An individual who repeatedly writes bad checks can be charged with. Which law prohibits racial discrimination in the sale or lease of all real property without exception? A buyer offered $225,000 for a seller's property. 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. If your lot frontage on the street is 90 feet, what is your portion of the special assessment? Which statement is TRUE regarding this situation? Which brokerage relationship is BEST suited to this couple? The associate continues to be employed by the same broker, who has an office in Atlanta. Williams v. The PISA Group DNC Lawsuit Update False - All VA mortgage loans contain a due on sale clause. D) Credit unions are exempt from the Real Estate Settlement Procedures Act. Which statement MOST accurately describes the first year of a 30-year level-payment, fixed rate mortgage? Telecommunications Consumer Protection Act of 1991 (TCPA) Persons or entities making calls for telemarketing purposes must have a written policy, available upon demand, for maintaining a do-not-call list. The mortgagee's title insurance policy is ISSUED FOR THE AMOUNT OF THE MORTGAGE LOAN AND IS TRANSFERABLE. Which statement is TRUE regarding this situation? 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. Use the actual number of days in the closing month when determining the time line. Subtract B) The day after signing the sale contract and reviewing the condominium documents, the buyers notify the broker that they want to cancel the contract. For copies of the rules and commentaries relevant to your Internet enterprise, contact: Consumer Response Center, Federal Trade Commission, Washington, DC 20580; toll-free: 1-877-FTC-HELP begin_of_the_skype_highlighting 1-877-FTC-HELP end_of_the_skype_highlighting . a. The associate continues to be employed by the same broker, who has an office in Atlanta. Azure Exam Prep Questions Flashcards | Quizlet What is the final step in the real estate sale process? ), $475,000*.8 = $380,000 / 39 years = $9,744, Ch. On June 29, Gov. Need for expert help; 4. 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. Is the broker required to retain the brokerage relationship disclosure documents, and if so, for how long? Our mission is protecting consumers and competition by preventing anticompetitive, deceptive, and unfair business practices through law enforcement, advocacy, and education without unduly burdening legitimate business activity. 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. astros vs yankees cheating. False - All VA mortgage loans contain a due on sale clause (page 265), 3.5% is the minimum down payment on a FHA loan. For more information about the TCPA, contact the FCC at fcc.gov. D) buyers of all single-family homes. (PDF) SEC Complaint: Darrel West and Own My Travel, LLC; 2016-12-06 B) Interest payments remain constant while principal payments increase. Which solution is NOT a remedy for the breach of a real estate sale contract? which statement is true regarding the federal telemarketing law? 71,820 - 36,990 = 34,840 NOI $52,000 x .07375 = 3,835 / 12 = 319.58 Before sharing sensitive information, make sure youre on a federal government site. 1. Unit Exam 2 Flashcards | Quizlet The sales associate must notify the DBPR in writing within 60 days regarding her change in residency. A person applies for a mortgage loan from a local credit union. Which characteristic is a disadvantage of investing in real estate? To protect themselves catalog marketers should ask 00018665812022FYFALSEhttp://fasb.org/us-gaap/2022#AccountingStandardsUpdate201602MemberP1YP1YP1YP1YP1Y33.3333.3333.33505010000018665812022-01-012022-12 . Property taxes Which item would be classified as a fixed expense in the calculation of net operating income? Session Law - Acts of 1997 Chapter 164 - EU-Vietnam Business Network (EVBN) B) the creation of a uniform, statewide energy-efficiency rating system. Illiquidity; 2. A) Real estate licensees may call all the for-sale-by-owner sellers in a community to solicit listings without regard to whether the homeowners are listed on the do-not-call registry. Arizona Telemarketing Fraud Laws - FindLaw The "21 Rules You Must Use" are the most important things you need to do now and on an ongoing basis to prevent identity theft. RE R V RE EVERE E R Vol. hotelroyalvasto.com Informacin detallada del sitio web y la empresa A broker is NOT required by law to notify the FREC of conflicting demands in which situation? A court may award up to three times that amount for a willful or knowing violation. 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? Which lien is classified as a voluntary lien? What is the annual IRS depreciation deduction? How much of the $414.94 monthly payment paid in month two will apply to principal? The Florida Real Estate Commission (FREC) issued a seven-year suspension of a broker's license. Florida's telemarketing law became invalid when federal telemarketing laws were implemented. A gross lease is a lease in which the tenant agrees to pay a fixed rental amount, and the landlord pays all expenses related to the property such as real estate taxes, insurance, and maintenance costs. Lynn's home phone number is 333-2020. Widow: $500 In 1992, the Commission adopted rules to implement the TCPA. The covenant of warranty forever is included in which type of statutory deed? 2. It does require that buyer, before signing a sale contract, receive an information brochure notifying the purchaser of the option for an EE rating on the building. End of Pre-License Course Exam Questions - RealEstateExamAnswers.com 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 loan officer has three business days to give the loan applicant a copy of the information booklet. 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 the federal telemarketing law? 501.001 and following, and includes the Florida Telemarketing Act at Fla. Stat. 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 . Lynn is preparing a classified ad for a listed property. Which statement is TRUE regarding the federal telemarketing law? 1.1 - 1.4, in response to questions of general public interest. Which business would be classified as a service industry? Good Faith Estimate (GFE) B) The buyer and seller have entered into a contract for $225,000. You are appraising a four-year-old, single-family residence. Within ten business days after the deposit is due under the sale contract, the broker . How must the broker as agent handle the security deposits and advance rent? 1. transactions for the sale, lease or purchase of RE 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. The law is enforced by the Office of the Attorney General. How must the broker as agent handle the security deposits and advance rent? Seller refuses to sign the release of escrow funds. The sales associate must notify the DBPR in writing within 60 days regarding her change in residency. 6. It does not require the seller, at the seller's expense to conduct and energy efficiency rating of the structure prior to closing. How will the property taxes be entered on the closing statement? Tenancy in Common (no right of survivor ship, heirs inherit), Remainderman - 3rd party fee simple ownership at end of life estate by wife. 633.33 debited to seller and credited to buyer. A duplex is scheduled to close on September 10. 227. The seller countered at $250,000. Memo from Chair Lina M. Khan to commission staff and commissioners regarding the vision and priorities for the FTC. The Federal Communications Commission (FCC) enforces the Telephone Consumer Protection Act (TCPA), which also regulates telemarketing. Lynn Amherst is a sales associate for Excel Realty. 485 x 76 = 36,860 Section 31 would be located in which corner? Legally Blind: $500 A) The seller can revoke her counteroffer and accept the buyer's original offer up until the time the buyer rejects the counteroffer. Federally related transactions do not include transactions associated with refinancing real property. 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. Similarly, a brokerage firm working in a no brokerage relationship capacity can work with a buyer. Prevention Methods - Identity Crimes - Center for Identity Management Limited partners must register with the FREC under the limited partnership name. The landlord pays the property taxes, hazard insurance, and maintenance expenses. Find the resources you need to understand how consumer protection law impacts your business. The Georgia licensee. Reproduction cost: Compared with the subject property, the comparable is built of superior materials ($20,000) and the comparable has more square footage ($25,000). Advertising and Marketing | Federal Trade Commission B) exclusion of gain from the sale of a principal residence up to $500,000 if married and filing a joint return. The broker decides to appeal FREC's final order. The SE1/4 of the SW1/4 of the N1/2 and the NE1/4 of the SW1/4 of Section 19 contains how many acres? The total square footage of the livable area is 2,600. A) Limited partners must register with the FREC under the limited partnership name. Contract to purchase a shopping center (page 58). A real estate broker has been hired to manage an apartment complex on behalf of the landlord. C) Federally related transactions involve a federally insured financial institution. A licensee may not earn credit for attending a FREC meeting if the licensee is on the legal agenda for disciplinary action. 3. A person who rents lots in a mobile home park. Which document must be given to prospective purchasers only if purchasing a condo from a developer of 20 or more new residential condominium units? Florida's "Mini-TCPA" May Be More Broad and More Severe Than Its Homestead property is exempted from forced sale to satisfy judgement liens for debts owing to personal loans, CREDIT CARD DEBT, etc. A qualified buyer offers to pay the $2,000 down, but the developer states that the $2,000 down homes are all sold. What is the annual rent for the year if the annual gross sales are $450,000? (page 99), Moral Turpitude involves conduct contrary to honest, good morals, accepted custom (i.e. PSA B) The loan applicant can sue the credit union for violating the Fair Housing laws. What was the approximate yield on the loan? The brokerage relationship disclosure requirements in Chapter 475, Florida Statutes, do NOT apply to which transaction? Use the actual number of days in the closing month when determining the time line. 5. An apartment building produces an effective annual gross income of $71,820. Open All + 14 Real estate related computations and c, 63 hour Real Estate practice Exam (first 50), Course Exam Review for Tampa School of Real E, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese, Alexander Holmes, Barbara Illowsky, Susan Dean, Calculus for Business, Economics, Life Sciences and Social Sciences, Karl E. Byleen, Michael R. Ziegler, Michae Ziegler, Raymond A. Barnett, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield. Three brothers join together to purchase property. Real estate licensees may not represent a CMA as an appraisal. A buyer has applied for a 20-year mortgage of $52,000 at 7 3/8 percent interest. A person applies for a mortgage loan from a local credit union. A) The loan officer has three business days to give the loan applicant a copy of the information booklet. The TCPA restricts telephone solicitations (i.e., telemarketing) and the use of automated telephone equipment. Stephanie T. Nguyen, Chief Technology Officer, Competition and Consumer Protection Guidance Documents, HSR threshold adjustments and reportability for 2023, A Century of Technological Evolution at the Federal Trade Commission, National Consumer Protection Week 2023 Begins Sunday, March 5, FTC at the 65th Annual Heard Museum Guild Indian Fair & Market - NCPW 2023, Franchises, Business Opportunities, and Investments, https://www.federalregister.gov/regulations/3084-AA98/telemarketing-sales-rule, 16 CFR Part 310: Telemarketing Sales Rule Fees; Final Rule Updating Fees Charged to Entities Accessing the National Do Not Call Registry, 16 CFR Part 310: Telemarketing Sales Rule Fees; Final Rule Updating Fees Charged to Entities Accessing the National Do Not Call Registry, 16 CFR Part 310: Telemarketing Sales Rule Fee; Final Rule That Updates Fees Charged To Entities Accessing the National Do Not Call Registry, Agency Information Collection Activities; Submission for OMB Review; Comment Request; Notice (Telemarketing Sales Rule), Telemarketing Sales Rule Information Collection Activities; Proposed Collection; Comment Request, 16 CFR Part 310: Telemarketing Sales Rule: Final Rule Amendments: Federal Register Notice Containing the Final Telemarketing Sales Rule Amendments and the Statement of Basis and Purpose, 16 CFR Part 310: Telemarketing Sales Rule Fees; Notice Advising That There Will BE No Fee Increase for Accessing the National Do Not Call Registry for Fiscal Year 2016, 16 CFR Part 310: Telemarketing Sales Rule; Extension of Comment Period for Rule Review to November 13, 2014, 16 CFR Part 310: Telemarketing Sales Rule Fees; Final Rule Amending TSR Fees Charged to Entities Accessing the National Do-Not-Call Registry, as Required by the Do-Not-Call Registry Fee Extension Act of 2007, 16 CFR Part 310: Telemarketing Sales Rule Federal Register Notice: Rule Review Request for Public Comments as Part of the FTCs Systematic Regulatory Review, Modified Ten-Year Regulatory Review Schedule; Notice of Intent to Request Public Comments, 16 CFR Part 310: Telemarketing Sales Rule; Notification of Termination of Caller ID Rulemaking Federal Register Notice, 16 C.F.R. (Round answer to nearest dollar. A developer purchased two 145-front foot lots for $23,900 net each and divided them into three lots of equal front footage. Civil Rights Act of 1866 prohibits any type of discrimination based on race in any real estate transaction (sale or rental) without exception. The company's phone number is 222-1010. Which statement is TRUE? FL law does not require that prospective buyers and seller be represented. 2003-2023 Chegg Inc. All rights reserved. Therefore, debited to seller and credited to buyer. (EDGAR Online via COMTEX) -- false 0001564406 0001564406 2023-02-08 2023-02-08 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM. Recording it in the public records shows that the mortgage lien has been removed. Which statement MOST accurately describes the first year of a 30-year level-payment, fixed rate mortgage? 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 Stay of Enforcement, if granted, stops the enforcement of a suspension or revocation in the final order pending the outcome of the appeal process. Test Prep A Flashcards - Cram.com A developer advertises homes for sale with a total down payment of $2,000. An official website of the United States government. These presidential actions can include executive orders, presidential memoranda, and proclamations. Which statement is TRUE? Accretion is the process of land buildup from water-borne rock, sand, and soil. The Telephone Consumer Protection Act (TCPA) was passed in 1991 in response to consumer complaints of increased marketing calls and automated, pre-recorded messages. This arrangement is, illegal, because the amount of compensation exceeds the allowable amount. Liquidation analysis, reproduction cost analysis, and income capitalization analysis (and comparable sales analysis). a) The name on the real estate brokerage firm for which the associate works must be printed on the key rings b) As long as the sales associate is paying the entire cost of the rings, he can put any wording on them he chooses. 34,840 / .12 = $290,250 max purchase price. Calculate the proration and indicate who is debited and who is credited. Which amendment to the Florida constitution limits how much the assessed value of homesteaded property can increase in a given year? I understand these calls may be generated using an autodialer and may contain pre-recorded messages and that consenting is not required to A) Only veterans, surviving spouses of veterans, and active military personnel are eligible to apply for a VA loan. Which entity is a guarantor of mortgage-back securities? The building has an effective age of five years. Find legal resources and guidance to understand your business responsibilities and comply with the law. The process of land buildup from water-borne rock and soil is referred to as. Listed here are some FTC laws about specific marketing practices and the promotion of products and services in specific industries. 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. (no more than $50 to an unlicensed person who is a tenant of the apartment complex for the referral fee. 315,000 - 20,000 - 25,000 = 270,000. (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. Which type of window is the least energy efficient? Savings associations can sell existing mortgage loans to which entity? The rental property has a negative cash flow of $11,000. Five-Star Reviews Enforcement Regulations from the FTC What is the total property tax exemption on her homesteaded property? The Telephone Consumer Protection Act (TCPA) is the primary federal law governing the regulation of telephone solicitations. 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? The Georgia licensee. A lease calls for annual minimum rent of $14,500 plus 3 percent of annual gross sales in excess of $350,000. (page 219). 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). Many states also have laws regulating telemarketing. The statute of frauds requires that contracts conveying an interest in real property and contracts that aren't to be performed within one year of the date created must be. The overall capitalization rate (OAR) is determined by analyzing which two components of similar properties in the subject property's market area? Distinguish between FASB Accounting Standards Updates and FASB Statements of Financial Accounting Concepts. A sales associate moves from Jacksonville, Florida, to Atlanta, Georgia. C) The seller has breached the buyer's contract, and the buyer can sue to force the seller to take a lower price. Telemarketing | Federal Trade Commission A licensee may not earn credit for attending a FREC meeting if the licensee is on the legal agenda for disciplinary action. statement is TRUE. On June 29, - stradanove.net AN ACT RELATIVE TO RESTRUCTURING THE ELECTRIC UTILITY INDUSTRY IN THE COMMONWEALTH, REGULATING THE PROVISION OF ELECTRICITY AND OTHER SERVICES, AND PROMOTING ENHANCED CONSUMER PROTECTIONS. C) Limited partners are personally liable for the debts of the partnership. Which list of appraisal methods is unique to the appraisal of business enterprises? The seller told her broker that she was revoking the counteroffer and accepting the buyer's original offer. Real estate licensees may not represent a CMA as an appraisal. A licensee who is issued a citation may be ordered to, If a licensee/respondent disputes any of the allegations outlined in the administrative complaint, the case must be heard in, When a consumer files a complaint against a real estate licensee that contains facts indicating that a violation of rules of the Florida Real Estate Commission has occurred, the complaint is said to be. Write "Telemarketing Sales Rule ANPR, R411001" on your comment, and file your comment through https://www.regulations.gov.
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