Aceable Agent Florida Real Estate Course Study Guide and Exam Preparation 1 of 31 2026-03-24
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1. The FREC has 30 days to check for errors and omissions Kaitlyn is applying for her
in applications and notify the applicant about the is- Florida sales associate li-
sue. cense. How many days
does the FREC have to no-
tify her of any errors or
omissions in her applica-
tion?
2. A marketable title is a title that is free from significant Odonis' client is con-
encumbrances or defects (such as liens) that might cerned about the mar-
otherwise prevent a purchaser from enjoying or even- ketability of their title.
tually selling the property. Odonis advises that if they
want their title to be mar-
ketable, they need to focus
on clearing up all:
3. Common Law Can be traced back to cus-
toms and precedent es-
tablished by court deci-
sions over the centuries in
England
4. Alfie bought the home subject to the mortgage. (A Which of these situations
property sold subject to the existing loan retains its BEST describes a buyer as-
original loan. The seller is responsible for making the suming a mortgage?
payments to the bank, and the buyer makes the pay-
ments to the seller. The seller transfers the title to
the buyer, but retains responsibility for the loan. The
bank does not sign off on this agreement — it is done
under the table between the buyer and seller.) Alice is
the only one who assumed the loan. (Assumption is
when a buyer takes over a loan from a seller with the
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lender's permission. The loan is officially transferred
to the buyer with the title of the property, and the
buyer makes the remainder of the loan payments.) The
difference between assuming a mortgage and buying
subject to is that the lender is not aware of Alfie's
subject-to mortgage, and did not approve the transfer.
5. Offering tax preparation services for borrowers is not What is one way lenders
something lenders do. Collecting property taxes in an prevent other liens from
escrow account and paying them for the borrower hopping ahead of them in
ensures that a tax lien won't take priority in case of the debt priority line?
default.
6. A thin market indicates that there are few buyers and Real estate licensee Jamie
sellers in an area. An increase in building permits discovers that there is an
means that there will be an increase in supply. increase in the number of
building permits being is-
sued in her town. What
can she expect will result
from this?
7. Real estate is land and improvements. Real property is How is real estate different
land, improvements, and the bundle of rights. from real property?
8. The use of designated sales associates in a nonresi- Why does each party in a
dential in-house transaction allows a brokerage to of- designated sales associate
fer fiduciary representation to both sides of the trans- transaction have two dis-
action under certain circumstances. One of those cir- closures to sign?
cumstances is that parties to the in-house transaction
must sign a disclosure notice consenting to the use of
designated sales associates, and declaring that they
are financially eligible (both parties must have assets
of one million dollars or more).
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9. The fact that there are two parties and in an in-house In what kind of in-house
transaction means that this must be a nonresidential transaction can there be
transaction with designated sales associates. This is two parties, each with a li-
only allowed if the parties have assets equal to or in censee providing fiducia-
excess of one million dollars. ry levels of representation?
What would that tell you
about the assets held by
the two parties?
10. Use the following formula to calculate the percentage Ozzy bought a house.
put down on a property: Down payment ÷ Purchase He put down $85,000.
price = Percentage down. $85,000 ÷ $320,000 = 0.265, The purchase price of
or 26.5% the house was $320,000.
What percentage did Ozzy
put down?
11. Large residential properties typically require a large Carmela is part of an in-
amount of hands-on management and upkeep. The vestment group that wants
advantage is that the residential property market is to purchase a property.
less volatile than commercial markets. She's debating between a
large residential develop-
ment and an office space.
When you're laying out the
pros and cons of each kind
of property, what is one
advantage of residential
property you would share
with her?
12. A multiple offer situation occurs when more than one Stevie receives an offer for
party submits an offer on a single property. There his house. He takes part
could be two people, or, in some hot markets, more of that offer and adds new
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Aceable Agent Florida Real
Estate Course Study Guide
and Exam Preparation
Guidehttps://www.stuvia.com/dashboard!@_)#*)(@$)($@*($@)($@*_Page 1
Page 1 of 31 Aceable Agent Florida Real Estate Course Study Guide and Exam Preparation.pdf
, Aceable Agent FL RE Course 2 of 31 2026-03-24
Aceable Agent FL RE Course
Study online at https://quizlet.com/_bzbyuz
1. The FREC has 30 days to check for errors and omissions Kaitlyn is applying for her
in applications and notify the applicant about the is- Florida sales associate li-
sue. cense. How many days
does the FREC have to no-
tify her of any errors or
omissions in her applica-
tion?
2. A marketable title is a title that is free from significant Odonis' client is con-
encumbrances or defects (such as liens) that might cerned about the mar-
otherwise prevent a purchaser from enjoying or even- ketability of their title.
tually selling the property. Odonis advises that if they
want their title to be mar-
ketable, they need to focus
on clearing up all:
3. Common Law Can be traced back to cus-
toms and precedent es-
tablished by court deci-
sions over the centuries in
England
4. Alfie bought the home subject to the mortgage. (A Which of these situations
property sold subject to the existing loan retains its BEST describes a buyer as-
original loan. The seller is responsible for making the suming a mortgage?
payments to the bank, and the buyer makes the pay-
ments to the seller. The seller transfers the title to
the buyer, but retains responsibility for the loan. The
bank does not sign off on this agreement — it is done
under the table between the buyer and seller.) Alice is
the only one who assumed the loan. (Assumption is
when a buyer takes over a loan from a seller with the
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Aceable Agent FL RE Course
Study online at https://quizlet.com/_bzbyuz
lender's permission. The loan is officially transferred
to the buyer with the title of the property, and the
buyer makes the remainder of the loan payments.) The
difference between assuming a mortgage and buying
subject to is that the lender is not aware of Alfie's
subject-to mortgage, and did not approve the transfer.
5. Offering tax preparation services for borrowers is not What is one way lenders
something lenders do. Collecting property taxes in an prevent other liens from
escrow account and paying them for the borrower hopping ahead of them in
ensures that a tax lien won't take priority in case of the debt priority line?
default.
6. A thin market indicates that there are few buyers and Real estate licensee Jamie
sellers in an area. An increase in building permits discovers that there is an
means that there will be an increase in supply. increase in the number of
building permits being is-
sued in her town. What
can she expect will result
from this?
7. Real estate is land and improvements. Real property is How is real estate different
land, improvements, and the bundle of rights. from real property?
8. The use of designated sales associates in a nonresi- Why does each party in a
dential in-house transaction allows a brokerage to of- designated sales associate
fer fiduciary representation to both sides of the trans- transaction have two dis-
action under certain circumstances. One of those cir- closures to sign?
cumstances is that parties to the in-house transaction
must sign a disclosure notice consenting to the use of
designated sales associates, and declaring that they
are financially eligible (both parties must have assets
of one million dollars or more).
Page 3 of 31 Page 3 Aceable Agent FL RE Course.pdf
, Aceable Agent FL RE Course 4 of 31 2026-03-24
Aceable Agent FL RE Course
Study online at https://quizlet.com/_bzbyuz
9. The fact that there are two parties and in an in-house In what kind of in-house
transaction means that this must be a nonresidential transaction can there be
transaction with designated sales associates. This is two parties, each with a li-
only allowed if the parties have assets equal to or in censee providing fiducia-
excess of one million dollars. ry levels of representation?
What would that tell you
about the assets held by
the two parties?
10. Use the following formula to calculate the percentage Ozzy bought a house.
put down on a property: Down payment ÷ Purchase He put down $85,000.
price = Percentage down. $85,000 ÷ $320,000 = 0.265, The purchase price of
or 26.5% the house was $320,000.
What percentage did Ozzy
put down?
11. Large residential properties typically require a large Carmela is part of an in-
amount of hands-on management and upkeep. The vestment group that wants
advantage is that the residential property market is to purchase a property.
less volatile than commercial markets. She's debating between a
large residential develop-
ment and an office space.
When you're laying out the
pros and cons of each kind
of property, what is one
advantage of residential
property you would share
with her?
12. A multiple offer situation occurs when more than one Stevie receives an offer for
party submits an offer on a single property. There his house. He takes part
could be two people, or, in some hot markets, more of that offer and adds new
Page 4 of 31 Page 4 Aceable Agent FL RE Course.pdf
