On February 17, the Justice Department, together with the Federal Trade Commission (FTC), announced a civil enforcement action against several corporate and individual defendants for alleged violations of the FTC Act and the Telemarketing Sales Rule (TSR) in connection with telemarketing campaigns that have involved millions of illegal robocalls. A township has 36 parcels called "sections." The site is secure. Real estate licensees may contact their former customers for up to 18 months. The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. Tax advantages of owning a home do NOT include A) deduction of hazard insurance expense on a principal residence. C) tenants and buyers of all residential property built before 1978. 4. 6. All national chartered commercial banks are members of which entity? Is the broker required to retain the brokerage relationship disclosure documents, and if so, for how long? What was the approximate yield on the loan? Deed is the written instrument to convey an interest in real property. Which solution is NOT a remedy for the breach of a real estate sale contract? 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. When a loan is paid off in a lien theory state, which instrument should the lender prepare and give to the borrower? 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. A) Monthly payments remain constant, and the interest portion comprises the majority of the payments. The buyer did not accept the seller's counteroffer. For more information about the TCPA, contact the FCC at fcc.gov. C) Principal comprises the majority of the payments. C) Federally related transactions involve a federally insured financial institution. Under the federal telemarketing law, a real estate licensee may A. call Sue for up to 3 months after she makes and inquiry about a house listed for sale. Solved I need help with any or all of these questions. Thank | Chegg.com 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. Within ten business days after the deposit is due under the sale contract, the broker . The overall capitalization rate (OAR) is determined by analyzing which two components of similar properties in the subject property's market area? 501.001 and following, and includes the Florida Telemarketing Act at Fla. Stat. 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). 2. refinancing of real property or interests in real property 640/4/4/2 = 20 D) The real estate licensee is not eligible to make a claim against the Real Estate Recovery Fund. After the closing, the licensee discovered that the seller's broker had failed to disclose latent defects. These presidential actions can include executive orders, presidential memoranda, and proclamations. 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? (2) Training of personnel engaged in telemarketing. Use the actual number of days in the closing month when determining the time line. B) tenants and buyers of all residential property. (Round answer to nearest dollar. 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 broker is NOT required by law to notify the FREC of conflicting demands in which situation? Similarly, a brokerage firm working in a no brokerage relationship capacity can work with a buyer. Within how many days must a landlord notify a tenant of intentions to claim part of the security deposit? Arizona Telemarketing Fraud Laws - FindLaw A local lender charged 4 percent interest plus 4 points on a conventional mortgage loan. 2,600 x 92 = 239,200 which statement is true regarding the federal telemarketing law The statute of frauds requires that contracts conveying an interest in real property and contracts that aren't to be performed within one year of the date created must be in writing and signed to be enforceable. A qualified buyer offers to pay the $2,000 down, but the developer states that the $2,000 down homes are all sold. The assessed value of an 88-year-old legally blind widow's condominium is $49,500. Compared with the subject property, the comparable is built of superior materials ($20,000) and the comparable has more square footage ($25,000). Yes, because this is an example of bait-and-switch advertising, and it is illegal. United States: D. Mass. Patent Litigation Update: January 2023 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. Florida Expands Telemarketing Laws - The National Law Review The land value is 20 percent of the total acquisition cost. The seller cannot now accept the original offer, because it was killed by the counteroffer. 1. On June 29, Gov. The settlement benefits consumers who received one or more prerecorded voice messages regarding Connected Investors' goods and services between April 28, 2017, and Sept. 26, 2022. 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. Within how many days must a licensee notify the Department of Business and Professional Regulation of a change in current mailing address? 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 loan officer did not give the loan applicant a copy of the HUD information booklet concerning settlement costs at the time of loan application. 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. Please note that the following information is for educational purposes only, and additional laws may apply. a. Is the broker required to retain the brokerage relationship disclosure documents, and if so, for how long? The most high-profile celebrity lawsuits of all time Which requirement is one of the elements of a valid real estate contract? 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. which statement is true regarding the federal telemarketing law? The seller is still owed the entire amount of the purchase price. (page 176). Which type of window is the least energy efficient? The constitutional homestead law protects real property from forced sale to satisfy which type of delinquent debt? Using the lump-sum age-life method, find the depreciated value of the building. astros vs yankees cheating. Statutes change, so checking them is always a good idea. The rental property has a negative cash flow of $11,000. Which statement is TRUE regarding this situation? To obtain a stay of the final order, the district court of appeals must issue a writ of supersedes to stop the enforcement pending the outcome of the appeal process A licensee who is issued a citation may be ordered to, Citations involve fines that currently range from $100 to $500 per offense and may include other assessments (ex: REQUIRE EDUCATIONAL COURSE ATTENDANCE), If a licensee/respondent disputes any of the allegations outlined in the administrative complaint, the case must be heard in, 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, 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. Which amendment to the Florida constitution limits how much the assessed value of homesteaded property can increase in a given year? Interest on Home Equity A developer purchased two 145-front foot lots for $23,900 net each and divided them into three lots of equal front footage. TELEMARKETERS FOR ELECTRIC SUPPLIERS - Connecticut General Assembly deliver the deposit check to the employer by the end of business on Thursday. Which statement is TRUE regarding comparative market analyses (CMAs)? 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). Write "Telemarketing Sales Rule ANPR, R411001" on your comment, and file your comment through https://www.regulations.gov. $276,060 total. Which document must a prospective buyer of an existing (resale) condominium unit receive? Advertising and Marketing | Federal Trade Commission Final Exam Prep Flashcards | Quizlet The Florida Consumer Protection Law is located at Fla. Stat. A developer advertises homes for sale with a total down payment of $2,000. Search the Legal Library instead. 414.94 - 319.21 = 95.94 principal amount for month 2. The company's phone number is 222-1010. 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. RE R V RE EVERE E R Vol. A real estate broker has been hired to manage an apartment complex on behalf of the landlord. The contract is contingent on a radon test. The Georgia licensee. The assessed value of an 88-year-old legally blind widow's condominium is $49,500. 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. The brokerage can work with the buyer, in the same transaction, A sales associate receives a deposit from a buyer on Wednesday morning. Telephone Consumer Protection Act of 1991 - Wikipedia Tenancy in Common (no right of survivor ship, heirs inherit), Remainderman - 3rd party fee simple ownership at end of life estate by wife. Which type of depreciation is associated with inefficient architectural design? is exempt from the sales associate course; however, she must pass a written Florida-specific real estate law exam. c. There are no federal laws that regulate This problem has been solved! 8 a.m. D) notification that the buyer may order an energy-efficiency rating on the building. Division of Florida Condominiums, Timeshares, and Mobile Homes is charged with providing complaint resolution for HOAs. A commercial tenant pays a fixed rent each month. You are appraising a four-year-old, single-family residence. If your lot frontage on the street is 90 feet, what is your portion of the special assessment? Ann. An EARNEST MONEY DEPOSIT is desirable to protect the seller, but it's not required to make a contract valid. Many states also have laws regulating telemarketing. The referring tenants do not hold real estate licensees. A) The loan officer has three business days to give the loan applicant a copy of the information booklet. A buyer and seller enter into a contract for sale and purchase of a home. Hazard Insurance is included as part of a fixed expense (also ppty taxes), Functional Obsolescence - operational inadequacies, poor design, or changing tastes and preferences (page 342), T-Intersection (open view down the street, lights shining into window and possible danger from speeding runaway cars - page 358), Wattage is the measurement of the amount of energy consumed. The brothers want their interest in the property to go to their spouses in the event of their deaths. Recording it in the public records shows that the mortgage lien has been removed. Index plus Margin equals Calculated Interest Payment on an ARM. The overall capitalization rate (OAR) is determined by analyzing which two components of similar properties in the subject property's market area? 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. Division of Florida Condominiums, Timeshares, and Mobile Homes is charged with providing complaint resolution for HOAs. The Georgia licensee. A sales associate receives a deposit from a buyer on Wednesday morning. The Internet connects marketers to customers across the country and around the world. Homestead protection does not prevent foreclosure for nonpayment of property taxes, special assessments, mortgages, vendors' liens, or construction liens secured with homestead property. Deed is considered voluntary because it's under the owner's control. What is the annual IRS depreciation deduction? Good Faith Estimate (GFE) Bush in 1991 and has remained the bedrock of federal telemarketing regulations ever since. FL law does not require that prospective buyers and seller be represented. A commercial tenant pays a fixed rent each month. RESPA disclosures at time of loan or within 3 business days of: 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. 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. The RE licensee is not eligible to make a claim against the Real Estate Recovery Fund. Central Asia. What is the state's intangible tax on a new mortgage of $10,000? How is the earnest money deposit entered on the closing statement? 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. 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. Governance Form summarizes board of directors and the rights of the unit. 51,904.64 x .07375 = 3,830.56 / 12 = 319.21 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. Governance Form summarizes board of directors and the rights of the unit. Lynn Amherst is a sales associate for Excel Realty. 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. Which statement about the economic concept of demand is FALSE? 5. Telemarketing also includes sales solicitations via fax, the Internet and mail, if the consumer is encouraged to respond via the telephone, fax . 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. 2. 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. An apartment building produces an effective annual gross income of $71,820. illegal, because the amount of compensation exceeds the allowable amount.