Questions & 100% Correct Answers Latest 2025
Update Graded A+
Farming - correct answer -Concentrating on one type of style of property or
on one particular neighborhood
A residential transaction os defined in F.S. 475 as the sale of any: - correct
answer -- Duplex
- improved residential property of four units or fewer, including
condominium units
-unimproved property intended for four units or fewer
- agricultural properties of ten acres or less
- leases with options to purchase all or a portion of improved property of
four or fewer residential units
- dispositions of business interests for property of four or fewer residential
units
absentee owners - correct answer -owners who buy income property as
investments and depend on professionals to manage them
All appraisals, whether performed by a licensed appraiser or a real estate
licensee, must be developed and reported in conformity with the - correct
answer -Uniform Standards of Professional Appraisal Practice (USPAP)
The largest and most prestigious real estate organization in the world is
________. They work for legislation enforce professional standards of
conduct through its ________. - correct answer -1. The National Association
of Realtors (NAR)
2. Code of Ethics
, The largest trade association in the state is _________ - correct answer -The
Florida Association of Realtors (FAR)
The duties required by the Code of Ethics are: - correct answer -1. Duties to
clients and customers
2. Duties to the public in general
3. Duties to other real estate licensees
Required Skills for the Real estate professional are: - correct answer -1.
Valuation - Must be able to discern important differences between
properties and know ho to translate those differences into value. Must be
able to conduct a CMA.
2. Marketing - must have an understanding of the tools and technologies
available to market a property.
3. Property Transfer - understand how to close a transaction
Mission Statement - correct answer -description of a desired outcome that
excites, motivates, and helps you to create a mental picture of your business
goal.
Industrial Sales or Leasing - correct answer -include warehouses and
manufacturing facilities. Industrial sales and leasing generally involve
user/owners, rather than investors.
The law that specifically regulates real estate licensees, schools, and
appraisers is _________ - correct answer -F.S. 475
The Range Of Penalties for disobeying FS 475 or 455 from lowest to highest
is: - correct answer -Reprimand, fine, probation, suspension, and revocation
or denial.
Which is the maximum penalty for disobeying laws under FS 455 or FS 475 -
correct answer -Revocation or denial of license
If the licensee does not complete the 45 hour course before the expiration
date of their first renewal, the license becomes ____ - correct answer -void
and the licensee will be out of business. (have to start over everything)