STUDENTS SUCCESS
Revision Examination Tests
“Come all for this greatness”
...100% Correct Ans...
ECS1601 PACK ASSIGNMENTS QUESTIONS AND ANSWER
PACKAGES PRINCIPALS OF ECONOMICS 2025 - DISTINCTION
GUARANTEED 100%
A $1.5 billion agency regulating one million professionals and
businesses across some 200 licensee categories in Florida is:
ans:>The Florida Department of Business and Professional Regulation.
Who elects the Chairperson of the FREC?
ans:>The FREC Members
What is the primary mission of FREC?
ans:>To protect the public
Nelson just received his Florida license. Which of the following will NOT
be on the license?
ans:>An Equal Housing Opportunity Logo
Broker Norman failed to display an office entrance sign. Which
disciplinary action is Norman most likely to receive?
ans:>A citation
Jane cheated on her real estate examination and was caught. What will
happen?
ans:>Jane will have her application denied.
A veteran sales associate's license expired on September 30. What will
be the status of the license on Oct. 1?
ans:>The license is involuntarily inactive.
,Katherine loves to show and sell houses for others for compensation.
She has been doing so for two years and without a license. She has
been caught and she wants to obtain a license. What is likely to
happen?
ans:>The FREC may deny her license since she was holding herself out
to be a licensee, practicing real estate in the previous year.
The Real Estate Recovery Fund
ans:>Was designed to serve as consumer protection for those
consumers who were harmed in a real estate transaction.
Jane is a college graduate with a four-year degree in real estate. She
has a sales associate's license and seeks to renew the license for the
second time. What must she do?
ans:>She must take 14 hours of continued education. She must fill out
the form, pay the fee, and return it before the expiration date.
In a licensee's personal business budget, a trade association fee would
qualify as what type of expense?
ans:>Operating expense
What does it mean to "qualify" a seller in real estate?
ans:>To find out if the seller is truly ready to sell
When you are developing your Target Market Summary, you should:
ans:>Select an area with which you are familiar and in which you are
comfortable.
You are scheduled for "floor time" tomorrow. What is "floor time"?
ans:>When an agent is in the office to receive phone calls from
prospective clients
A possible client walks into your office and says he wants to buy a
house. He has not talked to a mortgage agent yet, but he says he can
pay 25% down and already knows how much of a monthly payment he
can afford. He wants to move in the next 90 days. What should your next
step be?
ans:>Advise him to speak with a mortgage agent and get, at minimum,
pre-qualified, but preferably pre-approved for a loan.
Which of the following is a benefit of developing a Business and
Marketing Plan?
ans:>It will help you set clear goals and stay focused.
,One of your least favorite things to do is write your monthly newsletter.
But it has to be out by the end of the week, and you have scheduled
yourself time to work on it today. Where should it be on your "to-do" list?
ans:>First on the list so you can get it over with and move on to things
you enjoy.
According to the course, people should have
ans:>Three months' salary in savings.
You have been an agent for six months. You are reviewing your
activities and their results. You find that you are getting one listing
appointment for every 20 expired listings you call. You also find that you
are getting one for every ten FSBOs you call. You should:
ans:>Spend less time on Expireds and more on FSBOs, since that is
where you are getting the best results.
You are creating a form to track your performance as a Real Estate
agent. What activity should not be included on the form?
ans:>Floor time. Because it is scheduled by your office, and you can use
the time for other things; it does not need to be tracked.
What type of legal notice would most likely provide leads?
ans:>Foreclosures
Which of the following is NOT an exception to the Do-Not-Call laws?
ans:>You can call as long as you block your company name and
number.
Which of the following is most important to have on a licensee's personal
website?
ans:>The licensee's contact information
Once you have sent your friends and family a letter of introduction
regarding your real estate practice:
ans:>You should follow-up with a phone call in a day or two.
When someone whose previous listing expired tells you mistakes the
previous agent made:
ans:>Comment on the action, not the agent, and explain how a different
action might produce different results next time.
, What should you give to potential customers when prospecting door-to-
door?
ans:>Your business card
If you prefer meeting people face-to-face, select a neighborhood and go
knocking on doors. When you go, you should:
ans:>Dress professionally
You are trying to select a "farm" area and you have narrowed the
choices down to four areas, as follows. Among the alternatives, which
would be the best choice?
ans:>An area close to your own house, where the 125 homes are similar
to yours and familiar to you.
What is the primary advantage of selling your own home without an
agent?
ans:>That you do not have to pay $1000's in the form of a commission
When prospecting FSBOs:
ans:>Call and ask if you can view the house and ask if they are willing to
work with you if you find a buyer.
A house was listed for $400,000 and it sold for 93% of its listing price.
There was no mortgage lien on the property. The brokers' commission
was 7% of the sales price. Other closing costs came to 1% of sales
price. What was the seller's net?
ans:>$342,240
Which of the following questions will not help you determine a home's
best list price?
ans:>How much do you think your home is worth?
When developing a marketing plan for the CMA you should:
ans:>Include how often you intend to hold open houses.
According to what theory should an aged house be demolished and
replaced with high-rise condominiums?
ans:>Highest and Best Use
When determining market value of a home, "conformity" means:
ans:>That the homes in a particular neighborhood should be similar in
size and style.
Revision Examination Tests
“Come all for this greatness”
...100% Correct Ans...
ECS1601 PACK ASSIGNMENTS QUESTIONS AND ANSWER
PACKAGES PRINCIPALS OF ECONOMICS 2025 - DISTINCTION
GUARANTEED 100%
A $1.5 billion agency regulating one million professionals and
businesses across some 200 licensee categories in Florida is:
ans:>The Florida Department of Business and Professional Regulation.
Who elects the Chairperson of the FREC?
ans:>The FREC Members
What is the primary mission of FREC?
ans:>To protect the public
Nelson just received his Florida license. Which of the following will NOT
be on the license?
ans:>An Equal Housing Opportunity Logo
Broker Norman failed to display an office entrance sign. Which
disciplinary action is Norman most likely to receive?
ans:>A citation
Jane cheated on her real estate examination and was caught. What will
happen?
ans:>Jane will have her application denied.
A veteran sales associate's license expired on September 30. What will
be the status of the license on Oct. 1?
ans:>The license is involuntarily inactive.
,Katherine loves to show and sell houses for others for compensation.
She has been doing so for two years and without a license. She has
been caught and she wants to obtain a license. What is likely to
happen?
ans:>The FREC may deny her license since she was holding herself out
to be a licensee, practicing real estate in the previous year.
The Real Estate Recovery Fund
ans:>Was designed to serve as consumer protection for those
consumers who were harmed in a real estate transaction.
Jane is a college graduate with a four-year degree in real estate. She
has a sales associate's license and seeks to renew the license for the
second time. What must she do?
ans:>She must take 14 hours of continued education. She must fill out
the form, pay the fee, and return it before the expiration date.
In a licensee's personal business budget, a trade association fee would
qualify as what type of expense?
ans:>Operating expense
What does it mean to "qualify" a seller in real estate?
ans:>To find out if the seller is truly ready to sell
When you are developing your Target Market Summary, you should:
ans:>Select an area with which you are familiar and in which you are
comfortable.
You are scheduled for "floor time" tomorrow. What is "floor time"?
ans:>When an agent is in the office to receive phone calls from
prospective clients
A possible client walks into your office and says he wants to buy a
house. He has not talked to a mortgage agent yet, but he says he can
pay 25% down and already knows how much of a monthly payment he
can afford. He wants to move in the next 90 days. What should your next
step be?
ans:>Advise him to speak with a mortgage agent and get, at minimum,
pre-qualified, but preferably pre-approved for a loan.
Which of the following is a benefit of developing a Business and
Marketing Plan?
ans:>It will help you set clear goals and stay focused.
,One of your least favorite things to do is write your monthly newsletter.
But it has to be out by the end of the week, and you have scheduled
yourself time to work on it today. Where should it be on your "to-do" list?
ans:>First on the list so you can get it over with and move on to things
you enjoy.
According to the course, people should have
ans:>Three months' salary in savings.
You have been an agent for six months. You are reviewing your
activities and their results. You find that you are getting one listing
appointment for every 20 expired listings you call. You also find that you
are getting one for every ten FSBOs you call. You should:
ans:>Spend less time on Expireds and more on FSBOs, since that is
where you are getting the best results.
You are creating a form to track your performance as a Real Estate
agent. What activity should not be included on the form?
ans:>Floor time. Because it is scheduled by your office, and you can use
the time for other things; it does not need to be tracked.
What type of legal notice would most likely provide leads?
ans:>Foreclosures
Which of the following is NOT an exception to the Do-Not-Call laws?
ans:>You can call as long as you block your company name and
number.
Which of the following is most important to have on a licensee's personal
website?
ans:>The licensee's contact information
Once you have sent your friends and family a letter of introduction
regarding your real estate practice:
ans:>You should follow-up with a phone call in a day or two.
When someone whose previous listing expired tells you mistakes the
previous agent made:
ans:>Comment on the action, not the agent, and explain how a different
action might produce different results next time.
, What should you give to potential customers when prospecting door-to-
door?
ans:>Your business card
If you prefer meeting people face-to-face, select a neighborhood and go
knocking on doors. When you go, you should:
ans:>Dress professionally
You are trying to select a "farm" area and you have narrowed the
choices down to four areas, as follows. Among the alternatives, which
would be the best choice?
ans:>An area close to your own house, where the 125 homes are similar
to yours and familiar to you.
What is the primary advantage of selling your own home without an
agent?
ans:>That you do not have to pay $1000's in the form of a commission
When prospecting FSBOs:
ans:>Call and ask if you can view the house and ask if they are willing to
work with you if you find a buyer.
A house was listed for $400,000 and it sold for 93% of its listing price.
There was no mortgage lien on the property. The brokers' commission
was 7% of the sales price. Other closing costs came to 1% of sales
price. What was the seller's net?
ans:>$342,240
Which of the following questions will not help you determine a home's
best list price?
ans:>How much do you think your home is worth?
When developing a marketing plan for the CMA you should:
ans:>Include how often you intend to hold open houses.
According to what theory should an aged house be demolished and
replaced with high-rise condominiums?
ans:>Highest and Best Use
When determining market value of a home, "conformity" means:
ans:>That the homes in a particular neighborhood should be similar in
size and style.
