which statement is true regarding the federal telemarketing law?

The radon test indicates a high level of radon gas in the home, and the buyer gives written notice to cancel the contract. Use the actual number of days in the closing month when determining the time line. A person who rents lots in a mobile home park. (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. A Georgia real estate licensee moved to Miami five months ago. Which of the following statements about consumer protection laws is true? A couple are interested in purchasing residential investment property, and they have informed their sales associate that they want limited representation but do not want to be legally held responsible for the acts of a licensee. Tenancy in Common (no right of survivor ship, heirs inherit), 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. A brokerage firm represents a seller as a single agent. RESPA disclosures at time of loan or within 3 business days of: 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. 30 Days - if landlord is making a claim on the deposit, the landlord has 30 days to notify the tenant of the claim. 34,840 / .12 = $290,250 max purchase price. Deeds and Mortgage Instruments Option Contracts 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. b. self-serving bias e. social categorization, Briefly explain the importance of each of the following. A broker is NOT required by law to notify the FREC of conflicting demands in which situation? The broker must retain the disclosure documents for five years even if a nonresidential transaction that used designated sales associates fails to close. Lease Agreements longer than 1 year The brokerage relationship disclosure requirements in Chapter 475, Florida Statutes, do NOT apply to which transaction? B) The buyer and seller have entered into a contract for $225,000. Homestead protection does not prevent foreclosure for nonpayment of property taxes, special assessments, mortgages, vendors' liens, or construction liens secured with homestead property. Which statement MOST accurately describes the first year of a 30-year level-payment, fixed rate mortgage? 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. 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. Stay of Enforcement, if granted, stops the enforcement of a suspension or revocation in the final order pending the outcome of the appeal process. Complaint resolution for homeowner associations is provided by which division of Florida government? 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. 501.059. The term used to measure the amount of energy an electrical appliance consumes is. Our mission is protecting consumers and competition by preventing anticompetitive, deceptive, and unfair business practices through law enforcement, advocacy, and education without unduly burdening legitimate business activity. Management considerations is one of the disadvantages of investing in RE. 2. 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 Lynn's home phone number is 333-2020. How much of the $414.94 monthly payment paid in month two will apply to principal? 1. Which statement is TRUE regarding this situation? Before sharing sensitive information, make sure youre on a federal government site. The associate continues to be employed by the same broker, who has an office in Atlanta. B. required by Florida law to verify that license applicants are current on child support payments. 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. According to the contract for sale and purchase, the buyer is due the rental income for the day of closing. How will the property taxes be entered on the closing statement? 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? Which statement is TRUE regarding this practice? A qualified buyer offers to pay the $2,000 down, but the developer states that the $2,000 down homes are all sold. On the first of the month, the seller collected total rent for September amounting to $950. The stepson's interest is that of. C) Principal comprises the majority of the payments. Which solution is NOT a remedy for the breach of a real estate sale contract? The Telephone Consumer Protection Act (TCPA) was passed in 1991 in response to consumer complaints of increased marketing calls and automated, pre-recorded messages. Liquidation analysis, reproduction cost analysis, and income capitalization analysis (and comparable sales analysis). A comparable property recently sold for $315,000. When a loan is paid off in a lien theory state, which instrument should the lender prepare and give to the borrower? The landlord pays the property taxes, hazard insurance, and maintenance expenses. Total is 60 Acres. Property taxes The street in front of your house is to be paved at a cost of $45 per foot. Better The brothers want their interest in the property to go to their spouses in the event of their deaths. deliver the deposit check to the employer by the end of business on Thursday. Included advantages: Why do many second-generation Korean-American mothers, who often have negative memories of growing up under strict, intensive, achievement-oriented "tiger mothering"a term popularized by Amy Chua's bestselling Battle Hymn of the Tiger Mother (Chua 2011)reproduce certain aspects of this parenting style in raising their own children? 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. A comparable property recently sold for $315,000. The FALSE statement is the a SECTION contains 43,560 sf. The sales associate must notify the DBPR in writing within 60 days regarding her change in residency. A person who rents lots in a mobile home park. 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 licensee was unable to collect on the judgment and is considering submitting a claim to the Real Estate Recovery Fund. Many states also have laws regulating telemarketing. Learn more about your rights as a consumer and how to spot and avoid scams. A) The federal telemarketing law exempts telephone surveyors. 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. Real estate licensees may contact their former customers for up to 18 months. How much is the minimum cash investment on an FHA loan? 5 /25 x 135,000 = 27,000 accrued depreciation. A buyer and seller enter into a contract for sale and purchase of a home. 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 earnest money deposit normally appears on the closing statement as a. What is the state's intangible tax on a new mortgage of $10,000? Which statement MOST accurately describes the first year of a 30-year level-payment, fixed rate mortgage? The licensee sued the seller's broker and was awarded a judgment. Contract to purchase a shopping center (page 58). The RE licensee is not eligible to make a claim against the Real Estate Recovery Fund. Monthly payments remain constant, and the interest portion comprises the majority of the payments. 5. A real estate licensee purchased a home from the seller. The extensible markup language (XML) is a markup language promoted by the World Wide Web consortium (W3C). According to the contract for sale and purchase, the buyer is due the rental income for the day of closing. Base: 14,500 Homestead property is exempted from forced sale to satisfy judgement liens for debts owing to personal loans, CREDIT CARD DEBT, etc. Which statement is TRUE regarding the federal telemarketing law? 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. Licensees must notify the DBPR in writing within 10 days of a change in current mailing address. The seller is still owed the entire amount of the purchase price. The Telecommunications Consumer Protection Act of 1991 (TCPA) is a piece of U.S. federal legislation that set guidelines for telemarketing practices in response to consumer complaints. Mortgage origination fees (points) The building has an effective age of five years. An EARNEST MONEY DEPOSIT is desirable to protect the seller, but it's not required to make a contract valid. 315,000 - 20,000 - 25,000 = 270,000. Wattage is the measurement of the amount of energy consumed. What is the total property tax exemption on her homesteaded property? Similarly, a brokerage firm working in a no brokerage relationship capacity can work with a buyer. Open listing allows the seller to list the property with multiple brokers. The seller is still owed the entire amount of the purchase price. 950 / 30 = 31.67 x 20 = $633.33 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. What was the approximate yield on the loan? (no more than $50 to an unlicensed person who is a tenant of the apartment complex for the referral fee - page 95). The associate must. The loan officer has three business days to give the loan applicant a copy of the information booklet. PSA B) The loan applicant can sue the credit union for violating the Fair Housing laws. The tenant has what type of lease? What is the annual rent for the year if the annual gross sales are $450,000? 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 loan officer did not give the loan applicant a copy of the HUD information booklet concerning settlement costs at the time of loan application. The mortgagee's title insurance policy is ISSUED FOR THE AMOUNT OF THE MORTGAGE LOAN AND IS TRANSFERABLE. C. The applicant must apply for a broker license under mutual recognition. Three brothers join together to purchase property. The calculated interest rate of an adjustable-rate mortgage is determined by adding which two components? How many members of the Florida Real Estate Commission must be consumer members who have never been real estate brokers or sales associates? An apartment building produces an effective annual gross income of $71,820. A licensee may not earn credit for attending a FREC meeting if the licensee is on the legal agenda for disciplinary action. Transaction Broker - in a transaction broker relationship the buyer or seller is not responsible for the acts of a licensee (page 58). Which statement applies to this situation? What is the total property tax exemption on her homesteaded property? Open All + A. Which brokerage relationship is BEST suited to this couple? Companies also need to be familiar with rules banning most forms of robocalling. 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. Exclusion from gain on sale of principal residence up to $250K for single person, $500K for married couple filing jointly. 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. Reproduction cost: 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. She requests a Florida sales associate license based on mutual recognition. which statement is true regarding the federal telemarketing law? If your lot frontage on the street is 90 feet, what is your portion of the special assessment? A couple are interested in purchasing residential investment property, and they have informed their sales associate that they want limited representation but do not want to be legally held responsible for the acts of a licensee. TILA/Reg Z makes "Bait and Switch" advertising a federal offense. Total $26,000, Tax advantages of owning a home do NOT include, Deductions of hazard insurance expense on a principal residence. Which statement concerning Department of Veterans Affairs (VA) mortgage loans is FALSE? The assessed value of an 88-year-old legally blind widow's condominium is $49,500. A developer advertises homes for sale with a total down payment of $2,000. Which expense is deducted to derive effective gross income? The street in front of your house is to be paved at a cost of $45 per foot. Which lien is classified as a voluntary lien? Criminals use this method as a way to obtain a victim's credit card information, identity, or bank account numbers. What is the adjusted sale price of the comparable? Accretion is the process of land buildup from water-borne rock, sand, and soil. 1.555.555.555 | influencer scandal 2022. The purpose of the Do Not Call registry is to give consumers a choice regarding telemarketing calls. Division of Florida Condominiums, Timeshares, and Mobile Homes is charged with providing complaint resolution for HOAs. 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. Which excerpt conforms to the rule regarding advertising? Federal government websites often end in .gov or .mil. Which statement is TRUE? Calculate the developer's percentage of profit (round to nearest whole percentage point). Which document must a prospective buyer of an existing (resale) condominium unit receive? Civil Rights Act of 1866 prohibits any type of discrimination based on race in any real estate transaction (sale or rental) without exception. A closing is set for July 15. (page 267). Looking for legal documents or records? A broker is NOT required by law to notify the FREC of conflicting demands in which situation? Division of Florida Condominiums, Timeshares, and Mobile Homes is charged with providing complaint resolution for HOAs. Which statement is TRUE regarding this situation? A local lender charged 4 percent interest plus 4 points on a conventional mortgage loan. (PAGE 190), Which statement concerning sections is FALSE? 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 seller refuses to sign a release of the buyer's earnest money deposit and demands receipt of the deposit for himself. 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. $276,060 total. (page 91). What is the state's intangible tax on a new mortgage of $10,000? Featuring infinite contrast ratio and VESA Display HDR True Back 400 for remarkably vivid colors and visuals bursting to life. Bush in 1991 and has remained the bedrock of federal telemarketing regulations ever since. In practice, the state list is integrated with the national do-not-call list maintained by the Federal Trade Commission (FTC). Within how many days must a landlord notify a tenant of intentions to claim part of the security deposit? Which statement is TRUE regarding this situation? The seller refuses to sign a release of the buyer's earnest money deposit and demands receipt of the deposit for himself. Informacin detallada del sitio web y la empresa: hotelroyalvasto.com, +39873801950 Hotel Royal Vasto Marina - Hotel 3 stelle sul mare a Vasto Marina in Abruzzo Ann. The associate continues to be employed by the same broker, who has an office in Atlanta. How much is the minimum cash investment on an FHA loan? 3.5% is the minimum down payment on a FHA loan. B) It is in the licensee's best interest not to request reimbursement from the fund, because the licensee's license would be suspended. Which statement is FALSE? A complaint legally sufficient if it contains facts indicating that a violation of any of the following has occurred. D) Principal payments remain constant while interest payments increase. . 2. Which statement is FALSE concerning federally related transactions? Functional Obsolescence - operational inadequacies, poor design, or changing tastes and preferences. Which statement is TRUE? Need for expert help; 4. The total square footage of the livable area is 2,600. 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. 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. Compared with the subject property, the comparable is built of superior materials ($20,000) and the comparable has more square footage ($25,000). The assessed value of an 88-year-old legally blind widow's condominium is $49,500. 156) Residential leases are usually gross leases. 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 . Licensees must notify the DBPR in writing within 10 days of a change in current mailing address. D) buyers of all single-family homes. Which statement is TRUE regarding Florida's telemarketing law? $52,000 x .07375 = 3,835 / 12 = 319.58 Lynn is preparing a classified ad for a listed property. If your lot frontage on the street is 90 feet, what is your portion of the special assessment? A qualified buyer offers to pay the $2,000 down, but the developer states that the $2,000 down homes are all sold. The company's phone number is 222-1010. I = RV 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. What was the approximate yield on the loan? 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. Which statement regarding a limited real estate partnership is TRUE? Securities registered pursuant to Section 12(g) of the Act: None. The procedures instituted must meet the following minimum standards: (1) Written policy. 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. They have created which type of estate or tenancy? D. (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. A real estate broker has been hired to manage an apartment complex on behalf of the landlord. A) The loan officer has three business days to give the loan applicant a copy of the information booklet. 3. use of real property or interests as a security for a loan or investment including mortgage-backed securities. D) Limited partners may participate in management activities of the limited partnership. Property taxes are paid in arrears - so seller has paid no taxes that month. Lynn Amherst is a sales associate for Excel Realty. B) The Department of Veterans Affairs partially guarantees VA mortgage loans. 0. Which excerpt conforms to the rule regarding advertising? Referred to as Florida's "Mini-TCPA," this new law, CS/SB 1120, updates the Florida Consumer Protection Law and the Florida Telemarketing Act. 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). 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. Listed here are some FTC laws about specific marketing practices and the promotion of products and services in specific industries. Write "Telemarketing Sales Rule ANPR, R411001" on your comment, and file your comment through https://www.regulations.gov. A commercial tenant pays a fixed rent each month. Ginnie Mae (GNMA) serves as a guarantor of mortgage-backed securities. (page 247). 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. Real estate licensees may not represent a CMA as an appraisal. Limited partners must register with the FREC under the limited partnership name. The city has agreed to pay 25 percent of the paving cost and will assess abutting properties for the remainder. 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. 45 x 90 x .75 = $3,037.50 / 2 = $1,518.75, A professional office center is purchased for $475,000. Which statement is FALSE concerning federally related transactions? A Poisson distribution might be a good approximation for which of the following? 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? On July 1, 2021, Florida enacted a comprehensive new telemarketing law that arguably goes beyond the federal Telephone Consumer Protection Act ("TCPA"). is exempt from the sales associate course; however, she must pass a written Florida-specific real estate law exam. 145 x 2 = 290 The overall capitalization rate (OAR) is determined by analyzing which two components of similar properties in the subject property's market area? (Round answer to nearest dollar. 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. merrick okamoto net worth Annual Gross: 450,000 - 350,000 = 100,000 x .03 = $3,000 Which expense is deducted to derive effective gross income? 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). Therefore, debited to seller and credited to buyer. Implement the comprehensive plan -local gov't exercise police power by regulating and controlling the use of land and structures within designated land-use district or zoned. (no more than $50 to an unlicensed person who is a tenant of the apartment complex for the referral fee. Therefore. tenants and buyers of all residential property built before 1978. 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. Accretion is the process of land buildup from water-borne rock, sand, and soil. writing bad checks, crimes of larceny). The day after signing the sale contract and reviewing the condominium documents, the buyers notify the broker that they want to cancel the contract. required by Florida law to verify that license applicants are current on child support payments. Calculate the proration and indicate who is debited and who is credited. (page 99), Moral Turpitude involves conduct contrary to honest, good morals, accepted custom (i.e. A closing is set for July 15. Limited partners must register with the FREC under the limited partnership name. Within how many days must a licensee notify the Department of Business and Professional Regulation of a change in current mailing address? Real estate licensees may not represent a CMA as an appraisal. 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? 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.