Florida Real Estate Exam 105 Questions And Answers Set 02
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Terms in this set
105
Speculative Homes (spec)
involves purchasing one or more lots and constructing a home (or homes) without a buyer in advance of construction.
part III of chapter 475
Commercial Real Estate Sales Commission Lien Act, gives a broker lien rights for earned commission. This act applies only to commercial property (not residential property). The lien is only against the owner's net proceeds (personal property) from the sale and does not attach to the commercial real property (also see "Liens on Real Property" in Unit 5).
part IV
the commercial real estate leasing commission lien act, gives a broker lien rights for earned commission associated with a brokerage agreement to lease commercial real estate.
the occupational opportunity act
provides reciprocity to active duty and former active duty members of the U.S. armed forces and their spouses who hold a valid real estate license issued in another state or foreign jurisdiction.
you are exempt from post-license education if
you have a 4-year or higher real estate degree
you are not exempt from post-license education if
you are a Florida-licensed attorney
Broker Experience Requirements
1) the applicant has held an active associate license under one or more real estate brokers for at least 24 months during a 5 year period.
2) the applicant help an active real estate license while working as a salaried employee of a governmental agency for at least 24 months
3) the applicant held an active brokers license in another state or in any foreign jurisdiction for at least 24 months
2) the applicant help an active real estate license while working as a salaried employee of a governmental agency for at least 24 months
3) the applicant held an active brokers license in another state or in any foreign jurisdiction for at least 24 months
registration
the process of submitting information to the DBPR that is entered into Department records.
Licensure
is obtained when an applicant passes the state exam. passing the state exam gives the applicant the right to request and be issued a real estate license.
Chief Administrator and secretary of the DBPR are
appointed by the governor, and subject to confirmation by the state senate.