Choose the correct concept with the example below: When Fern saw the man sitting on the steps in San Francisco holding a cup, she thought he was a homeless person. On February 17, the Justice Department, together with the Federal Trade Commission (FTC), announced a civil enforcement action against several corporate and individual defendants for alleged violations of the FTC Act and the Telemarketing Sales Rule (TSR) in connection with telemarketing campaigns that have involved millions of illegal robocalls. Which statement is TRUE regarding the federal telemarketing law? 501.059. Open listing allows the seller to list the property with multiple brokers. D) Real estate licensees are exempt from the telemarketing laws. She requests a Florida sales associate license based on mutual recognition. Telemarketing also includes sales solicitations via fax, the Internet and mail, if the consumer is encouraged to respond via the telephone, fax . A broker working in a no brokerage relationship capacity with a seller can enter into a listing agreement with that seller and be paid a commission. B) Interest payments remain constant while principal payments increase. A tenant, unable to contact the landlord or the landlord's representative prior to the expiration of a written lease, continues to pay the rent and occupy the premises after the lease expired. Listed here are some FTC laws about specific marketing practices and the promotion of products and services in specific industries. Homestead protection does not prevent foreclosure for nonpayment of property taxes, special assessments, mortgages, vendors' liens, or construction liens secured with homestead property. (2) Training of personnel engaged in telemarketing. Which statement is TRUE regarding this situation? EXCULPATORY CLAUSE is a provision in a mortgage or note in which the lender waives the right to a deficiency judgement against the borrower and the borrower is relived of personal liability to repay the loan. c. There are no federal laws that regulate This problem has been solved! 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 . Use our visualizations to explore scam and fraud trends in your state based on reports from consumers like you. A) This is a violation of the Civil RIghts Act of 1866 B) This is a violation of the Title VIII of the Civil Rights Act of 1968 C) This is permissible under the FAir Housing Act D) This is permissible only if the church is registered as having exempt status with the DBPR C) (pg. The assessed value of an 88-year-old legally blind widow's condominium is $49,500. Reproduction cost: Lynn's home phone number is 333-2020. The building has an effective age of five years. Stay of Enforcement, if granted, stops the enforcement of a suspension or revocation in the final order pending the outcome of the appeal process. Total $26,000, Tax advantages of owning a home do NOT include, Deductions of hazard insurance expense on a principal residence. The Telephone Consumer Protection Act of 1991 (TCPA) was passed by the United States Congress in 1991 and signed into law by President George H. W. Bush as Public Law 102-243. Search the Legal Library instead. Placement of the windows is most important on which type of lot if the homeowner is concerned about the possibility of vehicular headlights shining into the front windows? B) Real estate licensees may advertise their residential listings by faxing promotional flyers to a list of local businesses and hospitals that are on the do-not-call list. Only 2 members must be consumer members who have never been brokers or sales associates. "Work surface" Relying on an embodiment disclosed in the specification, the defendant contended that the scope of "work surface . Which statement applies to this situation? A real estate broker has been hired to manage an apartment complex on behalf of the landlord. Deeds and Mortgage Instruments Which document must a prospective buyer of an existing (resale) condominium unit receive? Which individual is exempt from licensure under Florida Statute 475? A comparable property recently sold for $315,000. A couple are interested in purchasing residential investment property, and they have informed their sales associate that they want limited representation but do not want to be legally held responsible for the acts of a licensee. You are appraising a four-year-old, single-family residence. How must the broker as agent handle the security deposits and advance rent? The loan officer has three business days to give the loan applicant a copy of the information booklet. An apartment building produces an effective annual gross income of $71,820. It does not require the seller, at the seller's expense to conduct and energy efficiency rating of the structure prior to closing. 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. A person who rents lots in a mobile home park. The statement is TRUE. Which lien is classified as a voluntary lien? Memo from Chair Lina M. Khan to commission staff and commissioners regarding the vision and priorities for the FTC. 2. In an effort to address a growing number of telephone marketing calls, Congress enacted in 1991 the Telephone Consumer Protection Act (TCPA). It's one mile square of 640 acres, Range 1 West is located immediately west of the principal meridian and base line. Many states also have laws regulating telemarketing. The seller told her broker that she was revoking the counteroffer and accepting the buyer's original offer. Which requirement is one of the elements of a valid real estate contract? A real estate broker has been hired to manage an apartment complex on behalf of the landlord. Companies also need to be familiar with rules banning most forms of robocalling. After the closing, the licensee discovered that the seller's broker had failed to disclose latent defects. 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 lender's policy protects the lender against title defects. The city has agreed to pay 25 percent of the paving cost and will assess abutting properties for the remainder. What is the annual rent for the year if the annual gross sales are $450,000? (page 166), Developers of 20 or more new residential units must also prepare a PROSPECTUS and file it which summarizes the major points detailed in the condo docs. Which statement is TRUE regarding the federal telemarketing law? The Florida Building Energy-Efficiency Rating Act does NOT require A) the seller, at the seller's expense, to conduct an energy-efficiency rating of the structure prior to closing. D) The seller cannot now accept the original offer, because it was killed by the counteroffer. 1. The referring tenants do not hold real estate licensees. merrick okamoto net worth applicable regarding financial, home, travel, health, and insurance products and services. Call Lynn Amherst, Excel Realty 333-2020 (cell). The company's phone number is 222-1010. The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. Reply 'STOP' to unsubscribe from SMS service. Which statement about the economic concept of demand is FALSE? Calculate the developer's percentage of profit (round to nearest whole percentage point). The RE licensee is not eligible to make a claim against the Real Estate Recovery Fund. The calculated interest rate of an adjustable-rate mortgage is determined by adding which two components? Save our Home (SOH) regulates that the assessed value of a property can only increase 3% annually or the % change of the CPI for the preceding year; whichever is LESS. Before sharing sensitive information, make sure youre on a federal government site. 2. refinancing of real property or interests in real property 4. The buyer did not accept the seller's counteroffer. Many of these lawsuits seem outrageously frivolous, while others deal with incredibly serious matters. An apartment building produces an effective annual gross income of $71,820. The rental property has a negative cash flow of $11,000. 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? A commercial tenant pays a fixed rent each month. A brokerage firm represents a seller as a single agent. Call Lynn Amherst, Excel Realty 333-2020 (cell). These opinions are issued, pursuant to Rules 1.1 - 1.4 of the Commission's Rules of Practice, 16 C.F.R. C) Sellers decide they do not want to sell the property and refuse to allow the broker to release buyer's earnest money deposit. B) The Department of Veterans Affairs partially guarantees VA mortgage loans. A developer advertises homes for sale with a total down payment of $2,000. A) The loan officer has three business days to give the loan applicant a copy of the information booklet. The settlement benefits consumers who received one or more prerecorded voice messages regarding Connected Investors' goods and services between April 28, 2017, and Sept. 26, 2022. What is the annual IRS depreciation deduction? The stepson's interest is that of. 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? 0. 45 x 90 x .75 = $3,037.50 / 2 = $1,518.75, A professional office center is purchased for $475,000. The FALSE statement is the a SECTION contains 43,560 sf. The associate must, An owner of an apartment complex pays $100 to each tenant who refers a person who becomes a tenant. The following is a robust set of proactive and reactive rules to fraud-proof and protect your good name. (Round answer to nearest dollar. A local lender charged 4 percent interest plus 4 points on a conventional mortgage loan. 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. T-Intersection (open view down the street, lights shining into window and possible danger from speeding runaway cars), The term used to measure the amount of energy an electrical appliance consumes is. 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 (page 99), Moral Turpitude involves conduct contrary to honest, good morals, accepted custom (i.e. The developer sold the lots for $250 per front foot. (Round answer to nearest dollar. The FTC does not prohibit bait-and-switch advertising. The company's phone number is 222-1010. The Division of Marketing Practices periodically issues informal staff advisory opinions in response to requests for interpretation of the Telemarketing Sales Rule. A court may award up to three times that amount for a willful or knowing violation. 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. Civil Rights Act of 1866 prohibits any type of discrimination based on race in any real estate transaction (sale or rental) without exception. Market is local in nature; 3. Local government can recover the cost of widening a street in an existing neighborhood by charging the neighborhood property owners a. astros vs yankees cheating. Deed is considered voluntary because it's under the owner's control. The broker decides to appeal FREC's final order. How much is the minimum cash investment on an FHA loan? D) notification that the buyer may order an energy-efficiency rating on the building. 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 in writing and signed to be enforceable. The seller countered at $250,000. Central Asia. B) Federally related transactions do not include transactions associated with refinancing real property. Which characteristic is a disadvantage of investing in real estate? Remainderman - 3rd party fee simple ownership at end of life estate by wife. Which statement is TRUE regarding the federal telemarketing law? Interest on Home Equity The Telemarketing Sales Rule, which requires telemarketers to make specific disclosures of material information; prohibits misrepresentations; sets limits on the times telemarketers may call consumers; prohibits calls to a consumer who has asked not to be called again; and sets payment restrictions for the sale of certain goods and services. The Florida Building Energy-Efficiency Rating Act does NOT require. It does not require the seller, at the seller's expense to conduct and energy efficiency rating of the structure prior to closing. PSA EXCULPATORY CLAUSE is a provision in a mortgage or note in which the lender waives the right to a deficiency judgement against the borrower and the borrower is relived of personal liability to repay the loan. Which type of window is the least energy efficient? Which excerpt conforms to the rule regarding advertising? The landlord pays the property taxes, hazard insurance, and maintenance expenses. Statutes change, so checking them is always a good idea. A buyer has applied for a 20-year mortgage of $52,000 at 7 3/8 percent interest. Calculate the proration and indicate who is debited and who is credited. Citations involve fines that currently range from $100 to $500 per offense and may include other assessments (ex: REQUIRE EDUCATIONAL COURSE ATTENDANCE), If the licensee-respondent disputes the alleged facts noted in the complaint, the licensee-respondent's case must be heard by an administrative judge in a FORMAL HEARING (PAGE 118).
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