45 Hour Post License Florida Exam
questions and answers graded a+
A sales associate may not collect money in connection with a
real estate transaction except - ANSWERS>>>>>in the name of
the employer (cannot be payed by buyer or seller)
A sales associate receives compensation only from his or her
______. A sales associate can however be paid a portion of a
commission by a closing agent if such instructions have been
provided in writing by the _____. - ANSWERS>>>>>1. broker
2. broker
Single agents are held accountable for what four specific duties?
- ANSWERS>>>>>1. Confidentiality
2. Obedience
3. Loyalty
4. Full Disclosure
Appraisals utilized by federally regulated lenders in federally
related transactions be developed and reported in conformity
with the _______ - ANSWERS>>>>>Uniform Standards of
Professional Appraisal Practices (USPAP)
Assessed value is - ANSWERS>>>>>the value assigned by the
property appraiser for ad valorem tax purposes
,What is the difference between price and value? -
ANSWERS>>>>>Price is the amount that is actually paid in a real
estate transaction. It may not represent the market value.
The Principle of Contribution states that - ANSWERS>>>>>the
value of a component of the property is the amount it increases
the total value of the property (ex. renovating the kitchen to
increase the asking price)
Highest and Best Use Analysis - ANSWERS>>>>>every property
has a single use the produces the greatest income and return.
Comparable Sales Approach is used - ANSWERS>>>>>to estimate
the value indicated by the recent sales of comparable properties
in the market.
Matched Pair Sales Technique - ANSWERS>>>>>Locating other
properties that have been sold in the area, of which, one that has
a particular feature you are trying to value and another one that
does not. So, if you find a home with a swimming pool that sold
for $210,000 and then you find a home that doesn't have a
swimming pool, but is very similar, and sold for $200,000 you
can assume that the pool was worth $10,000.
A ________ is an estimate of value for a property owned by the
bank. - ANSWERS>>>>>Broker Price Opinion
, Properties owned by a bank due to foreclosure, deed in lieu of
foreclosure, or a short sale are called - ANSWERS>>>>>Real
Estate Owned (REO) properties
Prospecting is - ANSWERS>>>>>the process of looking for new
business; this process never stops. You should spend a majority
of your time prospecting for new business.
Farming - ANSWERS>>>>>Concentrating on one type of style of
property or on one particular neighborhood
A residential transaction os defined in F.S. 475 as the sale of any:
- ANSWERS>>>>>- Duplex
- improved residential property of four units or fewer, including
condominium units
-unimproved property intended for four units or fewer
- agricultural properties of ten acres or less
- leases with options to purchase all or a portion of improved
property of four or fewer residential units
- dispositions of business interests for property of four or fewer
residential units
absentee owners - ANSWERS>>>>>owners who buy income
property as investments and depend on professionals to manage
them
All appraisals, whether performed by a licensed appraiser or a
real estate licensee, must be developed and reported in
questions and answers graded a+
A sales associate may not collect money in connection with a
real estate transaction except - ANSWERS>>>>>in the name of
the employer (cannot be payed by buyer or seller)
A sales associate receives compensation only from his or her
______. A sales associate can however be paid a portion of a
commission by a closing agent if such instructions have been
provided in writing by the _____. - ANSWERS>>>>>1. broker
2. broker
Single agents are held accountable for what four specific duties?
- ANSWERS>>>>>1. Confidentiality
2. Obedience
3. Loyalty
4. Full Disclosure
Appraisals utilized by federally regulated lenders in federally
related transactions be developed and reported in conformity
with the _______ - ANSWERS>>>>>Uniform Standards of
Professional Appraisal Practices (USPAP)
Assessed value is - ANSWERS>>>>>the value assigned by the
property appraiser for ad valorem tax purposes
,What is the difference between price and value? -
ANSWERS>>>>>Price is the amount that is actually paid in a real
estate transaction. It may not represent the market value.
The Principle of Contribution states that - ANSWERS>>>>>the
value of a component of the property is the amount it increases
the total value of the property (ex. renovating the kitchen to
increase the asking price)
Highest and Best Use Analysis - ANSWERS>>>>>every property
has a single use the produces the greatest income and return.
Comparable Sales Approach is used - ANSWERS>>>>>to estimate
the value indicated by the recent sales of comparable properties
in the market.
Matched Pair Sales Technique - ANSWERS>>>>>Locating other
properties that have been sold in the area, of which, one that has
a particular feature you are trying to value and another one that
does not. So, if you find a home with a swimming pool that sold
for $210,000 and then you find a home that doesn't have a
swimming pool, but is very similar, and sold for $200,000 you
can assume that the pool was worth $10,000.
A ________ is an estimate of value for a property owned by the
bank. - ANSWERS>>>>>Broker Price Opinion
, Properties owned by a bank due to foreclosure, deed in lieu of
foreclosure, or a short sale are called - ANSWERS>>>>>Real
Estate Owned (REO) properties
Prospecting is - ANSWERS>>>>>the process of looking for new
business; this process never stops. You should spend a majority
of your time prospecting for new business.
Farming - ANSWERS>>>>>Concentrating on one type of style of
property or on one particular neighborhood
A residential transaction os defined in F.S. 475 as the sale of any:
- ANSWERS>>>>>- Duplex
- improved residential property of four units or fewer, including
condominium units
-unimproved property intended for four units or fewer
- agricultural properties of ten acres or less
- leases with options to purchase all or a portion of improved
property of four or fewer residential units
- dispositions of business interests for property of four or fewer
residential units
absentee owners - ANSWERS>>>>>owners who buy income
property as investments and depend on professionals to manage
them
All appraisals, whether performed by a licensed appraiser or a
real estate licensee, must be developed and reported in
