Florida Real Estate STATE exam
The best protection that the public has during a Real Estate transaction is (are)
A. The national and state association of REALTORS
B. The punishment of licensees dealing dishonesty
C. the high ethical standards of real estate agents
D. FREC and the license law - Answer-D. FREC and the license law
A group license
A. allows a broker to have a branch office
B. allows a sales associate to work for more than one broker
C. may be held by a sale associate or broker associate
D.allows a broker to qualify more than one broker firm - Answer-C. may be held by a sale associate or
broker
The following are exempt from F.S. 475 EXCEPT
A. Trustees for an estate
B. Personal representatives for an estate
C. Mortgage brokers engaged in financing activities.
D. Business Brokers - Answer-D. Business Brokers
, General Partners in a brokerage partnership that are not qualified to perform the services of real estate
must be registered as for what? - Answer-For Identification Purposes
Which brokerage disclosure notice must be signed or initialed by the buyer or seller before
implementation? - Answer-Transition to Transaction
When a seller is about to enter a fiduciary relationship with a brokerage firm what must be given? -
Answer-Single Agency Notice
A broker owes which duty to a customer? What should he disclose? - Answer-Known Facts affecting the
value of the residential property
Sale associate works for a broker and receives an escrow deposit when should he deliver it? - Answer-To
his broker immediately (next business day)
Listings obtained by a sales associate become property of whom? - Answer-Employing broker
Jim failed his state exam twice and believes some of the questions that he answered were indeed
correct. He can write a written obligation for consideration for the questions to whom? - Answer-FREC
Validation Committee
Which Florida law prohibits a lender from refinancing a loan to the same borrower within the first 18
months of making a loan, if doing so does NOT reasonably benefit the borrower - Answer-Florida Fair
Lending Act
When there is a dispute over escrow funds, the procedures include four choices. Which choice involves a
third person recommending a solution?
A. Arbitration
The best protection that the public has during a Real Estate transaction is (are)
A. The national and state association of REALTORS
B. The punishment of licensees dealing dishonesty
C. the high ethical standards of real estate agents
D. FREC and the license law - Answer-D. FREC and the license law
A group license
A. allows a broker to have a branch office
B. allows a sales associate to work for more than one broker
C. may be held by a sale associate or broker associate
D.allows a broker to qualify more than one broker firm - Answer-C. may be held by a sale associate or
broker
The following are exempt from F.S. 475 EXCEPT
A. Trustees for an estate
B. Personal representatives for an estate
C. Mortgage brokers engaged in financing activities.
D. Business Brokers - Answer-D. Business Brokers
, General Partners in a brokerage partnership that are not qualified to perform the services of real estate
must be registered as for what? - Answer-For Identification Purposes
Which brokerage disclosure notice must be signed or initialed by the buyer or seller before
implementation? - Answer-Transition to Transaction
When a seller is about to enter a fiduciary relationship with a brokerage firm what must be given? -
Answer-Single Agency Notice
A broker owes which duty to a customer? What should he disclose? - Answer-Known Facts affecting the
value of the residential property
Sale associate works for a broker and receives an escrow deposit when should he deliver it? - Answer-To
his broker immediately (next business day)
Listings obtained by a sales associate become property of whom? - Answer-Employing broker
Jim failed his state exam twice and believes some of the questions that he answered were indeed
correct. He can write a written obligation for consideration for the questions to whom? - Answer-FREC
Validation Committee
Which Florida law prohibits a lender from refinancing a loan to the same borrower within the first 18
months of making a loan, if doing so does NOT reasonably benefit the borrower - Answer-Florida Fair
Lending Act
When there is a dispute over escrow funds, the procedures include four choices. Which choice involves a
third person recommending a solution?
A. Arbitration
