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). illegal, because the amount of compensation exceeds the allowable amount. The associate must, An owner of an apartment complex pays $100 to each tenant who refers a person who becomes a tenant. The day after signing the sale contract and reviewing the condominium documents, the buyers notify the broker that they want to cancel the contract. The following is a robust set of proactive and reactive rules to fraud-proof and protect your good name. Licensees must notify the DBPR in writing within 10 days of a change in current mailing address. 50 / 100. 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. The AVAILABILITY OF BUILDING MATERIALS INFLUENCES DEMAND is FALSE - has to do with supply. 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. 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. Less than $50,000 = $25,000 The brothers want their interest in the property to go to their spouses in the event of their deaths. 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. An EARNEST MONEY DEPOSIT is desirable to protect the seller, but it's not required to make a contract valid. The Telephone Consumer Protection Act (TCPA) is the primary federal law governing the regulation of telephone solicitations. The TCPA restricts the making of telemarketing calls and the use of automatic telephone dialing systems and artificial or prerecorded voice messages. C) notification that the energy-efficiency rating of the structure may qualify the buyer for an energy-efficient mortgage. The tenant has a tenancy. 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? Runners crossing the finish line in the Boston Marathon. 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. Listed here are some FTC laws about specific marketing practices and the promotion of products and services in specific industries. D) Federally related transactions include transactions for the sale, lease, or purchase of real estate. Savings associations can sell existing mortgage loans to which entity? Yes, because this is an example of bait-and-switch advertising, and it is illegal. The TCPA restricts telephone solicitations (i.e., telemarketing) and the use of automated telephone equipment. Main Menu 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? 485 x 76 = 36,860 C) The seller has breached the buyer's contract, and the buyer can sue to force the seller to take a lower price. Call Lynn Amherst, Excel Realty 333-2020 (cell). Which statement is TRUE regarding this situation? The FTC does not prohibit bait-and-switch advertising. The buyer did not accept the seller's counteroffer. Tax advantages of owning a home do NOT include A) deduction of hazard insurance expense on a principal residence. Calculate the developer's percentage of profit (round to nearest whole percentage point). A developer purchased two 145-front foot lots for $23,900 net each and divided them into three lots of equal front footage. The broker decides to appeal FREC's final order. B) Every general partner in a limited real estate partnership who performs real estate services must hold a real estate broker license. Distinguish between FASB Accounting Standards Updates and FASB Statements of Financial Accounting Concepts. Which statement is TRUE regarding this situation? Which statement MOST accurately describes the first year of a 30-year level-payment, fixed rate mortgage? 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. 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. Is the broker required to retain the brokerage relationship disclosure documents, and if so, for how long? (page 398), 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 (page 395). Reproduction cost: The city has agreed to pay 25 percent of the paving cost and will assess abutting properties for the remainder. A comparable property recently sold for $315,000. Widow: $500 Which document must be given to prospective purchasers only if purchasing a condo from a developer of 20 or more new residential condominium units? B. A) Limited partners must register with the FREC under the limited partnership name. An apartment building produces an effective annual gross income of $71,820. A commercial tenant pays a fixed rent each month. The land value is 20 percent of the total acquisition cost. A closing is set for July 15. Find legal resources and guidance to understand your business responsibilities and comply with the law. Which solution is NOT a remedy for the breach of a real estate sale contract? A) This is a violation of the Civil RIghts Act of 1866 B) This is a violation of the Title VIII of the Civil Rights Act of 1968 C) This is permissible under the FAir Housing Act D) This is permissible only if the church is registered as having exempt status with the DBPR C) (pg. D) penalty-free withdrawal from an IRA if the money is used as a down payment on a personal residence (first time home buyers only). The Internet connects marketers to customers across the country and around the world. a. Call Lynn Amherst, Excel Realty 333-2020 (cell). Which statement is TRUE regarding a title company holding the escrow funds? These presidential actions can include executive orders, presidential memoranda, and proclamations. NOI = Cap Rate x Value (sale price) The radon test indicates a high level of radon gas in the home, and the buyer gives written notice to cancel the contract. Which law prohibits racial discrimination in the sale or lease of all real property without exception? 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). Only 2 members must be consumer members who have never been brokers or sales associates. Which brokerage relationship is BEST suited to this couple? How much of the $414.94 monthly payment paid in month two will apply to principal? C) Limited partners are personally liable for the debts of the partnership. Lynn Amherst is a sales associate for Excel Realty. How much of the $414.94 monthly payment paid in month two will apply to principal? It does not require the seller, at the seller's expense to conduct and energy efficiency rating of the structure prior to closing. A broker is NOT required by law to notify the FREC of conflicting demands in which situation? The constitutional homestead law protects real property from forced sale to satisfy which type of delinquent debt? 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. The broker decides to appeal FREC's final order. Jalousie - window is almost impossible to seal; therefore, it's the lease energy efficient. Which excerpt conforms to the rule regarding advertising? tenants and buyers of all residential property built before 1978. Which statement is FALSE concerning federally related transactions? CREDIT TO THE BUYER ONLY - the buyer pays the binder deposit when the contract info is entered into - entered as a credit to the buyer since this portion of the purchase price has already been paid and will not be paid again. A court may award up to three times that amount for a willful or knowing violation. Online Advertising and Marketing. Stephanie T. Nguyen, Chief Technology Officer, Competition and Consumer Protection Guidance Documents, HSR threshold adjustments and reportability for 2023, A Century of Technological Evolution at the Federal Trade Commission, National Consumer Protection Week 2023 Begins Sunday, March 5, FTC at the 65th Annual Heard Museum Guild Indian Fair & Market - NCPW 2023, Franchises, Business Opportunities, and Investments, https://www.federalregister.gov/regulations/3084-AA98/telemarketing-sales-rule, 16 CFR Part 310: Telemarketing Sales Rule Fees; Final Rule Updating Fees Charged to Entities Accessing the National Do Not Call Registry, 16 CFR Part 310: Telemarketing Sales Rule Fees; Final Rule Updating Fees Charged to Entities Accessing the National Do Not Call Registry, 16 CFR Part 310: Telemarketing Sales Rule Fee; Final Rule That Updates Fees Charged To Entities Accessing the National Do Not Call Registry, Agency Information Collection Activities; Submission for OMB Review; Comment Request; Notice (Telemarketing Sales Rule), Telemarketing Sales Rule Information Collection Activities; Proposed Collection; Comment Request, 16 CFR Part 310: Telemarketing Sales Rule: Final Rule Amendments: Federal Register Notice Containing the Final Telemarketing Sales Rule Amendments and the Statement of Basis and Purpose, 16 CFR Part 310: Telemarketing Sales Rule Fees; Notice Advising That There Will BE No Fee Increase for Accessing the National Do Not Call Registry for Fiscal Year 2016, 16 CFR Part 310: Telemarketing Sales Rule; Extension of Comment Period for Rule Review to November 13, 2014, 16 CFR Part 310: Telemarketing Sales Rule Fees; Final Rule Amending TSR Fees Charged to Entities Accessing the National Do-Not-Call Registry, as Required by the Do-Not-Call Registry Fee Extension Act of 2007, 16 CFR Part 310: Telemarketing Sales Rule Federal Register Notice: Rule Review Request for Public Comments as Part of the FTCs Systematic Regulatory Review, Modified Ten-Year Regulatory Review Schedule; Notice of Intent to Request Public Comments, 16 CFR Part 310: Telemarketing Sales Rule; Notification of Termination of Caller ID Rulemaking Federal Register Notice, 16 C.F.R.