FLORIDA Real Estate Pre-license Exam Review Questions and Answers New (2024/2025) Solved 100% Correct
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Course
FLORIDA Real Estate
Institution
FLORIDA Real Estate
What types of agents can one be in a agency relationship? - ️️Universal
General (Sales-Associate)
Special Agent
What is a brokers price opinion (BPO)? Can a real estate licensees charge for these? -
️️It is the opinion of value of real property, and yes as long as it is not considered
...
FLORIDA Real Estate Pre-license Exam
Review
What types of agents can one be in a agency relationship? - ✔️✔️Universal
General (Sales-Associate)
Special Agent
What is a brokers price opinion (BPO)? Can a real estate licensees charge for these? -
✔️✔️It is the opinion of value of real property, and yes as long as it is not considered
an appraisal.
If a student fails course pre-licensure exam, how long must one wait until one can re-
take the exam? How many times can one re-test before having to retake the entire
course? - ✔️✔️Applicant must wait 30 days, and is allowed to re-test one time before
having to retake the course.
What are the 5 major sales specialties? (Types of properties/lots) - ✔️✔️Residential.
(Remember 4-10 Rule: any vacant land zoned for 4 or fewer residential units OR
agricultural property of 10 or fewer acres.){A condo is considered a single family home}
Commercial.
Industrial.
Agricultural.
Business. (Considered "business brokers." ***Presumption in Florida that businesses
include real property***)
Real Estate Business - ✔️✔️Is composed of many specialization's:
- (1)Details of Property Transfer
-Knowledge of:
(2)market conditions
(3)how to market real estate business
(4)how to analyze buyers needs
(5)laws that pertain to real estate
Real Estate Brokerage - ✔️✔️Is the bringing together of buyers and sellers, owners
and renters and completing real estate transactions.
***How can a agent maintain good standing with clients? (After title closing)*** -
✔️✔️***Follow Up. This will result in a good reputation and FUTURE REFERRALS and
word-of-mouth advertising.***
, What is a Farm Area? - ✔️✔️When brokers/sales associate become an expert in one
portion of the city.
What is the difference between a rental agent and a property manager? - ✔️✔️Rental
Agent: find a tenant & collect fee.
Property Manager: continue to manage property after tenant is secured.
What is an absentee owner? - ✔️✔️is a property owner who does not reside on
property/often relies on professional property manager to manage investment.
Can a real estate broker / sales associate appraise a property for compensation? -
✔️✔️Yes, but CANNOT say they are state certified, registered trainee, or licensed
appraisers.
When conducting appraisals, must follow what set of guidelines? - ✔️✔️Uniform
Standards of Professional Appraisal Practice (USPAP) (Best Practices)
***Who does the commission for a BPO, or for any service of real estate, go to?
a)broker associate
b)sales associate
c)broker - ✔️✔️***C. Compensation can not be paid directly to associates.
Who may use the term REALTOR? - ✔️✔️REALTOR and real estate licensee are not
synonymous. REALTORS are members of a local board of realtors (privately run
organization).
Who created the MLS (Multiple Listing Service) database? - ✔️✔️National Association
of Realtors.
Applicants should be familiar with these laws an rules and their respective subsections:
- ✔️✔️(F.S. = Florida Statute)
F.S. 20
F.S. Chapter 475
-Part 1. pertains to real estate brokerage
-Part 2. pertains to real estate appraisers
-Part 3. Commercial Real Estate SALES Commission Lien Act (Lien is only on owners
net proceeds)
-Part 4. Commercial Real Estate LEASING Commission Lien Act. (Gives broker lien
rights)
F.S. 455
Chapter 61J2
***When going through application process what should applicant NOT exclude? -
✔️✔️***Cautioned to complete carefully, and to fully disclose any background criminal
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