Florida Real Estate 2024 EXAM QUESTION AND ANSWERS 100% VERIFIED

Brokers who list and sell smaller businesses are - Answer- business opportunity brokers. Before roadbuilding begins, a developer must submit a document to the local planning board for approval. The document is called a - Answer- subdivision plat map. Investors who don't live on the properties they own are - Answer- absentee owners. Real estate specialists who sell properties close to airports, seaports, and rail sidings work in which sector of the real estate business? - Answer- Industrial The field of real estate that requires knowledge of financial statements for investment properties, traffic counts, and types of nonresidential property financing is - Answer- commercial. A real estate licensee who works a "farm area" is usually involved in - Answer- residential sales and listings. A person who takes applications for a mortgage loan must - Answer- be licensed as a loan originator by the Florida Office of Financial Regulation. Approximately what percentage of the country's wealth is related to real estate? - Answer- 75 When a developer deeds the streets and easements to the county government for future maintenance, it is called - Answer- dedication. When making appraisals, real estate licensees must conform to - Answer- the Uniform Standards of Professional Appraisal Practice (USPAP). A sales associate who researches the sale prices of properties that sold will learn - Answer- what the house should appraise for. When a builder builds a house for a specific customer, it is - Answer- custom building. The most common valuation process used by brokers and sales associates is the preparation of - Answer- a comparative market analysis (CMA). A bank appraisal must be made by - Answer- a state-certified or licensed appraiser. A broker who prepares a CMA - Answer- can charge a fee for the service.