According to the contract for sale and purchase, the buyer is due the rental income for the day of closing. The broker decides to appeal FREC's final order. What is the TCPA? - Contact Center Compliance C) deduction of interest paid on the mortgage. The Telephone Consumer Protection Act (TCPA) was passed in 1991 in response to consumer complaints of increased marketing calls and automated, pre-recorded messages. 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. These presidential actions can include executive orders, presidential memoranda, and proclamations. C) Principal comprises the majority of the payments. 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. (PAGE 190), Which statement concerning sections is FALSE? Range 1 West is located immediately west of the principal meridian and base line. 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 qualified buyer offers to pay the $2,000 down, but the developer states that the $2,000 down homes are all sold. B) The buyer and seller have entered into a contract for $225,000. Mortgage interest The seller cannot now accept the original offer, because it was killed by the counteroffer. Index plus Margin equals Calculated Interest Payment on an ARM. Which document must be given to prospective purchasers only if purchasing a condo from a developer of 20 or more new residential condominium units? deliver the deposit check to the employer by the end of business on Thursday. (2) Training of personnel engaged in telemarketing. The landlord pays the property taxes, hazard insurance, and maintenance expenses. 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. C) Federally related transactions involve a federally insured financial institution. Which statement is FALSE concerning federally related transactions? ahhhhhhh I wannnnnnaaaaaa slllleeeeeeeppppp - Chegg In 1992, the Commission adopted rules to implement the TCPA. Complaint resolution for homeowner associations is provided by which division of Florida government? D) Real estate licensees are exempt from the telemarketing laws. A brokerage firm represents a seller as a single agent. The building has an effective age of five years. which statement is true regarding the federal telemarketing law? How much is the minimum cash investment on an FHA loan? Which excerpt conforms to the rule regarding advertising? 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. Search the Legal Library instead. Is this transaction covered under Truth in Lending Act? PDF United States District Court District of Massachusetts A developer purchased two 145-front foot lots for $23,900 net each and divided them into three lots of equal front footage. A duplex is scheduled to close on September 10. It does not require the seller, at the seller's expense to conduct and energy efficiency rating of the structure prior to closing. To protect themselves catalog marketers should ask writing bad checks, crimes of larceny). tenants and buyers of all residential property built before 1978. D) The VA can make direct loans to veterans. Vendor's Lien - equitable lien of the grantor (seller under a PMM) on the land conveyed in the amount of the unpaid purchase price. 950 / 30 = 31.67 x 20 = $633.33 The Florida Real Estate Commission (FREC) issued a seven-year suspension of a broker's license. The telemarketing class action lawsuit accuses Connected Investors of violating the TCPA with unsolicited prerecorded voice message advertisements. . Azure Exam Prep Questions Flashcards | Quizlet 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. (no more than $50 to an unlicensed person who is a tenant of the apartment complex for the referral fee. 3. How many members of the Florida Real Estate Commission must be consumer members who have never been real estate brokers or sales associates? A duplex is scheduled to close on September 10. Which lien is classified as a voluntary lien? 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. Which statement is TRUE regarding this situation? Five-Star Reviews Enforcement Regulations from the FTC Branch office of a bank is a service industry that services primarily local residents. FL law does not require that prospective buyers and seller be represented. Savings associations can sell existing mortgage loans to which entity? Risk. Only 2 members must be consumer members who have never been brokers or sales associates. 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. 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. Which item would be classified as a fixed expense in the calculation of net operating income? Listing Agreements for a term longer than 1 year. In practice, the state list is integrated with the national do-not-call list maintained by the Federal Trade Commission (FTC). Lynn's home phone number is 333-2020. Distinguish between FASB Accounting Standards Updates and FASB Statements of Financial Accounting Concepts. 1. The seller countered at $250,000. A) Monthly payments remain constant, and the interest portion comprises the majority of the 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. How will the property taxes be entered on the closing statement? The developer sold the lots for $250 per front foot. The broker must retain the disclosure documents for five years even if a nonresidential transaction that used designated sales associates fails to close. B) exclusion of gain from the sale of a principal residence up to $500,000 if married and filing a joint return. A Georgia real estate licensee moved to Miami five months ago. The covenant of warranty forever is included in which type of statutory deed? Which statement is TRUE regarding this situation? Federally related transactions do not include transactions associated with refinancing real property. Lynn's home phone number is 333-2020. Which statement is TRUE regarding comparative market analyses (CMAs)? Federal government websites often end in .gov or .mil. 5. A lead-based paint disclosure must be given to. which statement is true regarding the federal telemarketing law? 51,904.64 x .07375 = 3,830.56 / 12 = 319.21 The associate continues to be employed by the same broker, who has an office in Atlanta. How many members of the Florida Real Estate Commission must be consumer members who have never been real estate brokers or sales associates? Compared with the subject property, the comparable is built of superior materials ($20,000) and the comparable has more square footage ($25,000). Which list of appraisal methods is unique to the appraisal of business enterprises? 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. In an effort to address a growing number of telephone marketing calls, Congress enacted in 1991 the Telephone Consumer Protection Act (TCPA). U.S.C. Title 18 - CRIMES AND CRIMINAL PROCEDURE When a loan is paid off in a lien theory state, which instrument should the lender prepare and give to the borrower? The city has agreed to pay 25 percent of the paving cost and will assess abutting properties for the remainder. Federal Register :: Telemarketing Sales Rule Division of Florida Condominiums, Timeshares, and Mobile Homes is charged with providing complaint resolution for HOAs. On June 29, Gov. A comparable property recently sold for $315,000. What is the final step in the real estate sale process? If you advertise online, remember the rules and guidelines that protect consumers also help businesses by maintaining the credibility of the Internet as a marketing medium. 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)? A buyer offered $225,000 for a seller's property. The Federal Communications Commission (FCC) enforces the Telephone Consumer Protection Act (TCPA), which also regulates telemarketing. 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. Division of Florida Condominiums, Timeshares, and Mobile Homes is charged with providing complaint resolution for HOAs. Find the resources you need to understand how consumer protection law impacts your business. 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. 290 x 250 = 72,500 - 47,800 = 24,700 statement is TRUE. On June 29, - stradanove.net 640/4/4 = 40 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? Real estate licensees may not represent a CMA as an appraisal. The .gov means its official. 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. The contract is contingent on a radon test. The street in front of your house is to be paved at a cost of $45 per foot. What is the total property tax exemption on her homesteaded property? Persons or entities making calls for telemarketing purposes must have a written policy, available upon demand, for maintaining a do-not-call list. Recording it in the public records shows that the mortgage lien has been removed. 71,820 - 36,990 = 34,840 NOI 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). This arrangement is. Informacin detallada del sitio web y la empresa: salvarani.com, +39522969177 SALVARANI | Agricultural spraying, components 12-24 Volt, compressors, test and calibration equipment, Componenti agricultura, compressori, calibratura e regolazione macchine irroratrici We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. 501.059. If your lot frontage on the street is 90 feet, what is your portion of the special assessment? ($500 fine if not notified correctly). A developer advertises homes for sale with a total down payment of $2,000. www.sec.gov Telemarketing also includes sales solicitations via fax, the Internet and mail, if the consumer is encouraged to respond via the telephone, fax . CBS vs. CIA An apartment building produces an effective annual gross income of $71,820. D) penalty-free withdrawal from an IRA if the money is used as a down payment on a personal residence (first time home buyers only). 1. transactions for the sale, lease or purchase of RE Total is 60 Acres. (page 169), The answer is ACCRETION. (page 398), 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 (page 395). A real estate licensee purchased a home from the seller. A) The seller can revoke her counteroffer and accept the buyer's original offer up until the time the buyer rejects the counteroffer. The seller told her broker that she was revoking the counteroffer and accepting the buyer's original offer. 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. Servicing disclosure statement. 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. A local lender charged 4 percent interest plus 4 points on a conventional mortgage loan. Standard Message & data rates may apply. 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. Many states also have laws regulating telemarketing. Which type of depreciation is associated with inefficient architectural design? A buyer has applied for a 20-year mortgage of $52,000 at 7 3/8 percent interest. Monthly payments remain constant, and the interest portion comprises the majority of the payments. TILA/Reg Z makes "Bait and Switch" advertising a federal offense. Deed is the written instrument to convey an interest in real property. A broker is NOT required by law to notify the FREC of conflicting demands in which situation? The constitutional homestead law protects real property from forced sale to satisfy which type of delinquent debt? The RE licensee is not eligible to make a claim against the Real Estate Recovery Fund. Why do many second-generation Korean-American mothers, who often have negative memories of growing up under strict, intensive, achievement-oriented "tiger mothering"a term popularized by Amy Chua's bestselling Battle Hymn of the Tiger Mother (Chua 2011)reproduce certain aspects of this parenting style in raising their own children? Jalousie - window is almost impossible to seal; therefore, it's the lease energy efficient. False - All VA mortgage loans contain a due on sale clause (page 265), 3.5% is the minimum down payment on a FHA loan. 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. Section 31 would be located in which corner? The land value is 20 percent of the total acquisition cost. Florida's "Mini-TCPA" May Be More Broad and More Severe Than Its 640/4/4/2 = 20 The seller is still owed the entire amount of the purchase price. C) All VA mortgage loans contain a due on sale clause. Before sharing sensitive information, make sure youre on a federal government site. what is edgar xbrl validation errors and warnings. A broker is NOT required by law to notify the FREC of conflicting demands in which situation? Which of the following is an accurate statement regarding the Federal Trade Commission (FTC) and the consumer protection laws related to funeral home services? C) The seller has breached the buyer's contract, and the buyer can sue to force the seller to take a lower price. The garage is 485 square feet. Calculate the reproduction cost new of the structure. Which document must a prospective buyer of an existing (resale) condominium unit receive? Deed is considered voluntary because it's under the owner's control. croatia vs bulgaria prediction; he said she said wedding game; C. The applicant must apply for a broker license under mutual recognition. Which law prohibits racial discrimination in the sale or lease of all real property without exception? C) The loan officer can be fined by the Department of Housing and Urban Development (HUD). The total square footage of the livable area is 2,600. Telemarketing | Federal Trade Commission The sales associate must notify the DBPR in writing within 60 days regarding her change in residency. 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. Homestead property is exempted from forced sale to satisfy judgement liens for debts owing to personal loans, CREDIT CARD DEBT, etc. Which statement is TRUE regarding this situation? On the first of the month, the seller collected total rent for September amounting to $950. (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. Solved I need help with any or all of these questions. Thank | Chegg.com Which characteristic is a disadvantage of investing in real estate? 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 A Georgia real estate licensee moved to Miami five months ago. D) notification that the buyer may order an energy-efficiency rating on the building. Many of these lawsuits seem outrageously frivolous, while others deal with incredibly serious matters. Which statement is TRUE regarding this situation? Limited partners must register with the FREC under the limited partnership name. A) Demand is the desire and ability to purchase or lease goods and services B) Consumer preferences influence demand C) Changes in price cause an inverse change in demand D) The availability of building materials influences demand, The AVAILABILITY OF BUILDING MATERIALS INFLUENCES DEMAND is FALSE - has to do with supply (page 415), Implement the comprehensive plan (page 427), Branch office of a bank is a service industry that services primarily local residents (page 425), Effective Age / Total Economic Life x Reproduction Cost New, 45 x 90 x .75 = $3,037.50 / 2 = $1,518.75, A professional office center is purchased for $475,000. B) Every general partner in a limited real estate partnership who performs real estate services must hold a real estate broker license. $52,000 x .07375 = 3,835 / 12 = 319.58 An individual who repeatedly writes bad checks can be charged with, Moral Turpitude involves conduct contrary to honest, good morals, accepted custom (i.e. You are appraising a four-year-old, single-family residence. The seller refuses to sign a release of the buyer's earnest money deposit and demands receipt of the deposit for himself. The TCPA restricts the making of telemarketing calls and the use of automatic telephone dialing systems and artificial or prerecorded voice messages. 52,000 - 95.36 = 51,904.64 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. The lender's policy protects the lender against title defects. A licensee may not earn credit for attending a FREC meeting if the licensee is on the legal agenda for disciplinary action. Which statement is TRUE regarding a title company holding the escrow funds? Management considerations is one of the disadvantages of investing in RE. allows a sales associate or broker associate employed by an owner-developer to sell property for all the affiliated entities owned by the developer. 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. You are appraising a four-year-old, single-family residence. 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 . A Poisson distribution might be a good approximation for which of the following? (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. Which statement is TRUE regarding the federal telemarketing law? Which brokerage relationship is BEST suited to this couple? Effective Age / Total Economic Life x Reproduction Cost New Which solution is NOT a remedy for the breach of a real estate sale contract? D) Credit unions are exempt from the Real Estate Settlement Procedures Act. Which statement MOST accurately describes the first year of a 30-year level-payment, fixed rate mortgage? Which brokerage relationship is BEST suited to this couple? Yes, because this is an example of bait-and-switch advertising, and it is illegal. Within how many days must a licensee notify the Department of Business and Professional Regulation of a change in current mailing address? The Florida Building Energy-Efficiency Rating Act does NOT require. A building is valued at $135,000 with an estimated 25-year useful economic life. Which statement is TRUE regarding Florida's telemarketing law? 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. 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. B) the creation of a uniform, statewide energy-efficiency rating system. 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 - page 153). tenants and buyers of all residential property built before 1978. B) Interest payments remain constant while principal payments increase. Lynn is preparing a classified ad for a listed property. Within how many days must a licensee notify the Department of Business and Professional Regulation of a change in current mailing address? 227. 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. B) tenants and buyers of all residential property. 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. 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. 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? Therefore. PDF Small Entity Compliance Guide - Federal Communications Commission (page 247). Includes: Which statement about the economic concept of demand is FALSE? united states district court middle district of florida orlando division filed 1-: }lf 111 ai-l in: 56 { tv case no lcoc{-c!- l l-t f securities and exchange The brokerage can work with the buyer, in the same transaction. The city has agreed to pay 25 percent of the paving cost and will assess abutting properties for the remainder. Seller refuses to sign the release of escrow funds. (PDF) SEC Complaint: Darrel West and Own My Travel, LLC; 2016-12-06 A parcel of real estate has been left to the wife through her husband's will for the widow's use and enjoyment during her lifetime, with the provision the property goes to the widow's stepson at her death. 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. Subtract Business Combination Agreement and Plan Of Reorganization, dated February 24, 2023 from Oxbridge Acquisition Corp. filed with the Securities and Exchange Commission. Therefore, debited to seller and credited to buyer. B. Call Lynn Amherst, Excel Realty 333-2020 (cell). Which requirement is one of the elements of a valid real estate contract? SUBCHAPTER IICOMMON CARRIERS Part ICommon Carrier Regulation 201. Property taxes are paid in arrears - so seller has paid no taxes that month.