FRC Real Estate Broker Examination case studies
FRC Real Estate Broker Examination · Put your knowledge to work in context.
The FRC Real Estate Broker Examination is the Florida state licensing exam a sales associate must pass to become a licensed real estate broker, and it is also the exam a broker takes when adding a brokerage or reactivating a license. It is administered through Florida's official testing vendor under the Florida Real Estate Commission's rules, and it is built for people who already hold an active Florida sales associate license and have completed the required broker prelicense course. The FRC Real Estate Broker Examination case studies are 5 cases and about 4,380 words.
1Team Advertising, an Unregistered Branch, and an Unlicensed Assistant
Marisol holds the broker's license for Gulfstream Realty, a 22-associate firm with a main office in Fort Myers and a satellite storefront in Cape Coral that opened six weeks ago. She never registered the Cape Coral location as a branch office, and no broker or broker associate is stationed there.
897 words, about 4 min2Security Deposits, Personal Funds, and a Stale Trust Reconciliation
Tyrone is the broker-owner of Gulfstream Property Management, which manages 38 residential units and holds tenant security deposits in a trust account titled 'Gulfstream Property Management Trust.' In a routine review, you find: (1) a 2,400 security deposit from a new tenant was deposited into the company operating account to cover a 2,300 plumbing invoice, with the remaining 100 left there; (2) Tyrone deposited his own 5,000 earnest money for a personal home purchase into the trust account 'for a few days' to avoid opening another account; (3) the last three-way reconciliation was completed 97 days ago; (4) a 1,850 tenant check sat in the office safe for eight days before deposit; and (5) a sales associate received a 3,000 buyer deposit on a co-op sale, held it for nine days, then delivered it to the listing broker because the contract named the listing broker as escrow agent. The associate says, 'The contract let me deliver it, so I didn't need to deposit it.' Tyrone asks what to do before the DBPR examination.
897 words, about 4 min3A Price Leak, a Same-Office Dual Transaction, and an Undisclosed Water Intrusion
Elena is a transaction broker at Suncoast Partners. She represents buyer Rahul on a 520,000 condo.
867 words, about 4 min4A Late Loan Application, a 6:02 P.M. Email, and a Refused Deposit Release
Nia signed a FAR/BAR AS IS Residential Contract to buy Tom's house for 450,000. The contract names Tom's listing broker as escrow agent and requires a 15,000 deposit, a 15-day inspection period, and a 45-day financing contingency.
860 words, about 4 min5An Assistance Animal, a Two-Per-Bedroom Policy, and a Voucher Refusal
Lourdes is the property manager for Palmetto Grove, a 120-unit apartment community. The owner's written policy says: maximum two persons per bedroom; no pets; minimum income three times rent; criminal background check on all applicants.
859 words, about 4 min