Term
| A transaction broker does NOT have which duty? |
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Definition
| Full fiduciary duties to both the buyer and the seller |
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Term
| A license becomes ineffective when it is |
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Definition
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Term
| A real estate brokerage company is a transaction broker for a buyer. They buyer wants to purchase a new home so the sales associate takes him to 3 model centers listed by 3 competing real estate companies. The sales associate must give a written no brokerage relationship notice to? |
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Definition
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Term
| Title to real property is technically conveyed when the deed is |
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Definition
| Voluntarily delivered and voluntarily accepted |
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Term
| Which variable does not influence demand? |
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Definition
| availability of construction loans |
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Term
| A real estate licensee is obligated to communicate to the seller....? |
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Definition
| All oral written offers,, regardless of how worthy they may be in the licensee's opinion |
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Term
| A single agent broker received an offer on a listed property at the sellers price and terms. Before informing the seller, the broker received a higher offer. She submitted only the 1st offer, and the seller, her principle accepted. the broker has??? |
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Definition
| Has violated her fiduciary duty to her principal |
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Term
| a man earned $7,500 commission by selling a coin-operated laundry business which has 6 more years before the expiration of its present lease. The man must...? |
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Definition
| Must be registered with the FREC as a real estates licensee |
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Term
| Three claimants have come before the commission requesting relief from the real estate recovery fund. All 3 were involved in the same real estate transaction, payment for their claims in the aggregate, is limited to..... |
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Definition
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Term
| The rate of interest that the federal reserve bank charges member banks borrowing from the federal reserve bank is referred to as |
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Definition
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Term
| Local government exercises it's greatest effect on the real estate business by...? |
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Definition
| Using Zoning, taxation, and the planning process |
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Term
| Which information must be disclosed to all prospective buyers? |
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Definition
| The home is situated in a flood-prone area |
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Term
| Which statement does NOT describe a planned unit development? |
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Definition
| Industrial parks are a welcomed offshoot of the PUD concept |
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Term
| A real estate broker is accused of taking money from the company escrow account to pay personal expenses.. What term describes this situation? |
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Definition
| Voluntary relinquishment for permanent revocation |
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Term
| A Licensee makes a statement that is material to the transaction as it were a fact. When Licensee is making a statement and does not know if it is true or false, this situations constitutes?? |
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Definition
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Term
| The DBPR may issue which penalty for an initial offense of a minor violation by a licensee? |
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Definition
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Term
| A man own a farm in fee simple. He deeds the farm to a friend until the friend dies, at which time a woman will acquire a fee simple title to the farm. The woman's interest in the farm is a ...? |
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Definition
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Term
| Business brokers appraise businesses using appraisal methods similar to real estate appraisal EXCEPT for the additional technique of |
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Definition
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Term
| What authority originates from the US Constitution and relates to protection of health and welfare of citizens at local levels? |
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Definition
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Term
| Which Element is NOT essential in a valid real estate sale contract? |
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Definition
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Term
| A provision in all mortgages that allows the delinquent mortgager to avoid foreclosure by paying all of the back mortgage payments |
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Definition
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Term
| The statute of limitation is the authority that outlines the.....? |
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Definition
| period of time during which a contract may be enforced |
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Term
| The Statute of FRAUD applies to....? |
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Definition
| Instruments of conveyance of real property |
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Term
| The documentary stamp tax on deeds is based on the......? |
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Definition
| Entire Sale Price of the Property |
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Term
| Which statement concerning tenancy by the entireties is FALSE |
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Definition
| The deed must specifically state intent to create such a tenancy |
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