Florida Real Estate Exam Questions and Answers Already Passed

Florida Real Estate Exam Questions and Answers Already Passed When money is paid out of the Real Estate Recovery Fund, on behalf of a Florida real estate licensee: a. the licensee's license will be automatically suspended b. the maximum amount that can be reimbursed in any single transaction in $50,000 c. the judgment holder cannot be reimbursed for attorney's fees and court costs d. All of the above d. All of the above Which of the following is true regarding the Florida Real Estate Commission: a. 2 members do not have a Florida Real Estate License b. 5 members must have over twenty years' experience as a Florida Real Estate Broker c. 7 members of the FREC are appointed by the Secretary of the Department of Business and Professional Regulations. d. members of the FREC are accountable only to the Director of the Florida Division of Real Estate a. 2 members do not have to have a Florida Real Estate License The Fair Housing Act prohibits discrimination based on: a. race, color, religion, sexual orientation, creed, national origin, gender b. race, color, religion, national origin, sex, familial status, handicap c. color, race, religion, occupation, familial status, age, creed d. sexual orientation, gender, familial status, handicap, race, religion, national origin b. race, color, religion, national origin, familial status, handicap A developer buys a 4-story building and wants to create storage unit bins for rent. Each floor is 200 feet by 250 feet. 20% of each floor must be utilized for hallways and elevators. Each storage bin will be 10 feet by 20 feet. How many storage bins will the developer be able to create? a. 200 b. 250 c. 800 d. 1000 c. 800 The Truth In Lending Act: a. prohibits charging high interest b. gives a consumer the right to rescind a mortgage secured by his homestead c. prohibits racial discrimination d. created a uniform closing statement that is used by most title companies. b. gives a consumer the right to rescind a mortgage secured by his homestead Who can renew their initial Florida real estate license without post license education? a. a person that graduated from the University of Florida with a 4 year degree, or higher, in real estate b. a member of the Florida Bar c. a person that has closed over 50 transactions d. a person that has at least 45 hours of continuing education a. a person that graduated from the University of Florida with a 4 year degree or higher in real estate Which of the following words are synonyms? a. mortgagee - borrower b. lender - mortgagor c. vendor - seller d. grantee - person that signs deed c. vendor-seller If an adult enters into a contract with a child: a. this contract is void b. this contract is illegal c. this contract is valid d. this contract can be enforced in court by the child d. this contract can be enforced in court by the child Price fixing is: a. a common practice in real estate b. a violation of Sherman-Clayton Antitrust laws c. prohibited by Chapter 475 d. why the FREC establishes the amount of commission paid b. a violation of Sherman-Clayton Antitrust laws In a joint tenancy: a. Owners acquire interest at the same time and has Right of Survivorship b. the interests of the tenant can be unequal c. only two people can participate d. the tenants can take title by different documents a. Owners acquire interest at the same time and have Right of Survivorship