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In a Tampa transaction, a buyer wants the Florida rule on license denial. Which statement is correct?

Correct Answer

D) One FREC member may be a licensed broker or licensed sales associate who has held an active license for at least two years before appointment.

One FREC member may be a licensed broker or licensed sales associate who has held an active license for at least two years before appointment. This follows F.S. § 475.02; F.S. § 475.25; Rule 61J2-20.009, F.A.C.; FREC Real Estate Law Book.

Answer Options
A
Florida law requires two FREC members to be at least 60 years old under Florida law.
B
FREC may sentence a violator to jail as part of an administrative final order.
C
Every FREC member must be a currently active broker for at least five years.
D
One FREC member may be a licensed broker or licensed sales associate who has held an active license for at least two years before appointment.

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Related Topics & Key Terms

Key Terms:

floridastate_portionfrec_structurelicense_law_frec_rules

Related Concepts

Price fixing is an illegal antitrust practice in which competing real estate brokerages agree to charge the same commission rates, fees, or other pricing for their services. It is a per se violation of the Sherman Antitrust Act.

Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.

A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.

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