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BOB HOGUE SCHOOL OF REAL ESTATE (FLORIDA) CHAPTER #1 REVIEW EXAM QUESTIONS AND ANSWERS
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BOB HOGUE SCHOOL OF REAL ESTATE (FLORIDA) CHAPTER #1 REVIEW EXAM QUESTIONS AND ANSWERS
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BOB HOGUE SCHOOL OF REAL ESTATE(FLORIDA) CHAPTER #1 REVIEW EXAM
QUESTIONS AND ANSWERS
Real Estate includes 5 different areas of expertise - Answer-1.) Details of property
transfer
2.) Knowledge of market conditions
3.) Knowledge of how to market real estate or businesses
4.) Knowledge of how to analyze buyers needs
5.) Knowledge of laws that pertain to real estate
Post Contract activities - Answer-1.) Credit evaluation
2.) Property Appraisal
3.) Property Survey
Chapter 475, FS
(Residential) - Answer-Defines Residential Real Estate as 4 or fewer residential units,
vacant land zoned for 4 or few residential units or agricultural property of 10 or few
acres.
5 different areas of specialty - Answer-1.) Residential
2.) Commercial
3.) Industrial
4.) Agricultural
5.) Businesses
Agricultural property is defined as... - Answer-(In Chapter 475, FS) to mean agricultural
property of more than 10 acres
Farm Area - Answer-Licensees get to know every lot, house, a nd business in their farm
areas. Farming involves maintaining data on each property, including when it was built,
the sale history, typical marketing time, assessed value, the amount of property taxes
and so forth.
Property Management - Answer-Involves leasing, managing, marketing and
maintenance or property. much more involved than a rental agent.
Rental agent - Answer-Typically find a tenant for property and collect a fee. Property
managers continue to mange the property once a tenant is secured.
USPAP - Answer-Uniform Standards of Professional Appraisal Practice
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