Unit 1: Can a new licensee specialize in the sale of farm and ranch property?

Yes, a new licensee can specialize in agricultural real estate

Not until the licensee has at least five years of experience in agricultural real estate

Not until the licensee passes additional courses in agricultural real estate

Yes, as long as the new licensee has a degree in agriculture

Unit 1: The Florida real estate sales associate examination consists of which of the following?

20 matching questions and 30 multiple choice questions.

30 true and false questions and 20 short answer questions

50 short answer questions and 50 True False questions

Unit 1: To sit for the real estate sales associate examination, you must provide proof of _______.

Pre-licensing course completion

Unit 1: Which of the following is true when a Florida sales associate is issued a real estate license?

If the licensee chooses to perform real estate services for compensation, the licensee must be licensed and registered as active with the DBPR.

The sales associate license does not require any additional education requirements to remain on active status once it’s issued.

The sales associate licensee can work independently to perform real estate services for compensation.

The sales associate license is automatically issued as active.

Unit 1: Gracen has had his sales associate license for five years. He’s completed the FREC-approved 72-hour pre-licensing course for brokers. Which of these statements about Gracen obtaining a broker's license is true?

He must pass submit his application and pass his broker's license exam.

He needs to activate his license before he can become licensed as a broker.

He needs to find an employing broker.

He's eligible to obtain his broker's license.

Unit 1: Elliott is a 19-year-old Florida real estate sales associate who would like to get his broker's license so he can open his own office. Is he qualified to become a licensed real estate broker in Florida?

No, because he has not been licensed for two years.

No, because the minimum age for broker licensing is 21.

Only if he has completed the required 72 hours of CE.

Yes, because the minimum age for broker licensing is 18.

Unit 1: In Florida, what’s next for licensee candidates who have completed their broker pre-licensing course successfully and have had their broker license application approved?

The candidate needs to pass the real estate broker license examination.

The candidate needs to register with an employing broker.

The candidate will be issued a broker license.

The candidate will be issued a sales associate license.

Unit 1: What’s next for licensee candidates who have successfully passed the real estate sales associate examination?

Their sales associate license will need to be activated.

Their broker license will need to be activated.

They are ready to start performing real estate services.

They will need to complete their pre-licensing course requirement.

Unit 1: You decide to help negotiate the sale price of a buddy’s place, even though you don’t yet have a license. After the sale, he pays you $50 in appreciation for your efforts. Why would this be illegal?

Without a license, you can’t accept compensation for real estate services performed for others.

Anything over $25 is an illegal form of compensation to anyone without a license.

It’s illegal to offer advice about real estate unless you’re licensed.

You didn’t have a compensation agreement in writing before the sale.

Unit 1: A person who's performing real estate activities under the judgment or order of a court, such as a trustee in a bankruptcy, is ______.

Not required to have a real estate license

Required to have a broker license

Required to have at least an associate broker license

Required to have at least a salesperson license

Unit 1: A real estate license is required ______.

When performing real estate activities for others, for compensation of any kind

When performing maintenance work for one property owner

When performing real estate activities for others, without receiving compensation

When performing real estate activities for yourself

Unit 1: If a licensee commits a violation and it’s found that the broker did not adequately supervise the licensee, whose license is in jeopardy?

Both the broker’s and licensee’s licenses

Unit 1: Sophia was running late to a meeting with a potential seller she wants to represent. In her hurry, she left her briefcase with her paperwork at the office, including the single agent notice that Florida law requires the seller to sign. What should Sophia do?

Turn her car around and go back for the single agent notice so that she can properly disclose to the seller her duties before listing or showing the property, or agreeing to do so.

As long as Sophia abides by her duties to the seller, she’s fine and can skip the paperwork.

Inform the seller about her duties as a single agent. The disclosure just needs to be made before the sale closes.

Sophia can list the property, but she’ll need the signed disclosure before she shows the property.

Unit 1: Bob is a broker employing a sales associate, Rudy, whose real estate license was just changed to involuntary inactive status because Rudy didn’t complete his post-licensing education requirement. Rudy hasn’t yet submitted his renewal application, even though the deadline for doing so was two months ago. Can Bob let Rudy continue to perform real estate services?

No, Rudy may not perform real estate services while his license is in involuntary inactive status.

Yes, as long as Bob’s broker license is current, he can let his sales associate, Rudy, perform real estate services, even though Rudy’s license status changed to involuntary inactive.

Yes, Rudy has another year to make up the education requirement to renew and return his license status to active.

Yes, Rudy still has a license and may continue to perform real estate services while he completes the education requirement after the renewal deadline has passed.

Unit 1: The ______ Act was created by the Florida legislature to establish the legal rights and responsibilities of real estate licensees.

Real Estate Professional Practice

Residential Lead-Based Paint Hazard Reduction

Unit 1: Which of the following entities regulates real estate license law in Florida?

The Florida Real Estate Commission

Unit 1: At 64. Thomas is the only member of the FREC who is over 55 years old. What does this mean for him?

He meets the requirement of one commission member being over the age of 60.

He can serve more than two consecutive terms.

He is too old to be on the commission since the cutoff is 55.

When he turns 65 he will meet the age requirement for the FREC.

Unit 1: The Florida legislature, under FL §455.223-225, granted the DBPR the authority to ______.

Investigate consumer complaints

Impose imprisonment as a penalty

Unit 1: There is one opening on the commission. The current Commission has: 3 Brokers/1 Sales Associate/2 Consumers. Which individual is qualified to join?

A broker with at least five years of experience

A broker with at least two years of experience

A sales associate with at least five years of experience

Unit 1: Charlie represents Sue, a buyer, in a transaction. A licensee from another firm represents the seller, Claude. Claude will pay a 6% commission to his listing firm, and that firm will split the commission with Charlie's firm. Charlie will be compensated through his brokerage. What's true about this situation?

In this transaction, Charlie only represents Sue, and the other licensee only represents Claude.

Charlie and the other licensee are engaging in undisclosed dual agency.

Charlie's compensation comes from Claude, so Charlie is also Claude's agent.

Sue is now Charlie's customer because she's not compensating Charlie for his services as her buyer's agent.

Unit 1: Which of the following is the most serious consequence of treating a customer as a client?

Breaching your duty to your actual client

Unit 1: Marcy listed her property with Jennings Homes in March. The market was slow, and Marcy's property isn't in great condition—though she's sure she can get top dollar for it because of its location. Her agent encouraged her to either reduce the price or fix the property up, but she refused. Both Marcy and her agent are frustrated. What's the best option for both of them?

They can mutually agree to terminate the listing.

Bring in another agent to help price the property.

One party or the other should terminate the listing.

Unit 1: Alice listed a three-bedroom home for her client, but before she finds a buyer, the home burns to the ground. What happens to the agency agreement that Alice has with her client?

The agency agreement is terminated if the property is destroyed.

The agency agreement continues as created unless Alice and her client can mutually agree to terminate it.

The agency agreement must be extended until the home is rebuilt, or for six months, whichever is longer.

The agreement must continue, but it can be modified due to the changed value of the property.

Unit 1: Which one of the following actions would result in the legal termination of an agency agreement?

The term specified in the agency agreement expired.

The client wants the seller to make improvements to the property.

The client wants to attach an addendum to the sales contract.

There's an unexpected death in the agent’s family.

Real Estate Review of all Units Units 1-5

Authored by Melanie Reyes

Other

Professional Development

Used 5+ times

Real Estate Review of all Units Units 1-5

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Unit 1: Chantal specializes in helping people buy and sell office buildings and shopping centers. What is her area of specialty?

Commercial

Industrial

Residential

Special purpose

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Unit 1: In the real estate business, whose primary role is to manage properties for others?

Developer

Investor

Property manager

Real estate broker

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Unit 1: Brenda conducts brokerage activities and can receive compensation directly from buyers or sellers. She must be a ______.

Broker

Licensee working under a broker

Property manager

Sales associate

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Unit 1: Which of the following is an example of industrial real estate?

Church

Factory

Orchard

Shopping center

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Unit 1: In order to be considered REALTORS®, what must licensees do?

Have their real estate license for at least five years.

Join the National Association of REALTORS®.

Pass their broker exam.

Pass their initial licensing exam.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Unit 1: Office buildings, shopping centers, and hotels are examples of ____________ properties.

Commercial

Industrial

Residential

Special purpose

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Unit 1: In the real estate business, whose primary role is to perform a visual inspection of a property’s structure, systems, and site conditions?

Appraiser

Home inspector

Property manager

Real estate broker

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