GOLD COAST REAL ESTATE FINAL EXAM
WITH CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS
LATEST ALREADY GRADED A+ 2026
When is implied contract created? - ANSWERS-When some
of the terms and conditions must be inferred
T/F: A corporation-for-profit can register as a brokerage -
ANSWERS-True, a corporation-for-profit can register as a
brokerage
When an agent sells their own property, what should they
do? - ANSWERS-Disclose their license status
An attorney-in-fact has what? - ANSWERS-The power-of-
attorney to act for another
If a broker receives an escrow check on Monday, when must
they deposit it by? - ANSWERS-Thursday
,What is required in a tenancy-for-years? - ANSWERS-A
written agreement, creating a nonfreehold estate, providing
occupancy of the property for a specified time period
What is a real estate licensee expected to know?
A. Valuation
B. Marketing
C. Property transfer
D. All of the above - ANSWERS-D. All of the above
Real estate licensees are expected to know valuation,
marketing, and property transfer
T/F: A real estate investment trust is a lender in the
secondary market - ANSWERS-False, a real estate
investment trust is NOT a lender in the secondary market
Who would normally pay the state document tax on the
note? - ANSWERS-The individual who is assuming the
mortgage
What is an example of an over-improvement? - ANSWERS-
An expensive addition to a home
, Who does a transaction broker provide limited
representation to? - ANSWERS-A buyer, a seller, or both
If someone besides the original owner is to receive the
ownership, it is called a ___________ - ANSWERS-
Remainder Estate
What protects a spouse from being harmed by an unfair
will? - ANSWERS-Elective Shares
If you move out of the state, who do you notify and how
long do you have to do so? - ANSWERS-FREC, within 60 days
What is the grace period if you don't complete your post-
license education? - ANSWERS-There is no grace period
Not showing minorities houses in certain cities is an
example of what? - ANSWERS-Steering
What records a deed in public records? - ANSWERS-
Constructive Notice
WITH CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS
LATEST ALREADY GRADED A+ 2026
When is implied contract created? - ANSWERS-When some
of the terms and conditions must be inferred
T/F: A corporation-for-profit can register as a brokerage -
ANSWERS-True, a corporation-for-profit can register as a
brokerage
When an agent sells their own property, what should they
do? - ANSWERS-Disclose their license status
An attorney-in-fact has what? - ANSWERS-The power-of-
attorney to act for another
If a broker receives an escrow check on Monday, when must
they deposit it by? - ANSWERS-Thursday
,What is required in a tenancy-for-years? - ANSWERS-A
written agreement, creating a nonfreehold estate, providing
occupancy of the property for a specified time period
What is a real estate licensee expected to know?
A. Valuation
B. Marketing
C. Property transfer
D. All of the above - ANSWERS-D. All of the above
Real estate licensees are expected to know valuation,
marketing, and property transfer
T/F: A real estate investment trust is a lender in the
secondary market - ANSWERS-False, a real estate
investment trust is NOT a lender in the secondary market
Who would normally pay the state document tax on the
note? - ANSWERS-The individual who is assuming the
mortgage
What is an example of an over-improvement? - ANSWERS-
An expensive addition to a home
, Who does a transaction broker provide limited
representation to? - ANSWERS-A buyer, a seller, or both
If someone besides the original owner is to receive the
ownership, it is called a ___________ - ANSWERS-
Remainder Estate
What protects a spouse from being harmed by an unfair
will? - ANSWERS-Elective Shares
If you move out of the state, who do you notify and how
long do you have to do so? - ANSWERS-FREC, within 60 days
What is the grace period if you don't complete your post-
license education? - ANSWERS-There is no grace period
Not showing minorities houses in certain cities is an
example of what? - ANSWERS-Steering
What records a deed in public records? - ANSWERS-
Constructive Notice
