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GOLD COAST FINAL EXA M (100%
VERIFIED) GRADED A+ BY
EXPERTS
(a) Question: Which of the following 4 uses/has an
interpleader?MediationEscrow Disbursement OrderArbitrationLitigation
Correct answer: Litigation
(b) Question: All are ways to terminate an offer
except?Novationacceptancewithdrawal rejection and counter
Correct answer: Novation
Question: what are the the areas a realtor should be an
expert in?
Correct answer: MarketingValuation & Market
ConditionsProperty Transfer"MVP"
Question: Does one need to be a resident of the state or a
citizen of the U.S. to get a FL real estate license?
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Correct answer: to get a FL real estate license, you don't
need to be a citizen
Question: What must an applicant for a real estate license
do if he has been convicted of a crime?
Correct answer: must disclose all convictions
Question: Employment
Correct answer: an associate can only have one employer
at a time
Question: What's the grace period for a Sales associate's
first renewal? Post Licensing
Correct answer: no grace period, void and null
Question: Individuals who are exempt from licensure
Correct answer: Salaried Employees
Question: How long can one stay involuntary inactive?
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Correct answer: 2 years
Question: What happens to an associates license if a
broker's license is void, suspended, or revoked?
Correct answer: their license automatically becomes
inactive
Question: Multiple Licenses
Correct answer: issued only to active brokers if it is
clearly shown that such additional licenses are necessary to the conduct of legitimate business
Question: What is a Transaction broker
Correct answer: a broker who provides limited
representation to a buyer, seller, or both, in a real estate transaction
Question: Presenting Offers
Correct answer: must present all offers
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Question: A broker is entitled to compensation if they...
Correct answer: bring a buyer who brings an offer the
seller was looking for
Question: Listing Contract
Correct answer: broker's employment contract that states
the terms and conditions that the broker must meet to become eligible for compensation
Question: Referral Fees:I as the sellers agent promise kickback commission. Is this allowed?
Correct answer: yes, as long as this is disclosed to all
interested parties
Question: what if an attorney asks for a fee because they
referred a client to you?
Correct answer: you cannot give him a referral fee for
sending you a client