FLORIDA REAL ESTATE EXAM STUDY GUIDE
2026 COMPLETE TEST BANK WITH
ANSWERS
◉ out of state broker receives a commission
Answer: cannot participate in the transaction
◉ city needs a new school, acquire land by
Answer: eminent domain
◉ All legal rights transferred (100%)
Answer: assignment
◉ Dual Agency
Answer: Representing both parties to a transaction. This is unethical
unless both parties agree to it, and it is illegal in many states
(Violation of Florida Statute 475
◉ Combining two or more parcels of land
Answer: assemblage
,◉ Real Estate Recovery fund is funded by
Answer: fines and fees paid by licensees
◉ Riparian Rights
Answer: An owner's rights in land that borders on or includes a
stream, river, or lake. These rights include access to and use of the
water.
◉ Broker hiding value of property
Answer: Could be charged with concealment
◉ If office is closed, reopened, in same license period
Answer: request a reissue- no fee
◉ real estate taxes are
Answer: Ad Valorem tax
◉ The four factors of production
Answer: land, labor, capital, and entrepreneurial ability
◉ Maximum number of years on FREC
,Answer: no limit
◉ Land, improvements, interest and rights
Answer: Real Property
◉ Gross lease
Answer: Tenant pays a fixed rent and the landlord (Lesser) pays all
property expenses
◉ To cure a defect or cloud on the title to a piece of property, the
parties should:
Answer: quitclam deed
◉ Sales associate working for a broker
Answer: general agency relationship
◉ Brokers office
Answer: Building of stationary construction
◉ More than 1 active broker, 1 license revoked
Answer: no affect on other licenses
, ◉ Corporation registered to broker real estate
Answer: at least 1 officer licensed as an active broker
◉ Equal DUE rights, same or different deeds
Answer: Tenancy in common
◉ rental property is temporarily diminished
Answer: see temporary reduction of rent from court
◉ property to property with same utility
Answer: Principle of Substitution
◉ Broker refuses to pay a commission due
Answer: Charged with Failure to Account
◉ $50,000
Answer: Single judgement from Real Estate Recovery Fund
◉ Post-dated check
Answer: Legal- give to broker immediately
◉ Business known as a company
2026 COMPLETE TEST BANK WITH
ANSWERS
◉ out of state broker receives a commission
Answer: cannot participate in the transaction
◉ city needs a new school, acquire land by
Answer: eminent domain
◉ All legal rights transferred (100%)
Answer: assignment
◉ Dual Agency
Answer: Representing both parties to a transaction. This is unethical
unless both parties agree to it, and it is illegal in many states
(Violation of Florida Statute 475
◉ Combining two or more parcels of land
Answer: assemblage
,◉ Real Estate Recovery fund is funded by
Answer: fines and fees paid by licensees
◉ Riparian Rights
Answer: An owner's rights in land that borders on or includes a
stream, river, or lake. These rights include access to and use of the
water.
◉ Broker hiding value of property
Answer: Could be charged with concealment
◉ If office is closed, reopened, in same license period
Answer: request a reissue- no fee
◉ real estate taxes are
Answer: Ad Valorem tax
◉ The four factors of production
Answer: land, labor, capital, and entrepreneurial ability
◉ Maximum number of years on FREC
,Answer: no limit
◉ Land, improvements, interest and rights
Answer: Real Property
◉ Gross lease
Answer: Tenant pays a fixed rent and the landlord (Lesser) pays all
property expenses
◉ To cure a defect or cloud on the title to a piece of property, the
parties should:
Answer: quitclam deed
◉ Sales associate working for a broker
Answer: general agency relationship
◉ Brokers office
Answer: Building of stationary construction
◉ More than 1 active broker, 1 license revoked
Answer: no affect on other licenses
, ◉ Corporation registered to broker real estate
Answer: at least 1 officer licensed as an active broker
◉ Equal DUE rights, same or different deeds
Answer: Tenancy in common
◉ rental property is temporarily diminished
Answer: see temporary reduction of rent from court
◉ property to property with same utility
Answer: Principle of Substitution
◉ Broker refuses to pay a commission due
Answer: Charged with Failure to Account
◉ $50,000
Answer: Single judgement from Real Estate Recovery Fund
◉ Post-dated check
Answer: Legal- give to broker immediately
◉ Business known as a company
