Exam (elaborations)
AZURE REAL ESTATE PRACTICE EXAM
- Course
- Institution
AZURE REAL ESTATE PRACTICE EXAM
[Show more]
Content preview
AZURE REAL ESTATE PRACTICE EXAMWhich of the following statements is false regarding The Real Estate Settlement
Procedures Act (RESPA)? - Answers-Kickbacks are said to harm consumers by driving
down the cost of transactions.
True: Title companies cannot give a kickback as a referral fee to a real estate licensee.,
Mortgage brokers can only pay other mortgage brokers a referral fee., Real Estate
licensees can only pay other real estate licensees a referral fee.
How is practicing real estate without a license punishable as? - Answers-Third-degree
felony
Lauren made an offer on a home. The seller countered her offer. Which statement is
true? - Answers-Lauren's original offer was terminated by the seller's counteroffer.
Which situation is not considered good faith doubt? - Answers-The broker transferred
earnest money being held for a buyer and seller to the tile company to be accounted for
as funds for closing.
The FREC defines a Florida resident as someone that has resided in the state for a
continuous period of how many months? - Answers-4 months
When the Department investigated a complaint against Mick, a licensee, the
investigator believed that the charges were too serious to allow the licensee to practice
real estate during the investigation and hearings. Which statement is true? - Answers-
The DBPR Secretary could initiate a summary suspension against Mick to suspend his
license until the matter was resolved.
What is the percentage passing score on the real estate course exam? - Answers-70
A building erected permanently on a property is considered what? - Answers-Real
property
When the judge ruled that the seller must sell his house, this is an example of what? -
Answers-Specific performance
Jan put an ad on Craigslist to advertise a house for sale. Because Jan thought more
people would respond if they thought the house was selling by owner, she left off her
broker's information and the fact that Jan was a real estate licensee. What is Jan guilty
of? - Answers-Blind Advertising
Faye just signed a new lease. It is for six months. What kind of tenancy does she have?
- Answers-Tenancy for years
, Broker Hope took an earnest money deposit from Buyer Burt. She placed the deposit in
her brokerage operating account. Which statement accurately describes what Hope
did? - Answers-Hope commingled trust funds by placing the money with company funds
which is illegal.
Which statement is false regarding culpable negligence? - Answers-You can never be
charged with Culpable Negligence if you did not know of a damaging issue.
True: Whoever exposes another person to personal injury could be charged with
culpable negligence., Culpable negligence is a misdemeanor of the second degree., It is
unethical for a real estate agent to engage in culpable negligence.
Yvette claimed Giselle's property through adverse possession. To have done so
successfully, Yvette would have to have done all the following except what? - Answers-
Do so for a continuous period of 10 years
True: Take actual possession of the property, Possession was open and notorious all
the neighbors could see Yvette living there., Paid taxes for the entire period.`
Residential rental property can be depreciated over how many years using the straight-
line depreciation method? - Answers-27.5 years
Stefanie had a rental property. There were 14 units. After she subtracted for collection
and vacancy losses, she totaled $23,500 income for the month. What did she calculate?
- Answers-Effective Gross Income
Taylor was several months behind in her mortgage. She got a notice from the bank
telling her that she now owed the full unpaid balance of the mortgage. What clause in a
mortgage was activated by her late payments? - Answers-Acceleration
In a metes-and-bounds description, what is the opposite direction of South 25 degrees
East? - Answers-North 25 degrees West
Which of the following statements is false based on the Statute of Frauds? - Answers-
Option contracts can be verbal if for less than one year.
True: Purchase and sale real estate contracts must be in writing., Deeds and mortgages
must be in writing., Lease agreements for more than one year must be in writing.
When representing a seller and a buyer in the same transaction as a transaction broker
and without written permission you tell the buyer the sellers motivation to sell, this a
violation of which agency duty? - Answers-Limited confidentiality
The bundle of rights that a property owner has includes which of the following? -
Answers-Control
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller GEEKA. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77764 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now