PDF United States District Court District of Massachusetts 1. Better A local lender charged 4 percent interest plus 4 points on a conventional mortgage loan. 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. It amended the Communications Act of 1934.The TCPA is codified as 47 U.S.C. The seller cannot now accept the original offer, because it was killed by the counteroffer. (page 247). They have created which type of estate or tenancy? Tenancy at Sufferance - without the consent of the landlord. Remainderman - 3rd party fee simple ownership at end of life estate by wife. What is the annual rent for the year if the annual gross sales are $450,000? Which statement MOST accurately describes the first year of a 30-year level-payment, fixed rate mortgage? It was first signed into law by President George H.W. National Do Not Call Registry - Wikipedia (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. 1. A real estate broker has been hired to manage an apartment complex on behalf of the landlord. Which statement is TRUE regarding this practice? 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. Property taxes are paid in arrears - so seller has paid no taxes that month. 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). A) Only veterans, surviving spouses of veterans, and active military personnel are eligible to apply for a VA loan. A local lender charged 4 percent interest plus 4 points on a conventional mortgage loan. A buyer offered $225,000 for a seller's property. Governance Form summarizes board of directors and the rights of the unit. 30 Days - if landlord is making a claim on the deposit, the landlord has 30 days to notify the tenant of the claim. Nothing in the Florida Telemarketing Act or the Telephonic Sales Law prohibits sending advertisements by fax. (Round answer to nearest dollar. What is the state's intangible tax on a new mortgage of $10,000? Is this transaction covered under Truth in Lending Act? 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. Accretion is the process of land buildup from water-borne rock, sand, and soil. A sales associate moves from Jacksonville, Florida, to Atlanta, Georgia. C) deduction of interest paid on the mortgage. Less than $50,000 = $25,000 von | Jun 17, 2022 | tornadoes of 1965 | | Jun 17, 2022 | tornadoes of 1965 | A. How will the property taxes be entered on the closing statement? A written contract for sale and purchase of commercial property that used designated sales associates failed to close. A township has 36 parcels called "sections." They have created which type of estate or tenancy? 51,904.64 x .07375 = 3,830.56 / 12 = 319.21 The brothers want their interest in the property to go to their spouses in the event of their deaths. a. Which statement concerning sections is FALSE? Which property is immune from property taxes? For more information about the TCPA, contact the FCC at fcc.gov. RE R V RE EVERE E R Vol. 2. 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. Which of the following statements about consumer protection laws is true? Federal and State Laws, Regulations, and Related Court Decisions Executive Orders and Other Presidential Actions The president creates many documents to issue orders and make announcements. A qualified buyer offers to pay the $2,000 down, but the developer states that the $2,000 down homes are all sold. Since seller hasn't received the money, it's not shown on the seller's statement. Memo from Chair Lina M. Khan to commission staff and commissioners regarding the vision and priorities for the FTC. Which individual is exempt from licensure under Florida Statute 475? 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? 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 landlord pays the property taxes, hazard insurance, and maintenance expenses. 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. A real estate licensee purchased a home from the seller. Ann. 1.1 - 1.4, in response to questions of general public interest. RESPA disclosures at time of loan or within 3 business days of: The landlord pays the property taxes, hazard insurance, and maintenance expenses. Which excerpt conforms to the rule regarding advertising? How Laws Are Made | USAGov A person applies for a mortgage loan from a local credit union. 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. The overall capitalization rate (OAR) is determined by analyzing which two components of similar properties in the subject property's market area? An official website of the United States government. The loan officer has three business days to give the loan applicant a copy of the information booklet. A Poisson distribution might be a good approximation for which of the following? Which document must be given to prospective purchasers only if purchasing a condo from a developer of 20 or more new residential condominium units? The building has an effective age of five years. The right of the state to take property of a person who died intestate and without heirs is known as. After the closing, the licensee discovered that the seller's broker had failed to disclose latent defects. Which business would be classified as a service industry? A building is valued at $135,000 with an estimated 25-year useful economic life. The contract is contingent on a radon test. A buyer has applied for a 20-year mortgage of $52,000 at 7 3/8 percent interest. Lynn Amherst is a sales associate for Excel Realty. Which brokerage relationship is BEST suited to this couple? Total is 60 Acres. The company's phone number is 222-1010. 2. If your lot frontage on the street is 90 feet, what is your portion of the special assessment? allows a sales associate or broker associate employed by an owner-developer to sell property for all the affiliated entities owned by the developer. How will the property taxes be entered on the closing statement? SUBCHAPTER IICOMMON CARRIERS Part ICommon Carrier Regulation 201. Within how many days must a landlord notify a tenant of intentions to claim part of the security deposit? Branch office of a bank is a service industry that services primarily local residents. 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? statement is TRUE. On June 29, - stradanove.net 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. If your lot frontage on the street is 90 feet, what is your portion of the special assessment? A lease calls for annual minimum rent of $14,500 plus 3 percent of annual gross sales in excess of $350,000. A) Monthly payments remain constant, and the interest portion comprises the majority of the payments. Option Contracts Criminals use this method as a way to obtain a victim's credit card information, identity, or bank account numbers. Which entity is a guarantor of mortgage-back securities? A licensee may not earn credit for attending a FREC meeting if the licensee is on the legal agenda for disciplinary action. Prohibits telemarketers from calling Arizona residents between the hours of 9 p.m. and. which statement is true regarding the federal telemarketing law? 19 - Just Test Questions Flashcards | Chegg.com 414.94 - 319.21 = 95.94 principal amount for month 2. The assessed value of an 88-year-old legally blind widow's condominium is $49,500. merrick okamoto net worth 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 Featuring infinite contrast ratio and VESA Display HDR True Back 400 for remarkably vivid colors and visuals bursting to life. Total $26,000, Tax advantages of owning a home do NOT include, Deductions of hazard insurance expense on a principal residence. A lead-based paint disclosure must be given to. Statutes change, so checking them is always a good idea. 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? 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. 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). Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securitie Homestead property is exempted from forced sale to satisfy judgement liens for debts owing to personal loans, CREDIT CARD DEBT, etc. The Florida Building Energy-Efficiency Rating Act does NOT require. What is the annual IRS depreciation deduction? C) Federally related transactions involve a federally insured financial institution. A sales associate moves from Jacksonville, Florida, to Atlanta, Georgia. Jalousie - window is almost impossible to seal; therefore, it's the lease energy efficient. D) Limited partners may participate in management activities of the limited partnership. A developer purchased two 145-front foot lots for $23,900 net each and divided them into three lots of equal front footage. Local government can recover the cost of widening a street in an existing neighborhood by charging the neighborhood property owners a. The brothers want their interest in the property to go to their spouses in the event of their deaths. FLORIDA REAL ESTATE UNIT 5 Flashcards | Quizlet Mass, direct, telemarketing, e-marketing, social media, billboards Personal selling: sales representatives directed to a customer in attempt to make a sale Can be modified, individualised, after-sales customer service Relationship marketing: development of long-term and cost-effective relationships with customers The answer is ACCRETION. A developer advertises homes for sale with a total down payment of $2,000. 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. It does not require the seller, at the seller's expense to conduct and energy efficiency rating of the structure prior to closing. Vendor's Lien - equitable lien of the grantor (seller under a PMM) on the land conveyed in the amount of the unpaid purchase price. How much of the $414.94 monthly payment paid in month two will apply to principal? 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. D) Real estate licensees are exempt from the telemarketing laws. 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. Listing Agreements for a term longer than 1 year. (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. The licensee sued the seller's broker and was awarded a judgment. The garage is 485 square feet. Brad Dye's Paging Information Resource ), $475,000*.8 = $380,000 / 39 years = $9,744. 156) Tax advantages of owning a home do NOT include A) deduction of hazard insurance expense on a principal residence. deliver the deposit check to the employer by the end of business on Thursday. B) It is in the licensee's best interest not to request reimbursement from the fund, because the licensee's license would be suspended. Arizona Telemarketing Fraud Laws - FindLaw The contract is contingent on a radon test. The Telephone Consumer Protection Act (TCPA) is the primary federal law governing the regulation of telephone solicitations. Which statement is TRUE regarding this situation? The brokerage relationship disclosure requirements in Chapter 475, Florida Statutes, do NOT apply to which transaction? The Florida Consumer Protection Law is located at Fla. Stat. 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. (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). Three brothers join together to purchase property. A court may award up to three times that amount for a willful or knowing violation. PGI - V&C = EGI Residential leases are usually gross leases. The mortgagee's title insurance policy is ISSUED FOR THE AMOUNT OF THE MORTGAGE LOAN AND IS TRANSFERABLE. Looking for legal documents or records? 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. Which statement is FALSE concerning federally related transactions? (PDF) American Ways American Ways A Guide for Foreigners in the United Which item would be classified as a fixed expense in the calculation of net operating income? Ginnie Mae (GNMA) serves as a guarantor of mortgage-backed securities. What is the annual IRS depreciation deduction? 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 . 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. Which statement regarding a limited real estate partnership is TRUE? The TCPA restricts telephone solicitations (i.e., telemarketing) and the use of automated telephone equipment. Deed is the written instrument to convey an interest in real property. Lease Agreements longer than 1 year 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. The associate continues to be employed by the same broker, who has an office in Atlanta. 2. refinancing of real property or interests in real property Three brothers join together to purchase property. 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. B) tenants and buyers of all residential property. Range 1 West is located immediately west of the principal meridian and base line. What was the approximate yield on the loan? I = R x V The company's phone number is 222-1010. 1.555.555.555 | influencer scandal 2022. 5. 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. croatia vs bulgaria prediction; he said she said wedding game; 1st time homebuyers (IRA contribution up to $10K) You are appraising a four-year-old, single-family residence. Division of Florida Condominiums, Timeshares, and Mobile Homes is charged with providing complaint resolution for HOAs. What is the final step in the real estate sale process? Which statement is TRUE regarding this situation? The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. 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. Use our visualizations to explore scam and fraud trends in your state based on reports from consumers like you. We work to advance government policies that protect consumers and promote competition. An individual who repeatedly writes bad checks can be charged with. 3. (page 91). The law is enforced by the Office of the Attorney General. Which characteristic is a disadvantage of investing in real estate? ahhhhhhh I wannnnnnaaaaaa slllleeeeeeeppppp - Chegg www.sec.gov Florida Expands Telemarketing Laws - The National Law Review 8-K: Oak Street Health, Inc. - MarketWatch (no more than $50 to an unlicensed person who is a tenant of the apartment complex for the referral fee - page 95). EngageSmart, Inc. (Form: 10-K, Received: 03/03/2022 16:58:53) Main Menu The TCPA restricts the making of telemarketing calls and the use of automatic telephone dialing systems and artificial or prerecorded voice messages. A comparable property recently sold for $315,000. $276,060 total. Final Exam Prep Flashcards | Quizlet Lynn's home phone number is 333-2020. A building is valued at $135,000 with an estimated 25-year useful economic life. 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? Lynn is preparing a classified ad for a listed property. It's one mile square of 640 acres. I understand these calls may be generated using an autodialer and may contain pre-recorded messages and that consenting is not required to Code of Federal Regulations: Restrictions on Telemarketing and Ann. Federal government websites often end in .gov or .mil. B) the creation of a uniform, statewide energy-efficiency rating system. The seller refuses to sign a release of the buyer's earnest money deposit and demands receipt of the deposit for himself. Which business would be classified as a service industry? An individual who repeatedly writes bad checks can be charged with, Moral Turpitude involves conduct contrary to honest, good morals, accepted custom (i.e. Within how many days must a licensee notify the Department of Business and Professional Regulation of a change in current mailing address? Which individual is exempt from licensure under Florida Statute 475? On the first of the month, the seller collected total rent for September amounting to $950. Personnel engaged in any aspect of telemarketing must be . The radon test indicates a high level of radon gas in the home, and the buyer gives written notice 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. D) Federally related transactions include transactions for the sale, lease, or purchase of real estate. 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? (2) Training of personnel engaged in telemarketing. Includes: The street in front of your house is to be paved at a cost of $45 per foot. These presidential actions can include executive orders, presidential memoranda, and proclamations. 145 x 2 = 290 Which solution is NOT a remedy for the breach of a real estate sale contract? In practice, the state list is integrated with the national do-not-call list maintained by the Federal Trade Commission (FTC). If the annual operating expenses amount to $36,990, and a prospective investor insists on at least a 12 percent overall rate of return, what is the maximum amount the investor should pay for the property? Homestead protection does not prevent foreclosure for nonpayment of property taxes, special assessments, mortgages, vendors' liens, or construction liens secured with homestead property. Which request should be made by the broker's attorney so that the broker can continue to work during the appeal process? Which statement is TRUE regarding this situation? b. SB 1120, which went into effect July 1, 2021, imposes significant additional restrictions (and additional penalties for violations) on businesses making calls to Florida residents or Florida area. Florida Restrictions on Telemarketers | Nolo Which list of appraisal methods is unique to the appraisal of business enterprises? 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). 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). The developer sold the lots for $250 per front foot. NOI = Cap Rate x Value (sale price) According to the contract for sale and purchase, the buyer is due the rental income for the day of closing. The city has agreed to pay 25 percent of the paving cost and will assess abutting properties for the remainder. B) The buyer and seller have entered into a contract for $225,000. It's one mile square of 640 acres, Range 1 West is located immediately west of the principal meridian and base line. is exempt from the sales associate course; however, she must pass a written Florida-specific real estate law exam. 14 Real estate related computations and c, 63 hour Real Estate practice Exam (first 50), Course Exam Review for Tampa School of Real E, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese, Alexander Holmes, Barbara Illowsky, Susan Dean, Calculus for Business, Economics, Life Sciences and Social Sciences, Karl E. Byleen, Michael R. Ziegler, Michae Ziegler, Raymond A. Barnett, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield. Compared with the subject property, the comparable is built of superior materials ($20,000) and the comparable has more square footage ($25,000). 485 x 76 = 36,860 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). D) Principal payments remain constant while interest payments increase. The referring tenants do not hold real estate licensees. Civil Rights Act of 1866 prohibits any type of discrimination based on race in any real estate transaction (sale or rental) without exception.