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Florida Real Estate
Chapter 3
31
Real Estate & Planning
06/05/2005

Additional Real Estate & Planning Flashcards

 


 

Cards

Term
canceled
Definition
a license ceases to exist
Term
current mailing address
Definition
where licensee receives letters and so forth through the USP
Term
executive power of FREC
Definition
set policy and no one can question
Term
group license
Definition
permits sales associates to work from different offices throughout state owned by affiliated entities under one owner developer.
Term
ineffective
Definition
status of license when it becomes inactive or has been suspended.
Term
involuntarily inactive
Definition
license status that results when a license is not renewded at the end of the license period.
Term
multiple license
Definition
broker holds more than one brocker license; multiple real estate offices
Term
prima face evidence
Definition
requiring no further proof
Term
quasi-judicial power of FREC
Definition
Grant or deny applications, determine violations, administer penalties
Term
quasi-legislative power of FREC
Definition
power to interpret and enact administrative rules and regulations
Term
voluntarily inactive
Definition
licensee chooses not to engage in real estate and even though has met all requirments to engage.
Term
Purpose of FREC?
Definition
To protect the general public by regulating the real estate industry
Term
FREC consists of how many members?
Definition
7 (4 licensed Florida real estate broker who have held a license for the last 5 years, 2 non-licensed consumers, 1 licensed broker or associate who has held an active license during the last two years
Term
Who appoints FREC members?
Definition
Governor
Term
FREC members (Commissioners) serve how many years?
Definition
4 years
Term
How many consecutive terms may a FREC Commissioner serve?
Definition
2
Term
* at least one of the seven FREC members must be 60 years of age or older
Definition
*
Term
Can FREC send a licensee to jail?
Definition
No
Term
Who carries out the decisions and policies set forth by the commission?
Definition
Division of Real Estate (DRE)
Term
Purpose of Division of Real Estate (DRE)?
Definition
Provide all services required to administer the Florida Real Estate License Law
Term
Who appoints the Director of the DRE?
Definition
Secretary of the DBPR
Term
* DBPR employees all DRE personnel to support FREC activities
Definition
*
Term
Licensees must notify the DBPR in writing of any change in address within how many days
Definition
10 days
Term
How often must your license be renewed?
Definition
Every 2 years
Term
What is the status of your license if you failed to renew?
Definition
Involuntarily inactive status
Term
Who issues and renews all licenses?
Definition
DBPR
Term
* A Florida licensee who joins the US Armed Forces is exempt from all renewal requirements while on active duty & for 6 months thereafter
Definition
*
Term
Who handles all testing, grading and storing of exams?
Definition
DBPR
Term
What must a licensee do if his/her license has been involuntarily inactive for more than 12 months but less than 24 months?
Definition
Complete two 14-hour continuing education courses
Term
A license becomes void when? (3)
Definition
1) expired 2) revoked 3) canceled
Term
A license becomes ineffective when? (2)
Definition
1) inactive 2) suspended