Gold Coast Final Exam Questions and Answers (Graded A)
Question : what are the the areas a realtor should be an expert
in?
Correct answer: Marketing
Valuation & Market Conditions Property 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?
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 : We have an expert-written solution to this
problem!
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?
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 not an AGENT
Question : Presenting Offers
Correct answer: must present all offers
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
Question : Principal Brokerage office
Correct answer: -registration is good for 2 years
-can switch locations