A Florida brokerage registration will be automatically cancelled for all of the following reasons EXCEPT:
Correct Answer
C) Temporary suspension of the qualifying broker's license
Correct: C - Temporary suspension of the qualifying broker's license. A temporary suspension does not automatically cancel the brokerage registration, though it may restrict operations during the suspension period. Why not A: This option is incorrect because "Failure to renew the registration before expiration" does not match the rule tested by the question. The correct answer is "Temporary suspension of the qualifying broker's license". A temporary suspension does not automatically cancel the brokerage registration, though it may restrict operations during the suspension period. Why not B: This option is incorrect because "Death of the qualifying broker in a sole proprietorship" does not match the rule tested by the question. The correct answer is "Temporary suspension of the qualifying broker's license". A temporary suspension does not automatically cancel the brokerage registration, though it may restrict operations during the suspension period. Why not D: This option is incorrect because "Dissolution of the registered business entity" does not match the rule tested by the question. The correct answer is "Temporary suspension of the qualifying broker's license". A temporary suspension does not automatically cancel the brokerage registration, though it may restrict operations during the suspension period.
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More Brokerage Activities Procedures Questions
Scenario Harbor Review raises this Florida point. In a Tallahassee transaction, a closing coordinator wants the Florida rule on branch office supervision. Which statement is correct?
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Broker Thompson's brokerage 'Coastal Properties' merges with another firm and will operate under 'Premier Coastal Realty.' What steps must Thompson take regarding the name change?
Broker Roberts discovers that a sales associate has been operating under an expired license for the past 60 days while continuing to show properties and write contracts. Several transactions are pending closing. What is the broker's most serious immediate concern?
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- → Sales associate David wants to create business cards for networking events. What must appear on his business cards to comply with Florida law?
- → Real estate broker Sarah discovers that her sales associate Mark has been placing earnest money deposits into his personal checking account instead of the broker's escrow account. Mark claims he always transfers the funds within 24 hours. What should Sarah do according to Florida law?
- → Earnest money deposits in Florida must be placed in escrow within:
- → Broker Thompson discovers that earnest money from a failed transaction has been sitting in his escrow account for 18 months. The buyer and seller cannot agree on disbursement. What is Thompson's best course of action under Florida law?
- → A Florida broker must register sales associates with DBPR within:
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- → Broker Martinez operates under the trade name 'Sunshine Realty' which is properly registered with the state. Can his sales associates use 'Sunshine Realty' in their advertising instead of Martinez's personal name?
- → Sales associate Mike wants to place a 'For Sale' sign on a listed property. Under Florida law, whose name must appear on the sign?
- → Sales associate Carmen wants to create business cards for networking events. According to Florida advertising requirements, what information must appear on her business cards?
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