On the first of the month, the seller collected total rent for September amounting to $950. Which of the following statements about consumer protection laws is true? C) The seller has breached the buyer's contract, and the buyer can sue to force the seller to take a lower price. The Florida Building Energy-Efficiency Rating Act does NOT require. However, there is a law found in Section 365.1657, Florida Statutes, that prohibits sending an unsolicited advertisement by fax machine within the state. A) Demand is the desire and ability to purchase or lease goods and services B) Consumer preferences influence demand C) Changes in price cause an inverse change in demand D) The availability of building materials influences demand, The AVAILABILITY OF BUILDING MATERIALS INFLUENCES DEMAND is FALSE - has to do with supply (page 415), Implement the comprehensive plan (page 427), Branch office of a bank is a service industry that services primarily local residents (page 425), Effective Age / Total Economic Life x Reproduction Cost New, 45 x 90 x .75 = $3,037.50 / 2 = $1,518.75, A professional office center is purchased for $475,000. The land value is 20 percent of the total acquisition cost. A) The federal telemarketing law exempts telephone surveyors. Federal and State Laws, Regulations, and Related Court Decisions Executive Orders and Other Presidential Actions The president creates many documents to issue orders and make announcements. which statement is true regarding the federal telemarketing law? Seller refuses to sign the release of escrow funds. Bush in 1991 and has remained the bedrock of federal telemarketing regulations ever since. Comp What is the state's intangible tax on a new mortgage of $10,000? Which statement concerning Department of Veterans Affairs (VA) mortgage loans is FALSE? C) All VA mortgage loans contain a due on sale clause. 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). D) Limited partners may participate in management activities of the limited partnership. A) Federally related transactions require an appraisal. A real estate licensee purchased a home from the seller. Looking for legal documents or records? 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. The sales associate must notify the DBPR in writing within 60 days regarding her change in residency. Lynn's home phone number is 333-2020. What is the annual rent for the year if the annual gross sales are $450,000? The seller countered at $250,000. The broker decides to appeal FREC's final order. 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 property? CBS vs. CIA The licensee sued the seller's broker and was awarded a judgment. It does not require the seller, at the seller's expense to conduct and energy efficiency rating of the structure prior to closing. Funeral homes may not require customers to buy certain funeral goods and services as a condition for receiving other funeral goods and services. B) It is in the licensee's best interest not to request reimbursement from the fund, because the licensee's license would be suspended. 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. 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. The day after signing the sale contract and reviewing the condominium documents, the buyers notify the broker that they want to cancel the contract. 1.555.555.555 | influencer scandal 2022. The company's phone number is 222-1010. PSA SUBCHAPTER IICOMMON CARRIERS Part ICommon Carrier Regulation 201. According to the contract for sale and purchase, the buyer is due the rental income for the day of closing. A building is valued at $135,000 with an estimated 25-year useful economic life. How much is the minimum cash investment on an FHA loan? 1. C) Sellers decide they do not want to sell the property and refuse to allow the broker to release buyer's earnest money deposit. (page 398), 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 (page 395). 501.059. How much of the $414.94 monthly payment paid in month two will apply to principal? Telemarketing also includes sales solicitations via fax, the Internet and mail, if the consumer is encouraged to respond via the telephone, fax . A buyer has applied for a 20-year mortgage of $52,000 at 7 3/8 percent interest. Which lien is classified as a voluntary lien? The total square footage of the livable area is 2,600. The proposed guideline revisions would state that "in procuring, suppressing, boosting, organizing, or editing consumer reviews of their products, advertisers should not take actions that have the. Total $26,000, Tax advantages of owning a home do NOT include, Deductions of hazard insurance expense on a principal residence. Which excerpt conforms to the rule regarding advertising? What is the state's intangible tax on a new mortgage of $10,000? Online Advertising and Marketing. Which characteristic is a disadvantage of investing in real estate? Property taxes are paid in arrears - so seller has paid no taxes that month. The seller cannot now accept the original offer, because it was killed by the counteroffer. (page 267). Restrictions on telemarketing to Florida residents are about to get tighter. merrick okamoto net worth Widow: $500 illegal, because the amount of compensation exceeds the allowable amount. Only 2 members must be consumer members who have never been brokers or sales associates. You are appraising a four-year-old, single-family residence. The Florida Real Estate Commission (FREC) issued a seven-year suspension of a broker's license. We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. Facebook Instagram. 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. Management; 5. The garage is 485 square feet. Real estate licensees may contact their former customers for up to 18 months. 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. The seller cannot now accept the original offer, because it was killed by the counteroffer. I = R x V 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. Which statement is TRUE regarding this situation? 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. 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. The loan officer has three business days to give the loan applicant a copy of the information booklet. Featuring infinite contrast ratio and VESA Display HDR True Back 400 for remarkably vivid colors and visuals bursting to life. Effective Age / Total Economic Life x Reproduction Cost New 45 x 90 x .75 = $3,037.50 / 2 = $1,518.75, A professional office center is purchased for $475,000. 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. A commercial tenant pays a fixed rent each month. 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 associate must. 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 broker must retain the disclosure documents for five years even if a nonresidential transaction that used designated sales associates fails to close. The brokerage can work with the buyer, in the same transaction. Which statement is TRUE regarding the federal telemarketing law? EGI - OPEX = NOI A) Monthly payments remain constant, and the interest portion comprises the majority of the payments. C) Federally related transactions involve a federally insured financial institution. Which expense is deducted to derive effective gross income? 0. Which statement is FALSE? D) buyers of all single-family homes. Which document must a prospective buyer of an existing (resale) condominium unit receive? C) Principal comprises the majority of the payments. Ginnie Mae (GNMA) serves as a guarantor of mortgage-backed securities. is exempt from the sales associate course; however, she must pass a written Florida-specific real estate law exam. Which request should be made by the broker's attorney so that the broker can continue to work during the appeal process? 8 a.m. (no more than $50 to an unlicensed person who is a tenant of the apartment complex for the referral fee. 3. 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. Federally-related transaction includes: The overall capitalization rate (OAR) is determined by analyzing which two components of similar properties in the subject property's market area? In 1992, the Commission adopted rules to implement the TCPA. . The Federal Communications Commission (FCC) enforces the Telephone Consumer Protection Act (TCPA), which also regulates telemarketing. A) This is a violation of the Civil RIghts Act of 1866 B) This is a violation of the Title VIII of the Civil Rights Act of 1968 C) This is permissible under the FAir Housing Act D) This is permissible only if the church is registered as having exempt status with the DBPR C) (pg. 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), The lender's policy protects the lender against title defects. 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. ($500 fine if not notified correctly). B) Federally related transactions do not include transactions associated with refinancing real property. Which expense is deducted to derive effective gross income? Ann. 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. How will the property taxes be entered on the closing statement? 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. These presidential actions can include executive orders, presidential memoranda, and proclamations. 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. Lynn Amherst is a sales associate for Excel Realty. Which statement concerning sections is FALSE? What was the approximate yield on the loan? XML overcomes the limitations of hypertext markup language (HTML) and represents an important opportunity to solve the problem of protecting information distributed on the Web, with the definition of access restrictions directly on the structure and content of the document. Which of the following is an accurate statement regarding the Federal Trade Commission (FTC) and the consumer protection laws related to funeral home services? Distinguish between FASB Accounting Standards Updates and FASB Statements of Financial Accounting Concepts. Place the funds in an interest-bearing account in a Florida bank and pay the tenant 5 percent interest (separate interest-bearing FL bank account and pay the tenant at least 75% of any annualized average interest rate or 5% per year simple interest. Which brokerage relationship is BEST suited to this couple? 3.5% is the minimum down payment on a FHA loan. deliver the deposit check to the employer by the end of business on Thursday. I = RV They have created which type of estate or tenancy? Good Faith Estimate (GFE) 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 item would be classified as a fixed expense in the calculation of net operating income? Main Menu Section 31 would be located in which corner? Securities registered pursuant to Section 12(g) of the Act: None. Which statement applies to this situation? The Georgia licensee. Which item would be classified as a fixed expense in the calculation of net operating income? Tenancy in Common (no right of survivor ship, heirs inherit), Remainderman - 3rd party fee simple ownership at end of life estate by wife. A licensee who is issued a citation may be ordered to, If a licensee/respondent disputes any of the allegations outlined in the administrative complaint, the case must be heard in, When a consumer files a complaint against a real estate licensee that contains facts indicating that a violation of rules of the Florida Real Estate Commission has occurred, the complaint is said to be. (page 362), Jalousie - window is almost impossible to seal; therefore, it's the lease energy efficient. 34,840 / .12 = $290,250 max purchase price. Deductions of hazard insurance expense on a principal residence. Similarly, a brokerage firm working in a no brokerage relationship capacity can work with a buyer. The day after signing the sale contract and reviewing the condominium documents, the buyers notify the broker that they want to cancel the contract. B) Interest payments remain constant while principal payments increase. The city has agreed to pay 25 percent of the paving cost and will assess abutting properties for the remainder. EXCULPATORY CLAUSE is a provision in a mortgage or note in which the lender waives the right to a deficiency judgement against the borrower and the borrower is relived of personal liability to repay the loan. According to the contract for sale and purchase, the buyer is due the rental income for the day of closing. A couple are interested in purchasing residential investment property, and they have informed their sales associate that they want limited representation but do not want to be legally held responsible for the acts of a licensee. 950 / 30 = 31.67 x 20 = $633.33 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. The RE licensee is not eligible to make a claim against the Real Estate Recovery Fund. The company's phone number is 222-1010. Hazard Insurance is included as part of a fixed expense (also ppty taxes), Functional Obsolescence - operational inadequacies, poor design, or changing tastes and preferences (page 342), T-Intersection (open view down the street, lights shining into window and possible danger from speeding runaway cars - page 358), Wattage is the measurement of the amount of energy consumed. The law is enforced by the Office of the Attorney General. Call Lynn Amherst, Excel Realty 333-2020 (cell). Is this transaction covered under Truth in Lending Act? Which statement is FALSE concerning federally related transactions? D) The VA can make direct loans to veterans. Search the Legal Library instead. Which individual is exempt from licensure under Florida Statute 475? Which statement is TRUE regarding Florida's telemarketing law? . The brokerage relationship disclosure requirements in Chapter 475, Florida Statutes, do NOT apply to which transaction? Total is 60 Acres. The calculated interest rate of an adjustable-rate mortgage is determined by adding which two components? Which statement is TRUE regarding this situation? The brothers want their interest in the property to go to their spouses in the event of their deaths. The loan officer did not give the loan applicant a copy of the HUD information booklet concerning settlement costs at the time of loan application. applicable regarding financial, home, travel, health, and insurance products and services. The purpose of the Do Not Call registry is to give consumers a choice regarding telemarketing calls. The telemarketing class action lawsuit accuses Connected Investors of violating the TCPA with unsolicited prerecorded voice message advertisements. Lynn Amherst is a sales associate for Excel Realty. Monthly payments remain constant, and the interest portion comprises the majority of the payments. Lease Agreements longer than 1 year Need for expert help; 4. 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. Florida's telemarketing law became invalid when federal telemarketing laws were implemented. The AVAILABILITY OF BUILDING MATERIALS INFLUENCES DEMAND is FALSE - has to do with supply. Bars telemarketers from intentionally blocking caller identification; Requires telemarketers at the beginning of every sales call to disclose the name of person making the call, as well as the name of the telemarketing company, the name of person or . Call Us Today! 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 comparable property recently sold for $315,000. c. There are no federal laws that regulate This problem has been solved! Which statement is FALSE concerning federally related transactions? required by Florida law to verify that license applicants are current on child support payments. The mortgagee's title insurance policy is ISSUED FOR THE AMOUNT OF THE MORTGAGE LOAN AND IS TRANSFERABLE. 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. Call Lynn Amherst, Excel Realty 333-2020 (cell). Which solution is NOT a remedy for the breach of a real estate sale contract? (Round answer to nearest dollar. a. Within ten business days after the deposit is due under the sale contract, the broker . An official website of the United States government. Which lien is classified as a voluntary lien? A local lender charged 4 percent interest plus 4 points on a conventional mortgage loan. Exclusion from gain on sale of principal residence up to $250K for single person, $500K for married couple filing jointly. what is edgar xbrl validation errors and warnings. 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 seller refuses to sign a release of the buyer's earnest money deposit and demands receipt of the deposit for himself. Limited partners must register with the FREC under the limited partnership name. Wattage is the measurement of the amount of energy consumed. Recording it in the public records shows that the mortgage lien has been removed. Which brokerage relationship is BEST suited to this couple? The broker must retain the disclosure documents for five years even if a nonresidential transaction that used designated sales associates fails to close. C) The loan officer can be fined by the Department of Housing and Urban Development (HUD).
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