TEST PAPER QUESTIONS AND SOLUTIONS
◉ What sections are located in the four corners of a Township?
Answer: 1, 6, 31, 36
◉ The SW 1/4 of the SW 1/4 of the SW 1/4 of Section 11 contains
how many acres?
Answer: 10 acres
◉ How do you calculate the cost per square foot of a property?
Answer: Cost per acre divided by 43,560
◉ Does the Statue of Frauds apply to a 180 day listing agreement?
Answer: No
◉ What are essential requirements of a valid real estate contract?
Answer: Legal purpose, competent parties, offer and acceptance, in
writing, consideration- not earnest money.
◉ What type of contract will be upheld in court?
Answer: Enforceable contract
, ◉ What is a distinctive feature of a unilateral contract and when is it
used?
Answer: Only one party is required to act eg. bonus.
◉ What is a Power of Attorney
Answer: A legal document authorizing a person to act on your behalf
◉ Does the seller have to do a lead-based paint test if requested by
the buyer?
Answer: No
◉ Who pays for an energy efficiency rating when a property is sold?
Answer: Buyer
◉ Which Florida Statue governs the homeowner disclosure law?
Answer: 720
◉ What is hypothecation?
Answer: Real property pledged as security for the debt.
◉ Who holds title in a title theory state (not Florida)