Magnolia Exam Questions with
Correct Verified Answers. Latest 2026-
2027. Graded A
4 Elements of contract - AnsConsideration
- Valuable (Money)
- Good (Love and affection)
Offer and acceptance
Legality
Competent parties
4 Types of Escrow Settlement Procedures a Broker must follow when they
are holding escrow - AnsM - Mediation (Non Binding)
A - Arbitration (Binding)
L - Litigation
E - Escrow disbursement order (FREC)
7 Protected Classes - Ansrace, religion, sex, color, national origin, familial
status, handicap
A case in which the interest paid for borrowed funds is less than the overall
rate of return to an investor is an example of - AnsPositive Leverage
1
,A Florida real estate sales associate who moves and becomes a
nonresident of Florida must notify the Commission of the change of
residency within how many days? - Ans60 days
A level payment mortgage - Anstype of mortgage that requires the same
dollar payment each month or payment period Also known as amortized
mortgage
A package mortgage - AnsMortgage uses both real and personal property
to secure debt
A sales associate was issued a citation for failing to timely notify the
Commission of her change of address. How many days does the licensee
have to either pay the citation or file an objection to the alleged violation? -
Ans30 days
A tax certificate - Answhat is auctioned in the event that a property owner
does not pay his or her taxes.
A VA is a government ______ loan - Ansguaranteed
A valid contract that doesn't qualify for the courts to force performance
under the Statute of Frauds means that the contract is? -
AnsUnenforceable
Abstract of Title - AnsA complete search of the recorded documents
concerning a parcel of real property. All things recorded on Parcel of land.
2
, accretion - Ansslow growth in size or amount
Additional tax exemption for a blind person who is homestead - Ans$5000
After passing broker's exam how do you become a broker - AnsRegister an
office
Alluvion - Anssolid material deposited by a body of water
Also called legal notice and is achieved by recording documents in the
public records - AnsConstructive Notice
An appraiser would deduct value from a property's value if the property had
four bedrooms but only one bathroom. What type of depreciation is this? -
AnsFunctional Obsolescence
Another name for Lot and Block - AnsPlat Method
Appurtenant Easement - Ansright to use adjoining property that transfers
with the land
Articles of Incorporation should be presented to a prospective buyer of
what? - AnsCondo
3
Correct Verified Answers. Latest 2026-
2027. Graded A
4 Elements of contract - AnsConsideration
- Valuable (Money)
- Good (Love and affection)
Offer and acceptance
Legality
Competent parties
4 Types of Escrow Settlement Procedures a Broker must follow when they
are holding escrow - AnsM - Mediation (Non Binding)
A - Arbitration (Binding)
L - Litigation
E - Escrow disbursement order (FREC)
7 Protected Classes - Ansrace, religion, sex, color, national origin, familial
status, handicap
A case in which the interest paid for borrowed funds is less than the overall
rate of return to an investor is an example of - AnsPositive Leverage
1
,A Florida real estate sales associate who moves and becomes a
nonresident of Florida must notify the Commission of the change of
residency within how many days? - Ans60 days
A level payment mortgage - Anstype of mortgage that requires the same
dollar payment each month or payment period Also known as amortized
mortgage
A package mortgage - AnsMortgage uses both real and personal property
to secure debt
A sales associate was issued a citation for failing to timely notify the
Commission of her change of address. How many days does the licensee
have to either pay the citation or file an objection to the alleged violation? -
Ans30 days
A tax certificate - Answhat is auctioned in the event that a property owner
does not pay his or her taxes.
A VA is a government ______ loan - Ansguaranteed
A valid contract that doesn't qualify for the courts to force performance
under the Statute of Frauds means that the contract is? -
AnsUnenforceable
Abstract of Title - AnsA complete search of the recorded documents
concerning a parcel of real property. All things recorded on Parcel of land.
2
, accretion - Ansslow growth in size or amount
Additional tax exemption for a blind person who is homestead - Ans$5000
After passing broker's exam how do you become a broker - AnsRegister an
office
Alluvion - Anssolid material deposited by a body of water
Also called legal notice and is achieved by recording documents in the
public records - AnsConstructive Notice
An appraiser would deduct value from a property's value if the property had
four bedrooms but only one bathroom. What type of depreciation is this? -
AnsFunctional Obsolescence
Another name for Lot and Block - AnsPlat Method
Appurtenant Easement - Ansright to use adjoining property that transfers
with the land
Articles of Incorporation should be presented to a prospective buyer of
what? - AnsCondo
3
