100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Post-Licensing Practice Exam for Florida Real Estate Sales Associates Exam Questions and Answers $12.49   Add to cart
Quickly navigate to
Preview
  2.  
  3. Real Estate
  4.  
  5. Real Estate

Exam (elaborations)

Post-Licensing Practice Exam for Florida Real Estate Sales Associates Exam Questions and Answers
 6 views  0 purchase
  • Course
  • Real Estate
  • Institution
  • Real Estate

Post-Licensing Practice Exam for Florida Real Estate Sales Associates Exam Questions and Answers FHA requirements for housing expense ratios (HER) and total obligations ratio (TOR) are - ANSWER- 28% (HER) and 36% (TOR). Yesterday, a broker obtained a 90-day listing contract that has a self-ren...

[Show more]

Preview 2 out of 15  pages

Document information

  • November 4, 2024
  • 15
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • post licensing practice exam for florida real esta

Written for

  • Real Estate
  • Real Estate

Seller

avatar-seller
KaylinHoffman

Content preview

Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024




Post-Licensing Practice Exam for Florida

Real Estate Sales Associates Exam

Questions and Answers


FHA requirements for housing expense ratios (HER) and total obligations ratio (TOR) are - ANSWER✔✔-

28% (HER) and 36% (TOR).


Yesterday, a broker obtained a 90-day listing contract that has a self-renewing provision extending the

agreement an additional 60 days after expiration unless either party cancels in writing. The listing

contract is - ANSWER✔✔-void.


Unlicensed personal assistants - ANSWER✔✔-who are directed by the sales associate in how to do their

jobs cannot be classified as independent contractors, and must pay withholding taxes.


If a buyer raises an objection to a property, the associate should first - ANSWER✔✔-confirm and isolate

the objection.


A bilateral agreement spelling out the complete terms between a buyer and a seller for the transfer of a

parcel of real property is - ANSWER✔✔-a sales contract.


What is NOT a good reason to make a preclosing walk-through inspection? - ANSWER✔✔-To determine

that no encroachments exist


Susan lists her home with broker William for $90,000 on March 16. On August 1, Henry makes an offer of

$85,000, accompanied by a binder deposit of $5,000, and asks the seller to pay points on a new loan of


Copyright ©Stuvia International BV 2010-2024 Page 1/15

, Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024


$80,000. Susan counters at a price of $87,500 and agrees to pay four points on a loan of $82,500. Henry

accepts.


Henry qualifies for the loan at an interest rate of 9% and agrees to pay a 1% origination fee. The monthly

payment for principal and interest is $663.81. Henry also will be charged for prepaid interest for the

balance of the month of closing. The closing date is September 15, and Henry is charged for the day of

closing.


Henry will purchase an insurance policy for $720. City and county taxes are $760. Susan agreed to pay

her own attorney's fees of $125. Henry must pay $130 for attorney's fees, $56 to record the mortgage,

$6 to record the deed, and $640 for title insurance.


The payoff on Susan's existing m - ANSWER✔✔-Debit Susan $612.50.


An agreement to hold open for a set time period an offer to sell or lease real property is - ANSWER✔✔-

an option contract.


Susan lists her home with broker William for $90,000 on March 16. On August 1, Henry makes an offer of

$85,000, accompanied by a binder deposit of $5,000, and asks the seller to pay points on a new loan of

$80,000. Susan counters at a price of $87,500 and agrees to pay four points on a loan of $82,500. Henry

accepts.


Henry qualifies for the loan at an interest rate of 9% and agrees to pay a 1% origination fee. The monthly

payment for principal and interest is $663.81. Henry also will be charged for prepaid interest for the

balance of the month of closing. The closing date is September 15, and Henry is charged for the day of

closing.




Copyright ©Stuvia International BV 2010-2024 Page 2/15

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 KaylinHoffman. 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)

78252 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling

Recently viewed by you

Exam (elaborations) ·

(0)

FINA 365 Final Exam Review;TOP SCORE
$12.49
  • (0)
  Add to cart