CHAPTER 5 REVIEW QUESTIONS

  1. A trade name must be registered with the ___ ___ ___ at the Department of State.
    Division of Corporations
  2. A sales associate can be a stockholder in a brokerage corporation but may not be an ___ or ___.
    officer, director
  3. A real estate brokerage corporation must have at least ___ active broker serving as an ___.
    one, officer
  4. Anyone, whether licensed or not, can be a ___ ___ in a real estate brokerage limited partnership.
    limited partner
  5. Two or more brokers who share office space but do not maintain their separate status as independent brokers could be charged as being ___ ___.
    ostensible partners
  6. The party who holds title to corporation sole property is called the ___ ___.
    sole titleholder
  7. A sales associate and a broker associate must report any change of employer or address change to the Department within ___ days on a form prescribed for such use.
    10
  8. When a broker has conflicting demands for funds held in escrow, he or she must report such conflict to the Commission within ___ days.
    15
  9. A broker who feels he or she is entitled to some or all of escrowed funds that are the subject of a dispute may submit the dispute to the court by filing an action for a ___ ___.
    declaratory decree
  10. A broker who places business or personal funds with escrowed funds has committed a form of fraud called ___.
    commingling
  11. A brokerage firm that operates under a fictitious name is required to register the name with the ___.
    Department or DBPR
  12. Fraud can occur ___ or ___.
    inadvertently, accidentally
  13. If rental information is sold to a prospective tenant, and the information is found to be materially incorrect, the applicant may request a refund of ___, provided the request is made within ___ days of the date of the contract.
    100%, 30
  14. A broker is responsible for the actions of their ___ or ___, regardless of whether or not the broker knew about the actions.
    partners, employees
Author
mccullochhelen
ID
331808
Card Set
CHAPTER 5 REVIEW QUESTIONS
Description
REVIEW QUESTIONS
Updated