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Azure Tide Real Estate School General Questions And Answers (A+)
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- Azure Tide Real Estate School
Azure Tide Real Estate School General Questions And Answers (A+)
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Azure Tide Real Estate School General QuestionsAnd Answers (A+)
Quiz :COLD + AC
- C = Care, skill and diligence
- O = Obedience,
- L = Loyalty,
- D = Disclosure,
- A = Accounting,
- C = Confidentiality
OR
OLD CAR
- O = Obedience,
- L = Loyalty,
- D = Disclosure,
- C = Confidentiality
- A = Accounting,
-R = Reasonable care, skill and diligence
WHICHEVER ONE YOU CAN REMEMBER EASIER! - √Answer :Six duties
of the broker as a fiduciary are :
Quiz :township - √Answer :a square 6 miles on each side
Quiz :A Transition to Transaction Agent Notice is required to be signed. -
√Answer :When changing from a single agent to a transaction broker when is
required?
Quiz :What is curable deterioration? - √Answer :Refers to a form of
deterioration that's economically feasible to repair. In other words, the increase
in value exceeds the cost of repair. Painting is a good example of something that
generally adds more value than it cost?
Quiz :recorded plat method - √Answer :A lot and block survey is also called a
Quiz :General Warranty Deed - √Answer :The most commonly used deed with
the most comprehensive protections
,Quiz :Fee Simple - √Answer :highest and greatest type of ownership interest
(Title) that can be held in real property.
Quiz :12 HOURS - √Answer :Florida landlord must give tenant how many
hours to enter property unless of emergency.
Quiz :Real Property - √Answer :Real Estate PLUS the Bundle of rights
associated with ownership of land and all permanent attachments to land
Quiz :Real estate - √Answer :Land, including the sky above, what is below the
ground, the trees and any man-made attachments.
Quiz :Mortgage - √Answer :What pledges the property for collateral
Quiz :Hypothecation - √Answer :An arrangement, wherein a person, borrows
money from the bank by collateralizing an asset, without transferring title and
possession, is called hypothecation. It is a charge formed on any movable asset
by the owner, to raise funds from the bank, without transferring the ownership
and possession to the lender. In this agreement, the borrower (owner) of goods
borrows money against the security of assets, i.e. inventories. If the
hypothecator fails in paying the dues within the stipulated time, the
hypothecatee can file a suit, to realise the debt by selling the hypothecated asset.
Simply put, they do not hold a lien on the property itself
Quiz :Lien Theory State - √Answer :Lender holds a lien against the property but
the owner holds the title
Quiz :Title Theory State - √Answer :a state where the mortgage lender has title
to the property until the debt is repaid
Quiz :Lien Theory - √Answer :Is Florida a Lien Theory state or a Title Theory
state?
Quiz :Broker and sales associate - √Answer :May a broker and sales associate
have a "group license" in order to sell for all the entities owned by the
owner/developer or just a broker?
Quiz :Interest on an assumable mortgage is paid in arrears, so the buyer gets a
credit at closing and it is a debit to the seller
Steering - √Answer :Is interest on an assumable mortgage paid in arrears or in
advance and who gets a credit for it at closing?
,What is the process whereby builders, brokers, and rental property managers
induce purchasers or lessees of real property to buy land or rent premises in
neighborhoods composed of persons of the same race.
Quiz :Redlining - √Answer :financial institutions refusing to lend money in
certain neighborhoods
Quiz :Statutory Method - √Answer :Which method of calculating uses 30 days
for a month and 360 days for a year.
Quiz :$100-$500 - √Answer :The penalty involved with a citation are fines
between what amount?
Quiz :To protect residential property. - √Answer :What is the purpose of city
planning?
Quiz :Yes - √Answer :Do Florida Statutes allow for a sales associate to
incorporate as a PA (Professional Corporation), a LLC (Limited Liability
Company) or a PL (Professional Limited Liability Company) for the purpose of
having commission paid to the appropriate corporation.
Quiz :No, the complaint MUST BE IN WRITING! - √Answer :Will the Florida
DBPR investigate a complaint against a licensee if the complaint is either verbal
or written?
Quiz :Yes, as long as it is in WRITING! - √Answer :Will the Florida DBPR
investigate an anonymous complaint against a licensee?
Quiz :Property Tax - √Answer :Property can also be identified through an
assessors parcel number, referred to as PID, which is used to aid in the
collection of what type of tax.
Quiz :Yes - √Answer :Can a sales associate or broker associate have a "group
license" in order to sell for all the entities owned by the owner/developer?
Quiz :$100 - $500 - √Answer :Are penalties involved with a citation fines
between $100 to $500 or $100 to $5,000?
Quiz :from the pre license courses I, sales associate, and II broker, the 45-hour
sales associate post license and the 60 hour broker post license course. -
√Answer :Individuals applying for the sales associate or broker license who also
have a 4 year college degree in real estate are exempt from what?
, Quiz :The state exam and continuing education courses - √Answer :Individuals
applying for the sales associate or broker license who also have a 4 year college
degree in real estate are NOT exempt from what?
Quiz :1. the appraisal follows USPAP standards,
2. are not being performed for a federally related
transaction,
3. and the licensee is not referring to him or herself as a
certified appraiser - √Answer :According to Florida Statutes 475, real estate
licensees may perform appraisal for a commission as long as which 3 criteria
are met?
Quiz :Appointed - √Answer :Are local government members of the planning
commission elected or appointed?.
Quiz :To protect residential property. - √Answer :What is the goal of City
Planning?
Quiz :Yes - √Answer :Does Florida Statutes allow for a sales associate to
incorporate as a PA (Professional Corporation), a LLC (Limited Liability
Company) or a PL (Professional Limited Liability Company) for the purpose of
having commission paid to the appropriate corporation?
Quiz :1. Contractual capacity of the parties
2. Offer and Acceptance
3.Legality of Object
4. Consideration - √Answer :What are the 4 essentials of a contract?
Quiz :No - √Answer :By law, do minors have the legal capacity to enter in an
enforeable contract?
Quiz :Only the minor if the other party is not a minor and has legal capacity -
√Answer :If a minor does enter into a contract with a party who does have legal
capacity, which party can cancel the contract?
Quiz :The promise to perform and fulfill the contract. - √Answer :What is the
definition of "consideration" in a contract?
Quiz :In terms of money - √Answer :How is "valuable consideration" measured.
Quiz :True - √Answer :The promise to perform and fulfill the contract requires
either valuable consideration which can be measured in terms of money, or
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