Bob Hogue Real Estate Class Test Questions and Answers Already Passed
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Course
Bob Hogue Real Estate Class
Institution
Bob Hogue Real Estate Class
Bob Hogue Real Estate Class Test
Questions and Answers Already Passed
What is the penalty for practicing real estate without a license in Florida?
It is considered a third-degree felony.
What must happen for a contract to be considered legally enforceable in real estate?
The contract mus...
Bob Hogue Real Estate Class Test
Questions and Answers Already Passed
What is the penalty for practicing real estate without a license in Florida?
✔✔ It is considered a third-degree felony.
What must happen for a contract to be considered legally enforceable in real estate?
✔✔ The contract must have an offer, acceptance, consideration, and be in writing if required by
the Statute of Frauds.
How many days does a buyer have to cancel a new residential condominium contract after
signing?
✔✔ 15 days.
What is required to activate an inactive real estate license in Florida?
✔✔ Submission of a proper request and completing continuing education requirements.
What is the purpose of a property appraisal?
✔✔ To estimate the market value of a property.
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,How many members serve on the Florida Real Estate Commission (FREC)?
✔✔ Seven members.
When is a real estate agent considered to have earned their commission?
✔✔ When they have secured a ready, willing, and able buyer for the property.
What is the legal age to apply for a real estate license in Florida?
✔✔ 18 years old.
What does it mean if a property is held in "joint tenancy"?
✔✔ It means multiple owners share equal ownership, with the right of survivorship.
What is a net listing in real estate?
✔✔ A listing where the seller specifies a minimum price they want, and the broker keeps any
excess as commission.
What must happen if a dispute arises over escrow funds?
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,✔✔ The broker must notify the Florida Real Estate Commission (FREC) and follow its
procedures.
How many hours of post-licensing education must a sales associate complete before their first
license renewal?
✔✔ 45 hours.
What is an example of "puffing" in real estate?
✔✔ Exaggerated or subjective statements about a property, such as claiming it has "the best view
in town."
What is the homestead exemption in Florida?
✔✔ A tax exemption that reduces the assessed value of a primary residence, offering property
tax savings.
What does the term "blockbusting" refer to in real estate?
✔✔ The illegal practice of encouraging homeowners to sell their properties by suggesting that
demographic changes in the neighborhood could negatively affect property values.
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, What is required for a deed to be valid in Florida?
✔✔ The deed must be signed by the grantor and witnessed by two people.
What is the meaning of "title insurance"?
✔✔ It protects the buyer and lender from potential issues with the property's title.
What is the purpose of a Comparative Market Analysis (CMA)?
✔✔ To help estimate a property’s value by comparing it to recently sold properties in the area.
What is a "lead-based paint disclosure" and when is it required?
✔✔ A document required for properties built before 1978 to inform buyers of potential lead
paint hazards.
What is the role of a transaction broker in Florida?
✔✔ A transaction broker provides limited representation to both buyer and seller without a
fiduciary relationship.
How can a real estate license be voluntarily relinquished?
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