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FL Real Estate Exam | Verified Q&A’s| Latest Update
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FL Real Estate Exam | Verified Q&A’s| Latest Update
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FL Real Estate Exam | Verified Q&A’s| LatestUpdate
Broker Bill has a listing contract to sell Janet's condominium. A prospective buyer offers
to pay $60,000, but refuses to give a binder deposit with the contract. Broker Bill
should:
a. refuse to submit the offer until accompanied by valuable consideration.
b. present the offer and suggest that the owner counteroffer for a binder.
c. present the offer only if the buyer promises to pay a binder if accepted.
d. present the offer only if it is close to the asking price. - ✔✔B
A buyer gives a sales associate a binder check made out to him. The sales associate
should:
a. hold the check in the file until the broker returns and turn it over to him.
b. endorse the check and deposit it in the broker's business account.
c. endorse the check and give it to the broker within one business day.
d. put the check in his personal account, then write his personal check to the broker. -
✔✔C
The F.R.E.C. is composed of
a. four brokers and three lay members.
b. five brokers and two lay members.
c. three brokers, two brokers or sales associates, and two lay members.
d. seven members. - ✔✔D
,Licensure may be suspended for what maximum period of time?
a. 1 year
b. 2 years
c. 5 years
d. 10 years - ✔✔D
Broker Larry, Broker Linda, and Broker Susan form a partnership to buy a tract of land
and develop and sell the land. Sales Associate Lee joins the partnership and profits will
be split equally among the four. Profits for the first year amount to $80,000. Which is
correct?
a. Profits may be divided three ways only. Sales associate Lee cannot be a partner.
b. Profits may be divided four ways.
c. Sales associate Lee may be a partner only if he has broker status.
d. a and c - ✔✔B
Which is not correct?
a. A licensee may be paid a commission only by his employer.
b. A licensee may not work for more than one employer.
c. A real estate licensee may not appraise a single family residence unless she has been
licensed as a state licensed or certified appraiser.
d. A licensee has no grace period for renewing a license, and may not operate while the
license is expired. - ✔✔C
,The passage of rules require
a. the vote of all members of the Commission.
b. the full vote of the Commission and the Governor's signature.
c. the decision of the Chairman.
d. a quorum vote of the Commission. - ✔✔D
Jane is a broker and accepts a deposit made out to her firm for $3,000. What is her legal
requirement?
a. She must place it in her personal account.
b. She must place it in her business account no later than the end of the next business
day.
c. She must place it in her trust account within three business days.
d. She must hold it until acceptance of the offer, then deposit it immediately - ✔✔C
Broker Jacqui decides to move her branch office from Fort Walton to Panama City. The
proper procedure is for Jacqui to
a. report the move to the Board of Realtors.
b. request that the Division transfer the license to the new location.
c. cancel the existing branch license and submit the request and a new fee for the
Panama City branch office.
d. wait until it is time to renew the branch office license. - ✔✔C
A real estate sales associate is a person who
, a. at times may perform any of the services ordinarily performed by a broker.
b. may perform some of the services ordinarily performed by a broker.
c. may not perform any service of real estate for the public for compensation in Florida,
unless employed by an owner-employer.
d. may perform any of the services ordinarily Performed by a broker provided that the
service is under the supervision of the employing broker - ✔✔D
A sales associate chooses not to renew his license at the appropriate time. His license
will be
a. involuntary inactive.
b. canceled.
c. voluntary inactive.
d. suspended - ✔✔A
The license period is currently
a. 1 year.
b. 2 years.
c. 3 years.
d. 4 years. - ✔✔B
Which category is exempt from licensing when performing real estate services?
a. funeral directors
b. CPAs acting within the scope of their duties
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