A) Limited partners must register with the FREC under the limited partnership name. The loan officer did not give the loan applicant a copy of the HUD information booklet concerning settlement costs at the time of loan application. If your lot frontage on the street is 90 feet, what is your portion of the special assessment? Which statement is TRUE regarding this situation? The associate must, An owner of an apartment complex pays $100 to each tenant who refers a person who becomes a tenant. Search the Legal Library instead. (page 166), Developers of 20 or more new residential units must also prepare a PROSPECTUS and file it which summarizes the major points detailed in the condo docs. A licensee who is issued a citation may be ordered to, If a licensee/respondent disputes any of the allegations outlined in the administrative complaint, the case must be heard in, When a consumer files a complaint against a real estate licensee that contains facts indicating that a violation of rules of the Florida Real Estate Commission has occurred, the complaint is said to be. For more information about the TCPA, contact the FCC at fcc.gov. On June 29, Gov. A Georgia real estate licensee moved to Miami five months ago. Complaint resolution for homeowner associations is provided by which division of Florida government? Call Us Today! Local government can recover the cost of widening a street in an existing neighborhood by charging the neighborhood property owners a. Which individual is exempt from licensure under Florida Statute 475? 34,840 / .12 = $290,250 max purchase price. Which statement applies to this situation? Which expense is deducted to derive effective gross income? (no more than $50 to an unlicensed person who is a tenant of the apartment complex for the referral fee - page 95). Persons or entities making calls for telemarketing purposes must have a written policy, available upon demand, for maintaining a do-not-call list. Monthly payments remain constant, and the interest portion comprises the majority of the payments. This arrangement is. The sales associate must notify the DBPR in writing within 60 days regarding her change in residency. 640/4/4/2 = 20 Which request should be made by the broker's attorney so that the broker can continue to work during the appeal process? Which requirement is one of the elements of a valid real estate contract? Runners crossing the finish line in the Boston Marathon. 145 x 2 = 290 The constitutional homestead law protects real property from forced sale to satisfy which type of delinquent debt? Which statement is TRUE regarding this situation? A couple are interested in purchasing residential investment property, and they have informed their sales associate that they want limited representation but do not want to be legally held responsible for the acts of a licensee. Our mission is protecting consumers and competition by preventing anticompetitive, deceptive, and unfair business practices through law enforcement, advocacy, and education without unduly burdening legitimate business activity. RE R V RE EVERE E R Vol. Interest on Home Equity Please note that the following information is for educational purposes only, and additional laws may apply. D) penalty-free withdrawal from an IRA if the money is used as a down payment on a personal residence (first time home buyers only). The tenant has a tenancy, Tenancy at Will - if the tenant's holding over is continued with the written consent of the lessor, the tenancy becomes a tenancy at will under FL law. On the first of the month, the seller collected total rent for September amounting to $950. The brokerage can work with the buyer, in the same transaction, A sales associate receives a deposit from a buyer on Wednesday morning. The licensee sued the seller's broker and was awarded a judgment. Ginnie Mae (GNMA) serves as a guarantor of mortgage-backed securities. (page 362), Jalousie - window is almost impossible to seal; therefore, it's the lease energy efficient. It does require that buyer, before signing a sale contract, receive an information brochure notifying the purchaser of the option for an EE rating on the building. Which statement about the economic concept of demand is FALSE? . (page 169), The answer is ACCRETION. . Seller refuses to sign the release of escrow funds. Also, created a uniform statewide rating system for rating new and existing residential, commercial and public buildings. The landlord pays the property taxes, hazard insurance, and maintenance expenses. TILA/Reg Z makes "Bait and Switch" advertising a federal offense. D) notification that the buyer may order an energy-efficiency rating on the building. D) Real estate licensees are exempt from the telemarketing laws. Section 31 would be located in which corner? These presidential actions can include executive orders, presidential memoranda, and proclamations. C) The seller has breached the buyer's contract, and the buyer can sue to force the seller to take a lower price. Featuring infinite contrast ratio and VESA Display HDR True Back 400 for remarkably vivid colors and visuals bursting to life. writing bad checks, crimes of larceny). Limited partners must register with the FREC under the limited partnership name. Lynn is preparing a classified ad for a listed property. Is this transaction covered under Truth in Lending Act? How will the property taxes be entered on the closing statement? Which statement is FALSE? A written contract for sale and purchase of commercial property that used designated sales associates failed to close. The constitutional homestead law protects real property from forced sale to satisfy which type of delinquent debt? C) Limited partners are personally liable for the debts of the partnership. A Poisson distribution might be a good approximation for which of the following? (page 267). B. call Sue for up to 18 months after she purchases a property through the brokerage firm C. call Sue if she has placed a "for sale" sign in the yard Which of the following statements about consumer protection laws is true? (Round answer to nearest dollar. The site is secure. 414.94 - 319.21 = 95.94 principal amount for month 2. Included advantages: Informacin detallada del sitio web y la empresa: hotelroyalvasto.com, +39873801950 Hotel Royal Vasto Marina - Hotel 3 stelle sul mare a Vasto Marina in Abruzzo Risk. Lynn's home phone number is 333-2020. AND, IT WILL PROTECT THE NEW OWNER (IF TRANSFERRED) UP TO THE UNPAID BALANCE OF THE MORTGAGE LOAN. EXCULPATORY CLAUSE is a provision in a mortgage or note in which the lender waives the right to a deficiency judgement against the borrower and the borrower is relived of personal liability to repay the loan. The seller countered at $250,000. Accretion is the process of land buildup from water-borne rock, sand, and soil. A broker is NOT required by law to notify the FREC of conflicting demands in which situation? The loan officer has three business days to give the loan applicant a copy of the information booklet. Telemarketing involves situations in which companies call consumers to sell their goods or services, or consumers call companies to make purchases in response to mailings or other forms of advertising. deliver the deposit check to the employer by the end of business on Thursday. Which statement is TRUE regarding this situation? a statement by you that you have a good faith belief that the disputed use is not authorized by the copyright owner, its agent, or the law; a statement by you, made under penalty of perjury, that the information provided in your notification is accurate and that you are the copyright owner or authorized to act on the copyright owner's behalf. (Round answer to nearest dollar. Calculate the proration and indicate who is debited and who is credited. A person who rents lots in a mobile home park. Servicing disclosure statement. A township has 36 parcels called "sections." Which type of listing allows the seller to list the property with other brokers? C) notification that the energy-efficiency rating of the structure may qualify the buyer for an energy-efficient mortgage. A sales associate moves from Jacksonville, Florida, to Atlanta, Georgia. (page 176). Compared with the subject property, the comparable is built of superior materials ($20,000) and the comparable has more square footage ($25,000). The street in front of your house is to be paved at a cost of $45 per foot. It does not require the seller, at the seller's expense to conduct and energy efficiency rating of the structure prior to closing. Which statement is TRUE regarding this practice? Calculate the reproduction cost new of the structure. 2. A local lender charged 4 percent interest plus 4 points on a conventional mortgage loan. (page 398), Save our Home (SOH) regulates that the assessed value of a property can only increase 3% annually or the % change of the CPI for the preceding year; whichever is LESS (page 395). B) The buyer and seller have entered into a contract for $225,000. Vendor's Lien - equitable lien of the grantor (seller under a PMM) on the land conveyed in the amount of the unpaid purchase price. which statement is true regarding the federal telemarketing law? For a violation of any of the telemarketing rules in Florida Statute Section 501.059, consumers can now sue to enjoin the violation and recover actual damages or $500, whichever amount is greater. The SE1/4 of the SW1/4 of the N1/2 and the NE1/4 of the SW1/4 of Section 19 contains how many acres? B) Real estate licensees may advertise their residential listings by faxing promotional flyers to a list of local businesses and hospitals that are on the do-not-call list. Total $26,000, Tax advantages of owning a home do NOT include, Deductions of hazard insurance expense on a principal residence. SB 1120, which went into effect July 1, 2021, imposes significant additional restrictions (and additional penalties for violations) on businesses making calls to Florida residents or Florida area. The Federal Communications Commission (FCC) enforces the Telephone Consumer Protection Act (TCPA), which also regulates telemarketing. SUBCHAPTER IICOMMON CARRIERS Part ICommon Carrier Regulation 201. Which statement is TRUE regarding this situation? The Telephone Consumer Protection Act (TCPA) was passed in 1991 in response to consumer complaints of increased marketing calls and automated, pre-recorded messages. b. self-serving bias e. social categorization, Briefly explain the importance of each of the following. The licensee was unable to collect on the judgment and is considering submitting a claim to the Real Estate Recovery Fund. Choose the correct concept with the example below: When Fern saw the man sitting on the steps in San Francisco holding a cup, she thought he was a homeless person. B) Federally related transactions do not include transactions associated with refinancing real property. Which statement MOST accurately describes the first year of a 30-year level-payment, fixed rate mortgage? The Florida Real Estate Commission (FREC) issued a seven-year suspension of a broker's license. Which statement regarding a limited real estate partnership is TRUE? allows a sales associate or broker associate employed by an owner-developer to sell property for all the affiliated entities owned by the developer. 2. refinancing of real property or interests in real property Which statement concerning Department of Veterans Affairs (VA) mortgage loans is FALSE? They have created which type of estate or tenancy? Tax advantages of owning a home do NOT include A) deduction of hazard insurance expense on a principal residence. 2. D) Buyer finds another property at a lower price and demands a refund of the earnest money deposit. B) tenants and buyers of all residential property. They have created which type of estate or tenancy? Display Type: Quantum Dot OLED Diagonal Size: 34.18" Curved Screen: Yes (1800R) Adaptive-Sync Technology: NVIDIA G-SYNC ULTIMATE Built-in Devices: USB 3.2 Gen 1 hub Aspect Ratio: 21:9 Native Resolution: 3440 x 1440 . Ann. The tenant has what type of lease? a) The name on the real estate brokerage firm for which the associate works must be printed on the key rings b) As long as the sales associate is paying the entire cost of the rings, he can put any wording on them he chooses. Within how many days must a licensee notify the Department of Business and Professional Regulation of a change in current mailing address? All national chartered commercial banks are members of which entity? An apartment building produces an effective annual gross income of $71,820. Widow: $500 The SE1/4 of the SW1/4 of the N1/2 and the NE1/4 of the SW1/4 of Section 19 contains how many acres? Reply 'Help' for help. The broker must notify the Florida Real Estate Commission in writing within 15 business days of the buyer's and seller's conflicting demands for the earnest money. 1. [1] Certain callers are required by federal law to respect this request. (page 91). "Work surface" Relying on an embodiment disclosed in the specification, the defendant contended that the scope of "work surface . Division of Florida Condominiums, Timeshares, and Mobile Homes is charged with providing complaint resolution for HOAs. A) Federally related transactions require an appraisal. which statement is true regarding the federal telemarketing lawrenal cancer symptoms Menu nfl flex schedule changes. These opinions are issued, pursuant to Rules 1.1 - 1.4 of the Commission's Rules of Practice, 16 C.F.R. After the closing, the licensee discovered that the seller's broker had failed to disclose latent defects. The buyer did not accept the seller's counteroffer. 640/4/4 = 40 The National Do Not Call Registry is a database maintained by the United States federal government, listing the telephone numbers of individuals and families who have requested that telemarketers not contact them. C. The applicant must apply for a broker license under mutual recognition. Which type of window is the least energy efficient? C) The real estate licensee must show that the license was active at the time the transaction was entered into. The covenant of warranty forever is included in which type of statutory deed? applicable regarding financial, home, travel, health, and insurance products and services. A gross lease is a lease in which the tenant agrees to pay a fixed rental amount, and the landlord pays all expenses related to the property such as real estate taxes, insurance, and maintenance costs. Licensees must notify the DBPR in writing within 10 days of a change in current mailing address. C) Real estate licensees may contact their former customers for up to 18 months following the closing of a transaction, even if the customer's name is on the national registry. The buyer did not accept the seller's counteroffer. 30 Days - if landlord is making a claim on the deposit, the landlord has 30 days to notify the tenant of the claim. A duplex is scheduled to close on September 10. 51,904.64 x .07375 = 3,830.56 / 12 = 319.21 This arrangement is, illegal, because the amount of compensation exceeds the allowable amount. Similarly, a brokerage firm working in a no brokerage relationship capacity can work with a buyer. We work to advance government policies that protect consumers and promote competition. 485 x 76 = 36,860 Which list of appraisal methods is unique to the appraisal of business enterprises? The referring tenants do not hold real estate licensees. The city has agreed to pay 25 percent of the paving cost and will assess abutting properties for the remainder. Within how many days must a licensee notify the Department of Business and Professional Regulation of a change in current mailing address? A) Claim against the Real Estate Recovery Fund B) Suit for compensatory damages C) Suit for specific performance D) Provision for liquidated damages, Claim against the RE Recovery Fund is for a result of license law violations by a licensee ($50k per transaction and mo more than $150K against on licensee involved in mult transactions, PAGE 129). Federally related transactions do not include transactions associated with refinancing real property. Tenancy at Will - if the tenant's holding over is continued with the written consent of the lessor, the tenancy becomes a tenancy at will under FL law. A broker is NOT required by law to notify the FREC of conflicting demands in which situation? The land value is 20 percent of the total acquisition cost. What is the final step in the real estate sale process? What is the adjusted sale price of the comparable? 3. The seller cannot now accept the original offer, because it was killed by the counteroffer. CREDIT TO THE BUYER ONLY - the buyer pays the binder deposit when the contract info is entered into - entered as a credit to the buyer since this portion of the purchase price has already been paid and will not be paid again. General warranty deed includes quiet enjoyment (peaceful possession undisturbed by claims of title), warranty forever (forever warrant and defend grantee's title), and further assurance (will help make title good in the future too), The lender's policy protects the lender against title defects.
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