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FLORIDA Real Estate Pre-license Exam Review Questions and Answers $9.99   Add to cart

Exam (elaborations)

FLORIDA Real Estate Pre-license Exam Review Questions and Answers

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  • Course
  • Florida real estate
  • Institution
  • Florida Real Estate

FLORIDA Real Estate Pre-license Exam Review Questions and Answers Real Estate Business - Answer-Is composed of many specialization's: - (1)Details of Property Transfer -Knowledge of: (2)market conditions (3)how to market real estate business (4)how to analyze buyers needs (5)laws that perta...

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  • October 3, 2024
  • 17
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Florida real estate
  • Florida real estate
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EmillyCharlotte
EMILLYCHARLOTTE 2024/2025 ACADEMIC YAER
©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISH SEPTEMBER 2024

FLORIDA Real Estate Pre-license Exam
Review Questions and Answers

Real Estate Business - Answer✔✔-Is composed of many specialization's:


- (1)Details of Property Transfer

-Knowledge of:

(2)market conditions

(3)how to market real estate business

(4)how to analyze buyers needs

(5)laws that pertain to real estate

Real Estate Brokerage - Answer✔✔-Is the bringing together of buyers and sellers,

owners and renters and completing real estate transactions.

***How can a agent maintain good standing with clients? (After title closing)*** -

Answer✔✔-***Follow Up. This will result in a good reputation and FUTURE

REFERRALS and word-of-mouth advertising.***

What are the 5 major sales specialties? (Types of properties/lots) - Answer✔✔-

Residential. (Remember 4-10 Rule: any vacant land zoned for 4 or fewer residential

units OR agricultural property of 10 or fewer acres.){A condo is considered a single

family home}

Commercial.

Industrial.

1/17

,EMILLYCHARLOTTE 2024/2025 ACADEMIC YAER
©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISH SEPTEMBER 2024
Agricultural.

Business. (Considered "business brokers." ***Presumption in Florida that businesses

include real property***)

What is a Farm Area? - Answer✔✔-When brokers/sales associate become an expert

in one portion of the city.

What is the difference between a rental agent and a property manager? - Answer✔✔-

Rental Agent: find a tenant & collect fee.

Property Manager: continue to manage property after tenant is secured.

What is an absentee owner? - Answer✔✔-is a property owner who does not reside

on property/often relies on professional property manager to manage investment.

Can a real estate broker / sales associate appraise a property for compensation? -

Answer✔✔-Yes, but CANNOT say they are state certified, registered trainee, or

licensed appraisers.

When conducting appraisals, must follow what set of guidelines? - Answer✔✔-

Uniform Standards of Professional Appraisal Practice (USPAP) (Best Practices)

What is a brokers price opinion (BPO)? Can a real estate licensees charge for these? -

Answer✔✔-It is the opinion of value of real property, and yes as long as it is not

considered an appraisal.

***Who does the commission for a BPO, or for any service of real estate, go to?

a)broker associate

b)sales associate


2/17

, EMILLYCHARLOTTE 2024/2025 ACADEMIC YAER
©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISH SEPTEMBER 2024
c)broker - Answer✔✔-***C. Compensation can not be paid directly to associates.

Who may use the term REALTOR? - Answer✔✔-REALTOR and real estate licensee

are not synonymous. REALTORS are members of a local board of realtors (privately

run organization).

Who created the MLS (Multiple Listing Service) database? - Answer✔✔-National

Association of Realtors.

Applicants should be familiar with these laws an rules and their respective subsections:

- Answer✔✔-(F.S. = Florida Statute)

F.S. 20

F.S. Chapter 475

-Part 1. pertains to real estate brokerage

-Part 2. pertains to real estate appraisers

-Part 3. Commercial Real Estate SALES Commission Lien Act (Lien is only on owners

net proceeds)

-Part 4. Commercial Real Estate LEASING Commission Lien Act. (Gives broker lien

rights)

F.S. 455

Chapter 61J2

***When going through application process what should applicant NOT exclude? -

Answer✔✔-***Cautioned to complete carefully, and to fully disclose any background

criminal history EVEN IF conviction was withheld adjudication. {It is the applicants

responsibility to verify these things}

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