Florida Real Estate Broker Exam with complete verified solutions latest update
Technical skills - correct answer Skills that include time management, preparing Cmas, and
completing contracts.
Desk cost - correct answer Dividing total office expenses by number of sales associates
Institutional advertising - correct answer Advertising that describes the firm, its personnel, and
its services.
Fixed expense - correct answer Occupancy costs are an example of what type of expenses?
Cash basis accounting - correct answer What is the most simple type of accounting and is used
by most small business taxpayers?
100 sqft - correct answer What is the minimum amount of sqft a sales associate should have for
office space?
Managing by exception - correct answer When a broker compare the results of his income and
expense statements with the budget, finds variances, and takes corrective action, he is using
what philosophy of management?
Business plan - correct answer A document that provides direction for an organization as well
as all the steps and procedures involved in accomplishing its goals.
January 31 - correct answer What is the latest date that a broker can give thier employees w-2
forms and give thejr associates form 1099 for the previous year?
Variable expense - correct answer What type of expense are commissions paid to sales
associates?
Commingling - correct answer The illegal practice of mixing a customers funds with brokers
own funds.
Conversion - correct answer The unauthorized use or possession of another persons property.
Trust liability - correct answer The total sum of all deposits recieved
3rd Degree Felony - correct answer Practicing real estate without a license is what type of
penalty?
two members - correct answer How many serve on the probable cause panel?
Chairman of FREC - correct answer Who appoints two members to serve on the probable cause
panel?
$150,000 - correct answer What is the max payment based on judgments against one broker or
sales associate from the Real Estate Recovery Fund?
Administrative Law Judge - correct answer Who submits a recommended order to the DBPR?
, Florida Real Estate Broker Exam with complete verified solutions latest update
15 days - correct answer How many days does a broker have to fix an issue once received a
notice of noncompliance?
Stipulation - correct answer A voluntary agreement between opposing counsels in a disciplinary
case is called what?
1st degree Misdemeanor - correct answer Failing to provide accurate and current rental info for
a fee holds what kind of penalty?
$5000 - correct answer What is the max fine for each violation under Chapter 455 that a
licensee could be fined?
Appraisal Qualifications Board - correct answer What is the source within the appraisal
profession for establishing minimum education and experience?
Principle of diminishing returns/ overimprovement - correct answer When an owner adds a
third bedroom to a home and the increase in the homes value is LESS than the cost of
improvement.
Market Value - correct answer The consensus of the interactions of many buyers and sellers in
a particular market.
B. Must be Written - correct answer Appraisals involving federally related transactions: A.may
be oral or written? B. must be written
Sales comparison approach to value - correct answer An approach to value based on the theory
that knowledgeable purchaser would pay no more than the cost of acquiring a substitute
property.
Cost-depreciation approach - correct answer An approach to value based on the theory that a
knowledgeable purchaser would pay no more than the cost of acquiring an equally desirable
site, combined with building an acceptable substitute structure.
Negative - correct answer Do External diseconomies have a negative or positive impact on
value?
External economies - correct answer What result from positive external factors that enhance
property value?
The Principle of Anticipation - correct answer What principle is based on the premise that the
expectation of future benefits creates value?
USPAP - correct answer What are the accepted standards for real estate appraising called?
Certified Residential Appriaser - correct answer What type of appraiser can issue reports only
for one to four residential units?
Technical skills - correct answer Skills that include time management, preparing Cmas, and
completing contracts.
Desk cost - correct answer Dividing total office expenses by number of sales associates
Institutional advertising - correct answer Advertising that describes the firm, its personnel, and
its services.
Fixed expense - correct answer Occupancy costs are an example of what type of expenses?
Cash basis accounting - correct answer What is the most simple type of accounting and is used
by most small business taxpayers?
100 sqft - correct answer What is the minimum amount of sqft a sales associate should have for
office space?
Managing by exception - correct answer When a broker compare the results of his income and
expense statements with the budget, finds variances, and takes corrective action, he is using
what philosophy of management?
Business plan - correct answer A document that provides direction for an organization as well
as all the steps and procedures involved in accomplishing its goals.
January 31 - correct answer What is the latest date that a broker can give thier employees w-2
forms and give thejr associates form 1099 for the previous year?
Variable expense - correct answer What type of expense are commissions paid to sales
associates?
Commingling - correct answer The illegal practice of mixing a customers funds with brokers
own funds.
Conversion - correct answer The unauthorized use or possession of another persons property.
Trust liability - correct answer The total sum of all deposits recieved
3rd Degree Felony - correct answer Practicing real estate without a license is what type of
penalty?
two members - correct answer How many serve on the probable cause panel?
Chairman of FREC - correct answer Who appoints two members to serve on the probable cause
panel?
$150,000 - correct answer What is the max payment based on judgments against one broker or
sales associate from the Real Estate Recovery Fund?
Administrative Law Judge - correct answer Who submits a recommended order to the DBPR?
, Florida Real Estate Broker Exam with complete verified solutions latest update
15 days - correct answer How many days does a broker have to fix an issue once received a
notice of noncompliance?
Stipulation - correct answer A voluntary agreement between opposing counsels in a disciplinary
case is called what?
1st degree Misdemeanor - correct answer Failing to provide accurate and current rental info for
a fee holds what kind of penalty?
$5000 - correct answer What is the max fine for each violation under Chapter 455 that a
licensee could be fined?
Appraisal Qualifications Board - correct answer What is the source within the appraisal
profession for establishing minimum education and experience?
Principle of diminishing returns/ overimprovement - correct answer When an owner adds a
third bedroom to a home and the increase in the homes value is LESS than the cost of
improvement.
Market Value - correct answer The consensus of the interactions of many buyers and sellers in
a particular market.
B. Must be Written - correct answer Appraisals involving federally related transactions: A.may
be oral or written? B. must be written
Sales comparison approach to value - correct answer An approach to value based on the theory
that knowledgeable purchaser would pay no more than the cost of acquiring a substitute
property.
Cost-depreciation approach - correct answer An approach to value based on the theory that a
knowledgeable purchaser would pay no more than the cost of acquiring an equally desirable
site, combined with building an acceptable substitute structure.
Negative - correct answer Do External diseconomies have a negative or positive impact on
value?
External economies - correct answer What result from positive external factors that enhance
property value?
The Principle of Anticipation - correct answer What principle is based on the premise that the
expectation of future benefits creates value?
USPAP - correct answer What are the accepted standards for real estate appraising called?
Certified Residential Appriaser - correct answer What type of appraiser can issue reports only
for one to four residential units?
