Section 2 Quiz

Jamie works as an unlicensed personal assistant for Sunshine Realty. Which task is she allowed by law to do? A.)gather information for a comparative market analysis B.)show property when you are out of town C.)call one of your buyers and discuss an offer D.)list a property when you are busy on another appointment

A.)gather information for a comparative market analysis Reason:An unlicensed assistant cannot perform real estate services but can gather information for licensees to perform real estate services.Reference: 2.11

Failure to complete the post-licensing required education prior to the renewal deadline will cause the license to become void. A sales associates may re-qualify by A.)retaking the pre-license course, passing the end-of-course exam, and passing the state examination. B.)waiting 30 days and retaking the post-licensing course. C.)paying a fine of $250 and passing the state licensing examination again. D.)passing the licensing state examination again.

A.)retaking the pre-license course, passing the end-of-course exam, and passing the state examination. Reason:The license is void if post-licensing education is not complete within 24 months, so the pre-licensing course and examination and state examination must be taken again.Reference: 2.11 and 3.1

Remuneration received for a broker price opinion (BPO) or comparative market analysis (CMA) represents a brokerage activity and must be paid A.)straight to the sales associate. B.)to the sales associate's broker. C.)to the escrow account. D.)in cash.

B.)to the sales associate's broker. Reason:Since performing a BPO or CMA constitutes real estate brokerage activity, the compensation collected in connection with that activity must be paid to the sales associate's broker/brokerage, who can then pay the sales associate.Reference: 2.2

Which activity may an unlicensed personal representative at an open house legally perform? A.)discuss seller's motivation with buyer B.)hand out materials C.)answer questions based on their personal opinion D.)prepare and let buyer sign the offer

B.)hand out materials Reason:Licensing is required to perform real estate services, so unlicensed assistants may only provide support services to a brokerage.Reference: 2.11

The Florida Statutes that define the general legal practice and procedure for the Department of Business and Professional Regulation (DBPR) and the licensees of all professions, including real estate, are Chapter 475 and Chapter A.)20. B.)120. C.)455. D.)718.

C.)455. Reason:Florida Statute Chapter 455 outlines general legal practice and procedure for the DBPR and sets forth the requirements concerning license examinations and the use of professional testing services.Reference 2.1

The Florida Administrative code that expands on the provisions of F. S. Chapter 475 is the A.)61G2 B.)61G5 C.)61J2 D.)61N

C.)61J2 Reason:The Florida Administrative Code 61J2 sets forth administrative rules developed by the Florida Real Estate Commission following the rulemaking process outlined in Chapter 120.Reference: 2.1

Once sales associates have completed their required post-licensing education, they must subsequently complete during every 2-year license period A.)only 3 hours of law and legal updates. B.)14 hours of law and legale updates. C.)at least 14 hours of continuing education for active and inactive licensees. D.)at least 14 hours of continuing education for active licensees, only.

C.)at least 14 hours of continuing education for active and inactive licensees. Reason:Fourteen hours of continuing education is required for all subsequent two-year renewal period. Involuntary inactive licensees can maintain their license by continuing to meet is requirement.Reference: 2.10

An owner of a unit at a 20-unit condominium complex informs the salaried manager that he will be out of the country for six months and would like a friend to rent the apartment while he is gone. The manager agrees to the six-month rental. Does he need a real estate license? A.)Yes, because the condominium complex contains more than ten units. B.)Yes, because the rental period the Manager had arranged was for more than one month. C.)No because the complex consists of condominiums and not cooperative apartments. D.)No, because the rental period arranged was for not more than one year.

D.)No, because the rental period arranged was for not more than one year. Reason:Certain individuals performing real estate services are exempt from licensure, including an employee who manages a condominium complex and leases units, provided the lease is for no more than one year.Reference: 2.11

Before Esther died, she named her friend Linda as her personal representative in her will. To participate in the sale of a real estate property owned by Esther, Linda A.)must hold a sales associate's license. B.)must hold a broker's license. C.)must contract with a licensed broker. D.)is not required to hold a real estate license.

D.)is not required to hold a real estate license. Reason:As the assigned representative for the estate, Jenny is acting as owner of the estate and does not require a license.Reference: 2.11

Attendance by a licensee at one legal agenda session for the FREC may be substituted for A.)fourteen hours of continuing education credit. B.)six hours of continuing education credit. C.)four hours of continuing education credit. D.)three hours of continuing education credit.

D.)three hours of continuing education credit. Reason:The core law course accounts for three hours of FREC-approved continuing education credit.Reference: 2.10