REALTOR License Exam 2026 Questions
and Answers
Absentee Owner: - Correct answer-A property owner who does not reside on the
property and who usually relies on a property manager to oversee the investment
Appraisal: - Correct answer-A supported, defended estimate of the value of
property rights as of a given date
Business Opportunity Brokerage: - Correct answer-The marketing and sale of a
going concern operation; Florida requires that business brokers have a real estate
license to market business opportunities
Comparative Market Analysis: - Correct answer-An informal estimate of market
value performed by a real estate licensee for the seller to assist in arriving at an
appropriate listing price, or if working with the buyer, an informal estimate of
market value to assist the buyer in arriving at an appropriate offering price
Dedication: - Correct answer-A deliberate transfer of land by its owner for public
use and accepted for such use by the public
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
,Farm Area: - Correct answer-A selected and limited geographical district to which
a sales associate devotes special attention and study
Follow-Up: - Correct answer-A post-closing communication initiated by a licensee
to maintain customer contact and goodwill
Property Management: - Correct answer-The process of directing, controlling,
operating, and maintaining real estate for a third party
Real Estate Brokerage: - Correct answer-A commercial activity in which the sale,
purchase, leasing, rental, exchange, or management of real property is conducted
by qualified and licensed individuals acting either for themselves or for others for
compensation
Subdivision Plat Map: - Correct answer-The layout of a subdivision showing lots,
roads, and other infrastructure by the developer to a local government agency
USPAP: - Correct answer-Rules and guidelines that must be followed by any
professional conducting an appraisal
FREC - Correct answer-oversees and regulates the real estate license law and
licensed individuals who participate in the real estate business
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
, "real estate business" - Correct answer-a vocation in which real property forms the
stock in trade that is bought, sold, leased, or rented
A professional real estate licensee should possess specialized knowledge in the
following areas: - Correct answer-1. Property Transfer
2. Market Conditions
3. Sales and Marketing
Property Transfer: - Correct answer-A licensee needs to understand the details of
transferring legal title from one party to another. An interest in real property can be
transferred by deed, will, lease, or other legal methods. Additionally, a licensee
needs to understand the entire process from creation of a real estate contract
through final closing of title.
Market Conditions: - Correct answer-A licensee should understand current interest
rates and the availability of financing, the relationship between real estate supply
and demand in his or her particular market area, and the history of sold properties.
The licensee should also have an understanding of future market trends that will be
the driving force of tomorrow's sales.
Sales and Marketing: - Correct answer-Being a professional and effective real
estate licensee requires understanding the significance of past sales of similar
©COPYRIGHT 2025, ALL RIGHTS RESERVED 3
and Answers
Absentee Owner: - Correct answer-A property owner who does not reside on the
property and who usually relies on a property manager to oversee the investment
Appraisal: - Correct answer-A supported, defended estimate of the value of
property rights as of a given date
Business Opportunity Brokerage: - Correct answer-The marketing and sale of a
going concern operation; Florida requires that business brokers have a real estate
license to market business opportunities
Comparative Market Analysis: - Correct answer-An informal estimate of market
value performed by a real estate licensee for the seller to assist in arriving at an
appropriate listing price, or if working with the buyer, an informal estimate of
market value to assist the buyer in arriving at an appropriate offering price
Dedication: - Correct answer-A deliberate transfer of land by its owner for public
use and accepted for such use by the public
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
,Farm Area: - Correct answer-A selected and limited geographical district to which
a sales associate devotes special attention and study
Follow-Up: - Correct answer-A post-closing communication initiated by a licensee
to maintain customer contact and goodwill
Property Management: - Correct answer-The process of directing, controlling,
operating, and maintaining real estate for a third party
Real Estate Brokerage: - Correct answer-A commercial activity in which the sale,
purchase, leasing, rental, exchange, or management of real property is conducted
by qualified and licensed individuals acting either for themselves or for others for
compensation
Subdivision Plat Map: - Correct answer-The layout of a subdivision showing lots,
roads, and other infrastructure by the developer to a local government agency
USPAP: - Correct answer-Rules and guidelines that must be followed by any
professional conducting an appraisal
FREC - Correct answer-oversees and regulates the real estate license law and
licensed individuals who participate in the real estate business
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
, "real estate business" - Correct answer-a vocation in which real property forms the
stock in trade that is bought, sold, leased, or rented
A professional real estate licensee should possess specialized knowledge in the
following areas: - Correct answer-1. Property Transfer
2. Market Conditions
3. Sales and Marketing
Property Transfer: - Correct answer-A licensee needs to understand the details of
transferring legal title from one party to another. An interest in real property can be
transferred by deed, will, lease, or other legal methods. Additionally, a licensee
needs to understand the entire process from creation of a real estate contract
through final closing of title.
Market Conditions: - Correct answer-A licensee should understand current interest
rates and the availability of financing, the relationship between real estate supply
and demand in his or her particular market area, and the history of sold properties.
The licensee should also have an understanding of future market trends that will be
the driving force of tomorrow's sales.
Sales and Marketing: - Correct answer-Being a professional and effective real
estate licensee requires understanding the significance of past sales of similar
©COPYRIGHT 2025, ALL RIGHTS RESERVED 3
