Which statement is true regarding the use of the term REALTOR?
A. All real estate licensees are realtors
B. All realtors are members of the NAR
C. The term real estate licensee and realtor may be used interchangeably
...
Which statement is true regarding the use of the term REALTOR?
A. All real estate licensees are realtors
B. All realtors are members of the NAR
C. The term real estate licensee and realtor may be used interchangeably
D. The Florida DBPR authorizes the use of the term realtor - ✔✔b.
The term "follow-up" refers to
a. returning calls in a timely manner.
b. completing instructions given by one's broker.
c. following through on listing calls made to for sale by owners.
d. what a sales associate does for buyers and sellers after the sale. - ✔✔d.
Even though certain exceptions apply, an active real estate licensee is legally entitled to appraise real
property for compensation concerning a non-federally related transaction
a. as long as she does not represent herself as a state-certified or licensed appraiser and complies with
the USPAP
b. only if the appraisal is called a comparative market analysis
c. provided the compensation is based on a commission agreed on before the appraisal work is done
d. provided a license or certified appraiser signs the appraisal report. - ✔✔a.
The field of property management has experienced growth and specialization primarily because of
a. the deregulation of the real estate industryb. the increase in the number of licensees specializing in property management
c. the increase in the number of absentee owners
d. higher construction costs that have caused an increase in the number of renters. - ✔✔c.
Real estate licensees must comply with the USPAP when conducting which value estimates?
a. appraisals
b. broker price opinions
c. comparative market analysis
d. real estate licensees are exempt from the provisions of USPAP - ✔✔a
Appraisers are paid a fee because
a. to accept compensation based on the appraised value is a conflict of interest
b. custom dictates the method of compensation
c. the fee would be too high if it were based on a percentage of property value
d. only brokers and sales associates are paid commissions for their services - ✔✔a
The five major sales specialties do NOT include
a. agricultural
b. special use
c. commercial
d. business - ✔✔b. special use
The real estate activity that is devoted to leasing, managing, marketing, and overall maintenance of
property for others is called
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