#1
Which agency is responsible for regulating real estate professionals in Florida?
Florida Real Estate Commission (FREC)
ExplanationFREC regulates real estate professionals in Florida.
#2
What is the minimum age requirement to obtain a real estate sales associate license in Florida?
18 years old
ExplanationThe minimum age requirement is 18 years old.
#3
What is the duration of a real estate license in Florida before it needs to be renewed?
Two years
ExplanationLicenses need to be renewed every two years.
#4
Which of the following is NOT a requirement for becoming a real estate broker in Florida?
Having at least 10 years of experience as a sales associate
ExplanationNot required to have 10 years of experience as a sales associate.
#5
What is the purpose of the Florida Real Estate Recovery Fund?
To compensate individuals who suffer monetary damages due to fraudulent acts committed by real estate licensees
ExplanationIt compensates victims of fraudulent acts by real estate licensees.
#6
What is the difference between a real estate sales associate and a real estate broker in Florida?
Brokers can own and manage their own real estate offices, while sales associates cannot.
ExplanationBrokers can own and manage offices, unlike sales associates.
#7
In Florida, what is the maximum fine for a first-time violation of the real estate license law?
$10,000
ExplanationThe maximum fine for a first-time violation is $10,000.
#8
What is the purpose of the Florida Real Estate Education and Research Foundation (FREERF)?
To provide scholarships to aspiring real estate professionals
ExplanationIt provides scholarships to aspiring professionals.
#9
Which of the following is true about the Florida Real Estate Commission (FREC)?
FREC members are appointed by the Governor of Florida.
ExplanationFREC members are appointed by the Governor.