Azure Tide Real Estate Exam 1 Questions with Correct Answers Latest Update 2025/2026
Which group is responsible for the preparation of the comprehensive plan or plan amendment? -
Answers The Planning Commission
Advertising that discriminates against people based on ________ is prohibited by the Fair
Housing Act and its amendments. - Answers Religion
Which of the following protects mortgage applicants from discrimination based on receiving
public assistance? - Answers Equal Credit Opportunity Act
Fannie Mae purchases all of the following loans EXCEPT: - Answers Freddie Mac
* Hilda and Hyatt paid $7,875 last year in mortgage interest, $4,200 in principal payments,
$1,850 in property tax, $840 in mortgage insurance, $1,200 in property insurance, and $1,500 in
maintenance. Which expenses are deductible from their federal taxes? - Answers Mortgage
interest of $7,875 and property taxes of $1,850
What instrument includes the specific terms of the loan such as rate, length of term, payment,
etc.? - Answers Promissory Note
Practicing real estate without a license is a: - Answers Third-degree felony
A township contains: - Answers 36 sections
Heather has been using a roadway at the back of the 22 acres Pam owns in order to access a
fishing pond. She has been driving down the roadway almost every day without permission for
over 20 years. This is called an: - Answers Easement by prescription.
When figuring effective gross income which expenses are deducted? - Answers Collection and
Vacancy losses
On Monday, Agent Sally collected an earnest money check. Agent Sally turned it over to Broker
Mary on that same day. What is the last day that Broker Mary can deposit the earnest check to
the escrow account? - Answers Thursday
A buyers loan payment called "PITI" will change if:
1) The property taxes increase
2) The property taxes decrease
3) Their home owners insurance fluctuates
Submitted answer
4) All of the above - Answers All of the above
, Candy died intestate. After an extensive search, no heirs were found. Candy's real property
would transfer by: - Answers Escheat
Which of the following properties requires a lead based paint disclosure? - Answers A single-
family home for sale built Prior to 1978
* You have a listing with a 6% commission. Your sellers have accepted an offer from a buyer
that has their own agent. You have agreed to give the buyers agent 3.5% of the commission.
Your agreement with your broker is that you get paid 92% of the commission you earn. The
sales price was $387,500.00. How much will you get paid? - Answers $8,912.50
$387,500 X .02.5 (6%-3.5%) = $9,687.50 x .92 = $8,912.50
All of the following are acceptable to register with the DBPR as a real estate brokerage EXCEPT:
1) Non-profit corporation
2) Corporation sole
3) Limited liability corporation
4) For profit corporation - Answers Corporation sole
An individual and/or their spouse that is an active duty member of the armed forces and has a
real estate license in another state can get a _________ real estate license if stationed in Florida -
Answers regular license
*Jackson is buying a home for $412,000. His interest rate on the loan will be 4.75% for 15 years.
He will have a down payment of $16,480. What is the LTV on the loan? - Answers 96%
Loan Amount Price (or value) = LTV ratio Take $412,000 - $16480 = $395,520; $395,520 /
412000 = 96% LTV
A sales associate has a licensed assistant which is paid both on an hourly basis and a
commission basis. How should the assistant be paid? - Answers The sales associates' broker
must pay the assistant the commission while the sales associate may pay the hourly wage if it
is for tasks that do not require a license
Brokers must retain brokerage relationship disclosure documents for 5 years except when: -
Answers Working with a buyer or seller as a transaction broker from the outset
Sales associate Troy wants to create a business entity with the State of Florida to conduct real
Which group is responsible for the preparation of the comprehensive plan or plan amendment? -
Answers The Planning Commission
Advertising that discriminates against people based on ________ is prohibited by the Fair
Housing Act and its amendments. - Answers Religion
Which of the following protects mortgage applicants from discrimination based on receiving
public assistance? - Answers Equal Credit Opportunity Act
Fannie Mae purchases all of the following loans EXCEPT: - Answers Freddie Mac
* Hilda and Hyatt paid $7,875 last year in mortgage interest, $4,200 in principal payments,
$1,850 in property tax, $840 in mortgage insurance, $1,200 in property insurance, and $1,500 in
maintenance. Which expenses are deductible from their federal taxes? - Answers Mortgage
interest of $7,875 and property taxes of $1,850
What instrument includes the specific terms of the loan such as rate, length of term, payment,
etc.? - Answers Promissory Note
Practicing real estate without a license is a: - Answers Third-degree felony
A township contains: - Answers 36 sections
Heather has been using a roadway at the back of the 22 acres Pam owns in order to access a
fishing pond. She has been driving down the roadway almost every day without permission for
over 20 years. This is called an: - Answers Easement by prescription.
When figuring effective gross income which expenses are deducted? - Answers Collection and
Vacancy losses
On Monday, Agent Sally collected an earnest money check. Agent Sally turned it over to Broker
Mary on that same day. What is the last day that Broker Mary can deposit the earnest check to
the escrow account? - Answers Thursday
A buyers loan payment called "PITI" will change if:
1) The property taxes increase
2) The property taxes decrease
3) Their home owners insurance fluctuates
Submitted answer
4) All of the above - Answers All of the above
, Candy died intestate. After an extensive search, no heirs were found. Candy's real property
would transfer by: - Answers Escheat
Which of the following properties requires a lead based paint disclosure? - Answers A single-
family home for sale built Prior to 1978
* You have a listing with a 6% commission. Your sellers have accepted an offer from a buyer
that has their own agent. You have agreed to give the buyers agent 3.5% of the commission.
Your agreement with your broker is that you get paid 92% of the commission you earn. The
sales price was $387,500.00. How much will you get paid? - Answers $8,912.50
$387,500 X .02.5 (6%-3.5%) = $9,687.50 x .92 = $8,912.50
All of the following are acceptable to register with the DBPR as a real estate brokerage EXCEPT:
1) Non-profit corporation
2) Corporation sole
3) Limited liability corporation
4) For profit corporation - Answers Corporation sole
An individual and/or their spouse that is an active duty member of the armed forces and has a
real estate license in another state can get a _________ real estate license if stationed in Florida -
Answers regular license
*Jackson is buying a home for $412,000. His interest rate on the loan will be 4.75% for 15 years.
He will have a down payment of $16,480. What is the LTV on the loan? - Answers 96%
Loan Amount Price (or value) = LTV ratio Take $412,000 - $16480 = $395,520; $395,520 /
412000 = 96% LTV
A sales associate has a licensed assistant which is paid both on an hourly basis and a
commission basis. How should the assistant be paid? - Answers The sales associates' broker
must pay the assistant the commission while the sales associate may pay the hourly wage if it
is for tasks that do not require a license
Brokers must retain brokerage relationship disclosure documents for 5 years except when: -
Answers Working with a buyer or seller as a transaction broker from the outset
Sales associate Troy wants to create a business entity with the State of Florida to conduct real
