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Real Estate - Chapter 1 & 2

Terms

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Building or construction is considered part of which type of real estate business?

a)subdividing
b)land development
c)marketing
d)financing
b)land development
The initial licensure of an applicant must be for what classification?

a)salesperson
b)broker
c)broker or salesperson
d)whatever category is most appropriate
a)salesperson
Partners in a real estate brokerage partnership who do not deal with the public in a sales capacity must hold what type of status?

a)active broker
b)active salesperson
c)registration
d)voluntary inactive
c)registration
A real estate appraiser's fee should be based upon:

a)a percentage of gross income
b)a percentage of fair market value
c)the amount of time spent and difficulty of appraisal
d)a percentage of selling price
c)the amount of time spent and difficulty of appraisal
Under what type of employer other than a licensed broker may a salesperson be licensed?

a)broker-salesperson
b)out-of-state broker
c)property owner / developer
d)attorney
c)property owner / developer
In addition to having licensure status, what must one have in order to act lawfully as a broker or salesperson?

a)license
b)driver's license
c)high school diploma
d)voter registration card

a)license
An applicant for licensure as a salesperson must meet all of the following requirements except:

a)be a natural person
b)be a resident of Florida
c)complete a sixty hour educational course
d)provide information regarding any conv
b)be a resident of Florida
What minimum age is necessary for licensure?

a)18 years
b)21 years
c)30 years
d)No minimum age required
a)18 years
The prospective member of NAR must subscribe to high professional standards expressed in the:

a)Code of Ethics
b)Florida Real Estate Handbook
c)Standards of Business Conduct
d)Handbook of Professional Practice
a)Code of Ethics
What status gives one the right to obtain a license?

a)resident of Florida
b)high school graduate
c)U.S. citizen
d)licensure
d)licensure
A real estate broker or salesperson is one who performs all of which of the following functions relating to real property for direct or indirect compensation?

a)appraises, auctions, sells, exchanges, fertilizes
b)auctions, appraises, meas
c)auctions,sells, appraises, exchanges, buys, rents, leases, advertises real estate services
In Florida, to be eligible for licensure as a broker, a salesperson must first:

a)be licensed for 12 months with one or more brokers within the preceeding five year period
b)be licensed with one broker for 6 months
c)be licensed with
a)be licensed for 12 months with one or more broker...
All of the following types of competence of knowledge are tested on the license examination except:

a)ability to sell real estate
b)nature of fraud and fraudulent conduct
c)nature of deeds, abstracts, contracts and mortgages
d)l
a) ability to sell real estate
The regulatory agency for real estate practitioners in Florida is:

a)FAR
b)SEC
c)FREC
d)BRE
c)FREC
The purpose of laws regulating real estate pracitioners is to:

a)limit the number of people who can enter the real estat business
b)ensure that real estate pracitioners attain high levels of competence
c)prevent the entry of unscrupu
d)protect the public
The terms "real estate broker" or "real estate salesperson" apply to all of the following except:

a)persons selling, exchanging or leasing industrial property
b)persons selling, exchanging or leasing cemetery lots
b) persons selling, exchanging or leasing cemetery lots
What is the licensing requirement for individuals who deal in business enterprises or business opportunities (business broker)?

a)they must be licensed as real estate brokers or salespersons
b)they must be licensed as mortgage brokers
a)they must be licensed as real estate brokers or salespersons

Deck Info

17

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