GOLD COAST 45 HOUR EXAM VERSION H
2026 FINAL PAPER COMPLETE QUESTIONS
AND ACCURATE ANSWERS
⩥The three types of operating expenses of an income property are
A)
fixed, debt service, and reserves for replacements.
B)
reserves for replacements, fixed, and variable.
C)
variable, income taxes, and fixed.
D)
reserves for replacements, variable, and income taxes. Answer: B)
reserves for replacements, fixed, and variable.
Explanation
Operating expenses are divided into three categories: fixed expenses,
variable expenses, and reserves for replacement.
⩥A person applies for a $300,000, 30-year fixed-rate mortgage loan at
4%. The mortgage payment factor is .00477415. Taxes for the year are
$4,000, and insurance is $2,400. Her monthly payment for principal,
interest, taxes, and insurance (PITI) will be
,A)
$1,432.25.
B)
$1,773.64.
C)
$1,273.64.
D)
$1,965.58. Answer: D)
$1,965.58.
58. $300,000 × .00477415 = $1,432.25 principal and interest. $4,000
taxes ÷ 12 months = 333.33. $2,400 insurance ÷ 12 months = 200.
$1,432.25 + $333.33 + $200 = $1,965.58 total PITI.
⩥A sales associate receives a good-faith deposit from a buyer on
Wednesday. The broker must deposit the funds into the escrow account
no later than the following
A)
Tuesday.
B)
Monday.
C)
Thursday.
,D)
Friday. Answer: B)
Monday.
FREC rules require that the sales associate must give the broker the
funds within one business day. The broker must deposit the funds in a
bank within three business days.
⩥The minimum legal description for a platted subdivision would include
A)
street address, lot and block number, and subdivision name.
B)
county, lot and block number, name of subdivision, and lot dimensions.
C)
subdivision name, county, reference to section, township, and range.
D)
subdivision name, county, lot and block number, plat book and page
number. Answer: D)
subdivision name, county, lot and block number, plat book and page
number.
⩥Antitrust laws
A)
, allow brokers to boycott cut-rate brokers' listings.
B)
prohibit commercial advertising in faxes.
C)
allow brokers to split up market areas.
D)
prohibit price fixing. Answer: D)
prohibit price fixing.
Explanation
Some of the prohibited actions under antitrust laws include:
conspiracy to set prices;
splitting up competitive market areas;
conspiring to boycott cut-rate brokers or otherwise interfering with their
business; and
requiring a minimum commission before allowing listings to be
circulated in any service, such as through an MLS.
⩥Hearing, understanding, and evaluation are part of what type of skill
set?
A)
Oral
2026 FINAL PAPER COMPLETE QUESTIONS
AND ACCURATE ANSWERS
⩥The three types of operating expenses of an income property are
A)
fixed, debt service, and reserves for replacements.
B)
reserves for replacements, fixed, and variable.
C)
variable, income taxes, and fixed.
D)
reserves for replacements, variable, and income taxes. Answer: B)
reserves for replacements, fixed, and variable.
Explanation
Operating expenses are divided into three categories: fixed expenses,
variable expenses, and reserves for replacement.
⩥A person applies for a $300,000, 30-year fixed-rate mortgage loan at
4%. The mortgage payment factor is .00477415. Taxes for the year are
$4,000, and insurance is $2,400. Her monthly payment for principal,
interest, taxes, and insurance (PITI) will be
,A)
$1,432.25.
B)
$1,773.64.
C)
$1,273.64.
D)
$1,965.58. Answer: D)
$1,965.58.
58. $300,000 × .00477415 = $1,432.25 principal and interest. $4,000
taxes ÷ 12 months = 333.33. $2,400 insurance ÷ 12 months = 200.
$1,432.25 + $333.33 + $200 = $1,965.58 total PITI.
⩥A sales associate receives a good-faith deposit from a buyer on
Wednesday. The broker must deposit the funds into the escrow account
no later than the following
A)
Tuesday.
B)
Monday.
C)
Thursday.
,D)
Friday. Answer: B)
Monday.
FREC rules require that the sales associate must give the broker the
funds within one business day. The broker must deposit the funds in a
bank within three business days.
⩥The minimum legal description for a platted subdivision would include
A)
street address, lot and block number, and subdivision name.
B)
county, lot and block number, name of subdivision, and lot dimensions.
C)
subdivision name, county, reference to section, township, and range.
D)
subdivision name, county, lot and block number, plat book and page
number. Answer: D)
subdivision name, county, lot and block number, plat book and page
number.
⩥Antitrust laws
A)
, allow brokers to boycott cut-rate brokers' listings.
B)
prohibit commercial advertising in faxes.
C)
allow brokers to split up market areas.
D)
prohibit price fixing. Answer: D)
prohibit price fixing.
Explanation
Some of the prohibited actions under antitrust laws include:
conspiracy to set prices;
splitting up competitive market areas;
conspiring to boycott cut-rate brokers or otherwise interfering with their
business; and
requiring a minimum commission before allowing listings to be
circulated in any service, such as through an MLS.
⩥Hearing, understanding, and evaluation are part of what type of skill
set?
A)
Oral
