Florida Real Estate Exam TEST Questions WITH 100%
Correct Answers LATEST UPDATE 2023/2024
Binder deposit shows up as what on closing statement? - ANSWER--
Credit to buyer
Which of the following is true about leverage? - ANSWER--Leverage is the
use of borrowed funds to purchase assets.
Which of the following liens would take priority? - ANSWER--A property
tax lien
In which of the following theories of mortgage lending does the borrower
not retain ownership of the property during the loan period? - ANSWER--
Title theory
What is the status of a sales associate's license if he does not complete the
required 45-hour post license course before the first expiration of his
license? - ANSWER--Null and void
Which mortgage clause allows the mortgagee the right to demand the
outstanding loan balance plus accrued interest in the event that the
borrower sells or transfers any interest in the property without the lenders
prior written consent? - ANSWER--Due-on-sale clause
Which of the following is the type of method a surveyor would use to
describe a property that is in a subdivision? - ANSWER--The lot and block
method
Which of the following is also called "legal notice" and is the act of
recording documents in the public records? - ANSWER--Constructive
notice
What kind of rights are associated with water flowing through your
property? - ANSWER--Riparian rights
Which of the following expenses associated with a principal residence are
deductible for income tax purposes? - ANSWER--Mortgage interest and
property taxes
, Florida Real Estate Exam TEST Questions WITH 100%
Correct Answers LATEST UPDATE 2023/2024
In platted subdivision, the legal description most often used is? - ANSWER-
-Lot and block
An option contract is a? - ANSWER--Unilateral contract
Assuming that the broker is a seller's agent, the sales commission would
appear most commonly on the closing disclosure as a? - ANSWER--Debit
to seller
Harold filed his application for sales associate licensure 31 days ago. To
date he has not heard if his application has been approved or not. What is
the status of Harold's application? - ANSWER--It is still pending approval
until 90 days have passed.
A licensed broker in Georgia moved to Florida 6 months ago and now
wants to apply for a Florida broker's license under the mutual recognition
agreement between Florida and Georgia. What must the broker do to
obtain the Florida license under this agreement? - ANSWER--The broker
is not eligible for a Florida license under the mutual recognition
agreement.
Lisa is a full-time graduate student in an appraising degree program at the
University of South Florida. All of Lisa's appraisal activities are being
supervised by Ken who is a licensed real estate broker. What type of
license must Lisa have to perform the appraisal activities she is involved
in? - ANSWER--No license
If Charlie submits an application for licensure, completes the educational
requirements, but does not pass the licensing exam, when will Charlie's
application expire? - ANSWER--2 years after it was received
To meet the continuing education requirements for either a sales associate
or a broker, what can a licensee substitute for 3 classroom hours of
coursework? - ANSWER--A Attendance at a legal agenda session of the
Commission
B An approved course on real estate issues relevant to the modern practice
of real estate by a licensee
C An approved course on technology used in the real estate industry
, Florida Real Estate Exam TEST Questions WITH 100%
Correct Answers LATEST UPDATE 2023/2024
D Any of the above
A broker's post-license education requirement includes - ANSWER--
passing end-of-course exam.
Ted is a licensed real estate broker in Florida, but he is moving to North
Dakota to live. What should Ted do about his Florida broker license? -
ANSWER--Notify the Commission of his change of residency and
comply with nonresident requirements
If an applicant omitted information on the license application, within what
time frame must the applicant be notified to correct the error? - ANSWER--
30 days
If an applicant makes an error on the license application, the license may
be denied if the error is not corrected. What is the exception to this rule? -
ANSWER--The applicant was not notified of the error within the
designated time period.
Which Florida statute or code covers the Commission's administrative rules
that include detailed principles for real estate practice? - ANSWER--
Chapter 61J2
Which statute established general provisions for the Department of
Business and Professional Regulation? - ANSWER--Chapter 455
Which of the following is the most accurate definition of real estate broker?
- ANSWER--A person who buys or sells real estate on behalf of others
for compensation
Which Florida statute establishes real estate licensees' legal rights and
responsibilities? - ANSWER--Chapter 475
What is the best definition for "real estate"? - ANSWER--Interest in land,
business enterprises, or business opportunities with some exceptions
Which of the following is a requirement of the general licensing provisions?
- ANSWER--Social Security number
, Florida Real Estate Exam TEST Questions WITH 100%
Correct Answers LATEST UPDATE 2023/2024
Florida sales associate educational requirements include - ANSWER--14
hours of continuing education every 2 years
Florida broker pre-license requirements include - ANSWER--72 hours of
pre-licensing coursework.
Which of the following real estate services can legally be offered by
someone not licensed as a real estate broker, broker associate, or sales
associate? - ANSWER--An individual renting properly licensed public
lodging
Which of the following must be licensed as a real estate broker, broker
associate, or sales associate? - ANSWER--Anyone procuring purchasers
of business opportunities
The Florida Real Estate Commission consists of - ANSWER--seven
members, all appointed by the Governor.
Which of the following is true regarding the Florida Real Estate
Commission? - ANSWER--The Commission is responsible for fostering
the education of brokers in the principles that should govern their
conduct.
If a broker's license has become void during a period of economic
hardship, when can his license be reinstated? - ANSWER--It can be
reinstated within 6 months.
Tania has just received her sales associate license. When must she
complete her post-license education requirements? - ANSWER--Prior to
the first renewal of her license
Broker John changed his business address and did not notify the
Commission during the required time period. What is the status of John's
license? - ANSWER--It has ceased to be in force.
Correct Answers LATEST UPDATE 2023/2024
Binder deposit shows up as what on closing statement? - ANSWER--
Credit to buyer
Which of the following is true about leverage? - ANSWER--Leverage is the
use of borrowed funds to purchase assets.
Which of the following liens would take priority? - ANSWER--A property
tax lien
In which of the following theories of mortgage lending does the borrower
not retain ownership of the property during the loan period? - ANSWER--
Title theory
What is the status of a sales associate's license if he does not complete the
required 45-hour post license course before the first expiration of his
license? - ANSWER--Null and void
Which mortgage clause allows the mortgagee the right to demand the
outstanding loan balance plus accrued interest in the event that the
borrower sells or transfers any interest in the property without the lenders
prior written consent? - ANSWER--Due-on-sale clause
Which of the following is the type of method a surveyor would use to
describe a property that is in a subdivision? - ANSWER--The lot and block
method
Which of the following is also called "legal notice" and is the act of
recording documents in the public records? - ANSWER--Constructive
notice
What kind of rights are associated with water flowing through your
property? - ANSWER--Riparian rights
Which of the following expenses associated with a principal residence are
deductible for income tax purposes? - ANSWER--Mortgage interest and
property taxes
, Florida Real Estate Exam TEST Questions WITH 100%
Correct Answers LATEST UPDATE 2023/2024
In platted subdivision, the legal description most often used is? - ANSWER-
-Lot and block
An option contract is a? - ANSWER--Unilateral contract
Assuming that the broker is a seller's agent, the sales commission would
appear most commonly on the closing disclosure as a? - ANSWER--Debit
to seller
Harold filed his application for sales associate licensure 31 days ago. To
date he has not heard if his application has been approved or not. What is
the status of Harold's application? - ANSWER--It is still pending approval
until 90 days have passed.
A licensed broker in Georgia moved to Florida 6 months ago and now
wants to apply for a Florida broker's license under the mutual recognition
agreement between Florida and Georgia. What must the broker do to
obtain the Florida license under this agreement? - ANSWER--The broker
is not eligible for a Florida license under the mutual recognition
agreement.
Lisa is a full-time graduate student in an appraising degree program at the
University of South Florida. All of Lisa's appraisal activities are being
supervised by Ken who is a licensed real estate broker. What type of
license must Lisa have to perform the appraisal activities she is involved
in? - ANSWER--No license
If Charlie submits an application for licensure, completes the educational
requirements, but does not pass the licensing exam, when will Charlie's
application expire? - ANSWER--2 years after it was received
To meet the continuing education requirements for either a sales associate
or a broker, what can a licensee substitute for 3 classroom hours of
coursework? - ANSWER--A Attendance at a legal agenda session of the
Commission
B An approved course on real estate issues relevant to the modern practice
of real estate by a licensee
C An approved course on technology used in the real estate industry
, Florida Real Estate Exam TEST Questions WITH 100%
Correct Answers LATEST UPDATE 2023/2024
D Any of the above
A broker's post-license education requirement includes - ANSWER--
passing end-of-course exam.
Ted is a licensed real estate broker in Florida, but he is moving to North
Dakota to live. What should Ted do about his Florida broker license? -
ANSWER--Notify the Commission of his change of residency and
comply with nonresident requirements
If an applicant omitted information on the license application, within what
time frame must the applicant be notified to correct the error? - ANSWER--
30 days
If an applicant makes an error on the license application, the license may
be denied if the error is not corrected. What is the exception to this rule? -
ANSWER--The applicant was not notified of the error within the
designated time period.
Which Florida statute or code covers the Commission's administrative rules
that include detailed principles for real estate practice? - ANSWER--
Chapter 61J2
Which statute established general provisions for the Department of
Business and Professional Regulation? - ANSWER--Chapter 455
Which of the following is the most accurate definition of real estate broker?
- ANSWER--A person who buys or sells real estate on behalf of others
for compensation
Which Florida statute establishes real estate licensees' legal rights and
responsibilities? - ANSWER--Chapter 475
What is the best definition for "real estate"? - ANSWER--Interest in land,
business enterprises, or business opportunities with some exceptions
Which of the following is a requirement of the general licensing provisions?
- ANSWER--Social Security number
, Florida Real Estate Exam TEST Questions WITH 100%
Correct Answers LATEST UPDATE 2023/2024
Florida sales associate educational requirements include - ANSWER--14
hours of continuing education every 2 years
Florida broker pre-license requirements include - ANSWER--72 hours of
pre-licensing coursework.
Which of the following real estate services can legally be offered by
someone not licensed as a real estate broker, broker associate, or sales
associate? - ANSWER--An individual renting properly licensed public
lodging
Which of the following must be licensed as a real estate broker, broker
associate, or sales associate? - ANSWER--Anyone procuring purchasers
of business opportunities
The Florida Real Estate Commission consists of - ANSWER--seven
members, all appointed by the Governor.
Which of the following is true regarding the Florida Real Estate
Commission? - ANSWER--The Commission is responsible for fostering
the education of brokers in the principles that should govern their
conduct.
If a broker's license has become void during a period of economic
hardship, when can his license be reinstated? - ANSWER--It can be
reinstated within 6 months.
Tania has just received her sales associate license. When must she
complete her post-license education requirements? - ANSWER--Prior to
the first renewal of her license
Broker John changed his business address and did not notify the
Commission during the required time period. What is the status of John's
license? - ANSWER--It has ceased to be in force.
