Azure Exam Prep Questions Flashcards | Quizlet Which statement is FALSE regarding earning continuing education (CE) credit by attending a legal agenda session of the monthly Florida Real Estate Commission (FREC) meeting? D) Federally related transactions include transactions for the sale, lease, or purchase of real estate. Study with Quizlet and memorize flashcards containing terms like Which type of business entity is at risk of no longer continuing if the owner becomes incapacitated?, Certain age-55-and-older communities are exempt from the familial status provisions of the Fair Housing Act if the communities offer amenities, specific programs, and activities designed for the mature adult and, Capri Realty is . The developer sold the lots for $250 per front foot. 1. Placement of the windows is most important on which type of lot if the homeowner is concerned about the possibility of vehicular headlights shining into the front windows? Florida Changes its Telemarketing Laws | Jones Day Listed here are some FTC laws about specific marketing practices and the promotion of products and services in specific industries. Ann. Which statement is TRUE? What is the adjusted sale price of the comparable? The Florida Building Energy-Efficiency Rating Act does NOT require. Is this transaction covered under Truth in Lending Act? A parcel of real estate has been left to the wife through her husband's will for the widow's use and enjoyment during her lifetime, with the provision the property goes to the widow's stepson at her death. A person who rents lots in a mobile home park. The RE licensee is not eligible to make a claim against the Real Estate Recovery Fund. A broker working in a no brokerage relationship capacity with a seller can enter into a listing agreement with that seller and be paid a commission. 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. Total $26,000, Tax advantages of owning a home do NOT include, Deductions of hazard insurance expense on a principal residence. Which statement is FALSE concerning federally related transactions? Working Advantage - Employee Discounts Ohio Consumer Protection Laws The Ohio Attorney General has enforcement authority over more than 25 consumer protection laws, which are listed below with a brief overview of key protections that consumers have under the laws. The garage is 485 square feet. Which brokerage relationship is BEST suited to this couple? The contract is contingent on a radon test. D) The VA can make direct loans to veterans. UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF FLORIDA FEDERAL TRADE COMMISSION, Plaintiff, V. JUSTIN RAMSEY, individually and as an officer of Data Guru LLC, Tailbone Security LLC, and Prime Marketing LLC, BRIAN OFFNER, individually and as an officer of Data Guru LLC, Tailbone Security LLC, and Leading Apex LLC, CHRISTOPHER HERGHELEGIU, individually and as an officer of Data Guru LLC and . Which type of listing allows the seller to list the property with other brokers? In 1991, Congress adopted the Telephone Consumer Protection Act (TCPA) to restrict the use of automatic telephone dialing systems and artificial or prerecorded voice messages (robocalls). The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. 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. NOI = Cap Rate x Value (sale price) What was the approximate yield on the loan? The answer is ACCRETION. Using the lump-sum age-life method, find the depreciated value of the building. Subtract 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 buyer offered $225,000 for a seller's property. C) Principal comprises the majority of the payments. Telemarketing - Florida Commissioner of Agriculture The covenant of warranty forever is included in which type of statutory deed? A) Real estate licensees may call all the for-sale-by-owner sellers in a community to solicit listings without regard to whether the homeowners are listed on the do-not-call registry. (page 364), Liquidation analysis, reproduction cost analysis, and income capitalization analysis (and comparable sales analysis), Management considerations is one of the disadvantages of investing in RE. You are appraising a four-year-old, single-family residence. Reproduction cost: Which characteristic is a disadvantage of investing in real estate? Section 31 would be located in which corner? 8-K: Oak Street Health, Inc. - MarketWatch The brothers want their interest in the property to go to their spouses in the event of their deaths. Which document must a prospective buyer of an existing (resale) condominium unit receive? (page 169), The answer is ACCRETION. A tenant, unable to contact the landlord or the landlord's representative prior to the expiration of a written lease, continues to pay the rent and occupy the premises after the lease expired. Local government can recover the cost of widening a street in an existing neighborhood by charging the neighborhood property owners a. Hazard Insurance is included as part of a fixed expense (also ppty taxes) Mortgage payments are not considered an opex because they are not directly associated with the maintenance and operation of the property. The landlord pays the property taxes, hazard insurance, and maintenance expenses. Which mortgage clause requires the lender to waive the right to a deficiency judgment against the borrower, relieving the borrower of personal liability to repay the loan? Complaint resolution for homeowner associations is provided by which division of Florida government? (Round answer to nearest dollar. 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. RESPA disclosures at time of loan or within 3 business days of: At resale, buyer entitled to copy of declaration of condominium, articles of incorporation, bylaws, rules of assoc, FAQ, copy of most recent year end financial statement and GOVERNANCE FORM. A) The real estate licensee is eligible to make a claim for recovery from the fund, because the licensee acted in the capacity of a buyer. Division of Florida Condominiums, Timeshares, and Mobile Homes is charged with providing complaint resolution for HOAs. The associate continues to be employed by the same broker, who has an office in Atlanta. Stay of Enforcement, if granted, stops the enforcement of a suspension or revocation in the final order pending the outcome of the appeal process. The Federal Communications Commission (FCC) enforces the Telephone Consumer Protection Act (TCPA), which also regulates telemarketing. 1. transactions for the sale, lease or purchase of RE End of Pre-License Course Exam Questions - RealEstateExamAnswers.com Special Information Booklet (HUD) (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. Vendor's Lien - equitable lien of the grantor (seller under a PMM) on the land conveyed in the amount of the unpaid purchase price. The Florida Real Estate Commission (FREC) issued a seven-year suspension of a broker's license. Compared with the subject property, the comparable is built of superior materials ($20,000) and the comparable has more square footage ($25,000). Which individual is exempt from licensure under Florida Statute 475? A tenant, unable to contact the landlord or the landlord's representative prior to the expiration of a written lease, continues to pay the rent and occupy the premises after the lease expired. Please note that the following information is for educational purposes only, and additional laws may apply. Included advantages: Facebook Instagram. What was the approximate yield on the loan? FL law does not require that prospective buyers and seller be represented. Stephanie T. Nguyen, Chief Technology Officer, Competition and Consumer Protection Guidance Documents, HSR threshold adjustments and reportability for 2023, A Century of Technological Evolution at the Federal Trade Commission, National Consumer Protection Week 2023 Begins Sunday, March 5, FTC at the 65th Annual Heard Museum Guild Indian Fair & Market - NCPW 2023, Franchises, Business Opportunities, and Investments, https://www.federalregister.gov/regulations/3084-AA98/telemarketing-sales-rule, 16 CFR Part 310: Telemarketing Sales Rule Fees; Final Rule Updating Fees Charged to Entities Accessing the National Do Not Call Registry, 16 CFR Part 310: Telemarketing Sales Rule Fees; Final Rule Updating Fees Charged to Entities Accessing the National Do Not Call Registry, 16 CFR Part 310: Telemarketing Sales Rule Fee; Final Rule That Updates Fees Charged To Entities Accessing the National Do Not Call Registry, Agency Information Collection Activities; Submission for OMB Review; Comment Request; Notice (Telemarketing Sales Rule), Telemarketing Sales Rule Information Collection Activities; Proposed Collection; Comment Request, 16 CFR Part 310: Telemarketing Sales Rule: Final Rule Amendments: Federal Register Notice Containing the Final Telemarketing Sales Rule Amendments and the Statement of Basis and Purpose, 16 CFR Part 310: Telemarketing Sales Rule Fees; Notice Advising That There Will BE No Fee Increase for Accessing the National Do Not Call Registry for Fiscal Year 2016, 16 CFR Part 310: Telemarketing Sales Rule; Extension of Comment Period for Rule Review to November 13, 2014, 16 CFR Part 310: Telemarketing Sales Rule Fees; Final Rule Amending TSR Fees Charged to Entities Accessing the National Do-Not-Call Registry, as Required by the Do-Not-Call Registry Fee Extension Act of 2007, 16 CFR Part 310: Telemarketing Sales Rule Federal Register Notice: Rule Review Request for Public Comments as Part of the FTCs Systematic Regulatory Review, Modified Ten-Year Regulatory Review Schedule; Notice of Intent to Request Public Comments, 16 CFR Part 310: Telemarketing Sales Rule; Notification of Termination of Caller ID Rulemaking Federal Register Notice, 16 C.F.R. Governance Form summarizes board of directors and the rights of the unit. Civil Rights Act of 1866 prohibits any type of discrimination based on race in any real estate transaction (sale or rental) without exception. A satisfaction of mortgage is given by the lender to the borrower when the loan is paid off, must be sent to mortgagor within 60 days. Within how many days must a landlord notify a tenant of intentions to claim part of the security deposit? Which statement is TRUE regarding this situation? The lender's policy protects the lender against title defects. Remainderman - 3rd party fee simple ownership at end of life estate by wife. The TCPA restricts telephone solicitations (i.e., telemarketing) and the use of automated telephone equipment. PDF United States District Court District of Massachusetts Management considerations is one of the disadvantages of investing in RE. Civil Rights Act of 1866 prohibits any type of discrimination based on race in any real estate transaction (sale or rental) without exception. Functional Obsolescence - operational inadequacies, poor design, or changing tastes and preferences. 2003-2023 Chegg Inc. All rights reserved. Only 2 members must be consumer members who have never been brokers or sales associates. The licensee sued the seller's broker and was awarded a judgment. a. Telemarketing | Federal Trade Commission A) The seller can revoke her counteroffer and accept the buyer's original offer up until the time the buyer rejects the counteroffer. (page 362), Jalousie - window is almost impossible to seal; therefore, it's the lease energy efficient. The extensible markup language (XML) is a markup language promoted by the World Wide Web consortium (W3C). Florida's telemarketing law became invalid when federal telemarketing laws were implemented. Federal government websites often end in .gov or .mil. Find the resources you need to understand how consumer protection law impacts your business. Index plus Margin equals Calculated Interest Payment on an ARM, Ginnie Mae (GNMA) serves as a guarantor of mortgage-backed securities. TILA/Reg Z makes "Bait and Switch" advertising a federal offense. An EARNEST MONEY DEPOSIT is desirable to protect the seller, but it's not required to make a contract valid. Which statement is TRUE regarding this situation? The statute of frauds requires that contracts conveying an interest in real property and contracts that aren't to be performed within one year of the date created must be. The total square footage of the livable area is 2,600. What is the state's intangible tax on a new mortgage of $10,000?

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