Which statement concerning Department of Veterans Affairs (VA) mortgage loans is FALSE? How many members of the Florida Real Estate Commission must be consumer members who have never been real estate brokers or sales associates? (no more than $50 to an unlicensed person who is a tenant of the apartment complex for the referral fee - page 95). A) Limited partners must register with the FREC under the limited partnership name. Management considerations is one of the disadvantages of investing in RE. In 1991, Congress adopted the Telephone Consumer Protection Act (TCPA) to restrict the use of automatic telephone dialing systems and artificial or prerecorded voice messages (robocalls). This arrangement is, illegal, because the amount of compensation exceeds the allowable amount. U.S.C. Title 18 - CRIMES AND CRIMINAL PROCEDURE 501.601 through 501.626 and Florida's do-not-call law at Fla. Stat. 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. What was the approximate yield on the loan? 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. It was first signed into law by President George H.W. A licensee may not earn credit for attending a FREC meeting if the licensee is on the legal agenda for disciplinary action. The Florida Real Estate Commission (FREC) issued a seven-year suspension of a broker's license. Total is 60 Acres. A building is valued at $135,000 with an estimated 25-year useful economic life. 5 /25 x 135,000 = 27,000 accrued depreciation. All national chartered commercial banks are members of which entity? Which statement is FALSE concerning federally related transactions? What is the total property tax exemption on her homesteaded property? Interest on Home Equity 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. The broker decides to appeal FREC's final order. Similarly, a brokerage firm working in a no brokerage relationship capacity can work with a buyer. Which of the following statements about consumer protection laws is true? 71,820 - 36,990 = 34,840 NOI 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 proposed guideline revisions would state that "in procuring, suppressing, boosting, organizing, or editing consumer reviews of their products, advertisers should not take actions that have the. She requests a Florida sales associate license based on mutual recognition. D) The VA can make direct loans to veterans. And some rules can even vary within a state. Which statement is TRUE regarding Florida's telemarketing law? PDF Small Entity Compliance Guide - Federal Communications Commission A real estate licensee purchased a home from the seller. Annual Gross: 450,000 - 350,000 = 100,000 x .03 = $3,000 C) deduction of interest paid on the mortgage. "Work surface" Relying on an embodiment disclosed in the specification, the defendant contended that the scope of "work surface . The associate must, An owner of an apartment complex pays $100 to each tenant who refers a person who becomes a tenant. (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. The calculated interest rate of an adjustable-rate mortgage is determined by adding which two components? An agreement in which only one party promises to perform without receiving a reciprocal promise to perform from the other party is called a Unilateral contract The period of time during which the terms of a contract may be enforced according to the statute of limitations are Five years for written contracts and four years for parol contacts. (2) Training of personnel engaged in telemarketing. 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. Open listing allows the seller to list the property with multiple brokers. A township has 36 parcels called "sections." A real estate broker has been hired to manage an apartment complex on behalf of the landlord. Telemarketing | Federal Trade Commission The buyer did not accept the seller's counteroffer. 501.059. 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. C) 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. Municipal Airport - immune properties are city, county, state and federal gov't properties - others are exempt only, which are subject to taxes, but are released from obligation, Local government can recover the cost of widening a street in an existing neighborhood by charging the neighborhood property owners a. Wattage is the measurement of the amount of energy consumed. which statement is true regarding the federal telemarketing law? 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. Recording it in the public records shows that the mortgage lien has been removed. An EARNEST MONEY DEPOSIT is desirable to protect the seller, but it's not required to make a contract valid. The city has agreed to pay 25 percent of the paving cost and will assess abutting properties for the remainder. Companies also need to be familiar with rules banning most forms of robocalling. Is the broker required to retain the brokerage relationship disclosure documents, and if so, for how long? A written contract for sale and purchase of commercial property that used designated sales associates failed to close. Final Exam Flashcards | Chegg.com A Georgia real estate licensee moved to Miami five months ago. Azure Exam Prep Questions Flashcards | Quizlet United States: D. Mass. Patent Litigation Update: January 2023 B) Every general partner in a limited real estate partnership who performs real estate services must hold a real estate broker license. Real estate licensees may contact their former customers for up to 18 months. 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. The covenant of warranty forever is included in which type of statutory deed? B) The Department of Veterans Affairs partially guarantees VA mortgage loans. The purpose of the Do Not Call registry is to give consumers a choice regarding telemarketing calls. 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. A closing is set for July 15. Which solution is NOT a remedy for the breach of a real estate sale contract? A broker is NOT required by law to notify the FREC of conflicting demands in which situation? 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. Special Information Booklet (HUD) (Round answer to nearest dollar. 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. C) Limited partners are personally liable for the debts of the partnership. Which statement applies to this situation? Open listing allows the seller to list the property with multiple brokers. Within how many days must a licensee notify the Department of Business and Professional Regulation of a change in current mailing address? illegal, because the amount of compensation exceeds the allowable amount. The seller is still owed the entire amount of the purchase price. A township has 36 parcels called "sections." (EDGAR Online via COMTEX) -- false 0001564406 0001564406 2023-02-08 2023-02-08 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM. In an effort to address a growing number of telephone marketing calls, Congress enacted in 1991 the Telephone Consumer Protection Act (TCPA). 640/4/4/2 = 20 Open All + Persons or entities making calls for telemarketing purposes must have a written policy, available upon demand, for maintaining a do-not-call list. which statement is true regarding the federal telemarketing law? The seller countered at $250,000. Which statement regarding a limited real estate partnership is TRUE? 51,904.64 x .07375 = 3,830.56 / 12 = 319.21 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. Central Asia. Featuring infinite contrast ratio and VESA Display HDR True Back 400 for remarkably vivid colors and visuals bursting to life. Many of these lawsuits seem outrageously frivolous, while others deal with incredibly serious matters. The city has agreed to pay 25 percent of the paving cost and will assess abutting properties for the remainder. 20-cv-10857, Judge Burroughs construed two disputed terms in a patent relating to a method of aligning a laser projector for projecting a laser image onto a work surface.. 1. Since seller hasn't received the money, it's not shown on the seller's statement. Nothing in the Florida Telemarketing Act or the Telephonic Sales Law prohibits sending advertisements by fax. Bush in 1991 and has remained the bedrock of federal telemarketing regulations ever since. Which type of window is the least energy efficient? The sales associate must notify the DBPR in writing within 60 days regarding her change in residency. A buyer and seller enter into a contract for sale and purchase of a home. A Poisson distribution might be a good approximation for which of the following? FL law does not require that prospective buyers and seller be represented. Telemarketing - Florida Commissioner of Agriculture The tenant has what type of lease? 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 land value is 20 percent of the total acquisition cost. A person applies for a mortgage loan from a local credit union. 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. The landlord pays the property taxes, hazard insurance, and maintenance expenses. Which expense is deducted to derive effective gross income? The loan officer has three business days to give the loan applicant a copy of the information booklet. 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. Call Lynn Amherst, Excel Realty 333-2020 (cell). 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), The lender's policy protects the lender against title defects. (page 247). (Pdf) Southern District of Florida Federal Trade Commission, Southern (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 this practice? Functional Obsolescence - operational inadequacies, poor design, or changing tastes and preferences. How much of the $414.94 monthly payment paid in month two will apply to principal? 0. 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 Telemarketing Sales Rule | Federal Trade Commission 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 earnest money deposit normally appears on the closing statement as a. Code of Federal Regulations: Restrictions on Telemarketing and 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 real estate broker has been hired to manage an apartment complex on behalf of the landlord. (PDF) American Ways American Ways A Guide for Foreigners in the United 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. Better Seller refuses to sign the release of escrow funds. Use the actual number of days in the closing month when determining the time line. Which request should be made by the broker's attorney so that the broker can continue to work during the appeal process? (page 176). The FTC's Telemarketing Sales Rule helps protect consumers from fraudulent telemarketing calls and gives them certain protections under the National Do Not Call Registry. (page 91). Lynn's home phone number is 333-2020. Since seller hasn't received the money, it's not shown on the seller's statement. statement is TRUE. On June 29, - stradanove.net A qualified buyer offers to pay the $2,000 down, but the developer states that the $2,000 down homes are all sold. content.edgar-online.com Telemarketing also includes sales solicitations via fax, the Internet and mail, if the consumer is encouraged to respond via the telephone, fax . (page 364), Liquidation analysis, reproduction cost analysis, and income capitalization analysis (and comparable sales analysis), Management considerations is one of the disadvantages of investing in RE. An EARNEST MONEY DEPOSIT is desirable to protect the seller, but it's not required to make a contract valid. Arizona Telemarketing Fraud Laws - FindLaw Which law prohibits racial discrimination in the sale or lease of all real property without exception? The broker decides to appeal FREC's final order. Which law prohibits racial discrimination in the sale or lease of all real property without exception? The assessed value of an 88-year-old legally blind widow's condominium is $49,500. The lender's policy protects the lender against title defects. We work to advance government policies that protect consumers and promote competition. 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. Calculate the proration and indicate who is debited and who is credited. 1. transactions for the sale, lease or purchase of RE 50 / 100. Which requirement is one of the elements of a valid real estate contract? Advertising and Marketing | Federal Trade Commission Connected Investors robocalls $2M class action settlement