State Exam FLORIDA REAL ESTATE 2024
When money is paid out of the RE recovery fund, on behalf of a Florida Real Estate
the licensee's license will be automatically suspended, the max. amount that can be reimbursed is $50,000, the judgement holder cannot be reimbursed for attorney's fees and cou...
State Exam FLORIDA REAL ESTATE 2024
When money is paid out of the RE recovery fund, on behalf of a Florida Real
Estate
the licensee's license will be automatically suspended, the max. amount that can be
reimbursed is $50,000, the judgement holder cannot be reimbursed for attorney's fees
and court costs
Which of the following is true regarding the Florida RE commission?
Two members do not have to have a Florida Real Estate license
The Fair Housing Act prohibits discrimination based on
Race, color, religion, national origin, sex, familial status, handicap
A piece of property that is 400 feet by 325 feet is
3 acres
The truth in lending act
gives a consumer the right to rescind a mortgage secured by his homestead
Who can renew their initial Florida real estate license without post license
education?
A person that graduated with a university with a 4 year degree in real estate
Which of the following words are synonyms?
vendor-seller
If an adult enters into a contract with a child
this contract can be enforced in a court by the child
Price Fixing is
a violation of Sherman-clayton antitrust law
In a joint tenancy
has the right of survivorship and owners acquire interest at the same time
An expressed contract
is unambiguous
To become the chairman of the Florida Real Estate Commission
a member is elected by his or her peers
A florida Real Estate license
has an expiration date on it, expires biennially, serves as prima facie evidence that the
holder is properly licensed
Florida Real estate licensee cannot promise to re-purchase property back in the
future unless
a guaranteed re-purchae agreement has been approved by the state of florida
A florida real estate salesman must turn escrow money over to his broker
before the end of the business day following the day he received the money
A florida real estate broker can have
an interest bearing escrow account
Which of the following would a buyer certainly not get at closing
certificate of title
When the gov. exercises the power of eminent domain, which of the following
statements is NOT true
Homestead will protect a widow from eminent domain
When a person dies intestate with no heirs
, Their Real Estate passes to the Florida gov. through a process called escheat
Actual notice is
something you have learned by reading, seeing, or hearing
Minnie Me mortgage back securities
carry the full faith and credit guarantee of the US gov.
The combining of two or more adjacent properties into one tract to increase the
usability and value of the resulting consolidation is
Assemblage
One advantage of real estate as an investment is
it is easy to leverage
Positive leverage occurs
when the benefits from borrowing exceed the costs of borrowing
Which of the following is an encumbrance?
lien
If a corporation had a blanket mortgage on a property they were developing they
would need
partial release clause
If the title to a property is marketable
there are no title defects
When can a license be suspended immediately?
When the secretary of the DBPR issues an emergency suspension
Jones Vs. Meyer is a famous lawsuit that
upheld the Civil Rights Act of 1866
Inheritability in Title comes with
Tenants in Common
Real Estate Tax Prorations are typically entered as
credit to the buyer, credit to the seller
A tenancy at will
can be terminated by either party giving notice, can be a month to month rental
agreements and either party can terminate with 15 days notice to the other party, can
be written or oral
Which of the following comes from the Florida Constitution
Homestead rights
Which tax is Ad valorem
Real estate property tax
When a licensee is given a notice of noncompliance
That licensee has 15 days to correct a minor infraction
Money will be paid from the Real Estate Recovery Fund when
A judge rules against an FREC decision in a court of law
A VA loan
has no legislated maximum loan amount
Disintermediation is
when normal people borrow money from sources other than financial institutions
The office of Thrift Supervision
regulates saving association
If a broker takes money for a landlord, she must
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