45 HOUR POST LICENSE FLORIDA EXAM
PRACTICE TEST 2026 QUESTIONS WITH
CORRECT ANSWERS
◉ Dual Agency. Answer: An illegal arrangement whereby the broker
tries to represent both the buyer and the seller in the same
transaction.
◉ A residential sale is defined as. Answer: -property with four units
or fewer,
-unimproved residential property intended for use of four units or
fewer, or
-agricultural property of 10 acres or fewer.
◉ The three types of required residential brokerage notices include
the following:. Answer: -no brokerage relationship notice
-single agent notice
-consent to transition to transaction broker notice
◉ Appraising. Answer: The process of estimating the market value
of property.
,◉ Single Agent Notice. Answer: A disclosure form informing the
principal of the duties of his single agent.
◉ Transaction Broker. Answer: A licensee who has limited
representation to the buyer, the seller, or both in a transaction.
Instead of being an advocate for the buyer or the seller, the licensee
is working for the contract.
◉ Customer. Answer: A person who works with a sales associate or a
broker. While the person could be a principal, the usual definition is
that the broker is either a transaction broker or has no brokerage
relationship with the person.
◉ Transaction broker duties. Answer: -Dealing honestly and fairly.
-Accounting for all funds.
-Using skill, care, and diligence in the transaction.
-Disclosing all known facts that materially affect the value of
residential real property and are not readily observable to the buyer.
-Presenting all offers and counteroffers in a timely manner, unless a
party has previously directed the licensee otherwise in writing.
-Limited confidentiality, unless waived in writing by a party. The
transaction broker may not reveal to either party:that the seller
might accept a price less than the asking or list price,that the buyer
might pay a price greater than the price submitted in a written
offer,the motivation of any party for selling or buying property,that a
,seller or a buyer will agree to financing terms other than those
offered, andany other information requested by a party to remain
confidential.
-Any additional duties that are entered into by this or a separate
agreement.
◉ Principal. Answer: (1) The person who enters into a fiduciary
relationship with a single agent licensee. (2) The amount of money
remaining due on a mortgage loan.
◉ Fiduciary Relationship. Answer: A relationship of trust and
confidence between an agent and a principal.
◉ Singe AGent Duties. Answer: -Dealing honestly and fairly
-Loyalty
-Confidentiality
-Obedience
-Full disclosure
-Accounting for all funds
-Skill, care, and diligence in the transaction
-Presenting all offers and counteroffers in a timely manner, unless a
party has previously directed the licensee otherwise in writing
-Disclosing all known facts that materially affect the value of
residential real property and are not readily observable
, ◉ Buyer Brokerage Agreement. Answer: An agreement between a
buyer and a broker for the broker to provide services to a buyer for
compensation. The broker may be acting as a single agent, a
transaction broker, or a nonrepresentative.
◉ Consent To Transition To Transaction Broker Notice. Answer: A
disclosure form that allows a single agent to become a transaction
broker. The notice must be signed by the principal before the broker
can make the change.
◉ Fiduciary Relationship. Answer: -A relationship of trust and
confidence between an agent and a principal.
-Only single agent relationship creates this
◉ Role of Sales Associate. Answer: Sales associates are agents of
their registered brokers. If a seller's broker has a listing, that broker
and all the sales associates in that firm represent the seller.
◉ No brokerage relationship notice. Answer: A disclosure that must
be given by a licensee who does not represent a buyer or a seller
before entering into an agreement or showing a property. Need not
be signed.
PRACTICE TEST 2026 QUESTIONS WITH
CORRECT ANSWERS
◉ Dual Agency. Answer: An illegal arrangement whereby the broker
tries to represent both the buyer and the seller in the same
transaction.
◉ A residential sale is defined as. Answer: -property with four units
or fewer,
-unimproved residential property intended for use of four units or
fewer, or
-agricultural property of 10 acres or fewer.
◉ The three types of required residential brokerage notices include
the following:. Answer: -no brokerage relationship notice
-single agent notice
-consent to transition to transaction broker notice
◉ Appraising. Answer: The process of estimating the market value
of property.
,◉ Single Agent Notice. Answer: A disclosure form informing the
principal of the duties of his single agent.
◉ Transaction Broker. Answer: A licensee who has limited
representation to the buyer, the seller, or both in a transaction.
Instead of being an advocate for the buyer or the seller, the licensee
is working for the contract.
◉ Customer. Answer: A person who works with a sales associate or a
broker. While the person could be a principal, the usual definition is
that the broker is either a transaction broker or has no brokerage
relationship with the person.
◉ Transaction broker duties. Answer: -Dealing honestly and fairly.
-Accounting for all funds.
-Using skill, care, and diligence in the transaction.
-Disclosing all known facts that materially affect the value of
residential real property and are not readily observable to the buyer.
-Presenting all offers and counteroffers in a timely manner, unless a
party has previously directed the licensee otherwise in writing.
-Limited confidentiality, unless waived in writing by a party. The
transaction broker may not reveal to either party:that the seller
might accept a price less than the asking or list price,that the buyer
might pay a price greater than the price submitted in a written
offer,the motivation of any party for selling or buying property,that a
,seller or a buyer will agree to financing terms other than those
offered, andany other information requested by a party to remain
confidential.
-Any additional duties that are entered into by this or a separate
agreement.
◉ Principal. Answer: (1) The person who enters into a fiduciary
relationship with a single agent licensee. (2) The amount of money
remaining due on a mortgage loan.
◉ Fiduciary Relationship. Answer: A relationship of trust and
confidence between an agent and a principal.
◉ Singe AGent Duties. Answer: -Dealing honestly and fairly
-Loyalty
-Confidentiality
-Obedience
-Full disclosure
-Accounting for all funds
-Skill, care, and diligence in the transaction
-Presenting all offers and counteroffers in a timely manner, unless a
party has previously directed the licensee otherwise in writing
-Disclosing all known facts that materially affect the value of
residential real property and are not readily observable
, ◉ Buyer Brokerage Agreement. Answer: An agreement between a
buyer and a broker for the broker to provide services to a buyer for
compensation. The broker may be acting as a single agent, a
transaction broker, or a nonrepresentative.
◉ Consent To Transition To Transaction Broker Notice. Answer: A
disclosure form that allows a single agent to become a transaction
broker. The notice must be signed by the principal before the broker
can make the change.
◉ Fiduciary Relationship. Answer: -A relationship of trust and
confidence between an agent and a principal.
-Only single agent relationship creates this
◉ Role of Sales Associate. Answer: Sales associates are agents of
their registered brokers. If a seller's broker has a listing, that broker
and all the sales associates in that firm represent the seller.
◉ No brokerage relationship notice. Answer: A disclosure that must
be given by a licensee who does not represent a buyer or a seller
before entering into an agreement or showing a property. Need not
be signed.
