The Florida Real Estate Commission (FREC) issued a seven-year suspension of a broker's license. Which solution is NOT a remedy for the breach of a real estate sale contract? Which statement concerning sections is FALSE? B) Federally related transactions do not include transactions associated with refinancing real property. All natural persons in the United States who, within four years preceding the filing of this case, received more than one telephone solicitation call from PGI within a 12-month period. Eaux Claires, Edmonton home for sale. Telemarketing | Federal Communications Commission 2. The purpose of the Do Not Call registry is to give consumers a choice regarding telemarketing calls. allows a sales associate or broker associate employed by an owner-developer to sell property for all the affiliated entities owned by the developer. In addition, truth-in-advertising standards apply if . Which list of appraisal methods is unique to the appraisal of business enterprises? 3.5% is the minimum down payment on a FHA loan. C) Sellers decide they do not want to sell the property and refuse to allow the broker to release buyer's earnest money deposit. Which mortgage clause requires the lender to waive the right to a deficiency judgment against the borrower, relieving the borrower of personal liability to repay the loan? B) The loan applicant can sue the credit union for violating the Fair Housing laws. Market is local in nature; 3. D) Real estate licensees are exempt from the telemarketing laws. b. self-serving bias e. social categorization, Briefly explain the importance of each of the following. Facebook Instagram. 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. Which excerpt conforms to the rule regarding advertising? . Five-Star Reviews Enforcement Regulations from the FTC The rental property has a negative cash flow of $11,000. Telecommunications Consumer Protection Act of 1991 (TCPA) The associate continues to be employed by the same broker, who has an office in Atlanta. Within how many days must a landlord notify a tenant of intentions to claim part of the security deposit? Stay of Enforcement, if granted, stops the enforcement of a suspension or revocation in the final order pending the outcome of the appeal process. Which statement applies to this situation? Division of Florida Condominiums, Timeshares, and Mobile Homes is charged with providing complaint resolution for HOAs. Which statement is TRUE regarding the federal telemarketing law? D) buyers of all single-family homes. D. 950 / 30 = 31.67 x 20 = $633.33 Brad Dye's Paging Information Resource Compared with the subject property, the comparable is built of superior materials ($20,000) and the comparable has more square footage ($25,000). Limited partners must register with the FREC under the limited partnership name. A duplex is scheduled to close on September 10. Calculate the developer's percentage of profit (round to nearest whole percentage point). which statement is true regarding the federal telemarketing lawrenal cancer symptoms Menu nfl flex schedule changes. 8 a.m. C) Limited partners are personally liable for the debts of the partnership. Which business would be classified as a service industry? The sales associate must notify the DBPR in writing within 60 days regarding her change in residency. The telemarketing class action lawsuit accuses Connected Investors of violating the TCPA with unsolicited prerecorded voice message advertisements. It does not require the seller, at the seller's expense to conduct and energy efficiency rating of the structure prior to closing. $52,000 x .07375 = 3,835 / 12 = 319.58 6. Total $26,000, Tax advantages of owning a home do NOT include, Deductions of hazard insurance expense on a principal residence. Which statement is TRUE regarding the federal telemarketing law? The seller countered at $250,000. Seller refuses to sign the release of escrow funds. (no more than $50 to an unlicensed person who is a tenant of the apartment complex for the referral fee. A person applies for a mortgage loan from a local credit union. The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. What is the TCPA? - Contact Center Compliance Hazard Insurance is included as part of a fixed expense (also ppty taxes) Mortgage payments are not considered an opex because they are not directly associated with the maintenance and operation of the property. How many members of the Florida Real Estate Commission must be consumer members who have never been real estate brokers or sales associates? deliver the deposit check to the employer by the end of business on Thursday. CREDIT TO THE BUYER ONLY - the buyer pays the binder deposit when the contract info is entered into - entered as a credit to the buyer since this portion of the purchase price has already been paid and will not be paid again. (page 99), Moral Turpitude involves conduct contrary to honest, good morals, accepted custom (i.e. A township has 36 parcels called "sections." Which statement is TRUE? 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. B) It is in the licensee's best interest not to request reimbursement from the fund, because the licensee's license would be suspended. Which lien is classified as a voluntary lien? writing bad checks, crimes of larceny). 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. Which item would be classified as a fixed expense in the calculation of net operating income? The Florida Building Energy-Efficiency Rating Act does NOT require. Code of Federal Regulations: Restrictions on Telemarketing and 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. Place the funds in an interest-bearing account in a Florida bank and pay the tenant 5 percent interest (separate interest-bearing FL bank account and pay the tenant at least 75% of any annualized average interest rate or 5% per year simple interest. (page 176). A buyer offered $225,000 for a seller's property. A brokerage firm represents a seller as a single agent. Widow: $500 What is the annual IRS depreciation deduction? hotelroyalvasto.com Informacin detallada del sitio web y la empresa How is the earnest money deposit entered on the closing statement? Deed is considered voluntary because it's under the owner's control. The seller countered at $250,000. croatia vs bulgaria prediction; he said she said wedding game; A qualified buyer offers to pay the $2,000 down, but the developer states that the $2,000 down homes are all sold. The landlord pays the property taxes, hazard insurance, and maintenance expenses. Only 2 members must be consumer members who have never been brokers or sales associates. Azure Exam Prep Questions Flashcards | Quizlet Since seller hasn't received the money, it's not shown on the seller's statement. B) tenants and buyers of all residential property. Which statement concerning Department of Veterans Affairs (VA) mortgage loans is FALSE? Spot the latest COVID scams, get compliance guidance, and stay up to date on FTC actions during the pandemic. The loan officer has three business days to give the loan applicant a copy of the information booklet. a statement by you that you have a good faith belief that the disputed use is not authorized by the copyright owner, its agent, or the law; a statement by you, made under penalty of perjury, that the information provided in your notification is accurate and that you are the copyright owner or authorized to act on the copyright owner's behalf. And some rules can even vary within a state. Is the broker required to retain the brokerage relationship disclosure documents, and if so, for how long? The stepson's interest is that of, The process of land buildup from water-borne rock and soil is referred to as. 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. ($500 fine if not notified correctly). Includes: Legally Blind: $500 A real estate broker has been hired to manage an apartment complex on behalf of the landlord. 501.001 and following, and includes the Florida Telemarketing Act at Fla. Stat. Telemarketing Sales Rule | Federal Trade Commission A written contract for sale and purchase of commercial property that used designated sales associates failed to close. 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 . Which document must a prospective buyer of an existing (resale) condominium unit receive? At resale, buyer entitled to copy of declaration of condominium, articles of incorporation, bylaws, rules of assoc, FAQ, copy of most recent year end financial statement and GOVERNANCE FORM. The seller is still owed the entire amount of the purchase price. A brokerage firm represents a seller as a single agent. 485 x 76 = 36,860 Which expense is deducted to derive effective gross income? Lina M. Khan was sworn in as Chair of the Federal Trade Commission on June 15, 2021. The brothers want their interest in the property to go to their spouses in the event of their deaths. 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. Tenancy in Common (no right of survivor ship, heirs inherit), Remainderman - 3rd party fee simple ownership at end of life estate by wife. which statement is true regarding the federal telemarketing law? C) The seller has breached the buyer's contract, and the buyer can sue to force the seller to take a lower price. c. There are no federal laws that regulate This problem has been solved! How will the property taxes be entered on the closing statement? C) The loan officer can be fined by the Department of Housing and Urban Development (HUD). The loan officer has three business days to give the loan applicant a copy of the information booklet. We work to advance government policies that protect consumers and promote competition. How must the broker as agent handle the security deposits and advance rent? C) Federally related transactions involve a federally insured financial institution. 1. Florida's telemarketing law became invalid when federal telemarketing laws were implemented. Which statement is TRUE regarding comparative market analyses (CMAs)? Which statement is TRUE regarding Florida's telemarketing law? Hazard Insurance is included as part of a fixed expense (also ppty taxes), Functional Obsolescence - operational inadequacies, poor design, or changing tastes and preferences (page 342), T-Intersection (open view down the street, lights shining into window and possible danger from speeding runaway cars - page 358), Wattage is the measurement of the amount of energy consumed. The Florida Consumer Protection Law is located at Fla. Stat. Bars telemarketers from intentionally blocking caller identification; Requires telemarketers at the beginning of every sales call to disclose the name of person making the call, as well as the name of the telemarketing company, the name of person or . Tenancy at Will - if the tenant's holding over is continued with the written consent of the lessor, the tenancy becomes a tenancy at will under FL law. If the annual operating expenses amount to $36,990, and a prospective investor insists on at least a 12 percent overall rate of return, what is the maximum amount the investor should pay for the property? What is the adjusted sale price of the comparable? A local lender charged 4 percent interest plus 4 points on a conventional mortgage loan. 24,700 / 47,800 = 52% profit. According to the contract for sale and purchase, the buyer is due the rental income for the day of closing. D) Principal payments remain constant while interest payments increase. Range 1 West is located immediately west of the principal meridian and base line. These opinions are issued, pursuant to Rules 1.1 - 1.4 of the Commission's Rules of Practice, 16 C.F.R. 47 Usc Chapter 5, Subchapter Ii: Common Carriers D) Buyer finds another property at a lower price and demands a refund of the earnest money deposit. The land value is 20 percent of the total acquisition cost. EGI - OPEX = NOI (1) by the person or entity providing a wire or electronic communications service; (2) by a user of that service with respect to a communication of or intended for that user; or (3) in section 2703, 2704 or 2518 of this title. Only 2 members must be consumer members who have never been brokers or sales associates. [1] Certain callers are required by federal law to respect this request. In one of the more upsetting high-profile lawsuits, Vanessa Bryant has just reached a final . Option Contracts The developer sold the lots for $250 per front foot. 1. Personnel engaged in any aspect of telemarketing must be . State law (CGS 42-288a) requires DCP to establish and maintain a listing of consumers who do not wish to receive unsolicited telephone sales calls from firms offering goods or services. Maccas case study - Good - OPERATIONS role of operations management Federal and State Laws, Regulations, and Related Court Decisions Executive Orders and Other Presidential Actions The president creates many documents to issue orders and make announcements. Calculate the reproduction cost new of the structure. A comparable property recently sold for $315,000. 34,840 / .12 = $290,250 max purchase price. A buyer offered $225,000 for a seller's property. Complaint resolution for homeowner associations is provided by which division of Florida government? 414.94 - 319.58 = 95.36 Licensees must notify the DBPR in writing within 10 days of a change in current mailing address. 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). Subtract For more information about the TCPA, contact the FCC at fcc.gov. After the closing, the licensee discovered that the seller's broker had failed to disclose latent defects. 290 x 250 = 72,500 - 47,800 = 24,700 Informacin detallada del sitio web y la empresa: hotelroyalvasto.com, +39873801950 Hotel Royal Vasto Marina - Hotel 3 stelle sul mare a Vasto Marina in Abruzzo press system to optout of receiving their prerecorded telemarketing messages;(2) to add the consumers' telephone numbers to the seller's do-not-call list; (3) to immediately disconnect the call; and (4) when leaving a message regarding a telemarketing call, the small business must Using the lump-sum age-life method, find the depreciated value of the building. salvarani.com Informacin detallada del sitio web y la empresa How will the property taxes be entered on the closing statement? Test Prep A Flashcards - Cram.com Vendor's Lien - equitable lien of the grantor (seller under a PMM) on the land conveyed in the amount of the unpaid purchase price, The right of the state to take property of a person who died intestate and without heirs is known as. B. "Work surface" Relying on an embodiment disclosed in the specification, the defendant contended that the scope of "work surface . On the first of the month, the seller collected total rent for September amounting to $950. The seller cannot now accept the original offer, because it was killed by the counteroffer. Is this transaction covered under Truth in Lending Act? A) Only veterans, surviving spouses of veterans, and active military personnel are eligible to apply for a VA loan. Part 310: Telemarketing Sales Rule: Advanced Notice of Proposed Rulemaking; Request for Public Comments Concerning Caller Identification Services and Disclosure of the Identity of the Seller or Telemarketer Responsible for Telemarketing Calls, Telemarketing Sales Rule; Final Rule; Correction, Telemarketing Sales Rule; Final Rule Amendments, Telemarketing Sales Rule; Extension of Comment Period in Notice of Proposed Rulemaking - 16 CFR Part 310, Telemarketing Sales Rule - 16 CFR Part 310, Telemarketing Sales Rule Fees - 16 CFR Part 310, Telemarketing Sales Rules; Notice of 15 day Extension in Comment Period - 16 CFR Part 310, Notice of 30-Day Extension in Comment Period in the Review of the Telemarketing Sales Rule - 16 CFR Part 310, Telemarketing Sale Rule - 16 CFR Part 310, Notice of Intent to Request Public Comments on Guides for the Household Furniture Industry and the Telemarketing Sales Rule - 16 CFR Parts 250 and 310, Do-Not-Call Provisions of Telemarketing Sales Rule; Meeting - 16 CFR Part 310, Telemarketing Sales Rule "Divestiture Orders in Merger Cases" Agency Information Collection Activities; Proposed Collection; Comment Request; Extension - 16 CFR 310, Telemarketer Fees to Access the FTCs National Do Not Call Registry to Increase in FY 2019, Telemarketer Fees to Access the FTCs Do Not Call Registry to Rise Slightly in FY 2018, FTC Update: Telemarketer Fees for the Do Not Call Registry to Rise Slightly in FY 2017, FTC Amends Telemarketing Rule to Ban Payment Methods Used by Scammers, La FTC enmienda la Regla de Telemercadeo para prohibir mtodos de pago utilizados por los estafadores, Public Forum on Debt Relief Amendments to the Telemarketing Sales Rule, Public Forum on the Telemarketing Sales Rule: "Do-Not-Call", Workshop On Proposed Telemarketing Sales Rule. Accretion is the process of land buildup from water-borne rock, sand, and soil. Which statement is TRUE regarding this situation? The associate must. How much of the $414.94 monthly payment paid in month two will apply to principal? Transaction Broker - in a transaction broker relationship the buyer or seller is not responsible for the acts of a licensee (page 58). Companies also need to be familiar with rules banning most forms of robocalling. Which document must be given to prospective purchasers only if purchasing a condo from a developer of 20 or more new residential condominium units? A building is valued at $135,000 with an estimated 25-year useful economic life. Final Exam Prep Flashcards | Quizlet The brokerage relationship disclosure requirements in Chapter 475, Florida Statutes, do NOT apply to which transaction? PSA If you prefer to file your comment on paper, mail your comment to the following address: Federal Trade Commission, Office of the Secretary, 600 Pennsylvania Avenue NW, Suite CC-5610 (Annex B), Washington, DC 20580. A broker is NOT required by law to notify the FREC of conflicting demands in which situation? TELEMARKETERS FOR ELECTRIC SUPPLIERS - Connecticut General Assembly A written contract for sale and purchase of commercial property that used designated sales associates failed to close. $276,060 total. . Reply 'Help' for help. A lead-based paint disclosure must be given to A) tenants and buyers of all rental property if a family member is younger than three. Need for expert help; 4. The law is enforced by the Office of the Attorney General. Base: 14,500 I = R x V NOI = Cap Rate x Value (sale price) Which requirement is one of the elements of a valid real estate contract? (page 169), The answer is ACCRETION. How much is the minimum cash investment on an FHA loan? 52,000 - 95.36 = 51,904.64 On June 29, Gov. A Georgia real estate licensee moved to Miami five months ago. The street in front of your house is to be paved at a cost of $45 per foot. Listed here are some FTC laws about specific marketing practices and the promotion of products and services in specific industries. Which of the following statements about consumer protection laws is true? Better Also, created a uniform statewide rating system for rating new and existing residential, commercial and public buildings. 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 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. The city has agreed to pay 25 percent of the paving cost and will assess abutting properties for the remainder. Which statement is TRUE regarding the key rings? Accretion is the process of land buildup from water-borne rock, sand, and soil. A) Claim against the Real Estate Recovery Fund B) Suit for compensatory damages C) Suit for specific performance D) Provision for liquidated damages, Claim against the RE Recovery Fund is for a result of license law violations by a licensee ($50k per transaction and mo more than $150K against on licensee involved in mult transactions, PAGE 129). deliver the deposit check to the employer by the end of business on Thursday. A broker is NOT required by law to notify the FREC of conflicting demands in which situation? Branch office of a bank is a service industry that services primarily local residents. How Laws Are Made | USAGov Florida Expands Telemarketing Laws - The National Law Review Study with Quizlet and memorize flashcards containing terms like Which type of business entity is at risk of no longer continuing if the owner becomes incapacitated?, Certain age-55-and-older communities are exempt from the familial status provisions of the Fair Housing Act if the communities offer amenities, specific programs, and activities designed for the mature adult and, Capri Realty is . Servicing disclosure statement. A building is valued at $135,000 with an estimated 25-year useful economic life. 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. Calculate the developer's percentage of profit (round to nearest whole percentage point). Place the funds in an interest-bearing account in a Florida bank and pay the tenant 5 percent interest (separate interest-bearing FL bank account and pay the tenant at least 75% of any annualized average interest rate or 5% per year simple interest - page 153). Arizona Telemarketing Fraud Laws - FindLaw What is the total property tax exemption on her homesteaded property? Many of these lawsuits seem outrageously frivolous, while others deal with incredibly serious matters. Statutes change, so checking them is always a good idea. Which statement is TRUE regarding this situation? False - All VA mortgage loans contain a due on sale clause. The extensible markup language (XML) is a markup language promoted by the World Wide Web consortium (W3C). Deductions of hazard insurance expense on a principal residence. Which request should be made by the broker's attorney so that the broker can continue to work during the appeal process? Which statement is TRUE regarding this practice? A) Seller and buyer both claim the earnest money deposit. U.S.C. Title 18 - CRIMES AND CRIMINAL PROCEDURE The assessed value of an 88-year-old legally blind widow's condominium is $49,500. The licensee sued the seller's broker and was awarded a judgment.