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Florida Real Estate Exam Magnolia School all terms 2024 Actual Questions with Verified Answers, 100% Guarantee Pass $13.49   Add to cart

Exam (elaborations)

Florida Real Estate Exam Magnolia School all terms 2024 Actual Questions with Verified Answers, 100% Guarantee Pass

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  • Course
  • Florida Real Estate
  • Institution
  • Florida Real Estate

Florida Real Estate Exam Magnolia School all terms 2024 Actual Questions with Verified Answers, 100% Guarantee Pass

Preview 4 out of 72  pages

  • August 22, 2024
  • 72
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Florida Real Estate
  • Florida Real Estate
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BESTGOODIES
FL Real Estate Exam - Magnolia School all terms.pdf file:///C:/Users/HP/Desktop/NIW/FL%20Real%20Estate%20Exam%




FL Real Estate Exam - Magnolia School all terms


1. What is leverage?

Ans Use of borrowed funds to purchase assets or to finance aninvestment



2. How is the binder deposit notated on the closing disclosure?

Ans Credit buyer –BDCB



3. What is the status of a sales associates license but they do not complete the required

post licensing education prior to their first renewal cycle

Ans Null andvoid



4. How many sections are in a Township?

Ans 36 (square miles)



5. Which mortgage clause allows the mortgagee the right to demand the outstanding loan

balance plus secured interest in the event that the borrowersells or transfers any interest





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in the property without the lenders prior writtenconsent

Ans Due on sale clause



6. What requirement is not apply regarding dwellings built prior to 1978

Ans Buy-ers must have the property inspected for lead-based paint



7. Two close friends on a daycare center as joint tenants with the right of Sur-vivorship.

One owner passed away, who owns the daycare center?

Ans Survivingowner becomes soul owner of the daycare center by operation of law



8. The subject property is a three-bedroom, two-bath home. A comparable property is a

three-bedroom, two and one-half-bath home. An appraiser hasdetermined that the extra

half bath is worth about $2,200. What adjustment should the appraiser make?

Ans Subtract $2200 from the comparable



9. Which of the following is incorrect concerning FHA and VA mortgages?

Ans VAis the government insured loan and could be accompanied by an origination fee







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10. FHA (Federal Housing Administration) mortgage

Ans Government insured loanOrigination fee



11. VA (Veterans Affairs) mortgage

Ans Government guaranteed loanFunding fee

Origination fee



12. What lien takes priority first and second?

Ans Property Tax, Special Assessment



13. Intangible tax is noted on the closing disclosure as

Ans Debit to the buyer



14. What is a blind ad?

Ans Doesn't list the realty company or brokerage



15. Which of the following is a penalty for first time minor violation that is not

accompanied by a fine?





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Ans Notice of noncompliance



16. Nonlicensed assistants may perform which activity?

Ans Handout objectivewritten information on a rental property



17. Two brothers have decided to purchase investment property in or not surehow they

want to take title. The brothers wives have looked into the options and have decided that

in the event that one of the brothers die, his wife would









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