Gold Coast Final Exam Study Set For 4/11// Newest 2025 Verified A+ Graded
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Module
Gold Coast 2025
Institution
Gold Coast 2025
Gold Coast Final Exam Study Set For 4/11// Newest 2025 Verified A+ Graded
what are the the areas a realtor should be an expert in? - CORRECT ANSWER Marketing If all lien holders have been paid from the proceeds of the foreclosure sale, any surplus funds remaining are paid to? - CORRECT ANSWER ...
Gold Coast Final Exam Study Set For
4/11// Newest 2025 Verified A+ Graded
what are the the areas a realtor should be an expert in? - CORRECT ANSWER
Marketing If all lien holders have been paid from the proceeds of the foreclosure sale,
any surplus funds remaining are paid to? - CORRECT ANSWER Mortgagor (borrower)
FHA - CORRECT ANSWER insures and has a max loan
what are 3 layers of the secondary market? - CORRECT ANSWER -Federal National
Mortgage Association (FNMA or Fannie Mae)
-Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac)
-Government National Mortgage Association (GNMA or Ginnie Mae)
all of these are actions of the primary market except? - CORRECT ANSWER -Federal
National Mortgage Association (FNMA or Fannie Mae)
-Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac)
-Government National Mortgage Association (GNMA or Ginnie Mae)
Real Estate Settlement Procedures Act (RESPA) - CORRECT ANSWER law that
requires lenders to provide a loan estimate of settlement costs
Abstract Continuation - CORRECT ANSWER history of title provided by seller
Doc Stamp on Deed located outside of Miami Dade? - CORRECT ANSWER .70/100
intangible tax - CORRECT ANSWER applies to new mortgage
Liquidation Value - CORRECT ANSWER value of failing business
Market Value - CORRECT ANSWER most probable price
Principle of Substitution - CORRECT ANSWER pay no more for a property than for an
equally desirable alternative property
Principle of highest and best use - CORRECT ANSWER most profitable use, produces
the greatest net return on land
External Obsolescence - CORRECT ANSWER loss of value caused by factors beyond
the boundaries of the subject property
Functional Obsolescence - CORRECT ANSWER adding a swimming pool that cost you
20k even though it only provides 10k in value
, Principles of Value - CORRECT ANSWER rate stays the same, value goes up ->
interest goes up
Static Risk - CORRECT ANSWER can be offset with insurance, such as fire, flood,
robbery, etc
Immune Property - CORRECT ANSWER properties that are owned by local, state, and
federal gov
all apply to homestead except? - CORRECT ANSWER property is immune
Veteran who became 20% disabled in the war - CORRECT ANSWER 30k
Residential Zoning - CORRECT ANSWER based on density
Valuation & Market Conditions
Property Transfer
"MVP"
Does one need to be a resident of the state or a citizen of the U.S. to get a FL real
estate license? - CORRECT ANSWER to get a FL real estate license, you don't need to
be a citizen
What must an applicant for a real estate license do if he has been convicted of a crime?
- CORRECT ANSWER must disclose all convictions
Employment - CORRECT ANSWER an associate can only have one employer at a time
What's the grace period for a Sales associate's first renewal? Post Licensing -
CORRECT ANSWER no grace period, void and null
Individuals who are exempt from licensure - CORRECT ANSWER Salaried Employees
How long can one stay involuntary inactive? - CORRECT ANSWER 2 years
What happens to an associates license if a broker's license is void, suspended, or
revoked? - CORRECT ANSWER their license automatically becomes inactive
Multiple Licenses - CORRECT ANSWER issued only to active brokers if it is clearly
shown that such additional licenses are necessary to the conduct of legitimate business
What is a Transaction broker - CORRECT ANSWER a broker who provides limited
representation to a buyer, seller, or both, in a real estate transaction
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