Under Florida law, a broker is NOT required to do which of the following regarding transaction records?
Correct Answer
C) Store all records in fireproof safes or safety deposit boxes
Correct: Florida law does not require specific storage methods like fireproof safes, only that records be maintained and accessible. Why not A: 5-year retention is required under F.S. 475.5015. Why not B: Records must be available for FREC inspection during reasonable business hours. Why not D: All material transaction documents must be maintained in broker records.
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Broker Johnson receives a complaint from a seller claiming his sales associate failed to present a backup offer. The associate claims he never received the backup offer. What must Broker Johnson do first under Florida regulations?
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Sales Associate Karen tells Broker Smith that she has been working weekends at another real estate brokerage without his knowledge. What action must Broker Smith take under Florida law?