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FLORIDA LICENSE 45 HOUR POST EXAM 2024 ACTUAL
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EXAM QUESTIONS AND CORRECT DETAILED ANSWERS
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Farming - CORRECT ANSWER-Concentrating on one type of style
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of property or on one particular neighborhood
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A residential transaction os defined in F.S. 475 as the sale of
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any: - CORRECT ANSWER-- Duplex
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- improved residential property of four units or fewer, including
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condominium units
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-unimproved property intended for four units or fewer
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- agricultural properties of ten acres or less
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- leases with options to purchase all or a portion of improved
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property of four or fewer residential units
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- dispositions of business interests for property of four or fewer
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residential units
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What is an Open Listing? - CORRECT ANSWER-When an owner
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agrees to pay a commission to any broker who provides a buyer
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willing to purchase the property under a price and terms
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agreeable to the owner.
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An open listing is a _______ or _______ contract. - CORRECT
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ANSWER-One-sided or unilateral
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In an exclusive agency or exclusive listing - CORRECT ANSWER-
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the owner reserves the right to sell the property himself or
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herself, in which case the owner will owe no commission to the
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listing broker.
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An Exclusive Right of Sale Listing - CORRECT ANSWER-must be
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in writing and signed. The owner can only list with one broker
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and the owner agrees to pay the listing broker regardless of
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who actually finds the buyer.
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Industrial Properties include _______ and ___________
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facilities - CORRECT ANSWER-warehouses and manufacturing
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A _________ __________ is a condominium unit that is sh
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subdivided into ownership time periods. - CORRECT ANSWER-
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timeshare property
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Timeshare ownership includes the right to use the property for
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some period-of-time, sometimes referred to as ___________
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_____________. - CORRECT ANSWER-interval ownership
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absentee owners - CORRECT ANSWER-owners who buy income
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property as investments and depend on professionals to
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manage them
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Lenders may require an ___________ to determine whether
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the value of the property being used as collateral for a loan is
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adequate. - CORRECT ANSWER-appraisal
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Appraisals may also be required in connection with _______
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_________ ________ ___________, ____________
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__________, _________ ________ _____ ____ _______, _____
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_____, _____ _____, ______ _______, and in many other
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circumstances. - CORRECT ANSWERfederal income tax
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claims, federal estate taxes, protesting real estate tax
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assessments, eminent domain, investment planning,
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insurance claims, and in many other circumstances.
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An appraisal that is used in federally transaction must be
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performed by an appraiser who is registered, licensed, certified
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under Part II of FS ____, which is administered by
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the Florida Real Estate Appraisal Board (FREAB). - CORRECT
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ANSWER-FS 475
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A _________ _____ _______ is one in which a loan is made by a
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federally regulated lending institution that uses real property. -
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CORRECT ANSWER-federally related transaction
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All appraisals, whether performed by a licensed appraiser or a
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real estate licensee, must be developed and reported in
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conformity with the - CORRECT ANSWER-Uniform Standards of
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Professional Appraisal Practice (USPAP)
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A real estate ________ is an expert, whom others seek when
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they want answers to real estate questions about such things as
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avoiding mortgage foreclosure, dealing with predatory lending,
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handling rental default, finding suitable
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income opportunities, or getting a reverse mortgage. - CORRECT
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ANSWER-counselor
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Counseling is a - CORRECT ANSWER-highly specialized service
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and requires a greater level of knowledge and experience than
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any other of the real estate profession. Must have a detailed
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knowledge of alternative investments and strategies.
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The largest and most prestigious real estate organization in the
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world is ________. They work for legislation enforce
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FLORIDA LICENSE 45 HOUR POST EXAM 2024 ACTUAL
ne
la
EXAM QUESTIONS AND CORRECT DETAILED ANSWERS
tz
sh
Sp
ne
la
sh
Farming - CORRECT ANSWER-Concentrating on one type of style
Sp
ne
of property or on one particular neighborhood
la
tz
sh
Sp
ne
A residential transaction os defined in F.S. 475 as the sale of
la
any: - CORRECT ANSWER-- Duplex
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Sp
- improved residential property of four units or fewer, including
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condominium units
la
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sh
-unimproved property intended for four units or fewer
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ne
- agricultural properties of ten acres or less
la
sh
- leases with options to purchase all or a portion of improved
Sp
ne
property of four or fewer residential units
la
tz
- dispositions of business interests for property of four or fewer
sh
Sp
residential units
ne
la
sh
Sp
What is an Open Listing? - CORRECT ANSWER-When an owner
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agrees to pay a commission to any broker who provides a buyer
a
tz
willing to purchase the property under a price and terms
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Sp
agreeable to the owner.
ne
la
sh
Sp
la
Sp
, ne
sh
An open listing is a _______ or _______ contract. - CORRECT
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ANSWER-One-sided or unilateral
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In an exclusive agency or exclusive listing - CORRECT ANSWER-
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the owner reserves the right to sell the property himself or
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Sp
herself, in which case the owner will owe no commission to the
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listing broker.
la
tz
sh
An Exclusive Right of Sale Listing - CORRECT ANSWER-must be
Sp
ne
in writing and signed. The owner can only list with one broker
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and the owner agrees to pay the listing broker regardless of
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who actually finds the buyer.
Sp
ne
la
tz
sh
Sp
ne
Industrial Properties include _______ and ___________
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facilities - CORRECT ANSWER-warehouses and manufacturing
sh
Sp
ne
la
tz
A _________ __________ is a condominium unit that is sh
Sp
subdivided into ownership time periods. - CORRECT ANSWER-
ne
timeshare property
la
sh
Sp
ne
Timeshare ownership includes the right to use the property for
a
tz
some period-of-time, sometimes referred to as ___________
l
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Sp
_____________. - CORRECT ANSWER-interval ownership
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sh
Sp
la
Sp
, ne
sh
absentee owners - CORRECT ANSWER-owners who buy income
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la
property as investments and depend on professionals to
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sh
manage them
Sp
ne
la
Lenders may require an ___________ to determine whether
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Sp
the value of the property being used as collateral for a loan is
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adequate. - CORRECT ANSWER-appraisal
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tz
sh
Sp
ne
Appraisals may also be required in connection with _______
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_________ ________ ___________, ____________
sh
Sp
____________
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__________, _________ ________ _____ ____ _______, _____
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tz
_____, _____ _____, ______ _______, and in many other
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circumstances. - CORRECT ANSWERfederal income tax
la
claims, federal estate taxes, protesting real estate tax
sh
Sp
ne
assessments, eminent domain, investment planning,
la
insurance claims, and in many other circumstances.
tz
sh
Sp
ne
la
An appraisal that is used in federally transaction must be
sh
Sp
performed by an appraiser who is registered, licensed, certified
ne
under Part II of FS ____, which is administered by
a
tz
the Florida Real Estate Appraisal Board (FREAB). - CORRECT
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sh
Sp
ANSWER-FS 475
ne
la
sh
Sp
la
Sp
, ne
sh
A _________ _____ _______ is one in which a loan is made by a
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la
federally regulated lending institution that uses real property. -
tz
CORRECT ANSWER-federally related transaction
sh
Sp
ne
la
All appraisals, whether performed by a licensed appraiser or a
sh
Sp
ne
real estate licensee, must be developed and reported in
la
conformity with the - CORRECT ANSWER-Uniform Standards of
tz
sh
Professional Appraisal Practice (USPAP)
Sp
ne
la
A real estate ________ is an expert, whom others seek when
sh
Sp
ne
they want answers to real estate questions about such things as
la
avoiding mortgage foreclosure, dealing with predatory lending,
tz
sh
handling rental default, finding suitable
Sp
ne
income opportunities, or getting a reverse mortgage. - CORRECT
la
ANSWER-counselor
sh
Sp
ne
la
Counseling is a - CORRECT ANSWER-highly specialized service
tz
sh
and requires a greater level of knowledge and experience than
Sp
ne
any other of the real estate profession. Must have a detailed
la
knowledge of alternative investments and strategies.
sh
Sp
ne
a
The largest and most prestigious real estate organization in the
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sh
Sp
world is ________. They work for legislation enforce
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la
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Sp
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Sp
