Florida Broker Practice Exam

Which term refers to a business name used that is different from the legal name of the person doing business?

1. Fictitious name

2. Trade name

3. DBA

4. Corporation sole

The correct answer is: Trade name

The term that refers to a business name used that is different from the legal name of the person doing business is a trade name. A trade name is typically used in marketing and branding a business, allowing the business owner to operate under a name that may be more recognizable or appealing than their legal name. Trade names can also create a specific identity for a business, distinguishing it from other entities in the same industry. In many jurisdictions, including Florida, a trade name must be registered with the appropriate state or local agency to ensure there are no conflicts with other businesses. The other terms mentioned are related but do not precisely fit the definition provided in the question. Fictitious names and DBA (Doing Business As) essentially describe the same idea, but the term "trade name" is more commonly used in the context of branding and marketing. Corporation sole, on the other hand, refers to a specific type of legal entity and does not apply in this context.