FL Real Estate License Practice Exam 4 Questions and
Correct Answers, Complete Verified Solution 2024.
A real estate sales associate has her license placed with Acquire Realty. Under
what circumstances can this sales associate also work for Dolphin Realty on
weekends selling condominiums for compensation?
a. When she obtains a group license
b. When she obtains a multiple license
c. When she shows evidence there is no conflict of interest
d. Never
D
The clause in a deed that indicates the type of estate in a property is
known as the:
a. Seizen clause
b. Habendum clause
c. Reddendum clause
d. Granting clause
B
Bill has a one-year lease on a home on St. George Island. Three months into his
lease he decides to rent a spare bedroom to a friend. This type of arrangement is
known as:
a. Ground lease
b. An assignment of lease
c. A sublease
d. Net lease
C
Which of the following is considered an encumbrance but not a lien?
a. Mortgage
b. Deed restriction
c. Special assessment
d. Property taxes
B
Mr. Gunter, a resident of Naples, was purposely withholding the sale of a parcel
of land to the local electric company which affected the future welfare
of that fair community. The local electric company would have the right to acquire
that property through its power of:
a. Police power
b. Escheat
,c. Eminent domain
d. Quasi-government acquisition power
C
Which of the following business entities can broker real estate?
a. Corporation Sole
b. Non-profit Corporation
c. Unincorporated Association
d. Real Estate Investment Trust
B
Ted purchased a tax certificate and held it for two years. He can now:
a. File for a tax deed
b. File a writ of certiorari
c. File for a tax certificate
d. Sue the property owner for fraud
A
The method of describing real property that is considered the most accurate
method for irregularly shaped parcels of real estate is the:
a. Metes and bounds method
b. Plat method
c. Government method
d. Monuments method
A
A township is:
a. Six miles square
b. Thirty-six square miles
c. Thirty-six sections
d. All of the above
D
When a broker negotiates a commission on a property that will be listed, that
commission rate is based on:
a. A standard commission rate set by the local Association of Realtors
b. A standard commission rate set by the Florida Real Estate Commission
c. The ultimate listed price of the property
d. Negotiating at the time of the listing between the broker and the seller
D
Broker Al has a listing contract that allows him to put a sign in the seller's yard
and hold open houses on the weekends. In addition to this, the seller has
directed Broker Al to make the listing available to other brokers in town and has
promised that he will not list with anyone else during the term of Broker Al's
listing. The seller, however, has reserved the right to sell the property directly
without owing a commission to Al. This agreement would best be described as:
, a. An open listing
b. An exclusive right to sell agreement
c. An exclusive agency contract
d. A MLS listing contract
C
To be valid, a real estate sales contract must contain:
a. An earnest money deposit
b. An offer and acceptance
c. Evidence of two witnesses' signatures
d. All of the above
B
If a buyer makes an offer and the seller makes a counteroffer, the buyer:
a. Is bound by the original offer
b. Must accept the counteroffer
c. Is no longer bound to the original offer
d. Remains the offeror
C
The phrase "time is of the essence" means:
a. The buyer wants to take possession quickly.
b. The seller wants to close quickly.
c. Time deadlines must be strictly enforced.
d. A specified period of time must lapse before the contract becomes valid.
C
In case of breach by the buyer, most real estate sales contracts include a
provision that the earnest money be regarded as:
a. Liquidated damages to the broker
b. Liquidated damages to the seller
c. Unliquidated damages to the seller
d. Unliquidated damages to broker
B
A banking practice in which lenders refuse to make loans in certain areas
because of discriminatory reasons is known as:
a. Redlining
b. Blockbusting
c. Steering
d. Underwriting
A
The Federal National Mortgage Association was originally created to purchase
which of the following?
Correct Answers, Complete Verified Solution 2024.
A real estate sales associate has her license placed with Acquire Realty. Under
what circumstances can this sales associate also work for Dolphin Realty on
weekends selling condominiums for compensation?
a. When she obtains a group license
b. When she obtains a multiple license
c. When she shows evidence there is no conflict of interest
d. Never
D
The clause in a deed that indicates the type of estate in a property is
known as the:
a. Seizen clause
b. Habendum clause
c. Reddendum clause
d. Granting clause
B
Bill has a one-year lease on a home on St. George Island. Three months into his
lease he decides to rent a spare bedroom to a friend. This type of arrangement is
known as:
a. Ground lease
b. An assignment of lease
c. A sublease
d. Net lease
C
Which of the following is considered an encumbrance but not a lien?
a. Mortgage
b. Deed restriction
c. Special assessment
d. Property taxes
B
Mr. Gunter, a resident of Naples, was purposely withholding the sale of a parcel
of land to the local electric company which affected the future welfare
of that fair community. The local electric company would have the right to acquire
that property through its power of:
a. Police power
b. Escheat
,c. Eminent domain
d. Quasi-government acquisition power
C
Which of the following business entities can broker real estate?
a. Corporation Sole
b. Non-profit Corporation
c. Unincorporated Association
d. Real Estate Investment Trust
B
Ted purchased a tax certificate and held it for two years. He can now:
a. File for a tax deed
b. File a writ of certiorari
c. File for a tax certificate
d. Sue the property owner for fraud
A
The method of describing real property that is considered the most accurate
method for irregularly shaped parcels of real estate is the:
a. Metes and bounds method
b. Plat method
c. Government method
d. Monuments method
A
A township is:
a. Six miles square
b. Thirty-six square miles
c. Thirty-six sections
d. All of the above
D
When a broker negotiates a commission on a property that will be listed, that
commission rate is based on:
a. A standard commission rate set by the local Association of Realtors
b. A standard commission rate set by the Florida Real Estate Commission
c. The ultimate listed price of the property
d. Negotiating at the time of the listing between the broker and the seller
D
Broker Al has a listing contract that allows him to put a sign in the seller's yard
and hold open houses on the weekends. In addition to this, the seller has
directed Broker Al to make the listing available to other brokers in town and has
promised that he will not list with anyone else during the term of Broker Al's
listing. The seller, however, has reserved the right to sell the property directly
without owing a commission to Al. This agreement would best be described as:
, a. An open listing
b. An exclusive right to sell agreement
c. An exclusive agency contract
d. A MLS listing contract
C
To be valid, a real estate sales contract must contain:
a. An earnest money deposit
b. An offer and acceptance
c. Evidence of two witnesses' signatures
d. All of the above
B
If a buyer makes an offer and the seller makes a counteroffer, the buyer:
a. Is bound by the original offer
b. Must accept the counteroffer
c. Is no longer bound to the original offer
d. Remains the offeror
C
The phrase "time is of the essence" means:
a. The buyer wants to take possession quickly.
b. The seller wants to close quickly.
c. Time deadlines must be strictly enforced.
d. A specified period of time must lapse before the contract becomes valid.
C
In case of breach by the buyer, most real estate sales contracts include a
provision that the earnest money be regarded as:
a. Liquidated damages to the broker
b. Liquidated damages to the seller
c. Unliquidated damages to the seller
d. Unliquidated damages to broker
B
A banking practice in which lenders refuse to make loans in certain areas
because of discriminatory reasons is known as:
a. Redlining
b. Blockbusting
c. Steering
d. Underwriting
A
The Federal National Mortgage Association was originally created to purchase
which of the following?
