REAL ESTATE LICENSING ga ga
Exam Solution ga
Florida Real Estate Exam!!!! 2026 A+ GRADE ASSURED C ga ga ga ga ga ga ga ga
OMPLETE SOLUTIONS AND VERIFIED ANSWERS (657CA ga ga ga ga ga
)
QUESTION 1 ga
Samuel wants to do a 1031 exchange. He sold his investment property and has identified
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the property he'd like to buy next. Within how many days must he close on this propert
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y in order for it to qualify as part of the exchange?
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ANSWER
has 45 days to identify a property he would like to purchase and 180 days to close on it, from time of s
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ale.
a. 180
ga
b. 30 c.45 d.60
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QUESTION 2 ga
In which form of co-ownership is a person's ownership inheritable?
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ANSWER
allows for a persons share to be inheritable, it does not automatically pass forth to the rest of the owne
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rs like in joint tenancy (this is called the right of survivorship).
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a. Joint tenancy
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b. Tenancy by the entirety
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c. Tenancy in common
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d. Tenancy in severalty
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QUESTION 3 ga
How long do prospective tenants have to request a refund after purchasing a rental list?
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ANSWER
.... tenants have up to 30 days to request a 75% refund if they do not purchase a rental
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a. 10 days
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,b. 15 days
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c. 30 days
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d. 360 days
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QUESTION 4 ga
Which method best describes the foreclosure process in Florida?
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ANSWER
e of florida offers a judicial foreclosure process A judicial foreclosure is known as a lien theory process.
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Basically, the homeowner has legal title to the property... Unlike title theory, where as the owner has e
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quitable title ga
a. Caveat emptor
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b. Judicial
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c. Lis pendens
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d. Non-judicial
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QUESTION 5 ga
Which of the following statements about the Florida property tax disclosure is NOT true
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?
ANSWER
g year.
ga
a. It can be included in the sales contract itself.
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b. It cautions buyers not to rely on the current year's tax to predict what they'll have to pay.
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c. This disclosure doesn't provide any estimates of future property tax amounts.
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d. It must be provided to sellers when they sign their agency agreement.
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QUESTION 6 ga
Which act simplifies, clarifies, and modernizes consumer protection laws and makes the
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m more consistent with federal trade laws?
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ANSWER
Act is the act that simplifies, clarifies, and modernizes consumer protection laws and makes them more
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consistent with federal trade laws.
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a. Fair Housing Act
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b. Federal Duplicate Law Condensation Act
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c. Federal Trade Commission Act
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d. Florida Deceptive and Unfair Trade Practices Act
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QUESTION 7 ga
To comply with the statute of frauds, an option contract must be ______.
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,ANSWER
an option contract must be in writing and signed by the optionor (seller).
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a. In writing and signed by the optionee
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b. In writing and signed by the optionor
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c. In writing and witnessed by an attorney
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d. On file at the local courthouse
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QUESTION 8 ga
A cooperative is a(n) _____.
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ANSWER
enture with its shareholders, formed for their benefit and governed by them. It's a not-for-
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profit corporation. ga
a. limited partnership
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b. LLC
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c. not-for-profit corporation
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d. sole proprietorship
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QUESTION 9 ga
Compared with condominiums, the monthly fees for a cooperative owner are typically __
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____.
ANSWER
y fees for cooperatives are generally higher because they include taxes, mortgage payments, and fees fo
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r maintaining common areas and facilities.
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a. Higher
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b. Much less
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c. Slightly less
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d. The same
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QUESTION 10 ga
For all intents and purposes, subagents are agents of the _______.
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ANSWER
gh a subagent may bring an unrepresented buyer to the transaction, the subagent is an agent of the sell
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er.
a. Buyer
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b. Seller
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c. The buyer's broker
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d. The listing broker
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QUESTION 11 ga
, Can a new licensee specialize in the sale of farm and ranch property?
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ANSWER
tials. The licensee must be competent in any specialization, however.
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a. Not until the licensee has at least five years of experience in agricultural real estate
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b. Not until the licensee passes additional courses in agricultural real estate
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c. Yes, a new licensee can specialize in agricultural real estate
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d. Yes, as long as the new licensee has a degree in agriculture
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QUESTION 12 ga
Jacqueline is a licensee working with a property near a Superfund site. Which of these st
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atements is true? ga ga
ANSWER
ure, as this is a material fact.
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a. A portion of the sale price must go to the EPA to fund clean-up of the site.
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b. She must disclose potential health threats to anyone in the area when showing the property.
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c. She must disclose the existence of an environmental hazard in the area.
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d. The property can't be sold until the site is removed from the NPL.
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QUESTION 13 ga
Curtis wants to do a 1031 exchange. He just closed on his property. How many days does
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he have to identify a new property?
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ANSWER
vestors who want to use the 1031 tax-
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deferred exchange must identify the new property within 45 days of closing and must close on that pro
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perty within 180 days from the date of sale of the first property.
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a. 180
ga
b. 30ga
c. 45ga
d. 60ga
QUESTION 14 ga
Which option describes a real property tax lien?
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ANSWER
a. General and involuntary
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b. General and voluntary
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c. Specific and involuntary
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d. Specific and voluntary c.
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Exam Solution ga
Florida Real Estate Exam!!!! 2026 A+ GRADE ASSURED C ga ga ga ga ga ga ga ga
OMPLETE SOLUTIONS AND VERIFIED ANSWERS (657CA ga ga ga ga ga
)
QUESTION 1 ga
Samuel wants to do a 1031 exchange. He sold his investment property and has identified
ga ga ga ga ga ga ga ga ga ga ga ga ga ga
the property he'd like to buy next. Within how many days must he close on this propert
ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga
y in order for it to qualify as part of the exchange?
ga ga ga ga ga ga ga ga ga ga ga
ANSWER
has 45 days to identify a property he would like to purchase and 180 days to close on it, from time of s
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ale.
a. 180
ga
b. 30 c.45 d.60
ga ga ga
QUESTION 2 ga
In which form of co-ownership is a person's ownership inheritable?
ga ga ga ga ga ga ga ga ga
ANSWER
allows for a persons share to be inheritable, it does not automatically pass forth to the rest of the owne
ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga
rs like in joint tenancy (this is called the right of survivorship).
ga ga ga ga ga ga ga ga ga ga ga
a. Joint tenancy
ga ga
b. Tenancy by the entirety
ga ga ga ga
c. Tenancy in common
ga ga ga
d. Tenancy in severalty
ga ga ga
QUESTION 3 ga
How long do prospective tenants have to request a refund after purchasing a rental list?
ga ga ga ga ga ga ga ga ga ga ga ga ga ga
ANSWER
.... tenants have up to 30 days to request a 75% refund if they do not purchase a rental
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a. 10 days
ga ga
,b. 15 days
ga ga
c. 30 days
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d. 360 days
ga ga
QUESTION 4 ga
Which method best describes the foreclosure process in Florida?
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ANSWER
e of florida offers a judicial foreclosure process A judicial foreclosure is known as a lien theory process.
ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga g
Basically, the homeowner has legal title to the property... Unlike title theory, where as the owner has e
a ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga
quitable title ga
a. Caveat emptor
ga ga
b. Judicial
ga
c. Lis pendens
ga ga
d. Non-judicial
ga
QUESTION 5 ga
Which of the following statements about the Florida property tax disclosure is NOT true
ga ga ga ga ga ga ga ga ga ga ga ga ga
?
ANSWER
g year.
ga
a. It can be included in the sales contract itself.
ga ga ga ga ga ga ga ga ga
b. It cautions buyers not to rely on the current year's tax to predict what they'll have to pay.
ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga
c. This disclosure doesn't provide any estimates of future property tax amounts.
ga ga ga ga ga ga ga ga ga ga ga
d. It must be provided to sellers when they sign their agency agreement.
ga ga ga ga ga ga ga ga ga ga ga ga
QUESTION 6 ga
Which act simplifies, clarifies, and modernizes consumer protection laws and makes the
ga ga ga ga ga ga ga ga ga ga ga
m more consistent with federal trade laws?
ga ga ga ga ga ga
ANSWER
Act is the act that simplifies, clarifies, and modernizes consumer protection laws and makes them more
ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga g
consistent with federal trade laws.
a ga ga ga ga
a. Fair Housing Act
ga ga ga
b. Federal Duplicate Law Condensation Act
ga ga ga ga ga
c. Federal Trade Commission Act
ga ga ga ga
d. Florida Deceptive and Unfair Trade Practices Act
ga ga ga ga ga ga ga
QUESTION 7 ga
To comply with the statute of frauds, an option contract must be ______.
ga ga ga ga ga ga ga ga ga ga ga ga
,ANSWER
an option contract must be in writing and signed by the optionor (seller).
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a. In writing and signed by the optionee
ga ga ga ga ga ga ga
b. In writing and signed by the optionor
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c. In writing and witnessed by an attorney
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d. On file at the local courthouse
ga ga ga ga ga ga
QUESTION 8 ga
A cooperative is a(n) _____.
ga ga ga ga
ANSWER
enture with its shareholders, formed for their benefit and governed by them. It's a not-for-
ga ga ga ga ga ga ga ga ga ga ga ga ga ga
profit corporation. ga
a. limited partnership
ga ga
b. LLC
ga
c. not-for-profit corporation
ga ga
d. sole proprietorship
ga ga
QUESTION 9 ga
Compared with condominiums, the monthly fees for a cooperative owner are typically __
ga ga ga ga ga ga ga ga ga ga ga ga
____.
ANSWER
y fees for cooperatives are generally higher because they include taxes, mortgage payments, and fees fo
ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga
r maintaining common areas and facilities.
ga ga ga ga ga
a. Higher
ga
b. Much less
ga ga
c. Slightly less
ga ga
d. The same
ga ga
QUESTION 10 ga
For all intents and purposes, subagents are agents of the _______.
ga ga ga ga ga ga ga ga ga ga
ANSWER
gh a subagent may bring an unrepresented buyer to the transaction, the subagent is an agent of the sell
ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga
er.
a. Buyer
ga
b. Seller
ga
c. The buyer's broker
ga ga ga
d. The listing broker
ga ga ga
QUESTION 11 ga
, Can a new licensee specialize in the sale of farm and ranch property?
ga ga ga ga ga ga ga ga ga ga ga ga
ANSWER
tials. The licensee must be competent in any specialization, however.
ga ga ga ga ga ga ga ga ga
a. Not until the licensee has at least five years of experience in agricultural real estate
ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga
b. Not until the licensee passes additional courses in agricultural real estate
ga ga ga ga ga ga ga ga ga ga ga
c. Yes, a new licensee can specialize in agricultural real estate
ga ga ga ga ga ga ga ga ga ga
d. Yes, as long as the new licensee has a degree in agriculture
ga ga ga ga ga ga ga ga ga ga ga ga
QUESTION 12 ga
Jacqueline is a licensee working with a property near a Superfund site. Which of these st
ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga
atements is true? ga ga
ANSWER
ure, as this is a material fact.
ga ga ga ga ga ga
a. A portion of the sale price must go to the EPA to fund clean-up of the site.
ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga
b. She must disclose potential health threats to anyone in the area when showing the property.
ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga
c. She must disclose the existence of an environmental hazard in the area.
ga ga ga ga ga ga ga ga ga ga ga ga
d. The property can't be sold until the site is removed from the NPL.
ga ga ga ga ga ga ga ga ga ga ga ga ga
QUESTION 13 ga
Curtis wants to do a 1031 exchange. He just closed on his property. How many days does
ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga
he have to identify a new property?
ga ga ga ga ga ga ga
ANSWER
vestors who want to use the 1031 tax-
ga ga ga ga ga ga ga
deferred exchange must identify the new property within 45 days of closing and must close on that pro
ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga ga
perty within 180 days from the date of sale of the first property.
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a. 180
ga
b. 30ga
c. 45ga
d. 60ga
QUESTION 14 ga
Which option describes a real property tax lien?
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ANSWER
a. General and involuntary
ga ga ga
b. General and voluntary
ga ga ga
c. Specific and involuntary
ga ga ga
d. Specific and voluntary c.
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