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GOLD COAST CLASS EXAM QUESTIONS AND 100% CORRECT ANSWERS
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GOLD COAST CLASS EXAM QUESTIONS AND100% CORRECT ANSWERS
1. (CH.9) What type of deed is best to convey for the grantor? - ANSWER Quitclaim deed
2. (CH.16) What value is a failing business? - ANSWER Liquidation value
3. (CH.1+16) What value is a profitable business? - ANSWER Going Concern Value
4. CH.6 What is the remedy for a breach? (All of the following are remedies for a breach
EXCEPT.?) - ANSWER They cannot go to the Real Estate Recovery Fund
5. CH.2+6 If DBPR denies an application, what must they do? - ANSWER The applicant
must be in writing for the reason of the denial so they can request a formal hearing.
6. (Ch.5) What type of relationship is created by one business transaction? ANSWER
Joint Venture
7. (CH.9) A sole agent has a school that needs more ground. How can they get it?
ANSWER Eminent Domain
8. (CH.2+6) Whom can the salesperson sue for commission? ANSWER ONLY broker
9. (CH.9) Eminent domain does not include. (All of the following are examples of Eminent
Domain except.?) - ANSWER A shopping mall
10. (CH.8) People buy home having possession, interest, time, title, and survivorship.
How can they own it? - ANSWER Joint Tenancy
, 11. (CH.8) Owners who can buy the property with same or different deed are referred as
what? - ANSWER Tenancy in Common
12. (CH.16) What does an over-improved property suffer from? - ANSWER Functional
Obsolescence
13. (CH.16) What type of value is for a county courthouse? - ANSWER Cost depreciation
14. (CH.14) Which tax applies to a new mortgage but not an assumed mortgage? -
ANSWER Intangible tax
15. (CH.2) A licensee has a Broker's license but continues to act as an associate. What
are they called? - ANSWER Broker Associates
16.(CH.11) How is it possible for the contractual rights of one person to be transferred
to another? - ANSWER Assignment
17. (CH.9) What should a broker do if he finds out that the title to a property is not
merchantable? - ANSWER He must immediately inform the owner of the condition of the
title
18. (CH.2) Which of the following is NOT an example of broker's office locations?
-ANSWER A motor home
19. (CH.7) What do you call the illegal inducement of homeowners to sell? -ANSWER
Blockbusting
20. (CH.8) What is the term that is the opposite of erosion -ANSWER Accretion
21. (CH.18) What is a special assessment? - ANSWER A tax levy to fund public
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