Real Estate Brokers Exam 137 Questions And Answers
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Terms in this set
137
Which of these guidelines is not part of the IRS safe harbor test?
Income must be based on sales input.
Contractors must have access to workers compensation benefits.
The contractor must be licensed as a real estate salesperson or broker.
There must be a written contract in place.
Income must be based on sales input.
Contractors must have access to workers compensation benefits.
The contractor must be licensed as a real estate salesperson or broker.
There must be a written contract in place.
Contractors must have access to workers compensation benefits.
Which of the following must be included in an employment agreement?
Duty Assignment and Compensation
Management Structure and Benefits
Health Insurance and Expense Reporting
Travel Expenses and Sick Leave Policy
Duty Assignment and Compensation
Management Structure and Benefits
Health Insurance and Expense Reporting
Travel Expenses and Sick Leave Policy
Duty Assignment and Compensation
Which of the following must a broker legally provide to an employee?
A pension plan
Unemployment insurance
Health insurance
Sales commissions
A pension plan
Unemployment insurance
Health insurance
Sales commissions
Unemployment insurance
What can a broker require of his independent contractors?
They must work at the office.
They must receive a salary.
They must attend weekly sales meetings.
They must sign a written agreement.
They must work at the office.
They must receive a salary.
They must attend weekly sales meetings.
They must sign a written agreement.
They must sign a written agreement.
For an independent contractor, how is the issue of withholding tax dealt with by the broker?
The broker withholds tax monies.
The broker pays all withholding tax monies.
The broker does not withhold tax monies.
Independent contractors do not have to pay taxes.
The broker withholds tax monies.
The broker pays all withholding tax monies.
The broker does not withhold tax monies.
Independent contractors do not have to pay taxes.
The broker does not withhold tax monies.
Broker associate Amy may receive compensation directly from
any Florida licensee.
client.
any Florida broker or broker associate.
only her employing broker.
any Florida licensee.
client.
any Florida broker or broker associate.
only her employing broker.
only her employing broker.
Which of these statements about an independent contractor is true?
He or she gets a regular salary with bonuses.
He or she is reimbursed for all business expenses.
He or she is paid commission on all sales.
He or she will get three weeks of paid vacation every year.
He or she gets a regular salary with bonuses.
He or she is reimbursed for all business expenses.
He or she is paid commission on all sales.
He or she will get three weeks of paid vacation every year.
He or she is paid commission on all sales.
In an IRS audit, which of the following situations would cause the IRS to think that a contractor might really be an employee?
The license attends sales meetings.
The licensee gets a commission.
The licensee takes unpaid sick days.
The licensee receives an hourly wage.
The license attends sales meetings.
The licensee gets a commission.
The licensee takes unpaid sick days.
The licensee receives an hourly wage.
The licensee receives an hourly wage.
Sales associate Chris joined a brokerage as an independent contractor. Which of these will he probably have to pay for on his own?
Health insurance
Listing ads
For Sale signs
Contract forms
Health insurance
Listing ads
For Sale signs
Contract forms
Health insurance
In this type of program, an agent may start out at a lower percentage rate and then graduates to a higher rate as his or her production increases.
Advancement payment plan
Step plan
Graduated payment plan
Progressive plan
Advancement payment plan
Step plan
Graduated payment plan
Progressive plan
Graduated payment plan