Part 310: Telemarketing Sales Rule Fees; Final Rule Updating the Fees Charged to Entities Accessing the National Do Not Call Registry, 16 CFR Part 310: Telemarketing Sales Rule: Federal Register Notice Containing Notice of Proposed Rulemaking and Soliciting Public Comment on Proposed Amendments to the Rule, 16 CFR Part 310: Telemarketing Sales Rule: Federal Register Notice Containing Notice of Proposed Rulemaking and Soliciting Public Comment on Proposed Amendments to the Rule - Text Version, 16 CFR Part 310: Telemarketing Sales Rule Fees; Final Rule, 16 C.F.R. The Florida Consumer Protection Law is located at Fla. Stat. 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. RESPA disclosures at time of loan or within 3 business days of: A real estate broker has been hired to manage an apartment complex on behalf of the landlord. required by Florida law to verify that license applicants are current on child support payments. 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. 1st time homebuyers (IRA contribution up to $10K) In an effort to address a growing number of telephone marketing calls, Congress enacted in 1991 the Telephone Consumer Protection Act (TCPA). The first broker to secure a buyer who is ready, willing and able to purchase at the terms of the listing is the PROCURING CAUSE and earns the commission. How must the broker as agent handle the security deposits and advance rent? It amended the Communications Act of 1934.The TCPA is codified as 47 U.S.C. 290 x 250 = 72,500 - 47,800 = 24,700 The street in front of your house is to be paved at a cost of $45 per foot. The sales associate must notify the DBPR in writing within 60 days regarding her change in residency. Index plus Margin equals Calculated Interest Payment on an ARM. Servicing disclosure statement. C) Federally related transactions involve a federally insured financial institution. Yes, because this is an example of bait-and-switch advertising, and it is illegal. 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 Real Estate Commission (FREC) issued a seven-year suspension of a broker's license. which statement is true regarding the federal telemarketing law? The mortgagee's title insurance policy is ISSUED FOR THE AMOUNT OF THE MORTGAGE LOAN AND IS TRANSFERABLE. Three brothers join together to purchase property. Memo from Chair Lina M. Khan to commission staff and commissioners regarding the vision and priorities for the FTC. Which requirement is one of the elements of a valid real estate contract? Lease Agreements longer than 1 year 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). Which item would be classified as a fixed expense in the calculation of net operating income? The mortgagee's title insurance policy is ISSUED FOR THE AMOUNT OF THE MORTGAGE LOAN AND IS TRANSFERABLE. The seller countered at $250,000. 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. Bars telemarketers from intentionally blocking caller identification; Requires telemarketers at the beginning of every sales call to disclose the name of person making the call, as well as the name of the telemarketing company, the name of person or . 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? According to the contract for sale and purchase, the buyer is due the rental income for the day of closing. The assessed value of an 88-year-old legally blind widow's condominium is $49,500. D) The VA can make direct loans to veterans. A developer purchased two 145-front foot lots for $23,900 net each and divided them into three lots of equal front footage. SUBCHAPTER IICOMMON CARRIERS Part ICommon Carrier Regulation 201. Which item would be classified as a fixed expense in the calculation of net operating income? Complaint resolution for homeowner associations is provided by which division of Florida government? 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. What is the total property tax exemption on her homesteaded property? Listed here are some FTC laws about specific marketing practices and the promotion of products and services in specific industries. Property taxes are paid in arrears - so seller has paid no taxes that month. Compared with the subject property, the comparable is built of superior materials ($20,000) and the comparable has more square footage ($25,000). A written contract for sale and purchase of commercial property that used designated sales associates failed to close. This arrangement is, illegal, because the amount of compensation exceeds the allowable amount. Open listing allows the seller to list the property with multiple brokers. Similarly, a brokerage firm working in a no brokerage relationship capacity can work with a buyer. Many of these lawsuits seem outrageously frivolous, while others deal with incredibly serious matters. A broker is NOT required by law to notify the FREC of conflicting demands in which situation? 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? FL law does not require that prospective buyers and seller be represented. Use the actual number of days in the closing month when determining the time line. 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. Which statement is TRUE regarding the federal telemarketing law? If your lot frontage on the street is 90 feet, what is your portion of the special assessment? Complaint resolution for homeowner associations is provided by which division of Florida government? Tenancy in Common (no right of survivor ship, heirs inherit), Remainderman - 3rd party fee simple ownership at end of life estate by wife. The day after signing the sale contract and reviewing the condominium documents, the buyers notify the broker that they want to cancel the contract. Place the funds in an interest-bearing account in a Florida bank and pay the tenant 5 percent interest (separate interest-bearing FL bank account and pay the tenant at least 75% of any annualized average interest rate or 5% per year simple interest. Which statement is TRUE regarding this property? Within how many days must a licensee notify the Department of Business and Professional Regulation of a change in current mailing address? Which type of window is the least energy efficient? Which type of listing allows the seller to list the property with other brokers? The .gov means its official. Criminals use this method as a way to obtain a victim's credit card information, identity, or bank account numbers. Learn more about your rights as a consumer and how to spot and avoid scams. 633.33 debited to seller and credited to buyer. Search the Legal Library instead. 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. 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? 315,000 - 20,000 - 25,000 = 270,000. A real estate broker has been hired to manage an apartment complex on behalf of the landlord. 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. Which business would be classified as a service industry? PGI - V&C = EGI A lease calls for annual minimum rent of $14,500 plus 3 percent of annual gross sales in excess of $350,000. Calculate the developer's percentage of profit (round to nearest whole percentage point). Which law prohibits racial discrimination in the sale or lease of all real property without exception? (page 267). C) The seller has breached the buyer's contract, and the buyer can sue to force the seller to take a lower price. On the first of the month, the seller collected total rent for September amounting to $950. 414.94 - 319.58 = 95.36 Stay of Enforcement, if granted, stops the enforcement of a suspension or revocation in the final order pending the outcome of the appeal process. Licensees must notify the DBPR in writing within 10 days of a change in current mailing address. Which statement regarding a limited real estate partnership is TRUE? astros vs yankees cheating. 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. Ann. An individual who repeatedly writes bad checks can be charged with, Moral Turpitude involves conduct contrary to honest, good morals, accepted custom (i.e. Reply 'Help' for help. In one of the more upsetting high-profile lawsuits, Vanessa Bryant has just reached a final . 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. The broker must retain the disclosure documents for five years even if a nonresidential transaction that used designated sales associates fails to close. (page 362), Jalousie - window is almost impossible to seal; therefore, it's the lease energy efficient. Section 31 would be located in which corner? The street in front of your house is to be paved at a cost of $45 per foot. Vendor's Lien - equitable lien of the grantor (seller under a PMM) on the land conveyed in the amount of the unpaid purchase price, The right of the state to take property of a person who died intestate and without heirs is known as. 32, No.9 -FREEREE Advocate News Online: www.advocatenews.net OCATOCAT www.advocatenews.net Mayor announces he's leaving at end of year City councillors offer praise of Arrigo's tenure By Barbara Taormina M ayor Brian Arrigo jolted the city this week when he announced he will be stepping down from the Mayor's Office at the end of this term. A lead-based paint disclosure must be given to. 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. What is the final step in the real estate sale process? 1.1 - 1.4, in response to questions of general public interest. She requests a Florida sales associate license based on mutual recognition. Base: 14,500 Central Asia. Residential leases are usually gross leases. Is this transaction covered under Truth in Lending Act? C) The loan officer can be fined by the Department of Housing and Urban Development (HUD). D) Buyer finds another property at a lower price and demands a refund of the earnest money deposit. According to the contract for sale and purchase, the buyer is due the rental income for the day of closing. A lease calls for annual minimum rent of $14,500 plus 3 percent of annual gross sales in excess of $350,000. 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 developer advertises homes for sale with a total down payment of $2,000. (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. tenants and buyers of all residential property built before 1978. I = R x V NOI = Cap Rate x Value (sale price) A closing is set for July 15. 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. The Federal Communications Commission (FCC) enforces the Telephone Consumer Protection Act (TCPA), which also regulates telemarketing. 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. NOI and Sale Price. Claim against the RE Recovery Fund is for a result of license law violations by a licensee ($50k per transaction and mo more than $150K against on licensee involved in mult transactions) the others are remedies for a breach in contract. How will the property taxes be entered on the closing statement? The licensee was unable to collect on the judgment and is considering submitting a claim to the Real Estate Recovery Fund. 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? Section 31 would be located in which corner? The Telephone Consumer Protection Act (TCPA) was passed in 1991 in response to consumer complaints of increased marketing calls and automated, pre-recorded messages. For more information about the TCPA, contact the FCC at fcc.gov. What is the annual IRS depreciation deduction? A person who rents lots in a mobile home park. Call Us Today! B) Interest payments remain constant while principal payments increase. Contract to purchase a shopping center (page 58). 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. 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. A local lender charged 4 percent interest plus 4 points on a conventional mortgage loan. It's one mile square of 640 acres. Florida's telemarketing law became invalid when federal telemarketing laws were implemented. Which statement is TRUE regarding comparative market analyses (CMAs)? TILA/Reg Z makes "Bait and Switch" advertising a federal offense. The RE licensee is not eligible to make a claim against the Real Estate Recovery Fund. The constitutional homestead law protects real property from forced sale to satisfy which type of delinquent debt? This arrangement is. 50 / 100. Which statement MOST accurately describes the first year of a 30-year level-payment, fixed rate mortgage? A) Claim against the Real Estate Recovery Fund B) Suit for compensatory damages C) Suit for specific performance D) Provision for liquidated damages, Claim against the RE Recovery Fund is for a result of license law violations by a licensee ($50k per transaction and mo more than $150K against on licensee involved in mult transactions, PAGE 129). 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 extensible markup language (XML) is a markup language promoted by the World Wide Web consortium (W3C). 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. A qualified buyer offers to pay the $2,000 down, but the developer states that the $2,000 down homes are all sold. Mortgage origination fees (points) 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 garage is 485 square feet. 8 a.m. 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. Calculate the reproduction cost new of the structure. applicable regarding financial, home, travel, health, and insurance products and services. 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

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