Florida Broker Practice Exam

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Prepare for the Florida Broker Exam. Study with interactive quizzes, flashcards, and multiple choice questions that include hints and explanations. Ace your exam and start your real estate career today!

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What is the time frame for a broker to notify FREC about conflicting demands?

10 business days
15 business days
20 business days
30 business days

The correct answer is: 15 business days

A broker is required by law to notify the Florida Real Estate Commission (FREC) within a specific time frame when there are conflicting demands regarding a deposit. This process is crucial for maintaining compliance with Florida real estate regulations. The correct time frame for notification is 15 business days from the time of the conflicting demands. This ensures that the broker acts promptly to address the situation and protects the interests of all parties involved. Timely communication is essential in real estate transactions, especially when disputes arise, as it helps to maintain trust and transparency. The requirement to notify FREC within 15 business days helps to prevent potential legal issues and supports the smooth resolution of conflicts regarding deposit funds. By adhering to this timeline, brokers safeguard their professional standing and comply with regulatory expectations. Other options suggest shorter or longer time frames, which would not align with the established requirements set forth by FREC, emphasizing the importance of the 15 business days as the correct duration for notifying the commission about any conflicting demands.