which statement is true regarding the federal telemarketing law?

After the closing, the licensee discovered that the seller's broker had failed to disclose latent defects. 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 loan officer has three business days to give the loan applicant a copy of the information booklet. 30 Days - if landlord is making a claim on the deposit, the landlord has 30 days to notify the tenant of the claim. Which item would be classified as a fixed expense in the calculation of net operating income? A sales associate moves from Jacksonville, Florida, to Atlanta, Georgia. The brokerage relationship disclosure requirements in Chapter 475, Florida Statutes, do NOT apply to which transaction? 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. Call Lynn Amherst, Excel Realty 333-2020 (cell). Illiquidity; 2. If your lot frontage on the street is 90 feet, what is your portion of the special assessment? The assessed value of an 88-year-old legally blind widow's condominium is $49,500. The Florida Consumer Protection Law is located at Fla. Stat. The licensee sued the seller's broker and was awarded a judgment. The day after signing the sale contract and reviewing the condominium documents, the buyers notify the broker that they want to cancel the contract. Which statement is TRUE regarding this situation? B) Every general partner in a limited real estate partnership who performs real estate services must hold a real estate broker license. C) The seller has breached the buyer's contract, and the buyer can sue to force the seller to take a lower price. You are appraising a four-year-old, single-family residence. Bush in 1991 and has remained the bedrock of federal telemarketing regulations ever since. A) Federally related transactions require an appraisal. The land value is 20 percent of the total acquisition cost. 414.94 - 319.21 = 95.94 principal amount for month 2. A building is valued at $135,000 with an estimated 25-year useful economic life. 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. 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. AND, IT WILL PROTECT THE NEW OWNER (IF TRANSFERRED) UP TO THE UNPAID BALANCE OF THE MORTGAGE LOAN. The Florida Real Estate Commission (FREC) issued a seven-year suspension of a broker's license. Which type of listing allows the seller to list the property with other brokers? 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. 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. A broker is NOT required by law to notify the FREC of conflicting demands in which situation? It was first signed into law by President George H.W. Which property is immune from property taxes? 2. Only 2 members must be consumer members who have never been brokers or sales associates. What is the total property tax exemption on her homesteaded property? Which business would be classified as a service industry? Which entity is a guarantor of mortgage-back securities? The associate must, An owner of an apartment complex pays $100 to each tenant who refers a person who becomes a tenant. Which type of listing allows the seller to list the property with other brokers? A) Seller and buyer both claim the earnest money deposit. I understand these calls may be generated using an autodialer and may contain pre-recorded messages and that consenting is not required to 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. AND, IT WILL PROTECT THE NEW OWNER (IF TRANSFERRED) UP TO THE UNPAID BALANCE OF THE MORTGAGE LOAN. Which statement is TRUE regarding comparative market analyses (CMAs)? The brokerage relationship disclosure requirements in Chapter 475, Florida Statutes, do NOT apply to which transaction? 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 request should be made by the broker's attorney so that the broker can continue to work during the appeal process? Call Us Today! 414.94 - 319.58 = 95.36 C) Federally related transactions involve a federally insured financial institution. 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. D) Limited partners may participate in management activities of the limited partnership. writing bad checks, crimes of larceny). Deed is the written instrument to convey an interest in real property. A comparable property recently sold for $315,000. Wattage is the measurement of the amount of energy consumed. The city has agreed to pay 25 percent of the paving cost and will assess abutting properties for the remainder. Recording it in the public records shows that the mortgage lien has been removed. Servicing disclosure statement. A) The real estate licensee is eligible to make a claim for recovery from the fund, because the licensee acted in the capacity of a buyer. 1. Telemarketing involves situations in which companies call consumers to sell their goods or services, or consumers call companies to make purchases in response to mailings or other forms of advertising. Governance Form summarizes board of directors and the rights of the unit. The sales associate must notify the DBPR in writing within 60 days regarding her change in residency. What is the adjusted sale price of the comparable? A) The federal telemarketing law exempts telephone surveyors. 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's home phone number is 333-2020. Stay of Enforcement, if granted, stops the enforcement of a suspension or revocation in the final order pending the outcome of the appeal process. A brokerage firm represents a seller as a single agent. (2) Training of personnel engaged in telemarketing. (page 176). The buyer did not accept the seller's counteroffer. Risk. Which statement applies to this situation? A) The loan officer has three business days to give the loan applicant a copy of the information booklet. 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)? (page 99), Moral Turpitude involves conduct contrary to honest, good morals, accepted custom (i.e. Ann. It's one mile square of 640 acres, Range 1 West is located immediately west of the principal meridian and base line. $52,000 x .07375 = 3,835 / 12 = 319.58 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. Federal government websites often end in .gov or .mil. 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. Branch office of a bank is a service industry that services primarily local residents. Stay of Enforcement, if granted, stops the enforcement of a suspension or revocation in the final order pending the outcome of the appeal process. We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. 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? ($500 fine if not notified correctly). Claim against the RE Recovery Fund is for a result of license law violations by a licensee ($50k per transaction and mo more than $150K against on licensee involved in mult transactions) the others are remedies for a breach in contract. A developer advertises homes for sale with a total down payment of $2,000. Use our visualizations to explore scam and fraud trends in your state based on reports from consumers like you. Which statement is TRUE? What is the total property tax exemption on her homesteaded property? In an effort to address a growing number of telephone marketing calls, Congress enacted in 1991 the Telephone Consumer Protection Act (TCPA). On July 1, 2021, Florida enacted a comprehensive new telemarketing law that arguably goes beyond the federal Telephone Consumer Protection Act ("TCPA"). C) deduction of interest paid on the mortgage. The FTC does not prohibit bait-and-switch advertising. How many members of the Florida Real Estate Commission must be consumer members who have never been real estate brokers or sales associates? merrick okamoto net worth Better Distinguish between FASB Accounting Standards Updates and FASB Statements of Financial Accounting Concepts. 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. Using the lump-sum age-life method, find the depreciated value of the building. Which statement concerning Department of Veterans Affairs (VA) mortgage loans is FALSE? The total square footage of the livable area is 2,600. Which law prohibits racial discrimination in the sale or lease of all real property without exception? Governance Form summarizes board of directors and the rights of the unit. Nothing in the Florida Telemarketing Act or the Telephonic Sales Law prohibits sending advertisements by fax. 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. B) Interest payments remain constant while principal payments increase. 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 . In one of the more upsetting high-profile lawsuits, Vanessa Bryant has just reached a final . This arrangement is, illegal, because the amount of compensation exceeds the allowable amount. The rental property has a negative cash flow of $11,000. Seller refuses to sign the release of escrow funds. 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. 71,820 - 36,990 = 34,840 NOI (page 91). Exclusion from gain on sale of principal residence up to $250K for single person, $500K for married couple filing jointly. D) notification that the buyer may order an energy-efficiency rating on the building. The overall capitalization rate (OAR) is determined by analyzing which two components of similar properties in the subject property's market area? D) Real estate licensees are exempt from the telemarketing laws. Tax advantages of owning a home do NOT include A) deduction of hazard insurance expense on a principal residence. Hazard Insurance is included as part of a fixed expense (also ppty taxes) Mortgage payments are not considered an opex because they are not directly associated with the maintenance and operation of the property. . 633.33 debited to seller and credited to buyer. Calculate the developer's percentage of profit (round to nearest whole percentage point). 3.5% is the minimum down payment on a FHA loan. Index plus Margin equals Calculated Interest Payment on an ARM, Ginnie Mae (GNMA) serves as a guarantor of mortgage-backed securities. The broker decides to appeal FREC's final order. The licensee was unable to collect on the judgment and is considering submitting a claim to the Real Estate Recovery Fund. (page 219). The seller told her broker that she was revoking the counteroffer and accepting the buyer's original offer. Which statement is TRUE regarding this property? Complaint resolution for homeowner associations is provided by which division of Florida government? The radon test indicates a high level of radon gas in the home, and the buyer gives written notice to cancel the contract. Which brokerage relationship is BEST suited to this couple? 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. 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. The constitutional homestead law protects real property from forced sale to satisfy which type of delinquent debt? Is this transaction covered under Truth in Lending Act? An apartment building produces an effective annual gross income of $71,820. Referred to as Florida's "Mini-TCPA," this new law, CS/SB 1120, updates the Florida Consumer Protection Law and the Florida Telemarketing Act. Which statement concerning Department of Veterans Affairs (VA) mortgage loans is FALSE? 20-cv-10857, Judge Burroughs construed two disputed terms in a patent relating to a method of aligning a laser projector for projecting a laser image onto a work surface.. 1. 34,840 / .12 = $290,250 max purchase price. 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. Search the Legal Library instead. Homestead protection does not prevent foreclosure for nonpayment of property taxes, special assessments, mortgages, vendors' liens, or construction liens secured with homestead property. What is the annual rent for the year if the annual gross sales are $450,000? Is this transaction covered under Truth in Lending Act? 1. Which solution is NOT a remedy for the breach of a real estate sale contract? The seller refuses to sign a release of the buyer's earnest money deposit and demands receipt of the deposit for himself. Lynn Amherst is a sales associate for Excel Realty. (page 169), The answer is ACCRETION. Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securitie 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. These opinions are issued, pursuant to Rules 1.1 - 1.4 of the Commission's Rules of Practice, 16 C.F.R. The company's phone number is 222-1010. 0. I = R x V Which statement is FALSE concerning federally related transactions? General warranty deed includes quiet enjoyment (peaceful possession undisturbed by claims of title), warranty forever (forever warrant and defend grantee's title), and further assurance (will help make title good in the future too), The lender's policy protects the lender against title defects. The 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. 5 /25 x 135,000 = 27,000 accrued depreciation. The site is secure. 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). And some rules can even vary within a state. Homestead property is exempted from forced sale to satisfy judgement liens for debts owing to personal loans, CREDIT CARD DEBT, etc. The purpose of the Do Not Call registry is to give consumers a choice regarding telemarketing calls. A local lender charged 4 percent interest plus 4 points on a conventional mortgage loan. D. (Round answer to nearest dollar. The loan officer has three business days to give the loan applicant a copy of the information booklet. Which list of appraisal methods is unique to the appraisal of business enterprises? Monthly payments remain constant, and the interest portion comprises the majority of the payments. (page 362), Jalousie - window is almost impossible to seal; therefore, it's the lease energy efficient. Mortgage interest Which law prohibits racial discrimination in the sale or lease of all real property without exception? Is the broker required to retain the brokerage relationship disclosure documents, and if so, for how long? The applicant has not fulfilled the experience requirement. Securities registered pursuant to Section 12(g) of the Act: None. 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. The associate continues to be employed by the same broker, who has an office in Atlanta. The broker must retain the disclosure documents for five years even if a nonresidential transaction that used designated sales associates fails to close. (no more than $50 to an unlicensed person who is a tenant of the apartment complex for the referral fee - page 95). required by Florida law to verify that license applicants are current on child support payments. Lynn is preparing a classified ad for a listed property. A developer advertises homes for sale with a total down payment of $2,000. Deed is considered voluntary because it's under the owner's control. D) Principal payments remain constant while interest payments increase. Similarly, a brokerage firm working in a no brokerage relationship capacity can work with a buyer.

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