50 Most Asked Questions On Florida
Real Estate State Exam
1. Which of the following describes leverage?
a. Leverage is the same as cash flow.
b. Leverage is the use of borrowed funds to purchase assets or to finance an investment.
c. Leverage can only be positive.
d. Leverage is when an investor uses his equity to finance an investment. - Answer-b
2. How is the binder deposit shown on the Closing Disclosure Form?
a. Credit to the buyer, debit to the seller
b. Credit to the seller
c. Credit to the buyer
d. Debit to the buyer, credit to the seller - Answer-c
3. What is the status of a sales associates' license if he/she does not complete the required post
licensing education prior to his/her first renewal cycle?
a. Involuntary inactive
b. Void and inactive
c. Suspended
d. Null and void - Answer-d
4. Which of the following is not true concerning kickbacks.
, a. Not all kickbacks are illegal.
b. A real estate licensee may not be paid a fee for referring buyers to a title company.
c. Kickbacks cannot violate RESPA (Real Estate Settlement Procedures Act).
d. All kickbacks are illegal. - Answer-d
5. When a lender declares all the unpaid balance due and payable as a result of default, the lender is
exercising which clause in a mortgage?
a. Due-on-sale clause
b. Escape clause
c. Acceleration clause
d. Estoppel clause - Answer-c
6. Which mortgage clause allows the mortgagee the right to demand the outstanding loan balance plus
accrued interest in the event that the borrower sells or transfer any interest in the property without the
lenders prior written consent?
a. Due-on-sale Clause
b. Escape clause
c. Acceleration clause
d. Estoppel clause - Answer-a
7. Which of the following statements concerning market value is true?
a. Market value is the most probable price a property should bring in a competitive and open market
under all conditions, requisite to a fair sale under certain guidelines published by Fannie Mae and
Freddie Mac.
b. Market value is the same as price.
c. Market value is the value an investor would typically pay.
d. Market value is the same as the cost of the property. - Answer-a
Real Estate State Exam
1. Which of the following describes leverage?
a. Leverage is the same as cash flow.
b. Leverage is the use of borrowed funds to purchase assets or to finance an investment.
c. Leverage can only be positive.
d. Leverage is when an investor uses his equity to finance an investment. - Answer-b
2. How is the binder deposit shown on the Closing Disclosure Form?
a. Credit to the buyer, debit to the seller
b. Credit to the seller
c. Credit to the buyer
d. Debit to the buyer, credit to the seller - Answer-c
3. What is the status of a sales associates' license if he/she does not complete the required post
licensing education prior to his/her first renewal cycle?
a. Involuntary inactive
b. Void and inactive
c. Suspended
d. Null and void - Answer-d
4. Which of the following is not true concerning kickbacks.
, a. Not all kickbacks are illegal.
b. A real estate licensee may not be paid a fee for referring buyers to a title company.
c. Kickbacks cannot violate RESPA (Real Estate Settlement Procedures Act).
d. All kickbacks are illegal. - Answer-d
5. When a lender declares all the unpaid balance due and payable as a result of default, the lender is
exercising which clause in a mortgage?
a. Due-on-sale clause
b. Escape clause
c. Acceleration clause
d. Estoppel clause - Answer-c
6. Which mortgage clause allows the mortgagee the right to demand the outstanding loan balance plus
accrued interest in the event that the borrower sells or transfer any interest in the property without the
lenders prior written consent?
a. Due-on-sale Clause
b. Escape clause
c. Acceleration clause
d. Estoppel clause - Answer-a
7. Which of the following statements concerning market value is true?
a. Market value is the most probable price a property should bring in a competitive and open market
under all conditions, requisite to a fair sale under certain guidelines published by Fannie Mae and
Freddie Mac.
b. Market value is the same as price.
c. Market value is the value an investor would typically pay.
d. Market value is the same as the cost of the property. - Answer-a
