which statement is true regarding the federal telemarketing law? D) The VA can make direct loans to veterans. Less than $50,000 = $25,000 Nothing in the Florida Telemarketing Act or the Telephonic Sales Law prohibits sending advertisements by fax. AND, IT WILL PROTECT THE NEW OWNER (IF TRANSFERRED) UP TO THE UNPAID BALANCE OF THE MORTGAGE LOAN. what is edgar xbrl validation errors and warnings. We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. The broker decides to appeal FREC's final order. 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. A developer purchased two 145-front foot lots for $23,900 net each and divided them into three lots of equal front footage. Contract to purchase a shopping center (page 58). Which expense is deducted to derive effective gross income? How much is the minimum cash investment on an FHA loan? An apartment building produces an effective annual gross income of $71,820. Which document must a prospective buyer of an existing (resale) condominium unit receive? Within ten business days after the deposit is due under the sale contract, the broker . Which excerpt conforms to the rule regarding advertising? 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. Which item would be classified as a fixed expense in the calculation of net operating income? The tenant has a tenancy. astros vs yankees cheating. Call Lynn Amherst, Excel Realty 333-2020 (cell). Calculate the proration and indicate who is debited and who is credited. Service and charges (a) It shall be the duty of every common carrier engaged in interstate or foreign com A building is valued at $135,000 with an estimated 25-year useful economic life. Which statement concerning Department of Veterans Affairs (VA) mortgage loans is FALSE? Criminals use this method as a way to obtain a victim's credit card information, identity, or bank account numbers. Yes, because this is an example of bait-and-switch advertising, and it is illegal. They have created which type of estate or tenancy? Reply 'STOP' to unsubscribe from SMS service. Which characteristic is a disadvantage of investing in real estate? AND, IT WILL PROTECT THE NEW OWNER (IF TRANSFERRED) UP TO THE UNPAID BALANCE OF THE MORTGAGE LOAN. The statement is TRUE. 24,700 / 47,800 = 52% profit. 8 a.m. Which property is immune from property taxes? Which document must a prospective buyer of an existing (resale) condominium unit receive? The RE licensee is not eligible to make a claim against the Real Estate Recovery Fund. The land value is 20 percent of the total acquisition cost. A Georgia real estate licensee moved to Miami five months ago. (no more than $50 to an unlicensed person who is a tenant of the apartment complex for the referral fee - page 95). After the closing, the licensee discovered that the seller's broker had failed to disclose latent defects. How will the property taxes be entered on the closing statement? Management; 5. What is the annual rent for the year if the annual gross sales are $450,000? The associate must. Federally related transactions do not include transactions associated with refinancing real property. The sales associate must notify the DBPR in writing within 60 days regarding her change in residency. Which statement is FALSE concerning federally related transactions? Use the actual number of days in the closing month when determining the time line. Which brokerage relationship is BEST suited to this couple? The garage is 485 square feet. $52,000 x .07375 = 3,835 / 12 = 319.58 Which lien is classified as a voluntary lien? The constitutional homestead law protects real property from forced sale to satisfy which type of delinquent debt? The overall capitalization rate (OAR) is determined by analyzing which two components of similar properties in the subject property's market area? It's one mile square of 640 acres, Range 1 West is located immediately west of the principal meridian and base line. Statutes change, so checking them is always a good idea. A comparable property recently sold for $315,000. What is the total property tax exemption on her homesteaded property? A lease calls for annual minimum rent of $14,500 plus 3 percent of annual gross sales in excess of $350,000. The associate continues to be employed by the same broker, who has an office in Atlanta. According to the contract for sale and purchase, the buyer is due the rental income for the day of closing. 315,000 - 20,000 - 25,000 = 270,000. Effective Age / Total Economic Life x Reproduction Cost New 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 seller is still owed the entire amount of the purchase price. The RE licensee is not eligible to make a claim against the Real Estate Recovery Fund. Total is 60 Acres. Display Type: Quantum Dot OLED Diagonal Size: 34.18" Curved Screen: Yes (1800R) Adaptive-Sync Technology: NVIDIA G-SYNC ULTIMATE Built-in Devices: USB 3.2 Gen 1 hub Aspect Ratio: 21:9 Native Resolution: 3440 x 1440 . How much of the $414.94 monthly payment paid in month two will apply to principal? Section 31 would be located in which corner? FL law does not require that prospective buyers and seller be represented. Open listing allows the seller to list the property with multiple brokers. An individual who repeatedly writes bad checks can be charged with. What is the annual IRS depreciation deduction? 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. writing bad checks, crimes of larceny). Market is local in nature; 3. The referring tenants do not hold real estate licensees. What is the annual rent for the year if the annual gross sales are $450,000? The land value is 20 percent of the total acquisition cost. Which statement regarding a limited real estate partnership is TRUE? Therefore. merrick okamoto net worth 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. 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 right of the state to take property of a person who died intestate and without heirs is known as. c. There are no federal laws that regulate This problem has been solved! 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. Which document must be given to prospective purchasers only if purchasing a condo from a developer of 20 or more new residential condominium units? Deeds and Mortgage Instruments Which request should be made by the broker's attorney so that the broker can continue to work during the appeal process? It was first signed into law by President George H.W. 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 brothers want their interest in the property to go to their spouses in the event of their deaths. A) Federally related transactions require an appraisal. Reproduction cost: Complaint resolution for homeowner associations is provided by which division of Florida government? 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. How will the property taxes be entered on the closing statement? A developer advertises homes for sale with a total down payment of $2,000. Civil Rights Act of 1866 prohibits any type of discrimination based on race in any real estate transaction (sale or rental) without exception. After the closing, the licensee discovered that the seller's broker had failed to disclose latent defects. 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? A lease calls for annual minimum rent of $14,500 plus 3 percent of annual gross sales in excess of $350,000. Which statement is TRUE regarding Florida's telemarketing law? An agreement in which only one party promises to perform without receiving a reciprocal promise to perform from the other party is called a Unilateral contract The period of time during which the terms of a contract may be enforced according to the statute of limitations are Five years for written contracts and four years for parol contacts. The process of land buildup from water-borne rock and soil is referred to as. C. The applicant must apply for a broker license under mutual recognition. Which statement MOST accurately describes the first year of a 30-year level-payment, fixed rate mortgage? Distinguish between FASB Accounting Standards Updates and FASB Statements of Financial Accounting Concepts. . How many members of the Florida Real Estate Commission must be consumer members who have never been real estate brokers or sales associates? 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. A) Monthly payments remain constant, and the interest portion comprises the majority of the payments. Lynn's home phone number is 333-2020. B) exclusion of gain from the sale of a principal residence up to $500,000 if married and filing a joint return. 00018665812022FYFALSEhttp://fasb.org/us-gaap/2022#AccountingStandardsUpdate201602MemberP1YP1YP1YP1YP1Y33.3333.3333.33505010000018665812022-01-012022-12 . Legally Blind: $500 Illiquidity; 2. 6. How much is the minimum cash investment on an FHA loan? Division of Florida Condominiums, Timeshares, and Mobile Homes is charged with providing complaint resolution for HOAs. Which type of depreciation is associated with inefficient architectural design? Recording it in the public records shows that the mortgage lien has been removed. A real estate broker has been hired to manage an apartment complex on behalf of the landlord. The assessed value of an 88-year-old legally blind widow's condominium is $49,500. Prohibits telemarketers from calling Arizona residents between the hours of 9 p.m. and. The purpose of the Do Not Call registry is to give consumers a choice regarding telemarketing calls. Liquidation analysis, reproduction cost analysis, and income capitalization analysis (and comparable sales analysis). Property taxes are paid in arrears - so seller has paid no taxes that month. A duplex is scheduled to close on September 10. It does not require the seller, at the seller's expense to conduct and energy efficiency rating of the structure prior to closing. A local lender charged 4 percent interest plus 4 points on a conventional mortgage loan. What is the state's intangible tax on a new mortgage of $10,000? The sales associate must notify the DBPR in writing within 60 days regarding her change in residency. Referred to as Florida's "Mini-TCPA," this new law, CS/SB 1120, updates the Florida Consumer Protection Law and the Florida Telemarketing Act. Which statement is FALSE concerning federally related transactions? The Telephone Consumer Protection Act (TCPA) was passed in 1991 in response to consumer complaints of increased marketing calls and automated, pre-recorded messages. The buyer did not accept the seller's counteroffer. Which statement is TRUE regarding comparative market analyses (CMAs)? 2,600 x 92 = 239,200 When a loan is paid off in a lien theory state, which instrument should the lender prepare and give to the borrower? Licensees must notify the DBPR in writing within 10 days of a change in current mailing address. (page 91). Listing Agreements for a term longer than 1 year. A person applies for a mortgage loan from a local credit union. Lynn Amherst is a sales associate for Excel Realty. B. call Sue for up to 18 months after she purchases a property through the brokerage firm C. call Sue if she has placed a "for sale" sign in the yard Which statement is TRUE regarding this situation? NOI = Cap Rate x Value (sale price) 414.94 - 319.58 = 95.36 Within how many days must a landlord notify a tenant of intentions to claim part of the security deposit? Risk. A complaint legally sufficient if it contains facts indicating that a violation of any of the following has occurred. Deed is the written instrument to convey an interest in real property. 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. Using the lump-sum age-life method, find the depreciated value of the building. 156) The building has an effective age of five years. The .gov means its official. Includes: Online Advertising and Marketing. Which statement concerning sections is FALSE? Monthly payments remain constant, and the interest portion comprises the majority of the payments. PGI - V&C = EGI Please note that the following information is for educational purposes only, and additional laws may apply. 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. Compared with the subject property, the comparable is built of superior materials ($20,000) and the comparable has more square footage ($25,000). The procedures instituted must meet the following minimum standards: (1) Written policy. A) The seller can revoke her counteroffer and accept the buyer's original offer up until the time the buyer rejects the counteroffer. Three brothers join together to purchase property. I understand these calls may be generated using an autodialer and may contain pre-recorded messages and that consenting is not required to b. 1st time homebuyers (IRA contribution up to $10K) Learn more about your rights as a consumer and how to spot and avoid scams. Which type of listing allows the seller to list the property with other brokers? Use the actual number of days in the closing month when determining the time line. Branch office of a bank is a service industry that services primarily local residents. The total square footage of the livable area is 2,600. We work to advance government policies that protect consumers and promote competition. "Work surface" Relying on an embodiment disclosed in the specification, the defendant contended that the scope of "work surface . Special Information Booklet (HUD) Persons or entities making calls for telemarketing purposes must have a written policy, available upon demand, for maintaining a do-not-call list. Spot the latest COVID scams, get compliance guidance, and stay up to date on FTC actions during the pandemic. Stay of Enforcement, if granted, stops the enforcement of a suspension or revocation in the final order pending the outcome of the appeal process. On the first of the month, the seller collected total rent for September amounting to $950. Subtract I = R x V A sales associate moves from Jacksonville, Florida, to Atlanta, Georgia. 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. The covenant of warranty forever is included in which type of statutory deed? Which statement about the economic concept of demand is FALSE? Ann. A court may award up to three times that amount for a willful or knowing violation. False - All VA mortgage loans contain a due on sale clause. 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 Internet connects marketers to customers across the country and around the world. Write "Telemarketing Sales Rule ANPR, R411001" on your comment, and file your comment through https://www.regulations.gov. B) tenants and buyers of all residential property. 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. The law is enforced by the Office of the Attorney General. D) Real estate licensees are exempt from the telemarketing laws. 3. This arrangement is. A) Only veterans, surviving spouses of veterans, and active military personnel are eligible to apply for a VA loan. tenants and buyers of all residential property built before 1978. Which statement is TRUE regarding the federal telemarketing law? Within how many days must a licensee notify the Department of Business and Professional Regulation of a change in current mailing address? ($500 fine if not notified correctly). The earnest money deposit normally appears on the closing statement as a. Which entity is a guarantor of mortgage-back securities? She requests a Florida sales associate license based on mutual recognition. Annual Gross: 450,000 - 350,000 = 100,000 x .03 = $3,000 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 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. Use our visualizations to explore scam and fraud trends in your state based on reports from consumers like you. C) The real estate licensee must show that the license was active at the time the transaction was entered into. What was the approximate yield on the loan? The Georgia licensee. 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. 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. (PAGE 190), Which statement concerning sections is FALSE? The calculated interest rate of an adjustable-rate mortgage is determined by adding which two components? 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. Runners crossing the finish line in the Boston Marathon. D) The real estate licensee is not eligible to make a claim against the Real Estate Recovery Fund. (page 247). 2. refinancing of real property or interests in real property A real estate licensee purchased a home from the seller.
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