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BOB HOGUE REAL ESTATE CLASS TEST QUESTIONS WITH 100% CORRECT ANSWERS!!
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BOB HOGUE REAL ESTATE CLASS TEST QUESTIONS WITH 100% CORRECT ANSWERS!!
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Name: Score:512 Multiple choice questions
Term 1 of 512
Lien Theory
A provision in a deed guaranteeing that the seller will for all time defend the title and
possession for the buyer.
The principle that states that the value of an inferior property is enhanced by its association
with superior properties of the same type.
Legal concept that regards a mortgage as a just claim on specific property pledged as
security for a mortgage debt.
Anything of value or a valuable consideration, directly or indirectly paid, promised, or
expected to be paid or received.
Definition 2 of 512
A friendly foreclosure (nonjudicial procedure) in which the mortgagor gives title to the
mortgagee.
Deed in lieu of foreclosure
Potential Gross Income (PGI)
Limited Partnership (LP)
Primary Mortgage Market
,Definition 3 of 512
A respondent who does not dispute allegations of material fact in the administrative complaint
may request an informal hearing before the FREC for final action on the complaint.
Mediation
Informal hearing
Stipulation
General agent
Term 4 of 512
Cease to be in force
A licensee cannot perform real estate services because the associate is not authorized to
perform real estate services that require a license, because the associate is not properly
registered
A licensee-respondent may choose to avoid a disciplinary hearing and relinquish the real
estate license in lieu of discipline, permanently revoking the license.
Any means by which to contact the brokerage firm or individual licensee including mailing
address(es), physical street address(es), e-mail address(es), telephone number(s), or
facsimile telephone number(s).
Imaginary lines running running north and south and crossing a base line at a definite point;
used by surveyors for reference in locating and describing land under the government
survey system.
Definition 5 of 512
Occurs when a brokerage firm represents as a fiduciary both the buyer and the seller in the same
real estate transaction. It is illegal in FL for a real estate licensee to operate as a dual agent.
Special Agent
Transaction Broker
Fraud
Dual Agency
,Term 6 of 512
The powers and duties of the FREC fall into what three general categories?
An exception to zoning regulations or ordinances granted to relieve a hardship.,
1. Real estate brokerage
2. Real estate appraisers
3. Commercial Real Estate Lien Act
4. Commercial Real Estate Leasing Commission Lien Act
1. Executive
2. Quasi-legislative
3. Quasi-judicial
A document that summarizes the effect proposed development will have on the
surroundings.
Term 7 of 512
Proprietary Lease
A source for the purchase of a mortgage loan by a borrower.
A written agreement between the owner-corporation and the tenant-stockholder in a
cooperative apartment.
A current, valid license registered with the dbpr. the status required to actively engage in
the real estate business.
An agreement for the tenant to pay a fixed (base) rent with the landlord paying all the
expenses associated with the property.
, Definition 8 of 512
A right granted a sales associate or broker associate to work various properties owned by
affiliated entities under one owner developer.
Multiple licenses
Active license
Group license
Joint tenancy
Term 9 of 512
Florida Statue 120
Formal declaration before an authorized official, by the person who executed the
instrument, that it is a free act.
An agreement as to the penalty reached between attorneys for the DRE and the licensee or
licensee's attorney.
A written agreement between holders of liens on a property that changes the priority of
mortgage, judgment, and other liens under certain circumstances.
The Administrative Procedural Act defines the procedural process by which regulatory
agencies decide and implement agency action.
Definition 10 of 512
The owner's original cost plus buying expenses plus capital improvements.
Effective Age
Chain of Title
Discount Points
adjusted basis
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