414.94 - 319.21 = 95.94 principal amount for month 2. 640/4/4 = 40 FCC Actions on Robocalls, Telemarketing | Federal Communications Commission The day after signing the sale contract and reviewing the condominium documents, the buyers notify the broker that they want to cancel the contract. A developer purchased two 145-front foot lots for $23,900 net each and divided them into three lots of equal front footage. The broker decides to appeal FREC's final order. 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? Test Prep A Flashcards - Cram.com 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. 2,600 x 92 = 239,200 Tenancy at Sufferance - without the consent of the landlord. Which excerpt conforms to the rule regarding advertising? The telemarketing class action lawsuit accuses Connected Investors of violating the TCPA with unsolicited prerecorded voice message advertisements. Which type of depreciation is associated with inefficient architectural design? Which statement is TRUE regarding the federal telemarketing law? www.sec.gov Unit Exam 2 Flashcards | Quizlet InVirtek Vision International ULC v.Assembly Guidance Systems, Inc. d/b/a Aligned Vision, No. The site is secure. Three brothers join together to purchase property. Which statement is TRUE regarding a title company holding the escrow funds? 34,840 / .12 = $290,250 max purchase price. Exclusion from gain on sale of principal residence up to $250K for single person, $500K for married couple filing jointly. (page 372), Municipal Airport - immune properties are city, county, state and federal gov't properties, Special Assessments are one-time taxes levied on properties to help pay for some public improvement that benefits property - typically levied on a front foot basis or per hookup basis for utility and sewer improvements. Recording it in the public records shows that the mortgage lien has been removed. Which statement is TRUE regarding the federal telemarketing law? The constitutional homestead law protects real property from forced sale to satisfy which type of delinquent debt? Licensees must notify the DBPR in writing within 10 days of a change in current mailing address. The loan officer has three business days to give the loan applicant a copy of the information booklet. 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. C) Principal comprises the majority of the payments. The most high-profile celebrity lawsuits of all time Lina M. Khan was sworn in as Chair of the Federal Trade Commission on June 15, 2021. von | Jun 17, 2022 | tornadoes of 1965 | | Jun 17, 2022 | tornadoes of 1965 | Which statement is TRUE regarding comparative market analyses (CMAs)? Florida's "Mini-TCPA" May Be More Broad and More Severe Than Its A satisfaction of mortgage is given by the lender to the borrower when the loan is paid off, must be sent to mortgagor within 60 days. Alienware 34 Curved QD-OLED Gaming Monitor - AW3423DW For Sale D) Principal payments remain constant while interest payments increase. A complaint legally sufficient if it contains facts indicating that a violation of any of the following has occurred. Which business would be classified as a service industry? It does not require the seller, at the seller's expense to conduct and energy efficiency rating of the structure prior to closing. The landlord pays the property taxes, hazard insurance, and maintenance expenses. The RE licensee is not eligible to make a claim against the Real Estate Recovery Fund. If your lot frontage on the street is 90 feet, what is your portion of the special assessment? (page 169), The answer is ACCRETION. 2. Which individual is exempt from licensure under Florida Statute 475? deliver the deposit check to the employer by the end of business on Thursday. Telemarketing also includes sales solicitations via fax, the Internet and mail, if the consumer is encouraged to respond via the telephone, fax . C) The seller has breached the buyer's contract, and the buyer can sue to force the seller to take a lower price. Reproduction cost: A real estate broker has been hired to manage an apartment complex on behalf of the landlord. 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. Under the statute of frauds, which element is required for contracts pertaining to the purchase and sale of real property (except for certain specific exceptions)? The buyer did not accept the seller's counteroffer. Which statement regarding a limited real estate partnership is TRUE? The purpose of the Do Not Call registry is to give consumers a choice regarding telemarketing calls. C) Federally related transactions involve a federally insured financial institution. 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? English Practice Test Florida Real Estate Principles, Practices & Law D. NOI and Sale Price. Prevention Methods - Identity Crimes - Center for Identity Management A real estate licensee purchased a home from the seller. Legally Blind: $500 How many members of the Florida Real Estate Commission must be consumer members who have never been real estate brokers or sales associates? Main Menu 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. Referred to as Florida's "Mini-TCPA," this new law, CS/SB 1120, updates the Florida Consumer Protection Law and the Florida Telemarketing Act. Local government can recover the cost of widening a street in an existing neighborhood by charging the neighborhood property owners a. hotelroyalvasto.com Informacin detallada del sitio web y la empresa Division of Florida Condominiums, Timeshares, and Mobile Homes is charged with providing complaint resolution for HOAs. She requests a Florida sales associate license based on mutual recognition. Search the Legal Library instead. A) A section is a square one mile on each side B) A section contains 640 acres C) A section contains 43,560 square feet D) A section has an area of one square mile, The FALSE statement is the a SECTION contains 43,560 sf. A lease calls for annual minimum rent of $14,500 plus 3 percent of annual gross sales in excess of $350,000. Bush in 1991 and has remained the bedrock of federal telemarketing regulations ever since. 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. Within ten business days after the deposit is due under the sale contract, the broker . All national chartered commercial banks are members of which entity? A Poisson distribution might be a good approximation for which of the following? 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. The seller cannot now accept the original offer, because it was killed by the counteroffer. They have created which type of estate or tenancy? which statement is true regarding the federal telemarketing law croatia vs bulgaria prediction; he said she said wedding game; Write "Telemarketing Sales Rule ANPR, R411001" on your comment, and file your comment through https://www.regulations.gov. What is the state's intangible tax on a new mortgage of $10,000? Mortgage interest Residential leases are usually gross leases. Using the lump-sum age-life method, find the depreciated value of the building. tenants and buyers of all residential property built before 1978. The following is a robust set of proactive and reactive rules to fraud-proof and protect your good name. A real estate licensee purchased a home from the seller. In practice, the state list is integrated with the national do-not-call list maintained by the Federal Trade Commission (FTC). The garage is 485 square feet. Good Faith Estimate (GFE) On the first of the month, the seller collected total rent for September amounting to $950. The calculated interest rate of an adjustable-rate mortgage is determined by adding which two components? Open listing allows the seller to list the property with multiple brokers. Florida Expands Telemarketing Laws - The National Law Review (no more than $50 to an unlicensed person who is a tenant of the apartment complex for the referral fee - page 95). Governance Form summarizes board of directors and the rights of the unit. It's one mile square of 640 acres, Range 1 West is located immediately west of the principal meridian and base line. National Do Not Call Registry - Wikipedia This arrangement is, illegal, because the amount of compensation exceeds the allowable amount. Deeds and Mortgage Instruments Distinguish between FASB Accounting Standards Updates and FASB Statements of Financial Accounting Concepts. 227. writing bad checks, crimes of larceny). 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. The Division of Marketing Practices periodically issues informal staff advisory opinions in response to requests for interpretation of the Telemarketing Sales Rule. 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. Is this transaction covered under Truth in Lending Act? Business Combination Agreement and Plan Of Reorganization, dated February 24, 2023 from Oxbridge Acquisition Corp. filed with the Securities and Exchange Commission. 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 . On June 29, Gov. Homestead property is exempted from forced sale to satisfy judgement liens for debts owing to personal loans, CREDIT CARD DEBT, etc. What is the adjusted sale price of the comparable? The land value is 20 percent of the total acquisition cost. 1.1 - 1.4, in response to questions of general public interest. Criminals use this method as a way to obtain a victim's credit card information, identity, or bank account numbers. RESPA disclosures at time of loan or within 3 business days of: Deed is considered voluntary because it's under the owner's control. 2. refinancing of real property or interests in real property A person applies for a mortgage loan from a local credit union. C) Sellers decide they do not want to sell the property and refuse to allow the broker to release buyer's earnest money deposit. deliver the deposit check to the employer by the end of business on Thursday. 3. use of real property or interests as a security for a loan or investment including mortgage-backed securities. Transaction Broker - in a transaction broker relationship the buyer or seller is not responsible for the acts of a licensee (page 58). Effective Age / Total Economic Life x Reproduction Cost New D) notification that the buyer may order an energy-efficiency rating on the building. Business Combination Agreement and Plan Of Reorganization, dated A) The loan officer has three business days to give the loan applicant a copy of the information booklet. 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. The FALSE statement is the a SECTION contains 43,560 sf. An EARNEST MONEY DEPOSIT is desirable to protect the seller, but it's not required to make a contract valid. Telemarketing - Consumer Protection Topic - Alaska What was the approximate yield on the loan? Which statement is TRUE regarding this situation? Within how many days must a licensee notify the Department of Business and Professional Regulation of a change in current mailing address? They have created which type of estate or tenancy? B) The loan applicant can sue the credit union for violating the Fair Housing laws. Which statement is TRUE regarding Florida's telemarketing law? PSA Ann. A comparable property recently sold for $315,000. How much of the $414.94 monthly payment paid in month two will apply to principal? 51,904.64 x .07375 = 3,830.56 / 12 = 319.21 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. The brokerage can work with the buyer, in the same transaction. Tax advantages of owning a home do NOT include A) deduction of hazard insurance expense on a principal residence. The Georgia licensee. Ann. which statement is true regarding the federal telemarketing law? Restrictions on telemarketing to Florida residents are about to get tighter. Ohio Consumer Protection Laws The Ohio Attorney General has enforcement authority over more than 25 consumer protection laws, which are listed below with a brief overview of key protections that consumers have under the laws. 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. 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. Working Advantage - Employee Discounts A lead-based paint disclosure must be given to. The calculated interest rate of an adjustable-rate mortgage is determined by adding which two components? Find the resources you need to understand how consumer protection law impacts your business. Lynn's home phone number is 333-2020. (page 247). 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 applicant has met the requirements to become a licensed broker and is qualified to take the state license exam. Securities registered pursuant to Section 12(g) of the Act: None. Contract to purchase a shopping center (page 58). Need for expert help; 4. which statement is true regarding the federal telemarketing law? Open listing allows the seller to list the property with multiple brokers. A brokerage firm represents a seller as a single agent. B) The buyer and seller have entered into a contract for $225,000. is exempt from the sales associate course; however, she must pass a written Florida-specific real estate law exam. 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. Memo from Chair Lina M. Khan to commission staff and commissioners regarding the vision and priorities for the FTC. A broker is NOT required by law to notify the FREC of conflicting demands in which situation? required by Florida law to verify that license applicants are current on child support payments. tenants and buyers of all residential property built before 1978. Which statement about the economic concept of demand is FALSE? Complying with the Telemarketing Sales Rule - Federal Trade Commission The referring tenants do not hold real estate licensees. After the closing, the licensee discovered that the seller's broker had failed to disclose latent defects. Statutes change, so checking them is always a good idea. 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. Ann. These opinions are issued, pursuant to Rules 1.1 - 1.4 of the Commission's Rules of Practice, 16 C.F.R. 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? Reply 'Help' for help. A. 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. EGI - OPEX = NOI Annual Gross: 450,000 - 350,000 = 100,000 x .03 = $3,000 Facebook Instagram. Which law prohibits racial discrimination in the sale or lease of all real property without exception? I = R x V B) The Department of Veterans Affairs partially guarantees VA mortgage loans. Which statement concerning Department of Veterans Affairs (VA) mortgage loans is FALSE? A commercial tenant pays a fixed rent each month. 6. 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). Personnel engaged in any aspect of telemarketing must be . A) Federally related transactions require an appraisal. Less than $50,000 = $25,000 (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. It does not require the seller, at the seller's expense to conduct and energy efficiency rating of the structure prior to closing. A closing is set for July 15. The seller told her broker that she was revoking the counteroffer and accepting the buyer's original offer. Which statement is TRUE regarding this property? A developer purchased two 145-front foot lots for $23,900 net each and divided them into three lots of equal front footage. 501.601 through 501.626 and Florida's do-not-call law at Fla. Stat. 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. Which statement applies to this situation? The associate continues to be employed by the same broker, who has an office in Atlanta. required by Florida law to verify that license applicants are current on child support payments. Listed here are some FTC laws about specific marketing practices and the promotion of products and services in specific industries. Vacancy and collection losses. The associate must. Civil Rights Act of 1866 prohibits any type of discrimination based on race in any real estate transaction (sale or rental) without exception. Real estate licensees may not represent a CMA as an appraisal. A local lender charged 4 percent interest plus 4 points on a conventional mortgage loan. Servicing disclosure statement. astros vs yankees cheating. (Round answer to nearest dollar. A buyer offered $225,000 for a seller's property. 8 a.m. Nothing in the Florida Telemarketing Act or the Telephonic Sales Law prohibits sending advertisements by fax. A qualified buyer offers to pay the $2,000 down, but the developer states that the $2,000 down homes are all sold. 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. Federally-related transaction includes: What was the approximate yield on the loan? Which request should be made by the broker's attorney so that the broker can continue to work during the appeal process? merrick okamoto net worth Which list of appraisal methods is unique to the appraisal of business enterprises? Brad Dye's Paging Information Resource (PDF) SEC Complaint: Darrel West and Own My Travel, LLC; 2016-12-06 (page 219). An official website of the United States government. D) Limited partners may participate in management activities of the limited partnership. 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 MOST accurately describes the first year of a 30-year level-payment, fixed rate mortgage? 1. 290 x 250 = 72,500 - 47,800 = 24,700 8-K: Oak Street Health, Inc. - MarketWatch 1. The street in front of your house is to be paved at a cost of $45 per foot. The covenant of warranty forever is included in which type of statutory deed? 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. A duplex is scheduled to close on September 10. 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. Which statement is TRUE regarding the key rings? 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? The referring tenants do not hold real estate licensees. 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. False - All VA mortgage loans contain a due on sale clause. A qualified buyer offers to pay the $2,000 down, but the developer states that the $2,000 down homes are all sold. Florida Changes its Telemarketing Laws | Jones Day The TCPA restricts the making of telemarketing calls and the use of automatic telephone dialing systems and artificial or prerecorded voice messages. Stay of Enforcement, if granted, stops the enforcement of a suspension or revocation in the final order pending the outcome of the appeal process. Complaint resolution for homeowner associations is provided by which division of Florida government? What is the adjusted sale price of the comparable? Wattage is the measurement of the amount of energy consumed. Included advantages: Market is local in nature; 3. 50 / 100. Which statement regarding a limited real estate partnership is TRUE? Which characteristic is a disadvantage of investing in real estate? 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 of the following is an accurate statement regarding the Federal Trade Commission (FTC) and the consumer protection laws related to funeral home services? (2) Training of personnel engaged in telemarketing. illegal, because the amount of compensation exceeds the allowable amount. 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. Which type of listing allows the seller to list the property with other brokers? . The licensee was unable to collect on the judgment and is considering submitting a claim to the Real Estate Recovery Fund. How will the property taxes be entered on the closing statement? Real estate licensees may not represent a CMA as an appraisal. The answer is ACCRETION. The total square footage of the livable area is 2,600. Many states also have laws regulating telemarketing. 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. PDF Small Entity Compliance Guide - Federal Communications Commission The associate continues to be employed by the same broker, who has an office in Atlanta. Please note that the following information is for educational purposes only, and additional laws may apply. The rental property has a negative cash flow of $11,000. The contract is contingent on a radon test. Is this transaction covered under Truth in Lending Act? The loan officer has three business days to give the loan applicant a copy of the information booklet. Online Advertising and Marketing. The seller cannot now accept the original offer, because it was killed by the counteroffer. b. Which statement is TRUE regarding the federal telemarketing law? A township has 36 parcels called "sections." You are appraising a four-year-old, single-family residence. A building is valued at $135,000 with an estimated 25-year useful economic life. Which characteristic is a disadvantage of investing in real estate? Which statement is TRUE regarding this situation? A person who rents lots in a mobile home park. 3.5% is the minimum down payment on a FHA loan. End of Pre-License Course Exam Questions - RealEstateExamAnswers.com
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