Level 3 RE- Practice Exam 100
(100 Questions) In Real Estate
Property Management 2026
Expert Verified | Ace the Test
In real estate, property management has become more popular because of
- 🧠ANSWER ✔✔the increase in absentee ownership
,Reference: Absentee owners, typically investors, need someone on-site to
take care of their properties
A broker in Florida must do all the following EXCEPT - 🧠ANSWER
✔✔complete a 2-year real estate program at a community college
Reference: Brokers must fulfill the experience requirement of 24 months,
successfully complete a pre-licensure course, then pass the state exam.
They must also have completed the post-licensure education and, if
applicable, community education required during the time they were a sales
associate.
If after 24 months a sales associate has not completed the requisite post-
licensing education, they can requalify for licensure by - 🧠ANSWER
✔✔repeating the pre-licensure class, passing the end-of-course
examination, and passing the state licensure examination
Reference: The license is void if post-licensing education is not complete
within 24 months, so the pre-licensing course and examination and state
examination must be taken again.
The primary purpose the first Florida Real Estate Commission formed in
1927 was - 🧠ANSWER ✔✔to protect the public
,Reference: The primary purpose of the Florida Real Estate Commission
was to protect the public from unscrupulous practices.
Before Esther died, she named her friend JoAnne as her personal
representative in her will. To sell the real estate Esther owned, JoAnne is -
🧠ANSWER ✔✔not required to obtain a real estate license.
Reference: As the assigned representative for the estate, Jenny is acting
as owner of the estate and does not require a license.
Vanessa's license has been involuntarily inactive for 20 months. He has not
completed the Continuing Education courses required to renew his sales
associate's license. What must he do to reactivate his license? -
🧠ANSWER ✔✔take a 28-hour reactivation course
Reference: If a license is involuntarily inactive for more than 12 but less
than 24 months, the 28-hour reactivation course is required. It is too late to
take the CE courses; if he waits until his license becomes null and void at
24 months, he will have to start over as if he never had a license.
Compensation collected in connection with a broker price opinion or
comparative market analysis constitutes a brokerage activity and must be
paid to the - 🧠ANSWER ✔✔sales associate's Broker/brokerage
3
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2026. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
, Reference: Sales associates receive their compensation from their broker
or owner-developer.
Once licensees have completed the post-licensing course required after
becoming active as real estate licensees, they must complete - 🧠ANSWER
✔✔at least 14 hours of continuing education during every 2-year license
period for active and inactive licensees
Reference:Fourteen hours of continuing education is required for all
subsequent two-year renewal period. Involuntary inactive licensees can
maintain their license by continuing to meet this requirement.
The legal rights and responsibilities of real estate licensees are established
by what law? - 🧠ANSWER ✔✔Florida Statute Chapter 475
Reference: The Florida Statute Chapter 475 was created by the Florida
Legislature to establish the legal rights and responsibilities of real estate
licensees.
Which statement is not true about a transaction broker? - 🧠ANSWER
✔✔The transaction broker does not need to disclose all known facts that
materially affect the value of residential real property and are not readily
observable to the buyer
(100 Questions) In Real Estate
Property Management 2026
Expert Verified | Ace the Test
In real estate, property management has become more popular because of
- 🧠ANSWER ✔✔the increase in absentee ownership
,Reference: Absentee owners, typically investors, need someone on-site to
take care of their properties
A broker in Florida must do all the following EXCEPT - 🧠ANSWER
✔✔complete a 2-year real estate program at a community college
Reference: Brokers must fulfill the experience requirement of 24 months,
successfully complete a pre-licensure course, then pass the state exam.
They must also have completed the post-licensure education and, if
applicable, community education required during the time they were a sales
associate.
If after 24 months a sales associate has not completed the requisite post-
licensing education, they can requalify for licensure by - 🧠ANSWER
✔✔repeating the pre-licensure class, passing the end-of-course
examination, and passing the state licensure examination
Reference: The license is void if post-licensing education is not complete
within 24 months, so the pre-licensing course and examination and state
examination must be taken again.
The primary purpose the first Florida Real Estate Commission formed in
1927 was - 🧠ANSWER ✔✔to protect the public
,Reference: The primary purpose of the Florida Real Estate Commission
was to protect the public from unscrupulous practices.
Before Esther died, she named her friend JoAnne as her personal
representative in her will. To sell the real estate Esther owned, JoAnne is -
🧠ANSWER ✔✔not required to obtain a real estate license.
Reference: As the assigned representative for the estate, Jenny is acting
as owner of the estate and does not require a license.
Vanessa's license has been involuntarily inactive for 20 months. He has not
completed the Continuing Education courses required to renew his sales
associate's license. What must he do to reactivate his license? -
🧠ANSWER ✔✔take a 28-hour reactivation course
Reference: If a license is involuntarily inactive for more than 12 but less
than 24 months, the 28-hour reactivation course is required. It is too late to
take the CE courses; if he waits until his license becomes null and void at
24 months, he will have to start over as if he never had a license.
Compensation collected in connection with a broker price opinion or
comparative market analysis constitutes a brokerage activity and must be
paid to the - 🧠ANSWER ✔✔sales associate's Broker/brokerage
3
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2026. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
, Reference: Sales associates receive their compensation from their broker
or owner-developer.
Once licensees have completed the post-licensing course required after
becoming active as real estate licensees, they must complete - 🧠ANSWER
✔✔at least 14 hours of continuing education during every 2-year license
period for active and inactive licensees
Reference:Fourteen hours of continuing education is required for all
subsequent two-year renewal period. Involuntary inactive licensees can
maintain their license by continuing to meet this requirement.
The legal rights and responsibilities of real estate licensees are established
by what law? - 🧠ANSWER ✔✔Florida Statute Chapter 475
Reference: The Florida Statute Chapter 475 was created by the Florida
Legislature to establish the legal rights and responsibilities of real estate
licensees.
Which statement is not true about a transaction broker? - 🧠ANSWER
✔✔The transaction broker does not need to disclose all known facts that
materially affect the value of residential real property and are not readily
observable to the buyer
