ACEABLE AGENT LATEST 2026 TEST PAPER QUESTIONS
AND SOLUTIONS GUARANTEE A+
✔✔Ileanel is starting a new job as a property manager. She asks you for advice on what
she should focus her efforts on. You tell her: - ✔✔most important responsibility is to
realize highest return possible on owner's investment
✔✔FREC Quasi-judicial - ✔✔granting licenses
✔✔FREC executive powers - ✔✔determining fee amounts for applications and exams
✔✔Two of the three authorized relationships in Florida residential real estate require a
written brokerage relationship disclosure notice. One does not.
What is the relationship that does NOT require disclosure, and why is the disclosure not
required? - ✔✔transaction brokerage
✔✔The sales associate with whom Robin was working to sell her condo died of a heart
attack just two days after Robin signed a listing agreement.
Is Robin now free to list her property with whomever she pleases? - ✔✔no, broker has
right to reassign another sales associates
✔✔Addie is buying a condo from a former owner. How long after receiving her condo
documents and signing the contract does she have to cancel the contract? - ✔✔3 days
✔✔Kaitlyn is applying for her Florida sales associate license. How many days does the
FREC have to notify her of any errors or omissions in her application? - ✔✔30 days
✔✔What is a sublease - ✔✔tenant's transfer of part of their right of possession in a
leased property to another person for a period of lease term
✔✔What is an assignment - ✔✔transference of rights and obligations in a contract from
one party to another
✔✔Which of these is the requirement that certain infrastructure, such as potable water
or waste treatment facilities, be in place before any new development is permitted? -
✔✔concurrency (provision from Florida's Growth Policy)
✔✔Which of these properties is the LEAST liquid? - ✔✔retail center
✔✔What are building codes? - ✔✔set of regulations pertaining to building design,
materials, safety, sanitation, and structure
, ✔✔Candi offers rental information for a fee. Does Candi need to provide these clients
with a receipt? - ✔✔yes, in writing the client will be repaid 75% of their fee if they don't
get a rental from listing or 100% of their fee if broker provides out-of-date or false rental
info
✔✔While drinking at the waterfront bar & grill, John and Barry came to a verbal
agreement regarding the launch of a fishing lure business as a side hustle to their day
jobs. John will produce the lures, Barry will sell them, and they'll split the money, 50-50.
Is this an enforceable agreement? - ✔✔yes the contract is valid
✔✔Monty took out a mortgage loan for $266,800. He paid two points. What was the
total cost of his points? - ✔✔$5336 (one point=1% of cost of loan= $2668x2)
✔✔A new home was sold for $1,200,000 in Miami-Dade County. The buyer took out a
mortgage for $1,000,000 and paid the rest in cash. The buyer agrees to pay for all three
state transfer taxes (documentary stamp on the deed, promissory note, and the
intangible tax on the new mortgage).
How much will the buyer owe in state transfer taxes? - ✔✔$12700
✔✔How much is a documentary stamp on deed - ✔✔$0.70 per $100 (___ x 0.007)
✔✔How much is a documentary stamp on deed in Miami-Dade County - ✔✔$0.60 per
$100 (____ x 0.006)
✔✔How much is a promissory note - ✔✔$0.35 per $100 (_____ x 0.0035)
✔✔How much are intangible tax on new mortgage - ✔✔$0.20 per $100 (____ x 0.002)
✔✔A homebuyer is looking to find a mortgage. He goes to the office of Bert Applebee,
who presents him with some options for mortgages. The homebuyer chooses one he
likes, and Bert contacts the lender and negotiates the terms for the homebuyer. The
lender then originates the loan for the homebuyer.
What job does Bert Applebee most likely have? - ✔✔mortgage broker
✔✔What does an appraiser do - ✔✔trained and licensed to perform appraisals, which
estimate value of real property
✔✔What does a mortgage broker do - ✔✔licensed professional who connects buyers to
mortgage loans that are then financed by lender
✔✔Explain how goodwill affects the valuation of a business. - ✔✔contributes to a
business's going concern valuation
AND SOLUTIONS GUARANTEE A+
✔✔Ileanel is starting a new job as a property manager. She asks you for advice on what
she should focus her efforts on. You tell her: - ✔✔most important responsibility is to
realize highest return possible on owner's investment
✔✔FREC Quasi-judicial - ✔✔granting licenses
✔✔FREC executive powers - ✔✔determining fee amounts for applications and exams
✔✔Two of the three authorized relationships in Florida residential real estate require a
written brokerage relationship disclosure notice. One does not.
What is the relationship that does NOT require disclosure, and why is the disclosure not
required? - ✔✔transaction brokerage
✔✔The sales associate with whom Robin was working to sell her condo died of a heart
attack just two days after Robin signed a listing agreement.
Is Robin now free to list her property with whomever she pleases? - ✔✔no, broker has
right to reassign another sales associates
✔✔Addie is buying a condo from a former owner. How long after receiving her condo
documents and signing the contract does she have to cancel the contract? - ✔✔3 days
✔✔Kaitlyn is applying for her Florida sales associate license. How many days does the
FREC have to notify her of any errors or omissions in her application? - ✔✔30 days
✔✔What is a sublease - ✔✔tenant's transfer of part of their right of possession in a
leased property to another person for a period of lease term
✔✔What is an assignment - ✔✔transference of rights and obligations in a contract from
one party to another
✔✔Which of these is the requirement that certain infrastructure, such as potable water
or waste treatment facilities, be in place before any new development is permitted? -
✔✔concurrency (provision from Florida's Growth Policy)
✔✔Which of these properties is the LEAST liquid? - ✔✔retail center
✔✔What are building codes? - ✔✔set of regulations pertaining to building design,
materials, safety, sanitation, and structure
, ✔✔Candi offers rental information for a fee. Does Candi need to provide these clients
with a receipt? - ✔✔yes, in writing the client will be repaid 75% of their fee if they don't
get a rental from listing or 100% of their fee if broker provides out-of-date or false rental
info
✔✔While drinking at the waterfront bar & grill, John and Barry came to a verbal
agreement regarding the launch of a fishing lure business as a side hustle to their day
jobs. John will produce the lures, Barry will sell them, and they'll split the money, 50-50.
Is this an enforceable agreement? - ✔✔yes the contract is valid
✔✔Monty took out a mortgage loan for $266,800. He paid two points. What was the
total cost of his points? - ✔✔$5336 (one point=1% of cost of loan= $2668x2)
✔✔A new home was sold for $1,200,000 in Miami-Dade County. The buyer took out a
mortgage for $1,000,000 and paid the rest in cash. The buyer agrees to pay for all three
state transfer taxes (documentary stamp on the deed, promissory note, and the
intangible tax on the new mortgage).
How much will the buyer owe in state transfer taxes? - ✔✔$12700
✔✔How much is a documentary stamp on deed - ✔✔$0.70 per $100 (___ x 0.007)
✔✔How much is a documentary stamp on deed in Miami-Dade County - ✔✔$0.60 per
$100 (____ x 0.006)
✔✔How much is a promissory note - ✔✔$0.35 per $100 (_____ x 0.0035)
✔✔How much are intangible tax on new mortgage - ✔✔$0.20 per $100 (____ x 0.002)
✔✔A homebuyer is looking to find a mortgage. He goes to the office of Bert Applebee,
who presents him with some options for mortgages. The homebuyer chooses one he
likes, and Bert contacts the lender and negotiates the terms for the homebuyer. The
lender then originates the loan for the homebuyer.
What job does Bert Applebee most likely have? - ✔✔mortgage broker
✔✔What does an appraiser do - ✔✔trained and licensed to perform appraisals, which
estimate value of real property
✔✔What does a mortgage broker do - ✔✔licensed professional who connects buyers to
mortgage loans that are then financed by lender
✔✔Explain how goodwill affects the valuation of a business. - ✔✔contributes to a
business's going concern valuation
