BOB HOGUE FLORIDA REAL ESTATE FINAL EXAM
2024/2025 WITH 100% ACCURATE SOLUTIONS
In Florida, real property is assessed on January 1 of each year, and
property taxes become a lien on the property on - Precise Answer
✔✔January 1, the same year.
Failure to comply with the statute of frauds will result in - Precise
Answer ✔✔an unenforceable contract.
A woman has homesteaded her residence. Her home has an assessed
value of $279,000. She is a nonveteran who is totally and permanently
disabled as a result of a serious car accident. She is also legally blind.
What is her cumulative county tax exemption on her homesteaded
residence? - Precise Answer ✔✔$51,000
A developer who wants to develop a new subdivision must submit -
Precise Answer ✔✔a subdivision plat map to the planning commission.
Individuals who solicit mortgage loans, accept applications for mortgage
loans, and negotiate the terms of new mortgage loans on behalf of a
borrower are called mortgage - Precise Answer ✔✔loan originators.
The following taxes were paid at the closing of a new home: $1,540
state documentary stamp tax on the deed, $693 state documentary stamp
,tax on the note, and $396 state intangible tax on the mortgage. What was
the purchase price of the home? - Precise Answer ✔✔$220,000
Which statement is FALSE regarding advertising? - Precise Answer
✔✔The brokerage firm's address is required in all advertising.
A broker's license was involuntary inactive for two years and one month.
To operate again as an active licensee, the broker must complete -
Precise Answer ✔✔FREC Course I and pass the sales associate's
licensing exam.
A comparable property has one more bedroom ($8,000) and is on a
slightly larger lot ($2,000) than the subject property. The comparative
market analysis requires a net adjustment of - Precise Answer ✔✔minus
$10,000 to the comparable property.
If a seller refuses to pay a broker her sales commission after the
residential property is sold, the broker may - Precise Answer ✔✔file a
suit in the courts for her commission.
Which variable does NOT influence demand? - Precise Answer
✔✔Availability of construction loans
A property closes on June 10, with the day of closing charged to the
buyer. The buyer is assuming the seller's mortgage loan with its
principal balance of $227,500 at 4.5% interest. Which entry will appear
,on the Closing Disclosure? - Precise Answer ✔✔Debit to seller and
credit to buyer in the amount of $252.43
The formula to calculate the overall capitalization rate is - Precise
Answer ✔✔NOI ÷ value (or price).
The owner of a hardware store has filed for bankruptcy and the real
estate is up for sale. The money that the property will bring at auction is
BEST described as which type of value? - Precise Answer
✔✔Liquidation value
The duties of a real estate licensee, owed to a buyer or a seller who
engages the real estate licensee as a single agent, do NOT include -
Precise Answer ✔✔limited confidentiality, unless waived in writing by
a party.
Which property is NOT covered under the Fair Housing Act? - Precise
Answer ✔✔Commercial property
Which statement does NOT describe a planned unit development? -
Precise Answer ✔✔Industrial parks are a welcomed offshoot of the
PUD concept.
Requirements of a valid deed do NOT include - Precise Answer
✔✔signature of a competent grantee.
, You have been hired to appraise the local public library building. The
approach that is likely to be the MOST relevant is the - Precise Answer
✔✔cost approach.
In relation to section 1 of a township, section 12 is due - Precise Answer
✔✔south.
The bundle of legal rights associated with real property ownership does
NOT include the right of - Precise Answer ✔✔intent.
Constructive notice is - Precise Answer ✔✔provided by recording in the
public records.
Which expense is subtracted to derive NOI? - Precise Answer
✔✔Vacancy and collection losses
Eligible homestead owners may transfer up to what amount of their Save
Our Homes (SOH) benefit from their previous homestead to a new
homestead? - Precise Answer ✔✔$500,000
The original law requiring that the annual percentage rate be disclosed to
consumers was the - Precise Answer ✔✔Truth in Lending Act.
A title-theory state is one in which a mortgage - Precise Answer
✔✔transfers title to the lender or escrow agent until the loan is paid.
2024/2025 WITH 100% ACCURATE SOLUTIONS
In Florida, real property is assessed on January 1 of each year, and
property taxes become a lien on the property on - Precise Answer
✔✔January 1, the same year.
Failure to comply with the statute of frauds will result in - Precise
Answer ✔✔an unenforceable contract.
A woman has homesteaded her residence. Her home has an assessed
value of $279,000. She is a nonveteran who is totally and permanently
disabled as a result of a serious car accident. She is also legally blind.
What is her cumulative county tax exemption on her homesteaded
residence? - Precise Answer ✔✔$51,000
A developer who wants to develop a new subdivision must submit -
Precise Answer ✔✔a subdivision plat map to the planning commission.
Individuals who solicit mortgage loans, accept applications for mortgage
loans, and negotiate the terms of new mortgage loans on behalf of a
borrower are called mortgage - Precise Answer ✔✔loan originators.
The following taxes were paid at the closing of a new home: $1,540
state documentary stamp tax on the deed, $693 state documentary stamp
,tax on the note, and $396 state intangible tax on the mortgage. What was
the purchase price of the home? - Precise Answer ✔✔$220,000
Which statement is FALSE regarding advertising? - Precise Answer
✔✔The brokerage firm's address is required in all advertising.
A broker's license was involuntary inactive for two years and one month.
To operate again as an active licensee, the broker must complete -
Precise Answer ✔✔FREC Course I and pass the sales associate's
licensing exam.
A comparable property has one more bedroom ($8,000) and is on a
slightly larger lot ($2,000) than the subject property. The comparative
market analysis requires a net adjustment of - Precise Answer ✔✔minus
$10,000 to the comparable property.
If a seller refuses to pay a broker her sales commission after the
residential property is sold, the broker may - Precise Answer ✔✔file a
suit in the courts for her commission.
Which variable does NOT influence demand? - Precise Answer
✔✔Availability of construction loans
A property closes on June 10, with the day of closing charged to the
buyer. The buyer is assuming the seller's mortgage loan with its
principal balance of $227,500 at 4.5% interest. Which entry will appear
,on the Closing Disclosure? - Precise Answer ✔✔Debit to seller and
credit to buyer in the amount of $252.43
The formula to calculate the overall capitalization rate is - Precise
Answer ✔✔NOI ÷ value (or price).
The owner of a hardware store has filed for bankruptcy and the real
estate is up for sale. The money that the property will bring at auction is
BEST described as which type of value? - Precise Answer
✔✔Liquidation value
The duties of a real estate licensee, owed to a buyer or a seller who
engages the real estate licensee as a single agent, do NOT include -
Precise Answer ✔✔limited confidentiality, unless waived in writing by
a party.
Which property is NOT covered under the Fair Housing Act? - Precise
Answer ✔✔Commercial property
Which statement does NOT describe a planned unit development? -
Precise Answer ✔✔Industrial parks are a welcomed offshoot of the
PUD concept.
Requirements of a valid deed do NOT include - Precise Answer
✔✔signature of a competent grantee.
, You have been hired to appraise the local public library building. The
approach that is likely to be the MOST relevant is the - Precise Answer
✔✔cost approach.
In relation to section 1 of a township, section 12 is due - Precise Answer
✔✔south.
The bundle of legal rights associated with real property ownership does
NOT include the right of - Precise Answer ✔✔intent.
Constructive notice is - Precise Answer ✔✔provided by recording in the
public records.
Which expense is subtracted to derive NOI? - Precise Answer
✔✔Vacancy and collection losses
Eligible homestead owners may transfer up to what amount of their Save
Our Homes (SOH) benefit from their previous homestead to a new
homestead? - Precise Answer ✔✔$500,000
The original law requiring that the annual percentage rate be disclosed to
consumers was the - Precise Answer ✔✔Truth in Lending Act.
A title-theory state is one in which a mortgage - Precise Answer
✔✔transfers title to the lender or escrow agent until the loan is paid.
