Bob Hogue Florida Real Estate Final Exam
QUESTIONS & ANSWERS SOLVED
In @,Florida, @,real @,property @,is @,assessed @,on @,January @,1 @,of @,each @,year, @,and @,property @,taxes
@,become @,a @,lien @,on @,the @,property @,on @,- @,(correct @,answer) @,-January @,1, @,the @,same @,year.
Failure @,to @,comply @,with @,the @,statute @,of @,frauds @,will @,result @,in @,- @,(correct @,answer) @,-an
@,unenforceable @,contract.
A @,woman @,has @,homesteaded @,her @,residence. @,Her @,home @,has @,an @,assessed @,value @,of @,
$279,000. @,She @,is @,a @,nonveteran @,who @,is @,totally @,and @,permanently @,disabled @,as @,a @,result
@,of @,a @,serious @,car @,accident. @,She @,is @,also @,legally @,blind. @,What @,is @,her @,cumulative
@,county @,tax @,exemption @,on @,her @,homesteaded @,residence? @,- @,(correct @,answer) @,-$51,000
A @,developer @,who @,wants @,to @,develop @,a @,new @,subdivision @,must @,submit @,- @,(correct
@,answer) @,-a @,subdivision @,plat @,map @,to @,the @,planning @,commission.
Individuals @,who @,solicit @,mortgage @,loans, @,accept @,applications @,for @,mortgage @,loans, @,and
@,negotiate @,the @,terms @,of @,new @,mortgage @,loans @,on @,behalf @,of @,a @,borrower @,are @,called
@,mortgage @,- @,(correct @,answer) @,-loan @,originators.
The @,following @,taxes @,were @,paid @,at @,the @,closing @,of @,a @,new @,home: @,$1,540 @,state
@,documentary @,stamp @,tax @,on @,the @,deed, @,$693 @,state @,documentary @,stamp @,tax @,on @,the
@,note, @,and @,$396 @,state @,intangible @,tax @,on @,the @,mortgage. @,What @,was @,the @,purchase
@,price @,of @,the @,home? @,- @,(correct @,answer) @,-$220,000
Which @,statement @,is @,FALSE @,regarding @,advertising? @,- @,(correct @,answer) @,-The @,brokerage
@,firm's @,address @,is @,required @,in @,all @,advertising.
A @,broker's @,license @,was @,involuntary @,inactive @,for @,two @,years @,and @,one @,month. @,To
@,operate @,again @,as @,an @,active @,licensee, @,the @,broker @,must @,complete @,- @,(correct @,answer)
@,-FREC @,Course @,I @,and @,pass @,the @,sales @,associate's @,licensing @,exam.
,A @,comparable @,property @,has @,one @,more @,bedroom @,($8,000) @,and @,is @,on @,a @,slightly @,larger
@,lot @,($2,000) @,than @,the @,subject @,property. @,The @,comparative @,market @,analysis @,requires @,a
@,net @,adjustment @,of @,- @,(correct @,answer) @,-minus @,$10,000 @,to @,the @,comparable @,property.
If @,a @,seller @,refuses @,to @,pay @,a @,broker @,her @,sales @,commission @,after @,the @,residential
@,property @,is @,sold, @,the @,broker @,may @,- @,(correct @,answer) @,-file @,a @,suit @,in @,the @,courts @,for
@,her @,commission.
Which @,variable @,does @,NOT @,influence @,demand? @,- @,(correct @,answer) @,-Availability @,of
@,construction @,loans
A @,property @,closes @,on @,June @,10, @,with @,the @,day @,of @,closing @,charged @,to @,the @,buyer. @,The
@,buyer @,is @,assuming @,the @,seller's @,mortgage @,loan @,with @,its @,principal @,balance @,of @,$227,500
@,at @,4.5% @,interest. @,Which @,entry @,will @,appear @,on @,the @,Closing @,Disclosure? @,- @,(correct
@,answer) @,-Debit @,to @,seller @,and @,credit @,to @,buyer @,in @,the @,amount @,of @,$252.43
The @,formula @,to @,calculate @,the @,overall @,capitalization @,rate @,is @,- @,(correct @,answer) @,-NOI @,÷
@,value @,(or @,price).
The @,owner @,of @,a @,hardware @,store @,has @,filed @,for @,bankruptcy @,and @,the @,real @,estate @,is @,up
@,for @,sale. @,The @,money @,that @,the @,property @,will @,bring @,at @,auction @,is @,BEST @,described @,as
@,which @,type @,of @,value? @,- @,(correct @,answer) @,-Liquidation @,value
The @,duties @,of @,a @,real @,estate @,licensee, @,owed @,to @,a @,buyer @,or @,a @,seller @,who @,engages
@,the @,real @,estate @,licensee @,as @,a @,single @,agent, @,do @,NOT @,include @,- @,(correct @,answer) @,-
limited @,confidentiality, @,unless @,waived @,in @,writing @,by @,a @,party.
Which @,property @,is @,NOT @,covered @,under @,the @,Fair @,Housing @,Act? @,- @,(correct @,answer) @,-
Commercial @,property
Which @,statement @,does @,NOT @,describe @,a @,planned @,unit @,development? @,- @,(correct @,answer)
@,-Industrial @,parks @,are @,a @,welcomed @,offshoot @,of @,the @,PUD @,concept.
Requirements @,of @,a @,valid @,deed @,do @,NOT @,include @,- @,(correct @,answer) @,-signature @,of @,a
@,competent @,grantee.
You @,have @,been @,hired @,to @,appraise @,the @,local @,public @,library @,building. @,The @,approach @,that
@,is @,likely @,to @,be @,the @,MOST @,relevant @,is @,the @,- @,(correct @,answer) @,-cost @,approach.
In @,relation @,to @,section @,1 @,of @,a @,township, @,section @,12 @,is @,due @,- @,(correct @,answer) @,-
south.
The @,bundle @,of @,legal @,rights @,associated @,with @,real @,property @,ownership @,does @,NOT @,include
@,the @,right @,of @,- @,(correct @,answer) @,-intent.
Constructive @,notice @,is @,- @,(correct @,answer) @,-provided @,by @,recording @,in @,the @,public @,records.
, Which @,expense @,is @,subtracted @,to @,derive @,NOI? @,- @,(correct @,answer) @,-Vacancy @,and
@,collection @,losses
Eligible @,homestead @,owners @,may @,transfer @,up @,to @,what @,amount @,of @,their @,Save @,Our
@,Homes @,(SOH) @,benefit @,from @,their @,previous @,homestead @,to @,a @,new @,homestead? @,- @,
(correct @,answer) @,-$500,000
The @,original @,law @,requiring @,that @,the @,annual @,percentage @,rate @,be @,disclosed @,to @,consumers
@,was @,the @,- @,(correct @,answer) @,-Truth @,in @,Lending @,Act.
A @,title-theory @,state @,is @,one @,in @,which @,a @,mortgage @,- @,(correct @,answer) @,-transfers @,title
@,to @,the @,lender @,or @,escrow @,agent @,until @,the @,loan @,is @,paid.
Local @,government @,exercises @,its @,greatest @,effect @,on @,the @,real @,estate @,business @,by @,- @,
(correct @,answer) @,-using @,zoning, @,taxation, @,and @,the @,planning @,process.
A @,single @,agent @,broker @,received @,an @,offer @,on @,a @,listed @,property @,at @,the @,seller's @,price
@,and @,terms. @,Before @,informing @,the @,seller, @,the @,broker @,received @,a @,higher @,offer. @,The
@,broker @,submitted @,only @,the @,first @,offer, @,and @,the @,seller, @,his @,principal, @,accepted @,it. @,The
@,broker @,- @,(correct @,answer) @,-has @,violated @,his @,fiduciary @,duty @,to @,his @,principal.
Which @,estate @,includes @,the @,right @,of @,survivorship? @,- @,(correct @,answer) @,-Joint @,tenancy
A @,mortgage @,in @,which @,changes @,in @,the @,interest @,rate @,may @,cause @,changes @,in @,the
@,monthly @,payment @,amount @,is @,called @,- @,(correct @,answer) @,-an @,adjustable-rate @,mortgage.
Which @,statement @,is @,FALSE @,regarding @,a @,corporation @,for @,profit @,that @,is @,doing @,business
@,as @,a @,real @,estate @,broker? @,- @,(correct @,answer) @,-All @,stockholders @,must @,be @,registered
@,with @,the @,FREC @,as @,inactive @,brokers
Which @,secondary @,market @,participant @,is @,a @,guarantor @,of @,government-insured @,and
@,government-guaranteed @,loans? @,- @,(correct @,answer) @,-Ginnie @,Mae
Sales @,associate @,Terry @,Stoufer @,may @,have @,which @,information @,entered @,on @,his @,license, @,if
@,applicable? @,- @,(correct @,answer) @,-Terry @,Stoufer, @,LLC
When @,the @,parties @,to @,a @,contract @,state @,the @,terms @,of @,the @,contract @,and @,show @,their
@,intentions @,in @,words, @,either @,orally @,or @,in @,writing, @,what @,type @,of @,contract @,classification
@,has @,been @,created? @,- @,(correct @,answer) @,-Express
A @,real @,estate @,company @,represents @,a @,motel @,owner @,who @,wishes @,to @,list @,one @,of @,his
@,motels @,for @,sale. @,The @,owner @,has @,told @,the @,listing @,agent @,that @,he @,does @,not @,want @,to
@,sell @,the @,motel @,to @,any @,racial @,minorities. @,Which @,statement @,is @,TRUE? @,- @,(correct
@,answer) @,-To @,refuse @,to @,sell @,or @,lease @,any @,real @,property @,based @,on @,a @,party's @,race @,is
@,a @,violation @,of @,the @,federal @,Civil @,Rights @,Act @,of @,1866.
