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Azure Tide Real Estate Final Exam with complete solutions 2024_2025
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Azure Tide Real Estate Final Exam with complete solutions 2024_2025
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Azure Tide Real Estate Final Exam withcomplete solutions 2024/2025
How is practicing real estate without a license punishable as? - ANSWER- Third
degree felony
Without written permission, Phillip tells his buyer Tom, that his seller Mark is
getting divorced and must sell the property quickly. Phillip is representing both
Mark and Tom as a transaction broker. Phillip has violated which agency duty? -
ANSWER- Limited confidentiality
Maxine didn't understand the paperwork that an oil company had her sign when
they started drilling for oil on her property. The guy that got her to sign the
paperwork was very nice and told her she would never have to move off the
property - but could sell it anytime if she chose. But when they struck oil, she
wasn't entitled to any of the money from the oil. What rights had she signed over
to the oil company? - ANSWER- Mineral
Which of the following most accurately describes the statute of limitations? -
ANSWER- Places a time limit on pursuing a legal remedy in relation to wrongful
conduct
Winnie failed to add to her application for a Florida real estate license the fact that
she had previously been convicted of theft. Which statement is true? - ANSWER-
Failure for Winnie to disclose the theft would be viewed as falsifying an
application.
All the following are acceptable to register with the DBPR as a real estate
brokerage except which of the following? - ANSWER- Corporation sole
, Walden had an architect draw up plans for four different styles of homes. He then
built four models matching the designs and offered to build similar homes to
buyers. What type of construction method is this known as? - ANSWER- tract
homes
Which statement is FALSE regarding a net Listing? - ANSWER- Net listings are
unilateral Contracts
Brokers must retain a brokerage relationship disclosure documents for 5 years
except in which of the following situations? - ANSWER- working with a buyer or
seller as a transaction broker from the outset
Which of the following statements is false based on the Statute of Frauds? -
ANSWER- Option contracts can be verbal if for less than one year
Natasha is representing a seller as a single agent and is also working with the
buyer. What type of relationship is she allowed to have with the buyer? -
ANSWER- no agency relationship
There are two parties to a mortgage. Which is the correct pairing? - ANSWER-
Mortgagor = Borrower
Joshua purchased property in Escambia County. Joshua put $30,000.00 as a
down payment and obtained a new mortgage for $150,230.00. There was no other
consideration for the transfer. How much will the documentary stamp tax on the
deed be? - ANSWER- $1,262.10
Donna is the property manager for an apartment building complex. Sarah used to
live in the complex but moved to a house recently. Sarah referred her sister, Pam,
to Donna for Pam to become a new tenant. Donna paid Sarah $50 for the referral.
Which statement about this situation is true? - ANSWER- This is illegal, per
RESPA because Sarah no longer lives in the apartment building.
What is the intangible tax when getting a new mortgage in the amount of
$550,000.00? - ANSWER- $1,100
Under the Fair Housing Act of 1968, which category of groups are protected from
discrimination? - ANSWER- national origin
The Civil Rights Act of 1866 prevented discrimination based on being a member
of which group? - ANSWER- race
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