Chapter 3

  1. Powers of DBPR include:
    • cease and desist orders
    • administer oaths
    • take depositions
    • issue subpeonas
    • adopt rules
  2. How many members belong to FREC and who appoints them?
    7 people all appointed by the Governor
  3. Break down the 7 members of FREC
    4 actively licensed real estate brokers that have been licensed in FL for at least 5 years prior to their appt.

    1 member may be any actively licensed real estate licensee who had been licensed in FL for at least 2 years prior to appt

    and 2 members (lay members) cannot hold or have ever held a real estate license prior to their apppt.

    1 member must be at least 60 years old
  4. List the 4 powers of the FREC
    • 1. Executive- publication of books and newsletters to keep licensees and the piblic informed of new and important changes in the law
    • 2. Quasi-legislative-
    • 3. Quasi-judicial
    • 4. Ministerial
  5. What are the different punishments the FREC can impose?
    reprimand, admistrative fine not to exceed $5k, placed on probation, suspend for up to ten years, or permanently revoke a license.
  6. How long is the initial license period?
    not less than eighteen months, but not exceeding two years. All licenses expire either on march 31 or sept. 30th of the appropriate year.
  7. How many employers may a sales associate work for?
  8. Group License
    a single real esttate license that can be obtainedif the sales associate or broker associate works for one owner developer with afficliated organizations providing real estate services in different geographical locations. The owner-developer must submit proof that various properties are owned in the name of different entities, but that the real estate ownership is connected and esentially the same
  9. Multiple Licenses
    only available to brokers,
  10. DBPR does not have the authority to issue a/an
    1. cease and desist order
    b. subpeoena.
    c. injunction
    d. notice of non compliance
    c. injunction
Card Set
Chapter 3
Real estate license law and commission rules