Fl real estate exam | 400+ Questions and 100% Correct Answers
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Course
Real Estate
Institution
Real Estate
How many hours required to complete continuing education - 14 hrs.
Experience requirement for a sales associate applying for a FL broker license -
Must have worked as a licensed sales associate for an active real estate broker
for 24 months of proceeding 5 years
Realtor - National Assoc. Is vol...
Fl real estate exam | 400+ Questions and 100%
Correct Answers
Where to submit completed application - ✔✔DBPR, Div. of Real Estate
What happens if real estate licensee fails to timely complete post license education
requirement - ✔✔Null and void
How many hours required to complete continuing education - ✔✔14 hrs.
Experience requirement for a sales associate applying for a FL broker license -
✔✔Must have worked as a licensed sales associate for an active real estate broker
for 24 months of proceeding 5 years
Realtor - ✔✔National Assoc. Is voluntary only membership entitles the use of the
term Realtor
Florida Real Estate Commission members are: - ✔✔Appointed by Governor
Customer - ✔✔Person who chooses limited representation under transaction broker
relationship
Transaction Broker - ✔✔Represents neither buyer nor seller as a fiduciary in same
transaction
In a single agent relationship - ✔✔Sales agents become subagents of brokers in single
agency situation & owe all fiduciary duties to principal
,Broker - ✔✔In a no-brokerage situation can work for either buyer or seller with no
agency representation and can be paid by either party
Advance listing fees - ✔✔May be used for advertising the property after advising the
seller
Board of Directors - ✔✔Primary requirement for a person to run a sole
proprietorship real estate brokerage
Practicing Real Estate for compensation without a license - ✔✔May result in a fine up
to $5,000
Contract to buy a lot covered by Interstate Land Sales Full Disclosure Act may be
revoked - ✔✔7 days after signing
How long must a landlord allow a tenant to pay unpaid rent after notifying the tenant
before she may begin eviction proceedings? - ✔✔3 days
Fee simple absolute - ✔✔Type of ownership that provides the most complete bundle
of rights
Best description of interests of the holder of a life estate - ✔✔Possession and use
Joint tenancy - ✔✔Multiple owners take title to property at the same time
Police power - ✔✔The authority to adopt zoning ordinances
,Title Insurance - ✔✔Extra protection for title problems on property conveyed by
warranty deed is provided by
What number of the section is always located in the northeast corner of a township? -
✔✔1
A township in the rectangular survey system always contains - ✔✔36 square miles
Range lines and township lines intersect to create - ✔✔Townships
Range lines are vertical - ✔✔Township lines are horizontal , they cross to create
townships
Acknowledgement - ✔✔Is not a requirement of a valid real estate sales contract
Offer to purchase - ✔✔Even if accompanied by a good faith or EMD is revocable until
accepted and meeting of minds is achieved
Statue of Frauds - ✔✔Requires most real estate contracts to be in writing
Security Instrument in a loan - ✔✔Hypothecates(pledging of property as security for
loan) the property
Package mortgage - ✔✔When personal property is included in the real estate
, Blanket mortgage - ✔✔Covers more than one piece of property
Wrap around mortgage - ✔✔Allows payments to be made to seller who, in turn
continues to make payments on an existing loan
Proration - ✔✔Process of dividing up charges, payments, credits and debits between
a buyer and seller at closing
Prepaid rents are always prorated - ✔✔Buyer receives credit and seller receives debit
Title Insurance - ✔✔The seller is required by law to provide
Cost Approach
(Useful for special-purpose with few comparables and no rental income) -
✔✔Appraiser would use this to to value a Church
Sales Comparison Approach, value of the feature present in a comparable that is not
present in subject - ✔✔Subtract from the selling price of the comparable ( b/c
comparable is better take away (subtract the value of feature)
Jalousie Windows - ✔✔Smaller overlapping panes of glass
120 and 240 - ✔✔Voltage requirements in newer homes
Cash Flow - ✔✔Money that comes from an investment in an annual basis after all
expenses are paid
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