REAL ESTATE EXAM FL SALES
ASSOCIATE EXAM QUESTIONS AND
ANSWERS 100% PASS
Absentee Owner - ANS A property owner who does not reside on the property and who
usually relies on a property manager to oversee the investment
Abstract of Title - ANS A compilation of the recorded documents relating to a parcel of land
from which an attorney may give an opinion as to the condition of title (a history of title)
Acceleration Clause - ANS A condition in a loan contract that permits the lender to require
immediate repayment of the entire loan balance of the loan if the contract is breached or
conditions for repayment occur, such as sale or demolition
Acknowledgment - ANS A written declaration by a person signing a document, given before
an officer authorized to give an oath (notary public), stating that the signing is the person's
voluntary act
Actual notice - ANS Giving oral or written notice, presenting a deed, giving verbal notice, or
physically moving into a property
Ad Valorem - ANS According to value
@COPYRIGHT ALL RIGHTS RESERVED PAGE 1 OF 19
,Adjudication Withheld - ANS When a criminal final judgment is withheld or not recorded in
public record
Adjustable Rate Mortgage (ARM) - ANS A mortgage loan with a calculated interest rate that
may increase or decrease during the term of the loan
Adverse Possession: - ANS A method of acquiring title by possession under open, notorious,
exclusive, and hostile conditions for seven or more years
Agent - ANS A person authorized by a principal to act on the principal's behalf
Amortized Mortgage - ANS A mortgage loan that is fully repaid according to a periodic and
consistent schedule that includes both principal and interest
Appraisal - ANS A supported, defended estimate of the value of property rights as of a given
date
Appreciation - ANS An increase in a property's value
Assemblage - ANS The bringing together of two adjoining parcels of property under one
ownership
Arrears - ANS When payment is due at the end of the term
Assignment - ANS A transfer to another of any property, real or personal, or of any rights or
estates in said property
@COPYRIGHT ALL RIGHTS RESERVED PAGE 2 OF 19
, Assumption - ANS The taking over of an existing mortgage by a buyer
Base Line - ANS The horizontal line that runs east and west through Tallahassee that is the
starting point for all other horizontal lines north and south of Tallahassee
Basis - ANS The purchase price plus closing costs and other added improvements
Benchmark - ANS Survey mark made which is permanently fixed in the ground showing the
height of that point in relation to sea level
Bilateral contract - ANS A contract in which both parties enter into mutual promises
Blanket Mortgage - ANS A mortgage that is secured by two or more items of real property
Blind Advertisement - ANS An advertisement of a principal's property providing only a
telephone number, a post office box, and/or an address without the licensed name of the
brokerage firm
Blockbusting - ANS The illegal practice of inducing homeowners to sell their property by
making misrepresentations regarding the entry or prospective entry of minority persons in
order to cause a turnover of properties in the neighborhood; discriminatory acts against sellers
Buffer Zone - ANS A parcel of land separating two other parcels or areas, such as a parcel of
land between residential and commercial properties
Business Opportunity Brokerage - ANS The marketing and sale of a going-concern operation;
Florida requires that business brokers have a real estate license to market business
opportunities
@COPYRIGHT ALL RIGHTS RESERVED PAGE 3 OF 19
ASSOCIATE EXAM QUESTIONS AND
ANSWERS 100% PASS
Absentee Owner - ANS A property owner who does not reside on the property and who
usually relies on a property manager to oversee the investment
Abstract of Title - ANS A compilation of the recorded documents relating to a parcel of land
from which an attorney may give an opinion as to the condition of title (a history of title)
Acceleration Clause - ANS A condition in a loan contract that permits the lender to require
immediate repayment of the entire loan balance of the loan if the contract is breached or
conditions for repayment occur, such as sale or demolition
Acknowledgment - ANS A written declaration by a person signing a document, given before
an officer authorized to give an oath (notary public), stating that the signing is the person's
voluntary act
Actual notice - ANS Giving oral or written notice, presenting a deed, giving verbal notice, or
physically moving into a property
Ad Valorem - ANS According to value
@COPYRIGHT ALL RIGHTS RESERVED PAGE 1 OF 19
,Adjudication Withheld - ANS When a criminal final judgment is withheld or not recorded in
public record
Adjustable Rate Mortgage (ARM) - ANS A mortgage loan with a calculated interest rate that
may increase or decrease during the term of the loan
Adverse Possession: - ANS A method of acquiring title by possession under open, notorious,
exclusive, and hostile conditions for seven or more years
Agent - ANS A person authorized by a principal to act on the principal's behalf
Amortized Mortgage - ANS A mortgage loan that is fully repaid according to a periodic and
consistent schedule that includes both principal and interest
Appraisal - ANS A supported, defended estimate of the value of property rights as of a given
date
Appreciation - ANS An increase in a property's value
Assemblage - ANS The bringing together of two adjoining parcels of property under one
ownership
Arrears - ANS When payment is due at the end of the term
Assignment - ANS A transfer to another of any property, real or personal, or of any rights or
estates in said property
@COPYRIGHT ALL RIGHTS RESERVED PAGE 2 OF 19
, Assumption - ANS The taking over of an existing mortgage by a buyer
Base Line - ANS The horizontal line that runs east and west through Tallahassee that is the
starting point for all other horizontal lines north and south of Tallahassee
Basis - ANS The purchase price plus closing costs and other added improvements
Benchmark - ANS Survey mark made which is permanently fixed in the ground showing the
height of that point in relation to sea level
Bilateral contract - ANS A contract in which both parties enter into mutual promises
Blanket Mortgage - ANS A mortgage that is secured by two or more items of real property
Blind Advertisement - ANS An advertisement of a principal's property providing only a
telephone number, a post office box, and/or an address without the licensed name of the
brokerage firm
Blockbusting - ANS The illegal practice of inducing homeowners to sell their property by
making misrepresentations regarding the entry or prospective entry of minority persons in
order to cause a turnover of properties in the neighborhood; discriminatory acts against sellers
Buffer Zone - ANS A parcel of land separating two other parcels or areas, such as a parcel of
land between residential and commercial properties
Business Opportunity Brokerage - ANS The marketing and sale of a going-concern operation;
Florida requires that business brokers have a real estate license to market business
opportunities
@COPYRIGHT ALL RIGHTS RESERVED PAGE 3 OF 19
