Exam (elaborations)
Azure Tide Real Estate Exam 1/50 Questions and Answers
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- Azure Tide Real Estate
Azure Tide Real Estate Exam 1/50 Questions and Answers
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Azure Tide Real Estate Exam1/50 Questions and Answers
Which group is responsible for the preparation of the comprehensive plan or
plan amendment? - -The Planning Commission
-Advertising that discriminates against people based on ________ is
prohibited by the Fair Housing Act and its amendments. - -Religion
-Which of the following protects mortgage applicants from discrimination
based on receiving public assistance? - -Equal Credit Opportunity Act
-Fannie Mae purchases all of the following loans EXCEPT: - -Freddie Mac
-* Hilda and Hyatt paid $7,875 last year in mortgage interest, $4,200 in
principal payments, $1,850 in property tax, $840 in mortgage insurance,
$1,200 in property insurance, and $1,500 in maintenance. Which expenses
are deductible from their federal taxes? - -Mortgage interest of $7,875 and
property taxes of $1,850
-What instrument includes the specific terms of the loan such as rate, length
of term, payment, etc.? - -Promissory Note
-Practicing real estate without a license is a: - -Third-degree felony
-A township contains: - -36 sections
-Heather has been using a roadway at the back of the 22 acres Pam owns in
order to access a fishing pond. She has been driving down the roadway
almost every day without permission for over 20 years. This is called an: - -
Easement by prescription.
-When figuring effective gross income which expenses are deducted? - -
Collection and Vacancy losses
-On Monday, Agent Sally collected an earnest money check. Agent Sally
turned it over to Broker Mary on that same day. What is the last day that
Broker Mary can deposit the earnest check to the escrow account? - -
Thursday
-A buyers loan payment called "PITI" will change if:
1) The property taxes increase
2) The property taxes decrease
, 3) Their home owners insurance fluctuates
Submitted answer
4) All of the above - -All of the above
-Candy died intestate. After an extensive search, no heirs were found.
Candy's real property would transfer by: - -Escheat
-Which of the following properties requires a lead based paint disclosure? - -
A single-family home for sale built Prior to 1978
-* You have a listing with a 6% commission. Your sellers have accepted an
offer from a buyer that has their own agent. You have agreed to give the
buyers agent 3.5% of the commission. Your agreement with your broker is
that you get paid 92% of the commission you earn. The sales price was
$387,500.00. How much will you get paid? - -$8,912.50
$387,500 X .02.5 (6%-3.5%) = $9,687.50 x .92 = $8,912.50
-All of the following are acceptable to register with the DBPR as a real estate
brokerage EXCEPT:
1) Non-profit corporation
2) Corporation sole
3) Limited liability corporation
4) For profit corporation - -Corporation sole
-An individual and/or their spouse that is an active duty member of the
armed forces and has a real estate license in another state can get a
_________ real estate license if stationed in Florida - -regular license
-*Jackson is buying a home for $412,000. His interest rate on the loan will be
4.75% for 15 years. He will have a down payment of $16,480. What is the
LTV on the loan? - -96%
Loan Amount Price (or value) = LTV ratio Take $412,000 - $16480 =
$395,520; $395, = 96% LTV
-A sales associate has a licensed assistant which is paid both on an hourly
basis and a commission basis. How should the assistant be paid? - -The
sales associates' broker must pay the assistant the commission while the
sales associate may pay the hourly wage if it is for tasks that do not require
a license
-Brokers must retain brokerage relationship disclosure documents for 5
years except when: - -Working with a buyer or seller as a transaction broker
from the outset
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