Florida Real Estate (Real Estate License Law) Questions and Answers Rated A

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Florida Real Estate (Real Estate License Law) Questions and Answers Rated A When did Florida pass its first Real Estate Law? ✔✔1923 When was the FREC created? ✔✔1926 What is the purpose of... the FREC? ✔✔protect the public What is the DBPR? ✔✔Department of Business and Professional Regulation What is the Mission of the Department? ✔✔to ensure that professions and businesses provide quality services for the health, safety and welfare of citizens and visitors in the great state of Florida What is the DRE? ✔✔Division of Real Estate What is the Division Responsible for? ✔✔Protects the public by regulating real estate and appraisal licensees examination, licensing and regulation verify the integrity of real estate salespersons and brokers by providing investigation and support to areas of complaints by consumers and other professionals as needed What is the FREC? ✔✔Florida Real Estate Commission What does the FREC do? ✔✔the enforcer of real estate rules and discipline Who appoints the members of the FREC? ✔✔appointed by the Governor How was real estate conducted in the past? ✔✔By Caveat emptor: "Let the buyer beware. Who does Caveat Emptor still apply to? ✔✔still applies to buyers and sellers who conduct their own real estate business without the aid of a professional What are the 3 categories of real estate licenses? ✔✔Sales associate Broker Broker Associate What is a sales associate? ✔✔A person who provides real estate services for another, for compensation under the direction, control and management of a broker What is a broker? ✔✔A person who provides real estate services for another, for compensation What is a broker associate? ✔✔Is a licensed broker who chooses to work as a sales associate under the direction of another broker How does an associate become active? ✔✔The associate becomes active by finding a brokeremployer or an owner-developer Is an applicant considered active or inactive when licensing requirements are met? ✔✔applicant is licensed as an inactive sales associate In order to apply for a real estate license what must a person have before applying? ✔✔Must be 18 years or older Have a high school diploma, or its equivalency [Show More]

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