Florida Real Estate Practice Exam

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Question: 1 / 290

When is an administrative fee acceptable, according to RESPA?

When it is a required service offered by an affiliated business.

When it is split with the settlement service provider.

When it is undisclosed.

When you are the only one receiving the fee and have actually performed some service in addition to the one provided by the SSP.

An administrative fee is considered acceptable according to RESPA, or the Real Estate Settlement Procedures Act, when the fee is paid by the party who actually provided the service. This means that the fee can only be charged to the person who has performed an additional service, in addition to the service provided by the settlement service provider. In contrast, options A and B involve the fee being shared or required by others, which would not be acceptable under RESPA. Option C is also incorrect as it suggests that the fee is undisclosed, which is a violation of RESPA regulations.

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