Florida Real Estate Exam Applicants
100-Question Practice Exam.
We recommend that you print this 100-question practice exam. Take the exam, then
grade it using the answer key on the last page. You should strive for a minimum score
of 75% correct.
Be sure to review the real estate license law and the Rules of the FREC!
Go to http://www.realestate-school.com
License Law Section
1. Seller employed Broker to sell his property in Astoria Park. Broker subsequently
negotiated a contract whereby Seller and Buyer agreed to sell and buy the property in
Astoria Park. The contract was prepared and typed in Broker's office. As there were
numerous conditions and terms that had been agreed upon by Seller and Buyer, the
contract was quite long and involved. Since the amount of deposit obtained by Broker
from Buyer was equal to what his commission was going to be, in the middle of one of
the long paragraphs was the phrase "In the event the buyer defaults, the deposit shall be
retained by the broker as his compensation." At the time Broker presented the contract to
Seller and Buyer for their signatures, he made no mention of the phrase he inserted in the
contract, nor did he recommend that they read the contract. However, he did not in any
way try to influence them not to read it. Seller and Buyer signed the contract without
reading it. In the area, a 50/50 split of defaulted deposits is customary between sellers
and brokers. Buyer subsequently defaulted. Seller asked Broker for 50% of the deposit.
Broker refused and showed Seller the phrase he had inserted in the contract. What should
Broker do?
a. Share the deposit 50/50 with Buyer.
b. Give Seller 50% of the deposit.
c. Give Seller an amount equal to his expenses and keep the rest.
d. Observe the terms of the contract and keep the deposit.
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the Florida Exam Review Manual
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© The Real Estate School, Inc. http://www.realestate-school.com ALL RIGHTS RESERVED 1
,2. Possession of a current and valid license will be considered by a court
a. to have no effect.
b. as undeniable proof that the holder of that license may perform the services
of real estate.
c. as sufficient evidence to prove the license status unless stronger evidence to the
contrary is introduced.
d. as certification by the Commission that the license is in good standing.
3. A salesperson gets a signed contract from a buyer and mails it to the seller. The seller has
agreed to the terms and the escrow deposit is safely in the broker's escrow account. The
salesperson has a disagreement with his broker and quits. The broker refuses to pay a
commission because the salesperson was not in his employ when the contract was
actually received and signed. The salesperson should
a. notify the state.
b. sue the seller for his share.
c. sue the broker.
d. forget it. He is not entitled to the commission.
Need more questions to review? Get
the RealClass Exam CD
1001 Questions and Answers
http://www.realestate-school.com
4. A licensee who has passed the broker's state examination, but desires to continue to
operate under an owner-employer will be registered as a
a. broker.
b. salesperson.
c. broker-salesperson.
d. Realtor-Associate.
5. A hardware store owner, who is neither a real estate licensee nor a licensed or certified
appraiser, was appointed by the court to appraise another hardware store. The person can
a. be compensated for the appraisal.
b. not be compensated for the appraisal unless licensed or certified.
c. apply for a temporary license from the Commission.
d. appraise any hardware store in the state without a license.
6. In order to be a licensee member of the Florida Real Estate Commission, an individual
must have been licensed a minimum of
a. 1 year.
b. 2 years.
c. 4 years.
d. 5 years.
© The Real Estate School, Inc. http://www.realestate-school.com ALL RIGHTS RESERVED 2
, 7. Broker Bill has a listing contract to sell Janet's condominium. A prospective buyer offers
to pay $60,000, but refuses to give a binder deposit with the contract. Broker Bill should
a. refuse to submit the offer until accompanied by valuable consideration.
b. present the offer and suggest that the owner counteroffer for a binder.
c. present the offer only if the buyer promises to pay a binder if accepted.
d. present the offer only if it is close to the asking price.
8. A buyer gives a salesperson a binder check made out to him. The salesperson should
a. hold the check in the file until the broker returns and turn it over to him.
b. endorse the check and deposit it in the broker's business account.
c. endorse the check and give it to the broker within one business day.
d. put the check in his personal account, then write his personal check to the broker.
9. The F.R.E.C. is composed of
a. four brokers and three lay members.
b. five brokers and two lay members.
c. three brokers, two brokers or salespersons, and two lay members.
d. seven members.
10. Licensure may be suspended for what maximum period of time?
a. 1 year
b. 2 years
c. 5 years
d. 10 years
11. Broker Larry, Broker Linda, and Broker Susan form a partnership to buy a tract of land
and develop and sell the land. Salesperson Lee joins the partnership and profits will be
split equally among the four. Profits for the first year amount to $80,000. Which is
correct?
a. Profits may be divided three ways only. Salesperson Lee cannot be a partner.
b. Profits may be divided four ways.
c. Salesperson Lee may be a partner only if he has broker status.
d. a and c
Need more time hearing the
material? Get the Real Estate Exam
Review Audiocassettes
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12. Which is not correct?
a. A licensee may be paid a commission only by his employer.
b. A licensee may not work for more than one employer.
c. A real estate licensee may not appraise a single family residence unless she has
been licensed as a state licensed or certified appraiser.
d. A licensee has no grace period for renewing a license, and may not operate while
the license is expired.
© The Real Estate School, Inc. http://www.realestate-school.com ALL RIGHTS RESERVED 3
100-Question Practice Exam.
We recommend that you print this 100-question practice exam. Take the exam, then
grade it using the answer key on the last page. You should strive for a minimum score
of 75% correct.
Be sure to review the real estate license law and the Rules of the FREC!
Go to http://www.realestate-school.com
License Law Section
1. Seller employed Broker to sell his property in Astoria Park. Broker subsequently
negotiated a contract whereby Seller and Buyer agreed to sell and buy the property in
Astoria Park. The contract was prepared and typed in Broker's office. As there were
numerous conditions and terms that had been agreed upon by Seller and Buyer, the
contract was quite long and involved. Since the amount of deposit obtained by Broker
from Buyer was equal to what his commission was going to be, in the middle of one of
the long paragraphs was the phrase "In the event the buyer defaults, the deposit shall be
retained by the broker as his compensation." At the time Broker presented the contract to
Seller and Buyer for their signatures, he made no mention of the phrase he inserted in the
contract, nor did he recommend that they read the contract. However, he did not in any
way try to influence them not to read it. Seller and Buyer signed the contract without
reading it. In the area, a 50/50 split of defaulted deposits is customary between sellers
and brokers. Buyer subsequently defaulted. Seller asked Broker for 50% of the deposit.
Broker refused and showed Seller the phrase he had inserted in the contract. What should
Broker do?
a. Share the deposit 50/50 with Buyer.
b. Give Seller 50% of the deposit.
c. Give Seller an amount equal to his expenses and keep the rest.
d. Observe the terms of the contract and keep the deposit.
Need more questions to review? Get
the Florida Exam Review Manual
http://www.realestate-school.com
© The Real Estate School, Inc. http://www.realestate-school.com ALL RIGHTS RESERVED 1
,2. Possession of a current and valid license will be considered by a court
a. to have no effect.
b. as undeniable proof that the holder of that license may perform the services
of real estate.
c. as sufficient evidence to prove the license status unless stronger evidence to the
contrary is introduced.
d. as certification by the Commission that the license is in good standing.
3. A salesperson gets a signed contract from a buyer and mails it to the seller. The seller has
agreed to the terms and the escrow deposit is safely in the broker's escrow account. The
salesperson has a disagreement with his broker and quits. The broker refuses to pay a
commission because the salesperson was not in his employ when the contract was
actually received and signed. The salesperson should
a. notify the state.
b. sue the seller for his share.
c. sue the broker.
d. forget it. He is not entitled to the commission.
Need more questions to review? Get
the RealClass Exam CD
1001 Questions and Answers
http://www.realestate-school.com
4. A licensee who has passed the broker's state examination, but desires to continue to
operate under an owner-employer will be registered as a
a. broker.
b. salesperson.
c. broker-salesperson.
d. Realtor-Associate.
5. A hardware store owner, who is neither a real estate licensee nor a licensed or certified
appraiser, was appointed by the court to appraise another hardware store. The person can
a. be compensated for the appraisal.
b. not be compensated for the appraisal unless licensed or certified.
c. apply for a temporary license from the Commission.
d. appraise any hardware store in the state without a license.
6. In order to be a licensee member of the Florida Real Estate Commission, an individual
must have been licensed a minimum of
a. 1 year.
b. 2 years.
c. 4 years.
d. 5 years.
© The Real Estate School, Inc. http://www.realestate-school.com ALL RIGHTS RESERVED 2
, 7. Broker Bill has a listing contract to sell Janet's condominium. A prospective buyer offers
to pay $60,000, but refuses to give a binder deposit with the contract. Broker Bill should
a. refuse to submit the offer until accompanied by valuable consideration.
b. present the offer and suggest that the owner counteroffer for a binder.
c. present the offer only if the buyer promises to pay a binder if accepted.
d. present the offer only if it is close to the asking price.
8. A buyer gives a salesperson a binder check made out to him. The salesperson should
a. hold the check in the file until the broker returns and turn it over to him.
b. endorse the check and deposit it in the broker's business account.
c. endorse the check and give it to the broker within one business day.
d. put the check in his personal account, then write his personal check to the broker.
9. The F.R.E.C. is composed of
a. four brokers and three lay members.
b. five brokers and two lay members.
c. three brokers, two brokers or salespersons, and two lay members.
d. seven members.
10. Licensure may be suspended for what maximum period of time?
a. 1 year
b. 2 years
c. 5 years
d. 10 years
11. Broker Larry, Broker Linda, and Broker Susan form a partnership to buy a tract of land
and develop and sell the land. Salesperson Lee joins the partnership and profits will be
split equally among the four. Profits for the first year amount to $80,000. Which is
correct?
a. Profits may be divided three ways only. Salesperson Lee cannot be a partner.
b. Profits may be divided four ways.
c. Salesperson Lee may be a partner only if he has broker status.
d. a and c
Need more time hearing the
material? Get the Real Estate Exam
Review Audiocassettes
http://www.realestate-school.com
12. Which is not correct?
a. A licensee may be paid a commission only by his employer.
b. A licensee may not work for more than one employer.
c. A real estate licensee may not appraise a single family residence unless she has
been licensed as a state licensed or certified appraiser.
d. A licensee has no grace period for renewing a license, and may not operate while
the license is expired.
© The Real Estate School, Inc. http://www.realestate-school.com ALL RIGHTS RESERVED 3
