient

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

Emergency or immediate action taken by the secretary of the DBPR against a license to protect the public.

A

Summary (emergency) Suspension Order

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

True/False A complaint is legally sufficient if it contains facts indicating that a violation of Florida statute has occurred.

A

True

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

True/False The FREC may issue a summary suspension when a licensee’s actions endanger the public.

A

False. A summary suspension (or emergency suspension) must be issued by the DBPR secretary or a legally appointed designee of the secretary.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Reasonable grounds or justification for prosecuting.

A

Probable Cause

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

True/False A probable-cause panel may consist of one consumer member who currently serves on the Commission and one former Commission professional member who holds an active real estate license.

A

True

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

True/False If probable cause is found, a formal complaint is filed.

A

True

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

True/False The probable-cause panel is composed of two current members of the Commission.

A

False. One of the panel members must be a current FREC member. The other member may be a former commissioner. One panel member must be a real estate licensee.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

True/False Probable-cause proceedings are open to the public.

A

False. Probable-cause proceedings are not open to the public, and the remaining FREC members are prohibited from attending.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

An outline of the charges against a licensee that must be answered within the statutory time limit.

A

Formal (administrative) Complaint

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

An agreement as to the penalty reached between the attorneys for the DRE and the licensee or licensee’s attorney.

A

Stipulation

26
Q

A licensee-respondent may choose to avoid a disciplinary hearing and relinquish the real estate license in lieu of discipline, permanently revoking the license.

A

Voluntary Relinquishment For Permanent Revocation

27
Q

A respondent who does not dispute allegations of material fact in the administrative complaint may request an informal hearing before the FREC for final action on the complaint.

A

Informal Hearing

28
Q

A session in which testimony and arguments are presented, especially before an official.

A

Formal Hearing

29
Q

The governmental entity that hears all formal hearings resulting from an administrative complaint against a licensee.

A

Division Of Administrative Hearings (DOAH)

30
Q

A writ or order commanding the person named to appear and testify in a legal proceeding.

A

Subpoena

31
Q

A determination by an administrative law judge that includes findings and conclusions, as well as other information required by law or agency rule to be in a final order.

A

Recommended Order

32
Q

A decision rendered by the FREC.

A

Final Order

33
Q

True/False A settlement stipulation is an agreement as to the facts of the case and an appropriate penalty negotiated between the attorneys for the DRE and the licensee or the licensee’s attorney.

A

True

34
Q

True/False A subpoena is a legal document commanding an individual to appear at a certain time and place to give testimony.

A

True

35
Q

True/False If a licensee who is the subject of an administrative complaint fails to timely respond to the Election of Rights, the licensee has waived the Election of Rights, and the case will be heard in a formal hearing.

A

False. If the subject of an administrative complaint fails to timely respond to the Election of Rights, the licensee-respondent is considered to have waived the Election of Rights, and the case is heard by the FREC in an informal hearing.

36
Q

True/False Licensees are given 90 days to file an appeal of the final order.

A

False. The licensee may challenge the final order within 30 days by filing an appeal.

37
Q

True/False The Florida Real Estate Commission can order a real estate licensee to pay restitution to a seller who was harmed by a licensee.

A

False. The Commission does not have the authority to order restitution to an injured party. If the acts of a licensee harm a consumer, the injured party may seek damages in a court of law.

38
Q

True/False The Florida Real Estate Commission possesses the authority to sentence a licensee to imprisonment.

A

False. All imprisonment penalties must be obtained in a court of law because the Commission lacks the authority to assess such penalties.

39
Q

True/False An administrative fine of up to $5,000 may be issued for a violation of Chapters 455 and 475, F.S.

A

True

40
Q

True/False The DBPR may issue a notice of noncompliance for any minor violation.

A

False. The Commission has established in rule a list of the violations for which a notice of noncompliance may be issued for first-time offenses only.

41
Q

True/False A licensee who receives a notice of noncompliance for a minor violation must take action to correct the violation within 15 days.

A

True

42
Q

True/False If the Florida legislature does not classify a misdemeanor, then it is punishable as a misdemeanor of the second degree.

A

True

43
Q

True/False Unlicensed activity is a third-degree felony.

A

True

44
Q

True/False Real estate licensees must inform the Commission within 60 days of being convicted or found guilty of a crime.

A

False. Florida Statute requires licensees to inform the FREC, in writing, within 30 days of being convicted or found guilty of a crime.

45
Q

True/False Falsifying a license application is a second-degree misdemeanor.

A

False. It is a third-degree felony to falsify a license application.

46
Q

True/False The maximum payment from the recovery fund for a single real estate transaction is $50,000.

A

True

47
Q

True/False A broker who complies with an escrow disbursement order (EDO) may be reimbursed the amount of the EDO, attorney’s fees, and court costs.

A

True

48
Q

True/False A claim will be denied if the offending licensee had an expired license at the time of the transaction.

A

True

49
Q

True/False The claimant can be reimbursed for punitive damages from the recovery fund.

A

False. Only actual damages awarded by a court can be reimbursed from the fund. Punitive damages cannot be paid from the fund.

50
Q

Another term for a formal complaint is

A) an administrative complaint.
B) prima facie evidence.
C) a consumer complaint.
D) legally sufficient.

A

A) an administrative complaint.

51
Q

A buyer was defrauded by a real estate licensee. The buyer is awarded a judgment against the licensee in the amount of $7,000 damages plus $2,300 for attorney’s fees and court costs. The buyer has been unable to collect on the judgment, but it is determined that the buyer may seek reimbursement from the Real Estate Recovery Fund. How much can the buyer recover from the Fund?

A) $50,000
B) $7,000
C) $10,000
D) $9,300

A

B) $7,000

52
Q

A case is heard before an administrative law judge in a formal hearing. In such cases, who renders the final order?

A) Administrative law judge
B) FREC (with members who served on the probable-cause panel excused)
C) Attorney general
D) DBPR secretary

A

B) FREC (with members who served on the probable-cause panel excused)

53
Q

Which violation is a third-degree felony?

A) Individual performs real estate services for compensation without a real estate license
B) False advertising
C) Broker fails to register a trade with the Commission
D) Sales associate fails to deliver an earnest money deposit to her broker before the end of the next business day

A

A) Individual performs real estate services for compensation without a real estate license

54
Q

Under Florida Statute 455, which penalty may be imposed on an individual for unlicensed practice of real estate?

A) $5,000 fine per count
B) Suspension
C) Revocation
D) Any of these

A

A) $5,000 fine per count

55
Q

The maximum amount that may be collected from the Real Estate Recovery Fund as a result of a single real estate transaction is

A) $25,000.
B) $100,000.
C) $150,000.
D) $50,000.

A

D) $50,000.

56
Q

A broker who fails to pay an earnest money deposit at the title closing in accordance with the contract for sale and purchase may be charged with which offense?

A) Commingling
B) Moral turpitude
C) Failure to account or deliver
D) Breach of contract

A

C) Failure to account or deliver

57
Q

When a consumer files a complaint against a real estate licensee that contains facts indicating that a violation of FREC rules has occurred, the complaint is said to be

A) prima facie evidence.
B) formal.
C) legally sufficient.
D) evidence.

A

C) legally sufficient.

58
Q

Which penalty is NOT an administrative penalty that may be imposed by the FREC?

A) Revocation
B) $5,000 fine for violation of Chapter 455
C) Probation
D) Restitution to the injured party

A

D) Restitution to the injured party

59
Q

The broker followed the directions issued in an escrow disbursement order that became the subject of a lawsuit. The consumer-plaintiff obtained a judgment against the licensed real estate broker. It is determined that the consumer is eligible to seek reimbursement from the Real Estate Recovery Fund. The fund may NOT reimburse which expense?

A) Plaintiff’s attorney’s fees
B) Punitive damages
C) Broker-defendant’s attorney’s fees
D) Broker-defendant’s court costs

A

B) Punitive damages

60
Q

Which offense does NOT have to be self-reported to the FREC?

A) Plea of nolo contendere to a crime
B) First-degree misdemeanor
C) Second-degree misdemeanor that occurred in Georgia
D) Small claims court case over commission dispute
Explanation

A

D) Small claims court case over commission dispute

61
Q

A warning for an initial offense that allows a licensee to correct the minor infraction without consequence is called

A) an administrative fine.
B) a citation.
C) a letter of reprimand.
D) a notice of noncompliance.

A

D) a notice of noncompliance.

Real Estate Exam! (20 decks)

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