BSRV4601 FUNDAMENTALS OF REAL
ESTATE 2 APPENDIX COMPREHENSIVE
STUDY GUIDE 2026 FULL QUESTIONS AND
SOLUTIONS GRADED A+
◍ When a grantor transfers title but retains some rights this is called:.
Answer: A reservation
◍ How many square feet are in one acre of land?.
Answer: 43,560
◍ All of the following statements about property managers are true EXCEPT:.
Answer: Property managers must be full-time employees of the owner
◍ Range of Penalties.
Answer: Per violation of F.S. 475 is up to $5,000
◍ The principle of appraisal that states "value is influenced by the cost of
acquiring a comparable replacement" is:.
Answer: The Principle of Substitution
◍ Corporation for Profit.
Answer: Artificial person created by law.Can own all stocks, hold all stocks,
positions an officer positions of the board of directors.Must have Corp, Inc,
or Co
◍ Recording a deed gives constructive notice of ownership. What other action
below gives constructive notice of ownership?.
Answer: Moving in or taking possession of the property
◍ The listing broker's half of a commission was $4,392. The commission rate
was 5%. What was the sale price of the property?.
, Answer: $175,680
◍ When a lending institution becomes the owner of a property through
foreclosure, the property becomes an asset of the company, and is classified
as:.
Answer: Real Estate Owned
◍ A property manager's responsibility is to:.
Answer: Generate income for the owner, Preserve the value of an
investment, Serve as a "buffer" between the tenant and the landlord
◍ Broker Bob negotiates a commission of 5.5% on a $325,000 listing. The
selling broker will receive 60% of the commission. If the property sells for
list price, how much will Broker Bob pay the selling broker?.
Answer: $10,725.00
◍ Leverage is:.
Answer: The use of borrowed money to make money
◍ Diclosure Requirements.
Answer: a broker may be employed by a member of the public in one of the
following three different relationships: -transaction broker-single
agent-nonrepresentation
◍ Lincesing School and Applicants.
Answer: - All permits are issued for a two-year period, which expires on
September 30th of odd years (like 2025)
◍ Which of the following is true of property taxes?.
Answer: Property taxes create the highest priority lien against property,
Unpaid taxes are an automatic lien and at foreclosure will always be paid
first, If property taxes are not paid, the property will be seized and sold
◍ External obsolescence is:.
Answer: Depreciation based on factors outside the property
◍ CH6 Three agencies that impose discipline.
Answer: - Criminal Courts- Civil Courts- Administrative Courts
,◍ Surveyor's Method (Metes and Bounds).
Answer: The oldest method of land description and provides the most
accurate type of legal description. Describes regularly or irregularly shaped
tracts of real estate, using:Metes = distance such as inches, feet, yards, and
miles.Bounds = angles and directions.Monuments = fixed objects used to
establish boundaries, fixed markersPoint of beginning (POB) = survey gives
directions from monument to the edge of property, called POB.Directions
always start with either S or N followed by the number of degrees E or W
up to a max on 90 degrees.
◍ All of the following are requirements of a valid lease EXCEPT:.
Answer: Recording
◍ The Licensing and Renewal Process.
Answer: Pre-licensingPost-licensingContinuing Education (CE)
◍ postdated check.
Answer: Promissory note and can be earnest money with seller's approval
◍ Commission Quasi-Legislative Powers.
Answer: - Make and pass rules that regulate the operation of licensees.
Implement and interpret law. - Cannot be delegated, must be a quorum
vote.- These rules do not require other approval, become effective 20 days
after filled with the secretary of state. These cannot be in conflict with the
U.S. Constitution.
◍ Pre-Licensing Education.
Answer: 1. Complete Req. SA or Broker education and pass course final
exam with 70% or more.2. Submit app for state exam, payment fee for
license3. Submit electronic fingerprints for background check4. Pass state
examination with 75% or more (inactive license)5. Obtain employment and
file (active license)
◍ Civil Penalties.
Answer: Fines or financial payments imposed by a state or federal agency
for violation of laws or regulations. Imposed to compensate rather than
, punishment.- Commission helps in case of fraud from licensee.
◍ The secondary market:.
Answer: Is funded by investors
◍ Commission Ministerial Powers.
Answer: - Record keeping and clerical functions, the Division employees.
◍ CH4 Common Law.
Answer: - Unwritten Law, not passed by legislature- Sum of court decisions
over time- Compensatory Damages: civil penalties, from measurable loss.-
Punitive Damages: monetary penalty, additional.
◍ Licensure and Registration.
Answer: - Licensure: granting license to practice profession.- Registration:
placing and keeping on record the name and address of an individual or
business. Kept by DRE-SA, BA, and brokers are automatically licensed and
registered. But brokerage sties only registered.-Individuals are both licensed
and registered while businesses only registered.
◍ Continuing Education (CE).
Answer: - Renewing without completing cont ed is fraudalent!- if not
complete, status changes to "involuntary inactive"- 14 hours- Classroom:
Must attend 90% of time, no exam- Online: must take 30 question exam
with 80% or higher
◍ The State License Exam.
Answer: - By independent testing service that charges a fee to take the exam
with them. - Has 100 multiple-choice questions, 45 RE Law, 45 RE
Principles and Practices, 10 RE Mathematics.- Must get 75% or more to
pass exam.- If passed, Department will receive letter with applicant picture
indicading passed exam. Has inactive license, must now get employed for
active license- If failed, will receive letter with score by category. Must wait
at least 24 hours to retake exam. Applicant can schedule appointment to
review wrong answers
◍ Rendering an opinion of title.
ESTATE 2 APPENDIX COMPREHENSIVE
STUDY GUIDE 2026 FULL QUESTIONS AND
SOLUTIONS GRADED A+
◍ When a grantor transfers title but retains some rights this is called:.
Answer: A reservation
◍ How many square feet are in one acre of land?.
Answer: 43,560
◍ All of the following statements about property managers are true EXCEPT:.
Answer: Property managers must be full-time employees of the owner
◍ Range of Penalties.
Answer: Per violation of F.S. 475 is up to $5,000
◍ The principle of appraisal that states "value is influenced by the cost of
acquiring a comparable replacement" is:.
Answer: The Principle of Substitution
◍ Corporation for Profit.
Answer: Artificial person created by law.Can own all stocks, hold all stocks,
positions an officer positions of the board of directors.Must have Corp, Inc,
or Co
◍ Recording a deed gives constructive notice of ownership. What other action
below gives constructive notice of ownership?.
Answer: Moving in or taking possession of the property
◍ The listing broker's half of a commission was $4,392. The commission rate
was 5%. What was the sale price of the property?.
, Answer: $175,680
◍ When a lending institution becomes the owner of a property through
foreclosure, the property becomes an asset of the company, and is classified
as:.
Answer: Real Estate Owned
◍ A property manager's responsibility is to:.
Answer: Generate income for the owner, Preserve the value of an
investment, Serve as a "buffer" between the tenant and the landlord
◍ Broker Bob negotiates a commission of 5.5% on a $325,000 listing. The
selling broker will receive 60% of the commission. If the property sells for
list price, how much will Broker Bob pay the selling broker?.
Answer: $10,725.00
◍ Leverage is:.
Answer: The use of borrowed money to make money
◍ Diclosure Requirements.
Answer: a broker may be employed by a member of the public in one of the
following three different relationships: -transaction broker-single
agent-nonrepresentation
◍ Lincesing School and Applicants.
Answer: - All permits are issued for a two-year period, which expires on
September 30th of odd years (like 2025)
◍ Which of the following is true of property taxes?.
Answer: Property taxes create the highest priority lien against property,
Unpaid taxes are an automatic lien and at foreclosure will always be paid
first, If property taxes are not paid, the property will be seized and sold
◍ External obsolescence is:.
Answer: Depreciation based on factors outside the property
◍ CH6 Three agencies that impose discipline.
Answer: - Criminal Courts- Civil Courts- Administrative Courts
,◍ Surveyor's Method (Metes and Bounds).
Answer: The oldest method of land description and provides the most
accurate type of legal description. Describes regularly or irregularly shaped
tracts of real estate, using:Metes = distance such as inches, feet, yards, and
miles.Bounds = angles and directions.Monuments = fixed objects used to
establish boundaries, fixed markersPoint of beginning (POB) = survey gives
directions from monument to the edge of property, called POB.Directions
always start with either S or N followed by the number of degrees E or W
up to a max on 90 degrees.
◍ All of the following are requirements of a valid lease EXCEPT:.
Answer: Recording
◍ The Licensing and Renewal Process.
Answer: Pre-licensingPost-licensingContinuing Education (CE)
◍ postdated check.
Answer: Promissory note and can be earnest money with seller's approval
◍ Commission Quasi-Legislative Powers.
Answer: - Make and pass rules that regulate the operation of licensees.
Implement and interpret law. - Cannot be delegated, must be a quorum
vote.- These rules do not require other approval, become effective 20 days
after filled with the secretary of state. These cannot be in conflict with the
U.S. Constitution.
◍ Pre-Licensing Education.
Answer: 1. Complete Req. SA or Broker education and pass course final
exam with 70% or more.2. Submit app for state exam, payment fee for
license3. Submit electronic fingerprints for background check4. Pass state
examination with 75% or more (inactive license)5. Obtain employment and
file (active license)
◍ Civil Penalties.
Answer: Fines or financial payments imposed by a state or federal agency
for violation of laws or regulations. Imposed to compensate rather than
, punishment.- Commission helps in case of fraud from licensee.
◍ The secondary market:.
Answer: Is funded by investors
◍ Commission Ministerial Powers.
Answer: - Record keeping and clerical functions, the Division employees.
◍ CH4 Common Law.
Answer: - Unwritten Law, not passed by legislature- Sum of court decisions
over time- Compensatory Damages: civil penalties, from measurable loss.-
Punitive Damages: monetary penalty, additional.
◍ Licensure and Registration.
Answer: - Licensure: granting license to practice profession.- Registration:
placing and keeping on record the name and address of an individual or
business. Kept by DRE-SA, BA, and brokers are automatically licensed and
registered. But brokerage sties only registered.-Individuals are both licensed
and registered while businesses only registered.
◍ Continuing Education (CE).
Answer: - Renewing without completing cont ed is fraudalent!- if not
complete, status changes to "involuntary inactive"- 14 hours- Classroom:
Must attend 90% of time, no exam- Online: must take 30 question exam
with 80% or higher
◍ The State License Exam.
Answer: - By independent testing service that charges a fee to take the exam
with them. - Has 100 multiple-choice questions, 45 RE Law, 45 RE
Principles and Practices, 10 RE Mathematics.- Must get 75% or more to
pass exam.- If passed, Department will receive letter with applicant picture
indicading passed exam. Has inactive license, must now get employed for
active license- If failed, will receive letter with score by category. Must wait
at least 24 hours to retake exam. Applicant can schedule appointment to
review wrong answers
◍ Rendering an opinion of title.
