C) Sellers decide they do not want to sell the property and refuse to allow the broker to release buyer's earnest money deposit. which statement is true regarding the federal telemarketing law (page 372), Municipal Airport - immune properties are city, county, state and federal gov't properties, Special Assessments are one-time taxes levied on properties to help pay for some public improvement that benefits property - typically levied on a front foot basis or per hookup basis for utility and sewer improvements. The purpose of the Do Not Call registry is to give consumers a choice regarding telemarketing calls. Good Faith Estimate (GFE) 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. Which business would be classified as a service industry? The right of the state to take property of a person who died intestate and without heirs is known as. According to the contract for sale and purchase, the buyer is due the rental income for the day of closing. This arrangement is, illegal, because the amount of compensation exceeds the allowable amount. An individual who repeatedly writes bad checks can be charged with. The tenant has what type of lease? C. The applicant must apply for a broker license under mutual recognition. When a loan is paid off in a lien theory state, which instrument should the lender prepare and give to the borrower? What is the final step in the real estate sale process? C) notification that the energy-efficiency rating of the structure may qualify the buyer for an energy-efficient mortgage. The referring tenants do not hold real estate licensees. Tax advantages of owning a home do NOT include A) deduction of hazard insurance expense on a principal residence. 5 /25 x 135,000 = 27,000 accrued depreciation. Less than $50,000 = $25,000 A brokerage firm represents a seller as a single agent. Homestead property is exempted from forced sale to satisfy judgement liens for debts owing to personal loans, CREDIT CARD DEBT, etc. The licensee sued the seller's broker and was awarded a judgment. Which statement is FALSE concerning federally related transactions? 34,840 / .12 = $290,250 max purchase price. (page 99), Moral Turpitude involves conduct contrary to honest, good morals, accepted custom (i.e. statement is TRUE. On June 29, - stradanove.net Azure Exam Prep Questions Flashcards | Quizlet PDF United States District Court District of Massachusetts Subtract The developer sold the lots for $250 per front foot. B) It is in the licensee's best interest not to request reimbursement from the fund, because the licensee's license would be suspended. It's one mile square of 640 acres. Many of these lawsuits seem outrageously frivolous, while others deal with incredibly serious matters. It's one mile square of 640 acres, Range 1 West is located immediately west of the principal meridian and base line. Telemarketing Laws - FindLaw A) Monthly payments remain constant, and the interest portion comprises the majority of the payments. Limited partners must register with the FREC under the limited partnership name. Lynn Amherst is a sales associate for Excel Realty. 6. Total $26,000, Tax advantages of owning a home do NOT include, Deductions of hazard insurance expense on a principal residence. The SE1/4 of the SW1/4 of the N1/2 and the NE1/4 of the SW1/4 of Section 19 contains how many acres? Runners crossing the finish line in the Boston Marathon. A real estate licensee purchased a home from the seller. The Division of Marketing Practices periodically issues informal staff advisory opinions in response to requests for interpretation of the Telemarketing Sales Rule. 640/4/4/2 = 20 Persons or entities making calls for telemarketing purposes must have a written policy, available upon demand, for maintaining a do-not-call list. Accretion is the process of land buildup from water-borne rock, sand, and soil. Featuring infinite contrast ratio and VESA Display HDR True Back 400 for remarkably vivid colors and visuals bursting to life. 20-cv-10857, Judge Burroughs construed two disputed terms in a patent relating to a method of aligning a laser projector for projecting a laser image onto a work surface.. 1. The Florida Real Estate Commission (FREC) issued a seven-year suspension of a broker's license. 47 Usc Chapter 5, Subchapter Ii: Common Carriers 156) Which expense is deducted to derive effective gross income? Save our Home (SOH) regulates that the assessed value of a property can only increase 3% annually or the % change of the CPI for the preceding year; whichever is LESS. Homestead protection does not prevent foreclosure for nonpayment of property taxes, special assessments, mortgages, vendors' liens, or construction liens secured with homestead property. The broker must retain the disclosure documents for five years even if a nonresidential transaction that used designated sales associates fails to close. 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. Which type of depreciation is associated with inefficient architectural design? It does require that buyer, before signing a sale contract, receive an information brochure notifying the purchaser of the option for an EE rating on the building. The law applies broadly to a "telephonic sales call." "Telephonic sales call" is currently defined as "a telephone call, text message, or voicemail transmission to a consumer for the purpose of soliciting a sale of any consumer goods or services, soliciting an extension of credit for consumer goods or services, or obtaining information that will Three brothers join together to purchase property. Which expense is deducted to derive effective gross income? allows a sales associate or broker associate employed by an owner-developer to sell property for all the affiliated entities owned by the developer. Federal government websites often end in .gov or .mil. Looking for legal documents or records? A) A section is a square one mile on each side B) A section contains 640 acres C) A section contains 43,560 square feet D) A section has an area of one square mile, The FALSE statement is the a SECTION contains 43,560 sf. Which request should be made by the broker's attorney so that the broker can continue to work during the appeal process? How much is the minimum cash investment on an FHA loan? The loan officer has three business days to give the loan applicant a copy of the information booklet. You are appraising a four-year-old, single-family residence. A local lender charged 4 percent interest plus 4 points on a conventional mortgage loan. You are appraising a four-year-old, single-family residence. C) Limited partners are personally liable for the debts of the partnership. The licensee was unable to collect on the judgment and is considering submitting a claim to the Real Estate Recovery Fund. (PAGE 190), Which statement concerning sections is FALSE? B) The loan applicant can sue the credit union for violating the Fair Housing laws. FLORIDA REAL ESTATE UNIT 5 Flashcards | Quizlet End of Pre-License Course Exam Questions - RealEstateExamAnswers.com If your lot frontage on the street is 90 feet, what is your portion of the special assessment? Companies also need to be familiar with rules banning most forms of robocalling. 71,820 - 36,990 = 34,840 NOI Revere Advocate 03/03/2023 - publizr.com A written contract for sale and purchase of commercial property that used designated sales associates failed to close. Working Advantage - Employee Discounts The landlord pays the property taxes, hazard insurance, and maintenance expenses. Telemarketing - Consumer Protection Topic - Alaska CREDIT TO THE BUYER ONLY - the buyer pays the binder deposit when the contract info is entered into - entered as a credit to the buyer since this portion of the purchase price has already been paid and will not be paid again. We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. What was the approximate yield on the loan? 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. The Telecommunications Consumer Protection Act of 1991 (TCPA) is a piece of U.S. federal legislation that set guidelines for telemarketing practices in response to consumer complaints. which statement is true regarding the federal telemarketing law? According to figures obtained from a cost-estimating service, the base construction cost per square foot of livable area is $92, and $76 per square foot for the garage. Deeds and Mortgage Instruments Deductions of hazard insurance expense on a principal residence. The seller told her broker that she was revoking the counteroffer and accepting the buyer's original offer. Which property is immune from property taxes? Using the lump-sum age-life method, find the depreciated value of the building. To protect themselves catalog marketers should ask 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. Within how many days must a landlord notify a tenant of intentions to claim part of the security deposit? The buyer did not accept the seller's counteroffer. The .gov means its official. TELEMARKETERS FOR ELECTRIC SUPPLIERS - Connecticut General Assembly The earnest money deposit normally appears on the closing statement as a. Compared with the subject property, the comparable is built of superior materials ($20,000) and the comparable has more square footage ($25,000). The seller cannot now accept the original offer, because it was killed by the counteroffer. Which property is immune from property taxes? a) The name on the real estate brokerage firm for which the associate works must be printed on the key rings b) As long as the sales associate is paying the entire cost of the rings, he can put any wording on them he chooses. Facebook Instagram. 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. AND, IT WILL PROTECT THE NEW OWNER (IF TRANSFERRED) UP TO THE UNPAID BALANCE OF THE MORTGAGE LOAN. Is the broker required to retain the brokerage relationship disclosure documents, and if so, for how long? On July 1, 2021, Florida enacted a comprehensive new telemarketing law that arguably goes beyond the federal Telephone Consumer Protection Act ("TCPA"). The Florida Building Energy-Efficiency Rating Act does NOT require A) the seller, at the seller's expense, to conduct an energy-efficiency rating of the structure prior to closing. On February 17, the Justice Department, together with the Federal Trade Commission (FTC), announced a civil enforcement action against several corporate and individual defendants for alleged violations of the FTC Act and the Telemarketing Sales Rule (TSR) in connection with telemarketing campaigns that have involved millions of illegal robocalls. 2. refinancing of real property or interests in real property SUBCHAPTER IICOMMON CARRIERS Part ICommon Carrier Regulation 201. Contract to purchase a shopping center (page 58). A complaint legally sufficient if it contains facts indicating that a violation of any of the following has occurred. Widow: $500 What is the annual IRS depreciation deduction? c. There are no federal laws that regulate This problem has been solved! Which statement is TRUE regarding the federal telemarketing law? An individual who repeatedly writes bad checks can be charged with, Moral Turpitude involves conduct contrary to honest, good morals, accepted custom (i.e. hotelroyalvasto.com Informacin detallada del sitio web y la empresa The first broker to secure a buyer who is ready, willing and able to purchase at the terms of the listing is the PROCURING CAUSE and earns the commission. The constitutional homestead law protects real property from forced sale to satisfy which type of delinquent debt? The applicant has met the requirements to become a licensed broker and is qualified to take the state license exam. Call Lynn Amherst, Excel Realty 333-2020 (cell). Lina M. Khan was sworn in as Chair of the Federal Trade Commission on June 15, 2021. 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. C) The loan officer can be fined by the Department of Housing and Urban Development (HUD). Which type of window is the least energy efficient? Real estate licensees may not represent a CMA as an appraisal. Licensees must notify the DBPR in writing within 10 days of a change in current mailing address. Tenancy at Sufferance - without the consent of the landlord. Unit Exam 2 Flashcards | Quizlet Prohibits telemarketers from calling Arizona residents between the hours of 9 p.m. and. Calculate the reproduction cost new of the structure. THIS AGREEMENT AND PLAN OF MERGER AND REORGANIZATION (this "Agreement") is made and entered into as of February 19, 2014(the "Agreement Date"), by and among Facebook, Inc. is exempt from the sales associate course; however, she must pass a written Florida-specific real estate law exam. PGI - V&C = EGI A written contract for sale and purchase of commercial property that used designated sales associates failed to close. required by Florida law to verify that license applicants are current on child support payments. Which statement is TRUE regarding this situation? A licensee may not earn credit for attending a FREC meeting if the licensee is on the legal agenda for disciplinary action. Session Law - Acts of 1997 Chapter 164 - EU-Vietnam Business Network (EVBN) The land value is 20 percent of the total acquisition cost. The brokerage relationship disclosure requirements in Chapter 475, Florida Statutes, do NOT apply to which transaction? Property taxes are paid in arrears - so seller has paid no taxes that month. National Do Not Call Registry - Wikipedia $52,000 x .07375 = 3,835 / 12 = 319.58 The brokerage can work with the buyer, in the same transaction. A local lender charged 4 percent interest plus 4 points on a conventional mortgage loan. The Florida Real Estate Commission (FREC) issued a seven-year suspension of a broker's license. If the annual operating expenses amount to $36,990, and a prospective investor insists on at least a 12 percent overall rate of return, what is the maximum amount the investor should pay for the property? The land value is 20 percent of the total acquisition cost. What is the final step in the real estate sale process? The answer is ACCRETION. Calculate the reproduction cost new of the structure. The stepson's interest is that of, The process of land buildup from water-borne rock and soil is referred to as. The broker must notify the Florida Real Estate Commission in writing within 15 business days of the buyer's and seller's conflicting demands for the earnest money. The tenant has a tenancy, Tenancy at Will - if the tenant's holding over is continued with the written consent of the lessor, the tenancy becomes a tenancy at will under FL law. How will the property taxes be entered on the closing statement? A closing is set for July 15. Management considerations is one of the disadvantages of investing in RE. Wattage is the measurement of the amount of energy consumed. A person who rents lots in a mobile home park. D) Limited partners may participate in management activities of the limited partnership. FCC Actions on Robocalls, Telemarketing | Federal Communications Commission Main Menu The earnest money deposit normally appears on the closing statement as a. The seller is still owed the entire amount of the purchase price. Brad Dye's Paging Information Resource Also, created a uniform statewide rating system for rating new and existing residential, commercial and public buildings. Tenancy at Will - if the tenant's holding over is continued with the written consent of the lessor, the tenancy becomes a tenancy at will under FL law. Which statement is TRUE regarding this situation? Telemarketing | Federal Trade Commission Which item would be classified as a fixed expense in the calculation of net operating income? press system to optout of receiving their prerecorded telemarketing messages;(2) to add the consumers' telephone numbers to the seller's do-not-call list; (3) to immediately disconnect the call; and (4) when leaving a message regarding a telemarketing call, the small business must A building is valued at $135,000 with an estimated 25-year useful economic life. Compared with the subject property, the comparable is built of superior materials ($20,000) and the comparable has more square footage ($25,000). Which statement is TRUE? Monthly payments remain constant, and the interest portion comprises the majority of the payments. Total = 14,500 + 3,000 = $17,500. Municipal Airport - immune properties are city, county, state and federal gov't properties - others are exempt only, which are subject to taxes, but are released from obligation, Local government can recover the cost of widening a street in an existing neighborhood by charging the neighborhood property owners a. InVirtek Vision International ULC v.Assembly Guidance Systems, Inc. d/b/a Aligned Vision, No. Within how many days must a licensee notify the Department of Business and Professional Regulation of a change in current mailing address? Telemarketing | Federal Communications Commission A buyer offered $225,000 for a seller's property. Which type of listing allows the seller to list the property with other brokers? The seller countered at $250,000. D) Principal payments remain constant while interest payments increase. A) The federal telemarketing law exempts telephone surveyors. A buyer and seller enter into a contract for sale and purchase of a home.
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