Question

Alec just received his Florida broker license. Assuming the Real Estate Recovery Fund balance is at $400,000, how much of his license fee went into the fund

Answer 1

The amount of Alec's license fee that went into the Real Estate Recovery Fund, which just received his Florida broker license, is $3.50.

What is the real estate license fee?

The real estate license fee in Florida costs $83.75.  This amount is paid to the Florida Real Estate Commission (FREC).

FREC is the government office regulating real estate education and licensure in Florida.  FREC is under the supervision of the Florida Department of Business and Professional Regulation (DBPR).

License fees of $3.50 are imposed as soon as the Real Estate Recovery Fund drops below $500,000.

Thus, the amount of Alec's license fee that went into the Real Estate Recovery Fund, which just received his Florida broker license, is $3.50.

Learn more about real estate license fees at brainly.com/question/26067240