Exam (elaborations)
Florida Real Estate Exam 2024/2025
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Florida Real Estate Exam 2024/2025
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Florida Real Estate Exam 2024/2025Which statement is true regarding the use of the term REALTOR?
A. All real estate licensees are realtors
B. All realtors are members of the NAR
C. The term real estate licensee and realtor may be used interchangeably
D. The Florida DBPR authorizes the use of the term realtor - Precise
Answer ✔✔b.
The term "follow-up" refers to
a. returning calls in a timely manner.
b. completing instructions given by one's broker.
c. following through on listing calls made to for sale by owners.
d. what a sales associate does for buyers and sellers after the sale. -
Precise Answer ✔✔d.
Even though certain exceptions apply, an active real estate licensee is
legally entitled to appraise real property for compensation concerning a
non-federally related transaction
a. as long as she does not represent herself as a state-certified or licensed
appraiser and complies with the USPAP
,b. only if the appraisal is called a comparative market analysis
c. provided the compensation is based on a commission agreed on before
the appraisal work is done
d. provided a license or certified appraiser signs the appraisal report. -
Precise Answer ✔✔a.
The field of property management has experienced growth and
specialization primarily because of
a. the deregulation of the real estate industry
b. the increase in the number of licensees specializing in property
management
c. the increase in the number of absentee owners
d. higher construction costs that have caused an increase in the number
of renters. - Precise Answer ✔✔c.
Real estate licensees must comply with the USPAP when conducting
which value estimates?
a. appraisals
b. broker price opinions
c. comparative market analysis
d. real estate licensees are exempt from the provisions of USPAP -
Precise Answer ✔✔a
, Appraisers are paid a fee because
a. to accept compensation based on the appraised value is a conflict of
interest
b. custom dictates the method of compensation
c. the fee would be too high if it were based on a percentage of property
value
d. only brokers and sales associates are paid commissions for their
services - Precise Answer ✔✔a
The five major sales specialties do NOT include
a. agricultural
b. special use
c. commercial
d. business - Precise Answer ✔✔b. special use
The real estate activity that is devoted to leasing, managing, marketing,
and overall maintenance of property for others is called
a. commercial sales
b. property management
c. counseling
d. rental agents - Precise Answer ✔✔b. property management
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