Choose the individual who would be eligible for membership in the Florida Real Estate Commission. broker who held an active license for ten years and has been retired (inactive license) for the past two years member of the general public who had a real estate license 15 years ago active sales associate who got her license one year ago broker who has had an active license for the past five years and is over the age of 65
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- D) The title company decides which index type the ARM will use when an applicant closes the loan, and the index type generally will change after loan closing. A Loan Estimate is considered expired and is permitted to be revised by the creditor without additional justification if the consumer indicates an intent to proceed with the transaction more than: A) 1 business day after the Loan Estimate was provided. B) business days after the Loan Estimate was provided. C) 7 business days after the Loan Estimate was provided. D) 10 business days after the Loan Estimate was provided.Choose the individual who would be eligible for membership in the Florida Real Estate Commission. member of the general public who had a real estate license 15 years ago broker who held an active license for ten ears and has been retired (inactive license) for the past two years active sales associate who got her license one year ago broker who has had an active license for the past five years and is over the age of 65Jeremy is considering a corporate recapitalization as a gifting technique and has come to his financial planner for more information. Which of the following statements regarding corporate recapitalization are CORRECT? The stock is recapitalized and divided into nonvoting preferred stock and voting common stock. Jeremy retains control of the corporation through the voting rights associated with his preferred stock. Recapitalization can be used in any corporation. The gift of stock given to the junior family members may qualify for valuation discounts. A) II, III, and IV B) I and III C) II and IV D) I and II
- A 71% leased 71,000 square foot office building in San Diego was acquired in February 2017 by a California LLC for $39 million. The property’s building/land ratio was determined to be 90/10 at the time of acquisition by the LLC’s accountant. The property was sold in February 2023 for $80 million after leasing the building to 92% occupancy. Tax deductible selling costs included a brokerage fee that was 4% of the sale price plus legal fees and other closing costs of $200,000. What was the total amount of the capital gain plus depreciation recapture upon which tax must be paid on the sale? a. $37,600,000 b. $43,000,000 c.. $41,000,000 d. $46,400,000A 71% leased 71,000 square foot office building in San Diego was acquired in February 2017 by a California LLC for $39 million. The property’s building/land ratio was determined to be 90/10 at the time of acquisition by the LLC’s accountant. The property was sold in February 2023 for $80 million after leasing the building to 92% occupancy. Tax deductible selling costs included a brokerage fee that was 4% of the sale price plus legal fees and other closing costs of $200,000. What was the total amount of the capital gain plus depreciation recapture upon which tax must be paid on the sale? $37,600,000 $43,000,000 $41,000,000 $46,400,000As a member of a local Realtors® association, Broker Mel is generally obligated to place all her listings on the MLS. On one recent occasion, she did not. Evaluate the following scenarios and select the one that provides a justifiable reason for Mel's actions. Mel's client lives in a high-traffic area where a yard sign will bring in all the buyer prospects they could hope for, so an MLS listing is unnecessary. Mel's seller-client is a professional athlete who wants to keep his transaction very private and has asked that his property not be put on the MLS. Mel's client has an immaculate home that will sell easily and fast without being published on the MLS. Mel's client is on a very tight budget and is not willing to pay much in the way of commission on the sale of their home.
- Several months ago, Amanda Potter became a trustee of Breakthrough, a UK charity that supports educational and cultural initiatives for underprivileged children. Potter was invited to join the board of trustees by the board chairman, a long-time friend. In the time since her appointment, Potter has begun to learn about the activities of the charity; however, there are still aspects of operations and funding about which she is not altogether clear. There is some disagreement between trustees about whether the main area of activity for the charity should be educational or whether it should focus more on cultural activities. The board of trustees has met only twice since her appointment, and Potter now understands that many of the policy decisions are made by the chief executive of the organisation and his small management team. Since her appointment, Potter feels that she has done very little as a trustee. She is also annoyed that she has twice been asked to find individuals or companies…How many of the following are not a "tax" death benefits dependant of a deceased person: the deceased person’s spouse the deceased person’s former spouse the deceased person’s child under 18 years of age any person with whom the deceased person had an “interdependency relationship” just before he or she died; and any person who was financially dependent on the deceased just before the deceased person died? 0 1 2 3 4 53. Regulation of private pension plans Which of the following are provided by federal regulations of private pension plans? Check all that apply. Insurance of all participants in private defined-benefit plans to receive their benefits upon retirement Transferability of vested pension funds upon a change of employment Insurance of only executive employees participating in private defined-benefit plans to receive their benefits upon retirement Insurance of all participants in private defined-contribution plans to receive their benefits upon retirement Tax benefits only for executive employees Which of the following are the characteristics of the Pension Benefit Guaranty Corporation (PBGC)? Check all that apply. Has no regulatory powers May act as the pension fund manager Affected by economic conditions Has vast regulatory powers
- An additional contribution by the owner to the business is called a(n): 23 OWithdrawal. Contribution. OInvestments OLiability.Which one (1) of the following statements is true regarding Replacement Cost insurance? OA) A professional appraisal is required by insurers before they will insure any property for its Replacement Cost. OB) Most insurers do not require an insured to replace a damaged property as a condition to be indemnified for its Replacement Cost. OC) A condition of this coverage is that replacement must be with materials of similar kind and quality. OD) Only commercial properties can be insured for their Replacement Cost.These facts will be used for questions 1 - 10. A, an individual, transfers land with an adjusted basis of 40 and fair market value of 100, to Newco in exchange for 50 Newco shares, fair market value of 100. B, an individual, transfers equipment with an adjusted basis of 70 and fair market value of 110 to Newco in exchange for 50 Newco shares, fair market value 100, plus GM (General Motors) stock with a fair market value of 10. 1. What is A's realized gain or loss? a loss 10 30 O 60 none of the above What is A's recognized gain or loss? Oa loss 10 30 O 60 none of the above What is B's realized gain or loss? a loss 10 O 30 60 none of the above