Which statement is TRUE regarding this situation? 1. Special Information Booklet (HUD) (page 169), The answer is ACCRETION. Which request should be made by the broker's attorney so that the broker can continue to work during the appeal process? A written contract for sale and purchase of commercial property that used designated sales associates failed to close. www.sec.gov Which statement is TRUE regarding the federal telemarketing law? The proposed guideline revisions would state that "in procuring, suppressing, boosting, organizing, or editing consumer reviews of their products, advertisers should not take actions that have the. You are appraising a four-year-old, single-family residence. 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 [1] Certain callers are required by federal law to respect this request. The site is secure. 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? A person who rents lots in a mobile home park. It does not require the seller, at the seller's expense to conduct and energy efficiency rating of the structure prior to closing. Maccas case study - Good - OPERATIONS role of operations management The developer sold the lots for $250 per front foot. 2003-2023 Chegg Inc. All rights reserved. Which statement applies to this situation? Property taxes A) Monthly payments remain constant, and the interest portion comprises the majority of the payments. Stay of Enforcement, if granted, stops the enforcement of a suspension or revocation in the final order pending the outcome of the appeal process. Which property is immune from property taxes? The buyer did not accept the seller's counteroffer. Is the broker required to retain the brokerage relationship disclosure documents, and if so, for how long? C) tenants and buyers of all residential property built before 1978. Deed is the written instrument to convey an interest in real property. Telemarketing - Florida Commissioner of Agriculture Annual Gross: 450,000 - 350,000 = 100,000 x .03 = $3,000 which statement is true regarding the federal telemarketing law? What was the approximate yield on the loan? Good Faith Estimate (GFE) The broker must retain the disclosure documents for five years even if a nonresidential transaction that used designated sales associates fails to close. The city has agreed to pay 25 percent of the paving cost and will assess abutting properties for the remainder. 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. Only 2 members must be consumer members who have never been brokers or sales associates. Florida's "Mini-TCPA" May Be More Broad and More Severe Than Its A closing is set for July 15. Liquidation analysis, reproduction cost analysis, and income capitalization analysis (and comparable sales analysis). 290 x 250 = 72,500 - 47,800 = 24,700 The Telephone Consumer Protection Act (TCPA) was passed in 1991 in response to consumer complaints of increased marketing calls and automated, pre-recorded messages. Which characteristic is a disadvantage of investing in real estate? 51,904.64 x .07375 = 3,830.56 / 12 = 319.21 (no more than $50 to an unlicensed person who is a tenant of the apartment complex for the referral fee - page 95). croatia vs bulgaria prediction; he said she said wedding game; A) The loan officer has three business days to give the loan applicant a copy of the information booklet. The constitutional homestead law protects real property from forced sale to satisfy which type of delinquent debt? The constitutional homestead law protects real property from forced sale to satisfy which type of delinquent debt? What is the total property tax exemption on her homesteaded property? Widow: $500 Which statement is TRUE regarding the federal telemarketing law? 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. D) Limited partners may participate in management activities of the limited partnership. 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 A building is valued at $135,000 with an estimated 25-year useful economic life. 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. Property taxes are paid in arrears - so seller has paid no taxes that month. 1.555.555.555 | influencer scandal 2022. For a violation of any of the telemarketing rules in Florida Statute Section 501.059, consumers can now sue to enjoin the violation and recover actual damages or $500, whichever amount is greater. Alienware 34 Curved QD-OLED Gaming Monitor - AW3423DW For Sale 47 Usc Chapter 5, Subchapter Ii: Common Carriers Find legal resources and guidance to understand your business responsibilities and comply with the law. Many states also have laws regulating telemarketing. 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? Solved I need help with any or all of these questions. Thank | Chegg.com Telemarketing Sales Rule | Federal Trade Commission Exclusion from gain on sale of principal residence up to $250K for single person, $500K for married couple filing jointly. 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. B) tenants and buyers of all residential property. FL law does not require that prospective buyers and seller be represented. Many of these lawsuits seem outrageously frivolous, while others deal with incredibly serious matters. 1. D) notification that the buyer may order an energy-efficiency rating on the building. Legally Blind: $500 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. 2. Within how many days must a licensee notify the Department of Business and Professional Regulation of a change in current mailing address? 0. Five-Star Reviews Enforcement Regulations from the FTC Is this transaction covered under Truth in Lending Act? In one of the more upsetting high-profile lawsuits, Vanessa Bryant has just reached a final . Ann. Which individual is exempt from licensure under Florida Statute 475? Telemarketing - Consumer Protection Topic - Alaska b. self-serving bias e. social categorization, Briefly explain the importance of each of the following. 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. Which brokerage relationship is BEST suited to this couple? Recording it in the public records shows that the mortgage lien has been removed. Stay of Enforcement, if granted, stops the enforcement of a suspension or revocation in the final order pending the outcome of the appeal process. Which statement about the economic concept of demand is FALSE? The seller told her broker that she was revoking the counteroffer and accepting the buyer's original offer. We work to advance government policies that protect consumers and promote competition. Deed is considered voluntary because it's under the owner's control. How is the earnest money deposit entered on the closing statement? A lead-based paint disclosure must be given to. 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 person applies for a mortgage loan from a local credit union. 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. Which statement is TRUE regarding this situation? However, there is a law found in Section 365.1657, Florida Statutes, that prohibits sending an unsolicited advertisement by fax machine within the state. PDF United States District Court District of Massachusetts 227. EngageSmart, Inc. (Form: 10-K, Received: 03/03/2022 16:58:53) A person who rents lots in a mobile home park. (Round answer to nearest dollar. Which statement is TRUE regarding this situation? 24,700 / 47,800 = 52% profit. The process of land buildup from water-borne rock and soil is referred to as. Homestead property is exempted from forced sale to satisfy judgement liens for debts owing to personal loans, CREDIT CARD DEBT, etc. (no more than $50 to an unlicensed person who is a tenant of the apartment complex for the referral fee. In practice, the state list is integrated with the national do-not-call list maintained by the Federal Trade Commission (FTC). 640/4/4 = 40 Which individual is exempt from licensure under Florida Statute 475? Lynn Amherst is a sales associate for Excel Realty. 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. Looking for legal documents or records? The TCPA restricts telephone solicitations (i.e., telemarketing) and the use of automated telephone equipment. a statement by you that you have a good faith belief that the disputed use is not authorized by the copyright owner, its agent, or the law; a statement by you, made under penalty of perjury, that the information provided in your notification is accurate and that you are the copyright owner or authorized to act on the copyright owner's behalf. B) exclusion of gain from the sale of a principal residence up to $500,000 if married and filing a joint return. B) The buyer and seller have entered into a contract for $225,000. Brad Dye's Paging Information Resource 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 associate continues to be employed by the same broker, who has an office in Atlanta. Section 31 would be located in which corner? Federal government websites often end in .gov or .mil. Compared with the subject property, the comparable is built of superior materials ($20,000) and the comparable has more square footage ($25,000). AND, IT WILL PROTECT THE NEW OWNER (IF TRANSFERRED) UP TO THE UNPAID BALANCE OF THE MORTGAGE LOAN. 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. 2,600 x 92 = 239,200 5 /25 x 135,000 = 27,000 accrued depreciation. Which requirement is one of the elements of a valid real estate contract? Tenancy at Will - if the tenant's holding over is continued with the written consent of the lessor, the tenancy becomes a tenancy at will under FL law. It's one mile square of 640 acres. Which property is immune from property taxes? C) Principal comprises the majority of the payments. How must the broker as agent handle the security deposits and advance rent? . D) Credit unions are exempt from the Real Estate Settlement Procedures Act. C) All VA mortgage loans contain a due on sale clause. InVirtek Vision International ULC v.Assembly Guidance Systems, Inc. d/b/a Aligned Vision, No. 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? How much is the minimum cash investment on an FHA loan? 1. transactions for the sale, lease or purchase of RE A) The federal telemarketing law exempts telephone surveyors. The assessed value of an 88-year-old legally blind widow's condominium is $49,500. Better Monthly payments remain constant, and the interest portion comprises the majority of the payments. Which statement is TRUE regarding a title company holding the escrow funds? (Pdf) Southern District of Florida Federal Trade Commission, Southern Ann. 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 "21 Rules You Must Use" are the most important things you need to do now and on an ongoing basis to prevent identity theft. If you prefer to file your comment on paper, mail your comment to the following address: Federal Trade Commission, Office of the Secretary, 600 Pennsylvania Avenue NW, Suite CC-5610 (Annex B), Washington, DC 20580. TILA/Reg Z makes "Bait and Switch" advertising a federal offense. Laws Protecting Consumers - Ohio Attorney General Dave Yost A township has 36 parcels called "sections." Which statement is TRUE regarding this situation? All national chartered commercial banks are members of which entity? The land value is 20 percent of the total acquisition cost. Which entity is a guarantor of mortgage-back securities? Which document must be given to prospective purchasers only if purchasing a condo from a developer of 20 or more new residential condominium units? von | Jun 17, 2022 | tornadoes of 1965 | | Jun 17, 2022 | tornadoes of 1965 | 2. refinancing of real property or interests in real property I = R x V 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). Telemarketing Laws - FindLaw writing bad checks, crimes of larceny). (page 176). Federal Register :: Telemarketing Sales Rule 3. A buyer and seller enter into a contract for sale and purchase of a home. Mortgage interest Which list of appraisal methods is unique to the appraisal of business enterprises? The sales associate must notify the DBPR in writing within 60 days regarding her change in residency. tenants and buyers of all residential property built before 1978. PDF Small Entity Compliance Guide - Federal Communications Commission Which law prohibits racial discrimination in the sale or lease of all real property without exception? Florida Expands Telemarketing Laws - The National Law Review Which type of depreciation is associated with inefficient architectural design? D) The VA can make direct loans to veterans. False - All VA mortgage loans contain a due on sale clause. Reproduction cost: which statement is true regarding the federal telemarketing law? 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. The developer sold the lots for $250 per front foot. Final Exam Flashcards | Chegg.com 71,820 - 36,990 = 34,840 NOI It amended the Communications Act of 1934.The TCPA is codified as 47 U.S.C. Central Asia. which statement is true regarding the federal telemarketing law? A licensee may not earn credit for attending a FREC meeting if the licensee is on the legal agenda for disciplinary action. 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). A sales associate moves from Jacksonville, Florida, to Atlanta, Georgia. tenants and buyers of all residential property built before 1978. Which statement is TRUE regarding comparative market analyses (CMAs)? Statutes change, so checking them is always a good idea. ), $475,000*.8 = $380,000 / 39 years = $9,744, Ch. Reply 'STOP' to unsubscribe from SMS service. The broker decides to appeal FREC's final order. Runners crossing the finish line in the Boston Marathon. Homestead protection does not prevent foreclosure for nonpayment of property taxes, special assessments, mortgages, vendors' liens, or construction liens secured with homestead property. . deliver the deposit check to the employer by the end of business on Thursday. The overall capitalization rate (OAR) is determined by analyzing which two components of similar properties in the subject property's market area? 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. Three brothers join together to purchase property. Licensees must notify the DBPR in writing within 10 days of a change in current mailing address. Personnel engaged in any aspect of telemarketing must be . 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. 950 / 30 = 31.67 x 20 = $633.33 Accretion is the process of land buildup from water-borne rock, sand, and soil. Advertising and Marketing | Federal Trade Commission A person applies for a mortgage loan from a local credit union. A buyer and seller enter into a contract for sale and purchase of a home. Limited partners must register with the FREC under the limited partnership name. Which statement is FALSE concerning federally related transactions? Which statement is FALSE? A Georgia real estate licensee moved to Miami five months ago. (PAGE 190), Which statement concerning sections is FALSE? On July 1, 2021, Florida enacted a comprehensive new telemarketing law that arguably goes beyond the federal Telephone Consumer Protection Act ("TCPA"). Which statement regarding a limited real estate partnership is TRUE? Telephone Consumer Protection Act of 1991 - Wikipedia A commercial tenant pays a fixed rent each month. When a loan is paid off in a lien theory state, which instrument should the lender prepare and give to the borrower? (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). C. The applicant must apply for a broker license under mutual recognition. What is the annual IRS depreciation deduction? The company's phone number is 222-1010. 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. Calculate the developer's percentage of profit (round to nearest whole percentage point). Companies also need to be familiar with rules banning most forms of robocalling. 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. 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. Find the resources you need to understand how consumer protection law impacts your business. Which expense is deducted to derive effective gross income? 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? 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 purpose of the Do Not Call registry is to give consumers a choice regarding telemarketing calls. 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. A comparable property recently sold for $315,000. 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 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 are appraising a four-year-old, single-family residence. Which statement is TRUE regarding the federal telemarketing law? Which statement applies to this situation? 34,840 / .12 = $290,250 max purchase price. A complaint legally sufficient if it contains facts indicating that a violation of any of the following has occurred. Main Menu The Florida Consumer Protection Law is located at Fla. Stat. PGI - V&C = EGI The licensee sued the seller's broker and was awarded a judgment. How Laws Are Made | USAGov The broker must retain the disclosure documents for five years even if a nonresidential transaction that used designated sales associates fails to close. 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). C) notification that the energy-efficiency rating of the structure may qualify the buyer for an energy-efficient mortgage. Tax advantages of owning a home do NOT include A) deduction of hazard insurance expense on a principal residence. The brokerage relationship disclosure requirements in Chapter 475, Florida Statutes, do NOT apply to which transaction? Lynn Amherst is a sales associate for Excel Realty. Which business would be classified as a service industry? Mortgage origination fees (points) 3.5% is the minimum down payment on a FHA loan. Calculate the developer's percentage of profit (round to nearest whole percentage point). The referring tenants do not hold real estate licensees. FL law does not require that prospective buyers and seller be represented. B) Interest payments remain constant while principal payments increase. A building is valued at $135,000 with an estimated 25-year useful economic life. How will the property taxes be entered on the closing statement? The seller told her broker that she was revoking the counteroffer and accepting the buyer's original offer. 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). Governance Form summarizes board of directors and the rights of the unit. D) Principal payments remain constant while interest payments increase. A licensee may not earn credit for attending a FREC meeting if the licensee is on the legal agenda for disciplinary action. THIS AGREEMENT AND PLAN OF MERGER AND REORGANIZATION (this "Agreement") is made and entered into as of February 19, 2014(the "Agreement Date"), by and among Facebook, Inc. This arrangement is, illegal, because the amount of compensation exceeds the allowable amount. 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. is exempt from the sales associate course; however, she must pass a written Florida-specific real estate law exam. Which amendment to the Florida constitution limits how much the assessed value of homesteaded property can increase in a given year? Monthly payments remain constant, and the interest portion comprises the majority of the payments. 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. CBS vs. CIA 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).