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FLORIDA REAL ESTATE SALES ASSOCIATE DRILL AND PRACTICE QBANK V6.0 2
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FLORIDA REAL ESTATE SALES ASSOCIATE DRILL AND PRACTICE QBANK V6.0 2
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FLORIDA REAL ESTATE SALES ASSOCIATE DRILLAND PRACTICE QBANK V6.0 2
A broker of a large office hired a certified public accountant (CPA) and a full-time
bookkeeper to manage the escrow account. Which statement is TRUE regarding this
situation? - Answers -The broker must be a signatory on the escrow account.
A joint venture usually is created to? - Answers -carry out a single project.
A railroad company may use which method to acquire land? - Answers -Eminent
domain
The MOST relevant approach to appraising an apartment complex would focus on? -
Answers -present value of future income.
The property owner of a listed property has instructed the broker not to show the
property when the owner is out of town. A potential buyer asks the sales associate to
show the listed property; however, the owner is out of town. How should the sales
associate handle the situation? - Answers -Explain to the buyer that the sales associate
cannot show the property until the owner returns.
When purchasing a commercial property from a seller without the services of a real
estate professional, a buyer would be well advised to carefully verify information
conveyed regarding the property. This is sometimes referred to as - Answers -caveat
emptor.
When mortgage interest paid in arrears on a loan assumption is prorated, the amount
up to the day of closing is - Answers -debited to the seller, credited to the buyer.
Which statement is TRUE regarding listing agreements? - Answers -If required to effect
a sale, the commission is earned only if the buyer closes on the property.
The type of time-share ownership that the usage rights revert back to the developer-
seller is - Answers -right to use.
Developers of new cooperative units must give buyers a disclosure which informs
buyers that they may cancel within how many days of signing the contract? - Answers -
15 calendar days
In an assignment of a real estate contract, the person assigned the legal rights is the -
Answers -assignee
A man owned two farms and a home when he died intestate. The court appointed a
personal representative to dispose of any portions of the decedent's estate that might
be subject to estate taxes and debts of the deceased. The personal representative -
, Answers -may advertise, negotiate, and sell the property and be compensated for his
work without registering with the DBPR.
A licensed real estate sales associate did NOT complete the post license education
requirement eight months ago. Which statement applies to this situation? - Answers -
The Commission has no legislative authority to extend the post-license requirement
beyond six months.
Which statement is TRUE with respect to the assignment of a lease? - Answers -The
entire leasehold is transferred.
Plottage can BEST be described as the - Answers -increase in value that results from
combining contiguous lots so that the value of the combined properties is greater than
the sum of the individual lot values.
A sales associate has been told by her real estate broker to commit an unlawful act.
The sales associate should - Answers -refuse and withdraw from the relationship.
When a real estate sale contract has been signed by the purchaser and given to the
seller's broker along with an earnest money check, - Answers -the buyer has given a
written offer.
If the Fed decides to sell securities through open-market bulk trading, the result will be -
Answers -a decrease of money in circulation.
Which statement is FALSE concerning townships? - Answers -There are 640 acres in a
township.
There are 640 acres in a section. There are 23,040 acres in a township (640 acres × 36
sections).
The going concern value of a business - Answers -is the worth of an established
business property.
A nonresident who holds a Florida real estate license MUST - Answers -complete all
required post-licensing and continuing education requirements.
Which statement is TRUE with respect to closing statement entries? - Answers -The
earnest money deposit is entered as a credit to the buyer.
Follow-up refers to which activity? - Answers -Keeping in touch with the new
homeowner who purchased the home through the sales associate
May escrow funds be moved from a non-interest-bearing account to an interest-bearing
account? - Answers -Yes, provided the broker secures the written permission of all
interested parties to the contract before moving the funds.
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