Real Estate Final Exam (150 Questions) #1 /
Complete Accurate Quizzes with Verified Answers /
2025-2026
Terms in this set (157)
4. Broker Carr, with ABC Real There is not a relationship between the parties. Broker Carr
Estate Company, listed the represents the Seller and Broker Smith represents the
property with a seller. Broker Buyer.
Smith, with XYZ Real Estate
Company, called Broker Carr,
and disclosed that he was a
Buyer Agent. Broker Smith
wrote a contract with a
buyer for the sale of the
property. What, if any, is the
relationship between the
buyer's broker, the seller and
the listing broker?
,6. The seller and the buyer $1,130.14 debit the seller and credit the buyer
finally agreed to a purchase
price of
$203,500 with the closing to
occur on June 15. The taxes
for the year in the amount of
$2,500 have not been paid by
the seller. (Taxes are paid in
arrears). How much would
the tax proration amount to,
and how would it appear on
a full settlement statement?
Base your answer on a 365
day year, and the buyer is
responsible for the day of
settlement.
regression.
The Adams family purchased
the largest and most
expensive house in a new
subdivision. Five years later,
when they were ready to
move, they discovered the
monetary value of the home
had gone up proportionately
less than the other houses in
the neighborhood. This
phenomenon is an example
of the principle of
,After a long dispute with a The Real Estate Recovery Fund is expressly limited to only
bankrupt and corrupt Florida actual, not punitive damages. Therefore only
broker, the Gonzalez family
$12,500 would be available for recovery in this case.
was awarded a judgment for
$12,500 in actual damages
and $87,500 in punitive
damages, for a total of
$100,000. They were then
surprised find that the Real
Estate Recovery Fund would
not cover all $100,000.
Which of the following is
TRUE?
Paige is violating the law because she is agreeing to pay
compensation to an individual who is not licensed.
After failing his Florida
licensing exam Doug decided
to change his career path
and began working as an
administrator for the FHA.
With FHA approval, Doug
gave lists of foreclosed
properties to broker Paige,
under the provision that
Paige would pay him a
percentage of commissions
earned by her company on
properties from that list.
Which of the following is
TRUE?
, Alejandro is a salesperson at Yes, Alejandro and Daytona Diligent Realty are in violation of
Rococo Real Estate Brokerage Florida's real estate license law.*****
in Pensacola. While visiting
(Alejandro may only be compensated by his broker, Rococo
his daughter in Daytona,
Real Estate, so any offer of commission or fee made directly
Alejandro sees a property
by Daytona Diligent Realty must be refused. Both parties
offered by Daytona Diligent
are in violation of Florida's real estate license law.)
Realty which he proceeds to
sell to a client back in
Pensacola. Alejandro receives
5% commission from Daytona
Diligent Realty. Is there
anything wrong with this
situation, and if so, what is
the key legal condition?
Apartment houses in an area substitution.
were selling for $100,000 and
a buyer offered $100,000 for
an apartment building. The
buyer is operating on the
principle of
The appraisal approach most cost.
likely to be used in valuing a
public library building would
be
An appraiser is usually paid a fee based on the amount of time and effort.
Are recording fees and No, These are considered legal, not financing fees and
therefore are not part of the Truth in Lending statement.
title insurance premiums
part of the Truth in
Lending statement?
Complete Accurate Quizzes with Verified Answers /
2025-2026
Terms in this set (157)
4. Broker Carr, with ABC Real There is not a relationship between the parties. Broker Carr
Estate Company, listed the represents the Seller and Broker Smith represents the
property with a seller. Broker Buyer.
Smith, with XYZ Real Estate
Company, called Broker Carr,
and disclosed that he was a
Buyer Agent. Broker Smith
wrote a contract with a
buyer for the sale of the
property. What, if any, is the
relationship between the
buyer's broker, the seller and
the listing broker?
,6. The seller and the buyer $1,130.14 debit the seller and credit the buyer
finally agreed to a purchase
price of
$203,500 with the closing to
occur on June 15. The taxes
for the year in the amount of
$2,500 have not been paid by
the seller. (Taxes are paid in
arrears). How much would
the tax proration amount to,
and how would it appear on
a full settlement statement?
Base your answer on a 365
day year, and the buyer is
responsible for the day of
settlement.
regression.
The Adams family purchased
the largest and most
expensive house in a new
subdivision. Five years later,
when they were ready to
move, they discovered the
monetary value of the home
had gone up proportionately
less than the other houses in
the neighborhood. This
phenomenon is an example
of the principle of
,After a long dispute with a The Real Estate Recovery Fund is expressly limited to only
bankrupt and corrupt Florida actual, not punitive damages. Therefore only
broker, the Gonzalez family
$12,500 would be available for recovery in this case.
was awarded a judgment for
$12,500 in actual damages
and $87,500 in punitive
damages, for a total of
$100,000. They were then
surprised find that the Real
Estate Recovery Fund would
not cover all $100,000.
Which of the following is
TRUE?
Paige is violating the law because she is agreeing to pay
compensation to an individual who is not licensed.
After failing his Florida
licensing exam Doug decided
to change his career path
and began working as an
administrator for the FHA.
With FHA approval, Doug
gave lists of foreclosed
properties to broker Paige,
under the provision that
Paige would pay him a
percentage of commissions
earned by her company on
properties from that list.
Which of the following is
TRUE?
, Alejandro is a salesperson at Yes, Alejandro and Daytona Diligent Realty are in violation of
Rococo Real Estate Brokerage Florida's real estate license law.*****
in Pensacola. While visiting
(Alejandro may only be compensated by his broker, Rococo
his daughter in Daytona,
Real Estate, so any offer of commission or fee made directly
Alejandro sees a property
by Daytona Diligent Realty must be refused. Both parties
offered by Daytona Diligent
are in violation of Florida's real estate license law.)
Realty which he proceeds to
sell to a client back in
Pensacola. Alejandro receives
5% commission from Daytona
Diligent Realty. Is there
anything wrong with this
situation, and if so, what is
the key legal condition?
Apartment houses in an area substitution.
were selling for $100,000 and
a buyer offered $100,000 for
an apartment building. The
buyer is operating on the
principle of
The appraisal approach most cost.
likely to be used in valuing a
public library building would
be
An appraiser is usually paid a fee based on the amount of time and effort.
Are recording fees and No, These are considered legal, not financing fees and
therefore are not part of the Truth in Lending statement.
title insurance premiums
part of the Truth in
Lending statement?
