A person who rents lots in a mobile home park. Which statement is TRUE regarding Florida's telemarketing law? The seller countered at $250,000. Which statement regarding a limited real estate partnership is TRUE? How much is the minimum cash investment on an FHA loan? The street in front of your house is to be paved at a cost of $45 per foot. The lender's policy protects the lender against title defects. applicable regarding financial, home, travel, health, and insurance products and services. (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. Prevention Methods - Identity Crimes - Center for Identity Management The mortgagee's title insurance policy is ISSUED FOR THE AMOUNT OF THE MORTGAGE LOAN AND IS TRANSFERABLE. Recording it in the public records shows that the mortgage lien has been removed. The developer sold the lots for $250 per front foot. 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)? Which amendment to the Florida constitution limits how much the assessed value of homesteaded property can increase in a given year? B) It is in the licensee's best interest not to request reimbursement from the fund, because the licensee's license would be suspended. A buyer offered $225,000 for a seller's property. 24,700 / 47,800 = 52% profit. Lynn is preparing a classified ad for a listed property. The seller told her broker that she was revoking the counteroffer and accepting the buyer's original offer. Which request should be made by the broker's attorney so that the broker can continue to work during the appeal process? Effective Age / Total Economic Life x Reproduction Cost New The brothers want their interest in the property to go to their spouses in the event of their deaths. Standard Message & data rates may apply. Which business would be classified as a service industry? b. Which entity is a guarantor of mortgage-back securities? 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. Total = 14,500 + 3,000 = $17,500. A lease calls for annual minimum rent of $14,500 plus 3 percent of annual gross sales in excess of $350,000. D) The real estate licensee is not eligible to make a claim against the Real Estate Recovery Fund. A written contract for sale and purchase of commercial property that used designated sales associates failed to close. (EDGAR Online via COMTEX) -- false 0001564406 0001564406 2023-02-08 2023-02-08 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM. 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. Tenancy in Common (no right of survivor ship, heirs inherit), Remainderman - 3rd party fee simple ownership at end of life estate by wife. Yes, because this is an example of bait-and-switch advertising, and it is illegal. Which statement is TRUE regarding the key rings? A complaint legally sufficient if it contains facts indicating that a violation of any of the following has occurred. Accretion is the process of land buildup from water-borne rock, sand, and soil. Which statement is FALSE concerning federally related transactions? 3. A) The seller can revoke her counteroffer and accept the buyer's original offer up until the time the buyer rejects the counteroffer. 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. 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. Call Lynn Amherst, Excel Realty 333-2020 (cell). writing bad checks, crimes of larceny). Service and charges (a) It shall be the duty of every common carrier engaged in interstate or foreign com Florida's telemarketing law became invalid when federal telemarketing laws were implemented. All national chartered commercial banks are members of which entity? D) Principal payments remain constant while interest payments increase. Index plus Margin equals Calculated Interest Payment on an ARM, Ginnie Mae (GNMA) serves as a guarantor of mortgage-backed securities. The Federal Communications Commission (FCC) enforces the Telephone Consumer Protection Act (TCPA), which also regulates telemarketing. 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. A) Federally related transactions require an appraisal. Which list of appraisal methods is unique to the appraisal of business enterprises? Need for expert help; 4. Search the Legal Library instead. Annual Gross: 450,000 - 350,000 = 100,000 x .03 = $3,000 A closing is set for July 15. The contract is contingent on a radon test. The contract is contingent on a radon test. 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) 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. The brokerage can work with the buyer, in the same transaction. A developer advertises homes for sale with a total down payment of $2,000. EngageSmart, Inc. (Form: 10-K, Received: 03/03/2022 16:58:53) On the first of the month, the seller collected total rent for September amounting to $950. A buyer offered $225,000 for a seller's property. A comparable property recently sold for $315,000. Williams v. The PISA Group DNC Lawsuit Update 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 . 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. A building is valued at $135,000 with an estimated 25-year useful economic life. An individual who repeatedly writes bad checks can be charged with, Moral Turpitude involves conduct contrary to honest, good morals, accepted custom (i.e. D) notification that the buyer may order an energy-efficiency rating on the building. Within how many days must a licensee notify the Department of Business and Professional Regulation of a change in current mailing address? The answer is ACCRETION. Complying with the Telemarketing Sales Rule - Federal Trade Commission Lynn is preparing a classified ad for a listed property. Homestead protection does not prevent foreclosure for nonpayment of property taxes, special assessments, mortgages, vendors' liens, or construction liens secured with homestead property. What is the annual rent for the year if the annual gross sales are $450,000? Which type of window is the least energy efficient? Florida's "Mini-TCPA" May Be More Broad and More Severe Than Its 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? c. There are no federal laws that regulate This problem has been solved! The law is enforced by the Office of the Attorney General. 2. refinancing of real property or interests in real property XML overcomes the limitations of hypertext markup language (HTML) and represents an important opportunity to solve the problem of protecting information distributed on the Web, with the definition of access restrictions directly on the structure and content of the document. The Georgia licensee. C) deduction of interest paid on the mortgage. Which of the following is an accurate statement regarding the Federal Trade Commission (FTC) and the consumer protection laws related to funeral home services? What is the annual IRS depreciation deduction? 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. Which statement is TRUE regarding a title company holding the escrow funds? Connected Investors robocalls $2M class action settlement Savings associations can sell existing mortgage loans to which entity? This arrangement is. 45 x 90 x .75 = $3,037.50 / 2 = $1,518.75, A professional office center is purchased for $475,000. Good Faith Estimate (GFE) Which characteristic is a disadvantage of investing in real estate? Referred to as Florida's "Mini-TCPA," this new law, CS/SB 1120, updates the Florida Consumer Protection Law and the Florida Telemarketing Act. If your lot frontage on the street is 90 feet, what is your portion of the special assessment? B) Every general partner in a limited real estate partnership who performs real estate services must hold a real estate broker license. (page 99), Moral Turpitude involves conduct contrary to honest, good morals, accepted custom (i.e. Licensees must notify the DBPR in writing within 10 days of a change in current mailing address. Which excerpt conforms to the rule regarding advertising? Telemarketing Laws - FindLaw Five-Star Reviews Enforcement Regulations from the FTC allows a sales associate or broker associate employed by an owner-developer to sell property for all the affiliated entities owned by the developer. A lease calls for annual minimum rent of $14,500 plus 3 percent of annual gross sales in excess of $350,000. 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. (Pdf) Southern District of Florida Federal Trade Commission, Southern The building has an effective age of five years. Which type of depreciation is associated with inefficient architectural design? The street in front of your house is to be paved at a cost of $45 per foot. The Internet connects marketers to customers across the country and around the world. I = R x V An apartment building produces an effective annual gross income of $71,820. For more information about the TCPA, contact the FCC at fcc.gov. Which characteristic is a disadvantage of investing in real estate? Which law prohibits racial discrimination in the sale or lease of all real property without exception? Since seller hasn't received the money, it's not shown on the seller's statement. merrick okamoto net worth Florida Expands Telemarketing Laws - The National Law Review UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF FLORIDA FEDERAL TRADE COMMISSION, Plaintiff, V. JUSTIN RAMSEY, individually and as an officer of Data Guru LLC, Tailbone Security LLC, and Prime Marketing LLC, BRIAN OFFNER, individually and as an officer of Data Guru LLC, Tailbone Security LLC, and Leading Apex LLC, CHRISTOPHER HERGHELEGIU, individually and as an officer of Data Guru LLC and . 6. Which statement is TRUE regarding this situation? Which statement is TRUE regarding the federal telemarketing law? RESPA disclosures at time of loan or within 3 business days of: Division of Florida Condominiums, Timeshares, and Mobile Homes is charged with providing complaint resolution for HOAs. The garage is 485 square feet. Which statement MOST accurately describes the first year of a 30-year level-payment, fixed rate mortgage? 47 Usc Chapter 5, Subchapter Ii: Common Carriers A licensee may not earn credit for attending a FREC meeting if the licensee is on the legal agenda for disciplinary action. Many states also have laws regulating telemarketing. 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. Which request should be made by the broker's attorney so that the broker can continue to work during the appeal process? Which statement concerning sections is FALSE? Which individual is exempt from licensure under Florida Statute 475? Residential leases are usually gross leases. The brokerage relationship disclosure requirements in Chapter 475, Florida Statutes, do NOT apply to which transaction? A brokerage firm represents a seller as a single agent. Management; 5. 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. Final Exam Prep Flashcards | Quizlet Deeds and Mortgage Instruments The company's phone number is 222-1010. D) Credit unions are exempt from the Real Estate Settlement Procedures Act. Open All + A real estate licensee purchased a home from the seller. A written contract for sale and purchase of commercial property that used designated sales associates failed to close. They have created which type of estate or tenancy? A developer advertises homes for sale with a total down payment of $2,000. 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. Which law prohibits racial discrimination in the sale or lease of all real property without exception? 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? B) exclusion of gain from the sale of a principal residence up to $500,000 if married and filing a joint return. 30 Days - if landlord is making a claim on the deposit, the landlord has 30 days to notify the tenant of the claim. A sales associate moves from Jacksonville, Florida, to Atlanta, Georgia. You can submit your application to register your company with Working Advantage to get your employees access to a wide variety of everyday savings: home office supplies, streaming services, food delivery, educational programs, automotive, gifts, health and wellness, plus the top offers in travel and entertainment. 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. (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. A person applies for a mortgage loan from a local credit union. 51,904.64 x .07375 = 3,830.56 / 12 = 319.21 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. The RE licensee is not eligible to make a claim against the Real Estate Recovery Fund. Similarly, a brokerage firm working in a no brokerage relationship capacity can work with a buyer. (page 176). which statement is true regarding the federal telemarketing law? Code of Federal Regulations: Restrictions on Telemarketing and A real estate broker has been hired to manage an apartment complex on behalf of the landlord. How much is the minimum cash investment on an FHA loan? Reply 'STOP' to unsubscribe from SMS service. All national chartered commercial banks are members of which entity? A developer purchased two 145-front foot lots for $23,900 net each and divided them into three lots of equal front footage. The buyer did not accept the seller's counteroffer. Better 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. Includes: Which statement is TRUE regarding this situation? An apartment building produces an effective annual gross income of $71,820. 1. Which expense is deducted to derive effective gross income? deliver the deposit check to the employer by the end of business on Thursday. (page 247). The overall capitalization rate (OAR) is determined by analyzing which two components of similar properties in the subject property's market area? Business Combination Agreement and Plan Of Reorganization, dated 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. Stay of Enforcement, if granted, stops the enforcement of a suspension or revocation in the final order pending the outcome of the appeal process. The landlord pays the property taxes, hazard insurance, and maintenance expenses. It does not require the seller, at the seller's expense to conduct and energy efficiency rating of the structure prior to closing. The Telephone Consumer Protection Act (TCPA) is the primary federal law governing the regulation of telephone solicitations. is exempt from the sales associate course; however, she must pass a written Florida-specific real estate law exam. Funeral homes may not require customers to buy certain funeral goods and services as a condition for receiving other funeral goods and services. $276,060 total. 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. The total square footage of the livable area is 2,600. According to the contract for sale and purchase, the buyer is due the rental income for the day of closing. Also, created a uniform statewide rating system for rating new and existing residential, commercial and public buildings. 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). Main Menu 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. . Florida Restrictions on Telemarketers | Nolo Recording it in the public records shows that the mortgage lien has been removed. The seller countered at $250,000. End of Pre-License Course Exam Questions - RealEstateExamAnswers.com Remainderman - 3rd party fee simple ownership at end of life estate by wife. Telemarketing | Federal Trade Commission On the first of the month, the seller collected total rent for September amounting to $950. Section 31 would be located in which corner? Lease Agreements longer than 1 year Jalousie - window is almost impossible to seal; therefore, it's the lease energy efficient. The following is a robust set of proactive and reactive rules to fraud-proof and protect your good name. Calculate the reproduction cost new of the structure. Which statement concerning Department of Veterans Affairs (VA) mortgage loans is FALSE? Find the resources you need to understand how consumer protection law impacts your business. It was first signed into law by President George H.W. content.edgar-online.com The land value is 20 percent of the total acquisition cost. How must the broker as agent handle the security deposits and advance rent? Business Combination Agreement and Plan Of Reorganization, dated February 24, 2023 from Oxbridge Acquisition Corp. filed with the Securities and Exchange Commission. 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? Which item would be classified as a fixed expense in the calculation of net operating income? Which statement is TRUE regarding this situation? C. The applicant must apply for a broker license under mutual recognition. (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.
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