which statement is true regarding the federal telemarketing law?

2. Servicing disclosure statement. Which statement MOST accurately describes the first year of a 30-year level-payment, fixed rate mortgage? Only 2 members must be consumer members who have never been brokers or sales associates. D) Federally related transactions include transactions for the sale, lease, or purchase of real estate. Recording it in the public records shows that the mortgage lien has been removed. The broker must retain the disclosure documents for five years even if a nonresidential transaction that used designated sales associates fails to close. Persons or entities making calls for telemarketing purposes must have a written policy, available upon demand, for maintaining a do-not-call list. Homestead protection does not prevent foreclosure for nonpayment of property taxes, special assessments, mortgages, vendors' liens, or construction liens secured with homestead property. D) Buyer finds another property at a lower price and demands a refund of the earnest money deposit. Which law prohibits racial discrimination in the sale or lease of all real property without exception? The building has an effective age of five years. C) The loan officer can be fined by the Department of Housing and Urban Development (HUD). (page 247). Which list of appraisal methods is unique to the appraisal of business enterprises? A buyer and seller enter into a contract for sale and purchase of a home. What is the annual rent for the year if the annual gross sales are $450,000? Which type of window is the least energy efficient? What is the TCPA? - Contact Center Compliance Runners crossing the finish line in the Boston Marathon. Code of Federal Regulations: Restrictions on Telemarketing and State law (CGS 42-288a) requires DCP to establish and maintain a listing of consumers who do not wish to receive unsolicited telephone sales calls from firms offering goods or services. 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. Working Advantage - Employee Discounts How Laws Are Made | USAGov The Florida Consumer Protection Law is located at Fla. Stat. C) Limited partners are personally liable for the debts of the partnership. a) The name on the real estate brokerage firm for which the associate works must be printed on the key rings b) As long as the sales associate is paying the entire cost of the rings, he can put any wording on them he chooses. The licensee was unable to collect on the judgment and is considering submitting a claim to the Real Estate Recovery Fund. AND, IT WILL PROTECT THE NEW OWNER (IF TRANSFERRED) UP TO THE UNPAID BALANCE OF THE MORTGAGE LOAN. 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 closing is set for July 15. The Internet connects marketers to customers across the country and around the world. 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)? 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. It's one mile square of 640 acres, Range 1 West is located immediately west of the principal meridian and base line. a. The landlord pays the property taxes, hazard insurance, and maintenance expenses. Statutes change, so checking them is always a good idea. 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. 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. How much of the $414.94 monthly payment paid in month two will apply to principal? Mortgage interest When a loan is paid off in a lien theory state, which instrument should the lender prepare and give to the borrower? Which statement is TRUE regarding this situation? 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)? CBS vs. CIA A brokerage firm represents a seller as a single agent. D) Credit unions are exempt from the Real Estate Settlement Procedures Act. Which statement is TRUE regarding comparative market analyses (CMAs)? Which statement is TRUE regarding this situation? 633.33 debited to seller and credited to buyer. 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. We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. 8 a.m. A person who rents lots in a mobile home park. 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. 51,904.64 x .07375 = 3,830.56 / 12 = 319.21 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. Call Lynn Amherst, Excel Realty 333-2020 (cell). Many states also have laws regulating telemarketing. allows a sales associate or broker associate employed by an owner-developer to sell property for all the affiliated entities owned by the developer. Complaint resolution for homeowner associations is provided by which division of Florida government? Wattage is the measurement of the amount of energy consumed. 19 - Just Test Questions Flashcards | Chegg.com 3.5% is the minimum down payment on a FHA loan. Which statement is TRUE regarding Florida's telemarketing law? The garage is 485 square feet. astros vs yankees cheating. Yes, because this is an example of bait-and-switch advertising, and it is illegal. c. There are no federal laws that regulate This problem has been solved! Final Exam Flashcards | Chegg.com 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. $276,060 total. is exempt from the sales associate course; however, she must pass a written Florida-specific real estate law exam. Range 1 West is located immediately west of the principal meridian and base line. Federally related transactions do not include transactions associated with refinancing real property. Calculate the reproduction cost new of the structure. The Georgia licensee. The seller countered at $250,000. Which excerpt conforms to the rule regarding advertising? Includes: 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. Real estate licensees may not represent a CMA as an appraisal. A person who rents lots in a mobile home park. content.edgar-online.com Lynn's home phone number is 333-2020. C) 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. The seller refuses to sign a release of the buyer's earnest money deposit and demands receipt of the deposit for himself. Accretion is the process of land buildup from water-borne rock, sand, and soil. Which lien is classified as a voluntary lien? 45 x 90 x .75 = $3,037.50 / 2 = $1,518.75, A professional office center is purchased for $475,000. Florida's "Mini-TCPA" May Be More Broad and More Severe Than Its 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. How many members of the Florida Real Estate Commission must be consumer members who have never been real estate brokers or sales associates? These presidential actions can include executive orders, presidential memoranda, and proclamations. 5. 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. 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 brokerage relationship is BEST suited to this couple? What is the adjusted sale price of the comparable? Within how many days must a landlord notify a tenant of intentions to claim part of the security deposit? Tax advantages of owning a home do NOT include A) deduction of hazard insurance expense on a principal residence. The brokerage can work with the buyer, in the same transaction. How will the property taxes be entered on the closing statement? The land value is 20 percent of the total acquisition cost. Which individual is exempt from licensure under Florida Statute 475? Residential leases are usually gross leases. The sales associate must notify the DBPR in writing within 60 days regarding her change in residency. A duplex is scheduled to close on September 10. Learn more about your rights as a consumer and how to spot and avoid scams. 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? Unit Exam 2 Flashcards | Quizlet 145 x 2 = 290 (2) Training of personnel engaged in telemarketing. A commercial tenant pays a fixed rent each month. B. call Sue for up to 18 months after she purchases a property through the brokerage firm C. call Sue if she has placed a "for sale" sign in the yard This arrangement is, illegal, because the amount of compensation exceeds the allowable amount. Listed here are some FTC laws about specific marketing practices and the promotion of products and services in specific industries. which statement is true regarding the federal telemarketing law? Is this transaction covered under Truth in Lending Act? 1. 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. EGI - OPEX = NOI Which statement is TRUE regarding this situation? 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 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. Florida Expands Telemarketing Laws - The National Law Review Main Menu Find the resources you need to understand how consumer protection law impacts your business. 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. (Pdf) Southern District of Florida Federal Trade Commission, Southern Total $26,000, Tax advantages of owning a home do NOT include, Deductions of hazard insurance expense on a principal residence. All natural persons in the United States who, within four years preceding the filing of this case, received more than one telephone solicitation call from PGI within a 12-month period. What is the total property tax exemption on her homesteaded property? Using the lump-sum age-life method, find the depreciated value of the building. Property taxes are paid in arrears - so seller has paid no taxes that month. The tenant has a tenancy. The garage is 485 square feet. How much is the minimum cash investment on an FHA loan? what is edgar xbrl validation errors and warnings. 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. Calculate the developer's percentage of profit (round to nearest whole percentage point). 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. NOI = Cap Rate x Value (sale price) The .gov means its official. (page 176). 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. The developer sold the lots for $250 per front foot. A qualified buyer offers to pay the $2,000 down, but the developer states that the $2,000 down homes are all sold. Which business would be classified as a service industry? B) The loan applicant can sue the credit union for violating the Fair Housing laws. 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. The broker decides to appeal FREC's final order. statement is TRUE. On June 29, - stradanove.net 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. The loan officer has three business days to give the loan applicant a copy of the information booklet. Which statement is TRUE regarding this situation? What was the approximate yield on the loan? C) Principal comprises the majority of the payments. Which statement is TRUE regarding the federal telemarketing law? Maccas case study - Good - OPERATIONS role of operations management Use our visualizations to explore scam and fraud trends in your state based on reports from consumers like you. Deeds and Mortgage Instruments C) The real estate licensee must show that the license was active at the time the transaction was entered into. 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). Ann. Section 31 would be located in which corner? Accretion is the process of land buildup from water-borne rock, sand, and soil. A broker is NOT required by law to notify the FREC of conflicting demands in which situation? A buyer has applied for a 20-year mortgage of $52,000 at 7 3/8 percent interest. PGI - V&C = EGI Which statement is TRUE regarding comparative market analyses (CMAs)? Which document must be given to prospective purchasers only if purchasing a condo from a developer of 20 or more new residential condominium units? False - All VA mortgage loans contain a due on sale clause (page 265), 3.5% is the minimum down payment on a FHA loan. 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. The contract is contingent on a radon test. Illiquidity; 2. 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. 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. 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. The seller is still owed the entire amount of the purchase price. 63 hour Real Estate practice Exam (first 50) Flashcards | Quizlet The seller told her broker that she was revoking the counteroffer and accepting the buyer's original offer. The RE licensee is not eligible to make a claim against the Real Estate Recovery Fund. How will the property taxes be entered on the closing statement? After the closing, the licensee discovered that the seller's broker had failed to disclose latent defects. Which item would be classified as a fixed expense in the calculation of net operating income? 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. (page 219). A Georgia real estate licensee moved to Miami five months ago. PSA FL law does not require that prospective buyers and seller be represented. 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. ahhhhhhh I wannnnnnaaaaaa slllleeeeeeeppppp - Chegg Federal government websites often end in .gov or .mil. 950 / 30 = 31.67 x 20 = $633.33 Real estate licensees may contact their former customers for up to 18 months. Recording it in the public records shows that the mortgage lien has been removed. D) The real estate licensee is not eligible to make a claim against the Real Estate Recovery Fund. B) Federally related transactions do not include transactions associated with refinancing real property. 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. The answer is ACCRETION. 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 buyer has applied for a 20-year mortgage of $52,000 at 7 3/8 percent interest. Stay of Enforcement, if granted, stops the enforcement of a suspension or revocation in the final order pending the outcome of the appeal process. The day after signing the sale contract and reviewing the condominium documents, the buyers notify the broker that they want to cancel the contract. 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 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. Which property is immune from property taxes? The FALSE statement is the a SECTION contains 43,560 sf. Connected Investors robocalls $2M class action settlement For copies of the rules and commentaries relevant to your Internet enterprise, contact: Consumer Response Center, Federal Trade Commission, Washington, DC 20580; toll-free: 1-877-FTC-HELP begin_of_the_skype_highlighting 1-877-FTC-HELP end_of_the_skype_highlighting . (PDF) SEC Complaint: Darrel West and Own My Travel, LLC; 2016-12-06 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. 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. 32, No.9 -FREEREE Advocate News Online: www.advocatenews.net OCATOCAT www.advocatenews.net Mayor announces he's leaving at end of year City councillors offer praise of Arrigo's tenure By Barbara Taormina M ayor Brian Arrigo jolted the city this week when he announced he will be stepping down from the Mayor's Office at the end of this term. Which statement is TRUE regarding the federal telemarketing law? A buyer offered $225,000 for a seller's property. Which entity is a guarantor of mortgage-back securities? Annual Gross: 450,000 - 350,000 = 100,000 x .03 = $3,000 The telemarketing class action lawsuit accuses Connected Investors of violating the TCPA with unsolicited prerecorded voice message advertisements. A comparable property recently sold for $315,000. Online Advertising and Marketing. 640/4/4 = 40 Find legal resources and guidance to understand your business responsibilities and comply with the law. Which characteristic is a disadvantage of investing in real estate? It does not require the seller, at the seller's expense to conduct and energy efficiency rating of the structure prior to closing. The seller refuses to sign a release of the buyer's earnest money deposit and demands receipt of the deposit for himself. B) The buyer and seller have entered into a contract for $225,000. The mortgagee's title insurance policy is ISSUED FOR THE AMOUNT OF THE MORTGAGE LOAN AND IS TRANSFERABLE. 8-K: Oak Street Health, Inc. - MarketWatch 2. which statement is true regarding the federal telemarketing law? 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). Total is 60 Acres. How much is the minimum cash investment on an FHA loan? Brad Dye's Paging Information Resource Five-Star Reviews Enforcement Regulations from the FTC which statement is true regarding the federal telemarketing law? A sales associate moves from Jacksonville, Florida, to Atlanta, Georgia. Arizona Telemarketing Fraud Laws - FindLaw The day after signing the sale contract and reviewing the condominium documents, the buyers notify the broker that they want to cancel the contract. 2. refinancing of real property or interests in real property The Division of Marketing Practices periodically issues informal staff advisory opinions in response to requests for interpretation of the Telemarketing Sales Rule. D. Exclusion from gain on sale of principal residence up to $250K for single person, $500K for married couple filing jointly. Which business would be classified as a service industry? The constitutional homestead law protects real property from forced sale to satisfy which type of delinquent debt? A real estate broker has been hired to manage an apartment complex on behalf of the landlord. www.sec.gov FLORIDA REAL ESTATE UNIT 5 Flashcards | Quizlet D) notification that the buyer may order an energy-efficiency rating on the building. (page 364), Liquidation analysis, reproduction cost analysis, and income capitalization analysis (and comparable sales analysis), Management considerations is one of the disadvantages of investing in RE. Companies also need to be familiar with rules banning most forms of robocalling. Ann. allows a sales associate or broker associate employed by an owner-developer to sell property for all the affiliated entities owned by the developer. Property taxes are paid in arrears - so seller has paid no taxes that month. . Mortgage origination fees (points) The statement is TRUE. Remainderman - 3rd party fee simple ownership at end of life estate by wife. Distinguish between FASB Accounting Standards Updates and FASB Statements of Financial Accounting Concepts. Widow: $500 The Telephone Consumer Protection Act (TCPA) was passed in 1991 in response to consumer complaints of increased marketing calls and automated, pre-recorded messages. 414.94 - 319.21 = 95.94 principal amount for month 2. D) Principal payments remain constant while interest payments increase. Lynn is preparing a classified ad for a listed property. Which requirement is one of the elements of a valid real estate contract? Business Combination Agreement and Plan Of Reorganization, dated February 24, 2023 from Oxbridge Acquisition Corp. filed with the Securities and Exchange Commission. Which type of listing allows the seller to list the property with other brokers? Civil Rights Act of 1866 prohibits any type of discrimination based on race in any real estate transaction (sale or rental) without exception. A Georgia real estate licensee moved to Miami five months ago. Bush in 1991 and has remained the bedrock of federal telemarketing regulations ever since. Telemarketing | Federal Communications Commission Is this transaction covered under Truth in Lending Act? Telemarketing - Florida Commissioner of Agriculture Good Faith Estimate (GFE) 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) Monthly payments remain constant, and the interest portion comprises the majority of the payments. 3. Use the actual number of days in the closing month when determining the time line. 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.

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