What is the primary purpose of the Florida Real Estate License Law?
To protect real estate licensees
To protect brokers from the actions of their employees
To provide a code of ethics for licensees
To protect the public
A real estate licensee failed to renew his license within the two-year renewal cycle. If his license has been involuntary inactive for only six months, what must he do to renew the license?
Complete the required 14-hour continuing education, pay the renewal fee, and pay a late fee
Complete the 28-hour reactivation course, pay the renewal fee, and pay a late fee
Retake the pre-licensing education, pay an application fee, and retake and pass the state exam
Pay the renewal fee and apply for license reactivation
Home seeker Lindsay wants to increase her credit score so she can qualify for a conventional loan at a lower interest rate. To do this, Lindsay needs to focus on several factors that go into calculating a credit score. Which is NOT one?
Payment history and total amount owed
Income
New Credit
Types of credit and length of credit history
A business code of ethics would be best described as:
laws establishing illegal actions.
standards or values defining professional conduct.
penalties imposed for unprofessional behavior.
minimum standards for acceptable behavior.
Licensee Robert is preparing an advertisement for one of his listings. He must be careful with the words he chooses to avoid violating Fair Housing Laws. An example of a violation would be to say:
conveniently located close to shopping.
near a recently constructed golf course.
over 55 years of age neighborhood.
within walking distance of a temple.
Part III of F.S. 475 relates to the sale of commercial properties. If the property owner refuses to pay the negotiated commission rate, the statute allows the broker to place a lien against the net proceeds for:
the owner’s interest in the property.
all of the owner’s assets.
the owner’s personal property.
all of the owner’s interest in any real property owned by them.
Broker Oliva maintains a registered office in her residence. Where should Olivia position her office sign?
On or about the entrance to her office
At the entrance of her driveway
In her front yard
Nowhere, a sign is not required at her residence
Florida has written agreements with the real estate commissions of a few specific states that have similar education and experience requirements. What is this called?
Reciprocity
Mutual recognition
Mutual agreement
State recognition
If residential landlords want to find information governing their activities, which statute should they examine?
Chapter 83, F.S., Part I
Chapter 83, F.S., Part II
Chapter 475, F.S., Part I
Chapter 475, F.S., Part II
A developer contacted a licensee with questions about building a small housing development in an area that was a former gas station. What environmental topic should the licensee discuss with the developer?
Backfields
Greenfields
Wellfields
Brownfields
Sales associate Katie is preparing a promotional ad for her real estate services. What information is she required to include in the ad?
Broker’s personal name
Name of the brokerage firm
Name and phone number of the brokerage firm
Sales associate’s name, brokerage name, and address
All sales associates must work in an office that is registered with the DBPR in:
the principal office of the broker.
a branch office of the broker.
a permanent or temporary location.
the name of the broker.
Licensee Matt’s open house for his client was quite successful as he received multiple offers. In this situation, Matt should:
present only the highest offer to the seller and discard the rest.
present no more than three offers to the seller and discard the rest.
maintain a written record of the date that each offer was submitted to the seller.
personally counter the highest offer to get the buyer to increase their bid and then present the offer to the seller.
Select the TRUE statement regarding earnest money deposits.
On average, a standard earnest money deposit is at least 10% to 12% of the cost of the home.
Buyers who change their mind about the purchase of property will always receive their earnest deposit money back.
Most sellers refuse to accept earnest money deposits as part of a buyer’s offer.
An earnest money deposit is proof that the person is a good-faith buyer.
Sara who is an unlicensed personal assistant for a brokerage firm can do a variety of tasks. Which is one task that Sara is NOT permitted to do?
Hand out brochures at an open house
Assemble documents for a closing
Prepare a comparative market analysis
Schedule an appointment for a licensee to show a property
According to F.S. 475, the sale of which type of property is NOT considered a residential sale?
single-family home
10-unit apartment building
duplex
Five acres of agricultural property
Harry who is a Florida attorney in good standing wants to obtain his initial Florida real estate license. What is he required to do?
Take and pass the 63-Hour Real Estate Sales Associate Pre-License (FREC 1) course and pass the state sales associate licensing exam.
Pass the state sales associate licensing exam only, since he is exempt from taking the 63-Hour Real Estate Sales Associate Pre-License (FREC 1) course.
Pass a 40-question Florida real estate law exam only, since he is exempt from all other pre- licensing requirements.
Simply apply for the license since he is exempt from any other requirements.
Which statement is TRUE regarding the National Association of REALTORS (NAR) Code of Ethics?
All licensees must adhere to the NAR Code of Ethics.
The NAR Code of Ethics is part of Chapter 475, F.S.
The NAR Code of Ethics is part of Chapter 61J2, F.A.C.
All REALTORS agree to abide by the NAR Code of Ethics.
A landlord needs to enter a tenant’s residence to replace an old electric range. How many hours’ notice must the landlord give prior to entry of the residence?
12 hours
6 hours
4 hours
None; no notice is necessary
Joan’s license expired 14 months ago. If this is her third license cycle, what must she do to practice real estate again?
Take 28 hours of reactivation education and pass a 50-question test. Chapter 1, Page 3
Take 14 hours of continuing education and pay a late fee
Take the 63-Hour Real Estate Sales Associate Pre-License (FREC I) course and pass another state exam.
Take the 45-Hour Post-License course.
A tenant has stopped paying rent even though the landlord had made all requested repairs. In this situation, the landlord is NOT permitted to:
turn off utilities.
impose a claim on the security deposit when the tenant vacates.
email the tenant to remind them of the past due rent.
evict the tenant if no damages have occurred.
Gina is starting her search for a new home, but she isn’t sure if a past delinquent loan payment is still showing on her credit report. Under the Fair Credit Reporting Act, Gina may obtain a free copy of her credit report to check for errors:
once a year.
every two years.
every five years.
within six months of being denied credit.
Licensee Brian received a notice that a client filed an ethics complaint against him through the local association of REALTORS. In the complaint, Brian should review:
the standards of practice that were violated.
quotes from the NAR Code of Conduct Preamble.
the name of the ombudsman.
the list of articles in the NAR Code of Ethics that were violated.
Licensee Joni received two offers on the same listing, this is considered a(n):
violation of license law.
invalid offer situation.
potential conflict of interest.
multiple offer situation.
Which statement best describes the “Pathways to Professionalism”?
Enforceable standards of etiquette that licensees must follow
Rules for obtaining a Florida real estate license
Lists of potential networking opportunities for professional growth
A list of professional courtesies that licensees should follow
Broker Darren provides limited representation to the buyer, and he does not represent either the buyer or the seller in the transaction. This is the only brokerage relationship that does not have to be in writing. What type of relationship is this?
Single agency
Designated agency
Transaction broker
No brokerage
A seller received multiple offers on his home listed with licensee Nicky. Nicky has a responsibility to obtain the best price and terms for the:
lender.
buyer.
title company.
seller.
Britney is a single agent in a real estate transaction. As a fiduciary, who does Britney represent?
Both the seller and buyer
Neither the seller nor the buyer
Either the seller or the buyer
Only a seller; she cannot represent a buyer as a single agent
The new CEO of a major brokerage firm wants to create a stronger, more ethical business culture. To accomplish this, which strategy would be best?
Force all staff to take ethics training
Treat all staff the same
Hire ethical employees and fire unethical employees
Investigate only serious ethical complaints
The articles of the NAR Code of Ethics do NOT include:
duties to clients and customers.
duties associated with the Brokerage Relationship Disclosure Act.
duties to the public.
duties to other REALTORS.