Gold Coast School Real Estate
Questions Ch.1-19
"The department" refers to which government entity? - ANS-The department of business and
professional regulation (DBPR)
\1. The real estate market is local in nature. What does that mean? - ANS-Information about
real estate can best be found through local sources, which makes the real estate market
local in nature
\2. You would expect a real estate licensee to perform all of the following activities, EXCEPT:
A. Providing expert knowledge about construction methods and materials
B. Providing expert knowledge to members of the public in the performance of specified
services of real estate
C. Following up with customers and clients after a transaction has been completed
D. Acting as an intermediary, or agent, between two or more people in the negotiation of the
sale, purchase, or lease of real estate - ANS-A. Providing expert knowledge about
construction methods and materials
\3. A real estate licensee is expected to have expert knowledge in what three areas?
A. Valuation, marketing, and property transfer
B. Mortgages, property taxes, and homeowners' insurance policies
C. Residential real estate, commercial real estate, and surveys
D. Area schools, local crime rates, and proximity to potential employers - ANS-A. Valuation,
marketing, and property transfer
\4. What is a comparative market analysis?
A. A comparison of assessed values in the same neighborhood
B. A value estimate based on recent sales of identical properties in the same neighborhood
C. A value estimate based in recent sales of similar properties in the same neighborhood
D. An appraisal of the value of a property - ANS-C. A value estimate based in recent sales of
similar properties in the same neighborhood
\5. Which type of valuation must be performed in accordance with the Uniform Standards of
Professional Appraisal Practice (USPAP)
A. Appraisal in a federally-related transaction
B. Broker price opinion (BPO)
C. Comparative market analysis (CMA)
D. None of the above - ANS-A. Appraisal in a federally-related transaction
\6. Many real estate licensees engage in "farming". Which of the following best describes
what that means?
A. They conduct open houses on weekends
B. They use marketing vehicles such as direct mailing and advertisements in real estate
magazines
C. They concentrate on the sale of agricultural properties
D. They concentrate on one type of property or in a particular neighborhood - ANS-D. They
concentrate on one type of property or in a particular neighborhood
\A broker who lists a home for sale has which type of agency relationship with the owner of
the home?
, A. Universal agent
B.Subagent
C. General agent
D. Special agent - ANS-D. Special agent
\A Civil court imposes what type of fine as a result of a measurable loss?
A. Punitive damages
B. Statutory damages
C. Compensatory damages
D. Civil damages - ANS-C. Compensatory damages
\A civil court imposes what type of penalty to punish a party whose action causes a lawsuit?
A. Punitive damages
B.Civil damages
C. Criminal damages
D. Personal damages - ANS-A. Punitive damages
\A licensee provided rental list information for a fee to a prospective tenant. If the information
provided was materially inaccurate about available Rental property, what recourse does the
prospective tenant have?
A. The prospective tenant can sue the licensee for damages in civil court
B. The prospective tenant has no recourse if the licensee can demonstrate that he or she did
not intentionally mislead the tenant
C. The prospective tenant can demand a refund of 75% of the fee within 30 days of the date
of the contract with the licensee
D. The prospective tenant can demand a full refund of the fee within 30 days of the date of
the contact with the licensee - ANS-D. The prospective tenant can demand a full refund of
the fee within 30 days of the date of the contact with the licensee
\A Sales associate who is employed by a broker has which type of agency relationship with
the broker?
A. Subagent
B. General agent
C. Special agent
D. Universal agent - ANS-B. General agent
\According to F.A.C. 61J2-26.002, which of the following persons would qualify for Florida
residency?
A. A person who lives in NYC and has stayed in The Breakers in Palm Beach, Florida for
three continuous months in the past winter and in various other hotels in Palm Beach for a
total of two months at other times in the past year
B. A person who owns homes in Ocala and Melbourne Beach, Florida and has lived in his
primary residency in Georgia for 9 oof the past 12 months
C. A person from Texas who is living in an apartment in Pensacola, Florida on a 3 month
temporary work assignment
D. A person who spends summers in Michigan and lives in a motor home in an RV park in
Vero Beach, Florida from November 1 through March 31 each year - ANS-D. A person who
spends summers in Michigan and lives in a motor home in an RV park in Vero Beach,
Florida from November 1 through March 31 each year
\According to F.S. 475, all of the following transactions are considered residential
transactions, EXCEPT:
A. A lease on a unit in a duplex, with an option to purchase the unit
B. The sale of a 10-unit apartment building
Questions Ch.1-19
"The department" refers to which government entity? - ANS-The department of business and
professional regulation (DBPR)
\1. The real estate market is local in nature. What does that mean? - ANS-Information about
real estate can best be found through local sources, which makes the real estate market
local in nature
\2. You would expect a real estate licensee to perform all of the following activities, EXCEPT:
A. Providing expert knowledge about construction methods and materials
B. Providing expert knowledge to members of the public in the performance of specified
services of real estate
C. Following up with customers and clients after a transaction has been completed
D. Acting as an intermediary, or agent, between two or more people in the negotiation of the
sale, purchase, or lease of real estate - ANS-A. Providing expert knowledge about
construction methods and materials
\3. A real estate licensee is expected to have expert knowledge in what three areas?
A. Valuation, marketing, and property transfer
B. Mortgages, property taxes, and homeowners' insurance policies
C. Residential real estate, commercial real estate, and surveys
D. Area schools, local crime rates, and proximity to potential employers - ANS-A. Valuation,
marketing, and property transfer
\4. What is a comparative market analysis?
A. A comparison of assessed values in the same neighborhood
B. A value estimate based on recent sales of identical properties in the same neighborhood
C. A value estimate based in recent sales of similar properties in the same neighborhood
D. An appraisal of the value of a property - ANS-C. A value estimate based in recent sales of
similar properties in the same neighborhood
\5. Which type of valuation must be performed in accordance with the Uniform Standards of
Professional Appraisal Practice (USPAP)
A. Appraisal in a federally-related transaction
B. Broker price opinion (BPO)
C. Comparative market analysis (CMA)
D. None of the above - ANS-A. Appraisal in a federally-related transaction
\6. Many real estate licensees engage in "farming". Which of the following best describes
what that means?
A. They conduct open houses on weekends
B. They use marketing vehicles such as direct mailing and advertisements in real estate
magazines
C. They concentrate on the sale of agricultural properties
D. They concentrate on one type of property or in a particular neighborhood - ANS-D. They
concentrate on one type of property or in a particular neighborhood
\A broker who lists a home for sale has which type of agency relationship with the owner of
the home?
, A. Universal agent
B.Subagent
C. General agent
D. Special agent - ANS-D. Special agent
\A Civil court imposes what type of fine as a result of a measurable loss?
A. Punitive damages
B. Statutory damages
C. Compensatory damages
D. Civil damages - ANS-C. Compensatory damages
\A civil court imposes what type of penalty to punish a party whose action causes a lawsuit?
A. Punitive damages
B.Civil damages
C. Criminal damages
D. Personal damages - ANS-A. Punitive damages
\A licensee provided rental list information for a fee to a prospective tenant. If the information
provided was materially inaccurate about available Rental property, what recourse does the
prospective tenant have?
A. The prospective tenant can sue the licensee for damages in civil court
B. The prospective tenant has no recourse if the licensee can demonstrate that he or she did
not intentionally mislead the tenant
C. The prospective tenant can demand a refund of 75% of the fee within 30 days of the date
of the contract with the licensee
D. The prospective tenant can demand a full refund of the fee within 30 days of the date of
the contact with the licensee - ANS-D. The prospective tenant can demand a full refund of
the fee within 30 days of the date of the contact with the licensee
\A Sales associate who is employed by a broker has which type of agency relationship with
the broker?
A. Subagent
B. General agent
C. Special agent
D. Universal agent - ANS-B. General agent
\According to F.A.C. 61J2-26.002, which of the following persons would qualify for Florida
residency?
A. A person who lives in NYC and has stayed in The Breakers in Palm Beach, Florida for
three continuous months in the past winter and in various other hotels in Palm Beach for a
total of two months at other times in the past year
B. A person who owns homes in Ocala and Melbourne Beach, Florida and has lived in his
primary residency in Georgia for 9 oof the past 12 months
C. A person from Texas who is living in an apartment in Pensacola, Florida on a 3 month
temporary work assignment
D. A person who spends summers in Michigan and lives in a motor home in an RV park in
Vero Beach, Florida from November 1 through March 31 each year - ANS-D. A person who
spends summers in Michigan and lives in a motor home in an RV park in Vero Beach,
Florida from November 1 through March 31 each year
\According to F.S. 475, all of the following transactions are considered residential
transactions, EXCEPT:
A. A lease on a unit in a duplex, with an option to purchase the unit
B. The sale of a 10-unit apartment building
