FL Real Estate Exam Practice Questions WITH BEST RATED ANSWERS (LATEST 2024)

Which statement is true regarding the use of the term REALTOR? All real estate licensees are REALTORS All REALTORS are members of the National Association of REALTORS (NAR) The terms real estate licensee and REALTOR may be used interchangeably The Florida DBPR authorizes the use of the term REALTOR - Answer- All REALTORS are members of the National Association of REALTORS (NAR) The term follow up refers to...? - Answer- what a sales associate does for buyers and sellers after the sale Even though certain exceptions apply, an active real estate licensee is legally entitled to appraise real property for compensation concerning a nonfederally related transaction - Answer- As long as she does not represent herself as a state-certified or licensed appraiser and complies with USPAP The field of property management has experienced growth and specialization primarily because of...? - Answer- the increase in the number of absentee owners Real estate licensees must comply with the Uniform Standards of Professional Appraisal Practice (USPAP) when conducting which value estimates? - Answer- Appraisals Appraisers are paid a fee because - Answer- to accept compensation based on the appraised value is a conflict of interest The five major sales specialties do NOT include agricultural special use commercial businesses - Answer- Special use The real estate activity that is devoted to leasing, managing, marketing, and overall maintenance of property for others is called - Answer- Property management Which kind of construction involves building to buyer's specifications? - Answer- Custom homes The term dedication as it applies to development and construction refers to...? - Answer- A gift of land by the owner to the local government for public use What type of license is required to sell or lease business opportunities for another person? - Answer- Real estate license Selecting a limited geographical area in which a real estate professional develops special expertise is - Answer- Farming Managing which type of property of more than 10 units requires a CAM license? - Answer- Condominium complex Effective advertising involving developing a database of prospects to direct a specific message is called - Answer- Target marketing A broker charges a prospective seller $50 for a comparative market analysis (CMA) . Which statement applies?