Which of the following statements about consumer protection laws is true? Telemarketing also includes sales solicitations via fax, the Internet and mail, if the consumer is encouraged to respond via the telephone, fax . Which statement is TRUE regarding comparative market analyses (CMAs)? 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. B) It is in the licensee's best interest not to request reimbursement from the fund, because the licensee's license would be suspended. The answer is ACCRETION. Governance Form summarizes board of directors and the rights of the unit. You are appraising a four-year-old, single-family residence. How will the property taxes be entered on the closing statement? A brokerage firm represents a seller as a single agent. deliver the deposit check to the employer by the end of business on Thursday. 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 Homestead property is exempted from forced sale to satisfy judgement liens for debts owing to personal loans, CREDIT CARD DEBT, etc. (page 91). Personnel engaged in any aspect of telemarketing must be . united states district court middle district of florida orlando division filed 1-: }lf 111 ai-l in: 56 { tv case no lcoc{-c!- l l-t f securities and exchange 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 law prohibits racial discrimination in the sale or lease of all real property without exception? 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. Which statement is FALSE regarding earning continuing education (CE) credit by attending a legal agenda session of the monthly Florida Real Estate Commission (FREC) meeting? The licensee was unable to collect on the judgment and is considering submitting a claim to the Real Estate Recovery Fund. is exempt from the sales associate course; however, she must pass a written Florida-specific real estate law exam. Which list of appraisal methods is unique to the appraisal of business enterprises? Therefore. 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. Learn more about your rights as a consumer and how to spot and avoid scams. The contract is contingent on a radon test. A written contract for sale and purchase of commercial property that used designated sales associates failed to close. 30 Days - if landlord is making a claim on the deposit, the landlord has 30 days to notify the tenant of the claim. InVirtek Vision International ULC v.Assembly Guidance Systems, Inc. d/b/a Aligned Vision, No. Using the lump-sum age-life method, find the depreciated value of the building. The Telephone Consumer Protection Act of 1991 (TCPA) was passed by the United States Congress in 1991 and signed into law by President George H. W. Bush as Public Law 102-243. D) Federally related transactions include transactions for the sale, lease, or purchase of real estate. Federally-related transaction includes: 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. Only 2 members must be consumer members who have never been brokers or sales associates. 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 statement is TRUE? The brokerage can work with the buyer, in the same transaction. Transaction Broker - in a transaction broker relationship the buyer or seller is not responsible for the acts of a licensee. This arrangement is, illegal, because the amount of compensation exceeds the allowable amount. Which statement is TRUE regarding this situation? Civil Rights Act of 1866 prohibits any type of discrimination based on race in any real estate transaction (sale or rental) without exception. It was first signed into law by President George H.W. The licensee was unable to collect on the judgment and is considering submitting a claim to the Real Estate Recovery Fund. Which statement concerning Department of Veterans Affairs (VA) mortgage loans is FALSE? Which expense is deducted to derive effective gross income? Total $26,000, Tax advantages of owning a home do NOT include, Deductions of hazard insurance expense on a principal residence. Implement the comprehensive plan -local gov't exercise police power by regulating and controlling the use of land and structures within designated land-use district or zoned. Use the actual number of days in the closing month when determining the time line. Which solution is NOT a remedy for the breach of a real estate sale contract? The statement is TRUE. Under the federal telemarketing law, a real estate licensee may A. call Sue for up to 3 months after she makes and inquiry about a house listed for sale. Yes, because this is an example of bait-and-switch advertising, and it is illegal. Which statement MOST accurately describes the first year of a 30-year level-payment, fixed rate mortgage? 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. 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 company's phone number is 222-1010. writing bad checks, crimes of larceny). Use the actual number of days in the closing month when determining the time line. The Federal Communications Commission (FCC) enforces the Telephone Consumer Protection Act (TCPA), which also regulates telemarketing. Listed here are some FTC laws about specific marketing practices and the promotion of products and services in specific industries. The brokerage relationship disclosure requirements in Chapter 475, Florida Statutes, do NOT apply to which transaction? Which lien is classified as a voluntary lien? The seller refuses to sign a release of the buyer's earnest money deposit and demands receipt of the deposit for himself. Management considerations is one of the disadvantages of investing in RE. 633.33 debited to seller and credited to buyer. Spot the latest COVID scams, get compliance guidance, and stay up to date on FTC actions during the pandemic. RE R V RE EVERE E R Vol. 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 - page 153). The extensible markup language (XML) is a markup language promoted by the World Wide Web consortium (W3C). Call Lynn Amherst, Excel Realty 333-2020 (cell). Informacin detallada del sitio web y la empresa: hotelroyalvasto.com, +39873801950 Hotel Royal Vasto Marina - Hotel 3 stelle sul mare a Vasto Marina in Abruzzo She requests a Florida sales associate license based on mutual recognition. Section 31 would be located in which corner? C) Principal comprises the majority of the payments. When a loan is paid off in a lien theory state, which instrument should the lender prepare and give to the borrower? They have created which type of estate or tenancy? 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 applies to this situation? Division of Florida Condominiums, Timeshares, and Mobile Homes is charged with providing complaint resolution for HOAs. A brokerage firm represents a seller as a single agent. EGI - OPEX = NOI 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. Which statement is TRUE regarding the key rings? The Florida Building Energy-Efficiency Rating Act does NOT require. The FTC does not prohibit bait-and-switch advertising. The National Do Not Call Registry is a database maintained by the United States federal government, listing the telephone numbers of individuals and families who have requested that telemarketers not contact them. The FALSE statement is the a SECTION contains 43,560 sf. I understand these calls may be generated using an autodialer and may contain pre-recorded messages and that consenting is not required to The tenant has what type of lease? Part 310: Telemarketing Sales Rule: Advanced Notice of Proposed Rulemaking; Request for Public Comments Concerning Caller Identification Services and Disclosure of the Identity of the Seller or Telemarketer Responsible for Telemarketing Calls, Telemarketing Sales Rule; Final Rule; Correction, Telemarketing Sales Rule; Final Rule Amendments, Telemarketing Sales Rule; Extension of Comment Period in Notice of Proposed Rulemaking - 16 CFR Part 310, Telemarketing Sales Rule - 16 CFR Part 310, Telemarketing Sales Rule Fees - 16 CFR Part 310, Telemarketing Sales Rules; Notice of 15 day Extension in Comment Period - 16 CFR Part 310, Notice of 30-Day Extension in Comment Period in the Review of the Telemarketing Sales Rule - 16 CFR Part 310, Telemarketing Sale Rule - 16 CFR Part 310, Notice of Intent to Request Public Comments on Guides for the Household Furniture Industry and the Telemarketing Sales Rule - 16 CFR Parts 250 and 310, Do-Not-Call Provisions of Telemarketing Sales Rule; Meeting - 16 CFR Part 310, Telemarketing Sales Rule "Divestiture Orders in Merger Cases" Agency Information Collection Activities; Proposed Collection; Comment Request; Extension - 16 CFR 310, Telemarketer Fees to Access the FTCs National Do Not Call Registry to Increase in FY 2019, Telemarketer Fees to Access the FTCs Do Not Call Registry to Rise Slightly in FY 2018, FTC Update: Telemarketer Fees for the Do Not Call Registry to Rise Slightly in FY 2017, FTC Amends Telemarketing Rule to Ban Payment Methods Used by Scammers, La FTC enmienda la Regla de Telemercadeo para prohibir mtodos de pago utilizados por los estafadores, Public Forum on Debt Relief Amendments to the Telemarketing Sales Rule, Public Forum on the Telemarketing Sales Rule: "Do-Not-Call", Workshop On Proposed Telemarketing Sales Rule. A person applies for a mortgage loan from a local credit union. The licensee sued the seller's broker and was awarded a judgment. Call Us Today! Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securitie ($500 fine if not notified correctly). Compared with the subject property, the comparable is built of superior materials ($20,000) and the comparable has more square footage ($25,000). Search the Legal Library instead. Which document must a prospective buyer of an existing (resale) condominium unit receive? allows a sales associate or broker associate employed by an owner-developer to sell property for all the affiliated entities owned by the developer. 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. The earnest money deposit normally appears on the closing statement as a. Accretion is the process of land buildup from water-borne rock, sand, and soil. 1.555.555.555 | influencer scandal 2022. Before sharing sensitive information, make sure youre on a federal government site. Which entity is a guarantor of mortgage-back securities? 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. Calculate the developer's percentage of profit (round to nearest whole percentage point). (1) by the person or entity providing a wire or electronic communications service; (2) by a user of that service with respect to a communication of or intended for that user; or (3) in section 2703, 2704 or 2518 of this title. C) Federally related transactions involve a federally insured financial institution. C. The applicant must apply for a broker license under mutual recognition. Monthly payments remain constant, and the interest portion comprises the majority of the payments. Which business would be classified as a service industry? 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. Which statement regarding a limited real estate partnership is TRUE? Citations involve fines that currently range from $100 to $500 per offense and may include other assessments (ex: REQUIRE EDUCATIONAL COURSE ATTENDANCE), If the licensee-respondent disputes the alleged facts noted in the complaint, the licensee-respondent's case must be heard by an administrative judge in a FORMAL HEARING (PAGE 118). The garage is 485 square feet. 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. Wattage is the measurement of the amount of energy consumed. A person who rents lots in a mobile home park. The loan officer has three business days to give the loan applicant a copy of the information booklet. 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. The brothers want their interest in the property to go to their spouses in the event of their deaths. I = RV Our mission is protecting consumers and competition by preventing anticompetitive, deceptive, and unfair business practices through law enforcement, advocacy, and education without unduly burdening legitimate business activity. A lease calls for annual minimum rent of $14,500 plus 3 percent of annual gross sales in excess of $350,000. Included advantages: The sales associate must notify the DBPR in writing within 60 days regarding her change in residency. 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? A local lender charged 4 percent interest plus 4 points on a conventional mortgage loan. An owner of an apartment complex pays $100 to each tenant who refers a person who becomes a tenant. A buyer has applied for a 20-year mortgage of $52,000 at 7 3/8 percent interest. Please note that the following information is for educational purposes only, and additional laws may apply. The buyer did not accept the seller's counteroffer. (PAGE 190), Which statement concerning sections is FALSE? The sales associate must notify the DBPR in writing within 60 days regarding her change in residency. In 1992, the Commission adopted rules to implement the TCPA. 24,700 / 47,800 = 52% profit. Savings associations can sell existing mortgage loans to which entity? (no more than $50 to an unlicensed person who is a tenant of the apartment complex for the referral fee. Which statement is TRUE regarding the federal telemarketing law? Which statement is TRUE regarding this situation? Which statement MOST accurately describes the first year of a 30-year level-payment, fixed rate mortgage? Within ten business days after the deposit is due under the sale contract, the broker . Recording it in the public records shows that the mortgage lien has been removed. Is the broker required to retain the brokerage relationship disclosure documents, and if so, for how long? What is the adjusted sale price of the comparable? Which requirement is one of the elements of a valid real estate contract? Main Menu Lynn is preparing a classified ad for a listed property. A broker is NOT required by law to notify the FREC of conflicting demands in which situation? merrick okamoto net worth 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. We work to advance government policies that protect consumers and promote competition. Since seller hasn't received the money, it's not shown on the seller's statement. 640/4/4 = 40 A buyer has applied for a 20-year mortgage of $52,000 at 7 3/8 percent interest. 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. Which statement about the economic concept of demand is FALSE? C) All VA mortgage loans contain a due on sale clause. B) the creation of a uniform, statewide energy-efficiency rating system. Therefore, debited to seller and credited to buyer. The referring tenants do not hold real estate licensees. (page 364), Liquidation analysis, reproduction cost analysis, and income capitalization analysis (and comparable sales analysis), Management considerations is one of the disadvantages of investing in RE. How many members of the Florida Real Estate Commission must be consumer members who have never been real estate brokers or sales associates? Stay of Enforcement, if granted, stops the enforcement of a suspension or revocation in the final order pending the outcome of the appeal process. C) The seller has breached the buyer's contract, and the buyer can sue to force the seller to take a lower price. The procedures instituted must meet the following minimum standards: (1) Written policy. Deeds and Mortgage Instruments D) The seller cannot now accept the original offer, because it was killed by the counteroffer. D) Real estate licensees are exempt from the telemarketing laws. The earnest money deposit normally appears on the closing statement as a. The RE licensee is not eligible to make a claim against the Real Estate Recovery Fund. The mortgagee's title insurance policy is ISSUED FOR THE AMOUNT OF THE MORTGAGE LOAN AND IS TRANSFERABLE. D) penalty-free withdrawal from an IRA if the money is used as a down payment on a personal residence (first time home buyers only). The assessed value of an 88-year-old legally blind widow's condominium is $49,500. Contract to purchase a shopping center (page 58). In one of the more upsetting high-profile lawsuits, Vanessa Bryant has just reached a final . Which statement applies to this situation? The loan officer has three business days to give the loan applicant a copy of the information booklet. The tenant has what type of lease? These opinions are issued, pursuant to Rules 1.1 - 1.4 of the Commission's Rules of Practice, 16 C.F.R. Which statement is TRUE regarding a title company holding the escrow funds? The constitutional homestead law protects real property from forced sale to satisfy which type of delinquent debt? 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? All national chartered commercial banks are members of which entity? Is the broker required to retain the brokerage relationship disclosure documents, and if so, for how long? In practice, the state list is integrated with the national do-not-call list maintained by the Federal Trade Commission (FTC). The land value is 20 percent of the total acquisition cost. a statement by you that you have a good faith belief that the disputed use is not authorized by the copyright owner, its agent, or the law; a statement by you, made under penalty of perjury, that the information provided in your notification is accurate and that you are the copyright owner or authorized to act on the copyright owner's behalf. Functional Obsolescence - operational inadequacies, poor design, or changing tastes and preferences. Calculate the developer's percentage of profit (round to nearest whole percentage point). 145 x 2 = 290 Open All + 45 x 90 x .75 = $3,037.50 / 2 = $1,518.75, A professional office center is purchased for $475,000. D) Buyer finds another property at a lower price and demands a refund of the earnest money deposit. Similarly, a brokerage firm working in a no brokerage relationship capacity can work with a buyer. A qualified buyer offers to pay the $2,000 down, but the developer states that the $2,000 down homes are all sold. A commercial tenant pays a fixed rent each month.