The developer sold the lots for $250 per front foot. All national chartered commercial banks are members of which entity? 19 - Just Test Questions Flashcards | Chegg.com The referring tenants do not hold real estate licensees. Property taxes are paid in arrears - so seller has paid no taxes that month. C) All VA mortgage loans contain a due on sale clause. 3. use of real property or interests as a security for a loan or investment including mortgage-backed securities. Which lien is classified as a voluntary lien? D) The seller cannot now accept the original offer, because it was killed by the counteroffer. How many members of the Florida Real Estate Commission must be consumer members who have never been real estate brokers or sales associates? The sales associate must notify the DBPR in writing within 60 days regarding her change in residency. A Poisson distribution might be a good approximation for which of the following? Transaction Broker - in a transaction broker relationship the buyer or seller is not responsible for the acts of a licensee (page 58). SB 1120, which went into effect July 1, 2021, imposes significant additional restrictions (and additional penalties for violations) on businesses making calls to Florida residents or Florida area. Listed here are some FTC laws about specific marketing practices and the promotion of products and services in specific industries. Complying with the Telemarketing Sales Rule - Federal Trade Commission Listing Agreements for a term longer than 1 year. In an effort to address a growing number of telephone marketing calls, Congress enacted in 1991 the Telephone Consumer Protection Act (TCPA). How must the broker as agent handle the security deposits and advance rent? 63 hour Real Estate practice Exam (first 50) Flashcards | Quizlet (EDGAR Online via COMTEX) -- false 0001564406 0001564406 2023-02-08 2023-02-08 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM. Part 310: Telemarketing Sales Rule Fees; Final Rule Updating the Fees Charged to Entities Accessing the National Do Not Call Registry, 16 CFR Part 310: Telemarketing Sales Rule: Federal Register Notice Containing Notice of Proposed Rulemaking and Soliciting Public Comment on Proposed Amendments to the Rule, 16 CFR Part 310: Telemarketing Sales Rule: Federal Register Notice Containing Notice of Proposed Rulemaking and Soliciting Public Comment on Proposed Amendments to the Rule - Text Version, 16 CFR Part 310: Telemarketing Sales Rule Fees; Final Rule, 16 C.F.R. Liquidation analysis, reproduction cost analysis, and income capitalization analysis (and comparable sales analysis). Federal government websites often end in .gov or .mil. 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. 485 x 76 = 36,860 Please note that the following information is for educational purposes only, and additional laws may apply. If you advertise online, remember the rules and guidelines that protect consumers also help businesses by maintaining the credibility of the Internet as a marketing medium. AND, IT WILL PROTECT THE NEW OWNER (IF TRANSFERRED) UP TO THE UNPAID BALANCE OF THE MORTGAGE LOAN. Tenancy in Common (no right of survivor ship, heirs inherit), 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. We work to advance government policies that protect consumers and promote competition. A person who rents lots in a mobile home park. 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. A developer purchased two 145-front foot lots for $23,900 net each and divided them into three lots of equal front footage. A buyer and seller enter into a contract for sale and purchase of a home. 14 Real estate related computations and c, 63 hour Real Estate practice Exam (first 50), Course Exam Review for Tampa School of Real E, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese, Alexander Holmes, Barbara Illowsky, Susan Dean, Calculus for Business, Economics, Life Sciences and Social Sciences, Karl E. Byleen, Michael R. Ziegler, Michae Ziegler, Raymond A. Barnett, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield. D) Limited partners may participate in management activities of the limited partnership. The sales associate must notify the DBPR in writing within 60 days regarding her change in residency. How much of the $414.94 monthly payment paid in month two will apply to principal? A closing is set for July 15. Runners crossing the finish line in the Boston Marathon. 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. 414.94 - 319.21 = 95.94 principal amount for month 2. A) Federally related transactions require an appraisal. B. Yes, because this is an example of bait-and-switch advertising, and it is illegal. Complaint resolution for homeowner associations is provided by which division of Florida government? The stepson's interest is that of. which statement is true regarding the federal telemarketing law Limited partners must register with the FREC under the limited partnership name. The settlement benefits consumers who received one or more prerecorded voice messages regarding Connected Investors' goods and services between April 28, 2017, and Sept. 26, 2022. D) Buyer finds another property at a lower price and demands a refund of the earnest money deposit. The FALSE statement is the a SECTION contains 43,560 sf. The Florida Building Energy-Efficiency Rating Act does NOT require. writing bad checks, crimes of larceny). A) Claim against the Real Estate Recovery Fund B) Suit for compensatory damages C) Suit for specific performance D) Provision for liquidated damages, Claim against the RE Recovery Fund is for a result of license law violations by a licensee ($50k per transaction and mo more than $150K against on licensee involved in mult transactions, PAGE 129). The city has agreed to pay 25 percent of the paving cost and will assess abutting properties for the remainder. Calculate the developer's percentage of profit (round to nearest whole percentage point). "Work surface" Relying on an embodiment disclosed in the specification, the defendant contended that the scope of "work surface . content.edgar-online.com 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 right of the state to take property of a person who died intestate and without heirs is known as. salvarani.com Informacin detallada del sitio web y la empresa The associate must, An owner of an apartment complex pays $100 to each tenant who refers a person who becomes a tenant. Risk. 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. Claim against the RE Recovery Fund is for a result of license law violations by a licensee ($50k per transaction and mo more than $150K against on licensee involved in mult transactions) the others are remedies for a breach in contract. (page 169), The answer is ACCRETION. 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 statement is TRUE regarding this situation? Monthly payments remain constant, and the interest portion comprises the majority of the payments. 52,000 - 95.36 = 51,904.64 The stepson's interest is that of, The process of land buildup from water-borne rock and soil is referred to as. Maccas case study - Good - OPERATIONS role of operations management The constitutional homestead law protects real property from forced sale to satisfy which type of delinquent debt? Which characteristic is a disadvantage of investing in real estate? A written contract for sale and purchase of commercial property that used designated sales associates failed to close. Residential leases are usually gross leases. 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 in writing and signed to be enforceable. I understand these calls may be generated using an autodialer and may contain pre-recorded messages and that consenting is not required to Which type of listing allows the seller to list the property with other brokers? 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? which statement is true regarding the federal telemarketing law? Branch office of a bank is a service industry that services primarily local residents. C) Federally related transactions involve a federally insured financial institution. The contract is contingent on a radon test. A) Monthly payments remain constant, and the interest portion comprises the majority of the payments. The company's phone number is 222-1010. ), $475,000*.8 = $380,000 / 39 years = $9,744. The seller countered at $250,000. The calculated interest rate of an adjustable-rate mortgage is determined by adding which two components? Lynn Amherst is a sales associate for Excel Realty. Laws Protecting Consumers - Ohio Attorney General Dave Yost The RE licensee is not eligible to make a claim against the Real Estate Recovery Fund. Which type of depreciation is associated with inefficient architectural design? A broker is NOT required by law to notify the FREC of conflicting demands in which situation? 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 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. Which statement is TRUE regarding this practice? Open listing allows the seller to list the property with multiple brokers. Online Advertising and Marketing. C. The applicant must apply for a broker license under mutual recognition. $52,000 x .07375 = 3,835 / 12 = 319.58 The total square footage of the livable area is 2,600. The brokerage can work with the buyer, in the same transaction, A sales associate receives a deposit from a buyer on Wednesday morning. The Telephone Consumer Protection Act (TCPA) was passed in 1991 in response to consumer complaints of increased marketing calls and automated, pre-recorded messages. Which list of appraisal methods is unique to the appraisal of business enterprises? EGI - OPEX = NOI The seller told her broker that she was revoking the counteroffer and accepting the buyer's original offer. Included advantages: The law is enforced by the Office of the Attorney General. 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. Solved I need help with any or all of these questions. Thank | Chegg.com Mortgage interest which statement is true regarding the federal telemarketing law? Informacin detallada del sitio web y la empresa: salvarani.com, +39522969177 SALVARANI | Agricultural spraying, components 12-24 Volt, compressors, test and calibration equipment, Componenti agricultura, compressori, calibratura e regolazione macchine irroratrici Central Asia. 145 x 2 = 290 Calculate the reproduction cost new of the structure. Annual Gross: 450,000 - 350,000 = 100,000 x .03 = $3,000 The broker must retain the disclosure documents for five years even if a nonresidential transaction that used designated sales associates fails to close. The landlord pays the property taxes, hazard insurance, and maintenance expenses. General warranty deed includes quiet enjoyment (peaceful possession undisturbed by claims of title), warranty forever (forever warrant and defend grantee's title), and further assurance (will help make title good in the future too). 30 Days - if landlord is making a claim on the deposit, the landlord has 30 days to notify the tenant of the claim. (no more than $50 to an unlicensed person who is a tenant of the apartment complex for the referral fee - page 95). required by Florida law to verify that license applicants are current on child support payments. Persons or entities making calls for telemarketing purposes must have a written policy, available upon demand, for maintaining a do-not-call list. The seller countered at $250,000. How much is the minimum cash investment on an FHA loan? The Telemarketing Sales Rule, which requires telemarketers to make specific disclosures of material information; prohibits misrepresentations; sets limits on the times telemarketers may call consumers; prohibits calls to a consumer who has asked not to be called again; and sets payment restrictions for the sale of certain goods and services. C) The seller has breached the buyer's contract, and the buyer can sue to force the seller to take a lower price. Telemarketing also includes sales solicitations via fax, the Internet and mail, if the consumer is encouraged to respond via the telephone, fax . Securities registered pursuant to Section 12(g) of the Act: None. Restrictions on telemarketing to Florida residents are about to get tighter. What was the approximate yield on the loan? A building is valued at $135,000 with an estimated 25-year useful economic life. Illiquidity; 2. A broker is NOT required by law to notify the FREC of conflicting demands in which situation? 290 x 250 = 72,500 - 47,800 = 24,700 The telemarketing class action lawsuit accuses Connected Investors of violating the TCPA with unsolicited prerecorded voice message advertisements. On July 1, 2021, Florida enacted a comprehensive new telemarketing law that arguably goes beyond the federal Telephone Consumer Protection Act ("TCPA"). Mass, direct, telemarketing, e-marketing, social media, billboards Personal selling: sales representatives directed to a customer in attempt to make a sale Can be modified, individualised, after-sales customer service Relationship marketing: development of long-term and cost-effective relationships with customers A person who rents lots in a mobile home park. In 1992, the Commission adopted rules to implement the TCPA. The Florida Consumer Protection Law is located at Fla. Stat. Which statement applies to this situation? Which statement is TRUE regarding this situation? Which statement is TRUE regarding this situation? 32, No.9 -FREEREE Advocate News Online: www.advocatenews.net OCATOCAT www.advocatenews.net Mayor announces he's leaving at end of year City councillors offer praise of Arrigo's tenure By Barbara Taormina M ayor Brian Arrigo jolted the city this week when he announced he will be stepping down from the Mayor's Office at the end of this term. If you prefer to file your comment on paper, mail your comment to the following address: Federal Trade Commission, Office of the Secretary, 600 Pennsylvania Avenue NW, Suite CC-5610 (Annex B), Washington, DC 20580. A Georgia real estate licensee moved to Miami five months ago. Which item would be classified as a fixed expense in the calculation of net operating income? AN ACT RELATIVE TO RESTRUCTURING THE ELECTRIC UTILITY INDUSTRY IN THE COMMONWEALTH, REGULATING THE PROVISION OF ELECTRICITY AND OTHER SERVICES, AND PROMOTING ENHANCED CONSUMER PROTECTIONS. A real estate licensee purchased a home from the seller. 156) Which statement is TRUE regarding comparative market analyses (CMAs)? Which request should be made by the broker's attorney so that the broker can continue to work during the appeal process? Within how many days must a landlord notify a tenant of intentions to claim part of the security deposit? End of Pre-License Course Exam Questions - RealEstateExamAnswers.com Reply 'Help' for help. 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. C) Limited partners are personally liable for the debts of the partnership. Wattage is the measurement of the amount of energy consumed. What is the total property tax exemption on her homesteaded property? A duplex is scheduled to close on September 10. SUBCHAPTER IICOMMON CARRIERS Part ICommon Carrier Regulation 201. The "21 Rules You Must Use" are the most important things you need to do now and on an ongoing basis to prevent identity theft. Calculate the reproduction cost new of the structure. Tenancy at Sufferance - without the consent of the landlord. Why do many second-generation Korean-American mothers, who often have negative memories of growing up under strict, intensive, achievement-oriented "tiger mothering"a term popularized by Amy Chua's bestselling Battle Hymn of the Tiger Mother (Chua 2011)reproduce certain aspects of this parenting style in raising their own children? Recording it in the public records shows that the mortgage lien has been removed. A) Seller and buyer both claim the earnest money deposit. The loan officer has three business days to give the loan applicant a copy of the information booklet. B) It is in the licensee's best interest not to request reimbursement from the fund, because the licensee's license would be suspended. However, there is a law found in Section 365.1657, Florida Statutes, that prohibits sending an unsolicited advertisement by fax machine within the state. The licensee was unable to collect on the judgment and is considering submitting a claim to the Real Estate Recovery Fund. Under the statute of frauds, which element is required for contracts pertaining to the purchase and sale of real property (except for certain specific exceptions)? . The assessed value of an 88-year-old legally blind widow's condominium is $49,500. The TCPA restricts the making of telemarketing calls and the use of automatic telephone dialing systems and artificial or prerecorded voice messages. The covenant of warranty forever is included in which type of statutory deed? Calculate the developer's percentage of profit (round to nearest whole percentage point). The total square footage of the livable area is 2,600. It's one mile square of 640 acres. An individual who repeatedly writes bad checks can be charged with, Moral Turpitude involves conduct contrary to honest, good morals, accepted custom (i.e. Florida Expands Telemarketing Laws - The National Law Review TILA/Reg Z makes "Bait and Switch" advertising a federal offense. The Georgia licensee. 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? A comparable property recently sold for $315,000. Calculate the proration and indicate who is debited and who is credited. Which expense is deducted to derive effective gross income? Service and charges (a) It shall be the duty of every common carrier engaged in interstate or foreign com A buyer offered $225,000 for a seller's property. ($500 fine if not notified correctly). Tenancy in Common (no right of survivor ship, heirs inherit), Remainderman - 3rd party fee simple ownership at end of life estate by wife. A real estate licensee purchased a home from the seller. The brokerage relationship disclosure requirements in Chapter 475, Florida Statutes, do NOT apply to which transaction? C) Real estate licensees may contact their former customers for up to 18 months following the closing of a transaction, even if the customer's name is on the national registry. The statement is TRUE. 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. illegal, because the amount of compensation exceeds the allowable amount. Limited partners must register with the FREC under the limited partnership name. According to the contract for sale and purchase, the buyer is due the rental income for the day of closing. NOI = Cap Rate x Value (sale price) PDF United States District Court District of Massachusetts A duplex is scheduled to close on September 10. In the Government Survey System, the six-mile vertical strip of land that extends from the north to the south of Florida, located immediately west of the Tallahassee Principal Meridian, is called. Five-Star Reviews Enforcement Regulations from the FTC