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FLORIDA REAL ESTATE CLASS FINAL
EXAM QUESTIONS AND ANSWERS
2026
What does Caveat Emptor mean? - correct-answer - Let the Buyer Beware.
Usually applied to transactions where the parties have conflicting interests. This
does NOT apply to a Single Agency relationship.
Is Full Disclosure required of a Transactional Broker? - correct-answer - No.
In a No Brokerage or Single Agent relationship, written disclosure applies to
whom? - correct-answer - Single Family Residential. Includes:
1. 1-4 units
2. Vacant land zoned for 1-4 units
3. Agricultural land of 10 or less acres
4. Lease-option to purchase 1-4 residential units
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Ace Realty is representing the seller and the buyer as transaction broker. Assoc
Henry tells the prospective buyer that he believes the seller would accept $10,000
less than the $200,000 list price. Which duty has Assoc Henry violated? - correct-
answer - Limited Confidentiality
An offer of $200,000 on a contract for purchase and sale has been accepted by
the seller. Subsequent offers can what? - correct-answer - Be submitted until
closing when the title is transferred.
A Sales Assoc shows a property which the brokerage firm has listed for sale to a
prospective buyer. The sales associate is considered what to the broker? - correct-
answer - A general agent of the broker
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When is a single agent brokerage relationship terminated? - correct-answer - 1.
Death of Principle agent
2. Insanity of Principle agent
3. Bankruptcy of Principle agent
4. Destruction of the subject property (bldg destroyed)
5. Fulfillment of the object of the employment
How many years must disclosure documents be retained? - correct-answer - 5
A Real Estate broker may sign a contract on behalf of a party to a transaction
when he or she is an - correct-answer - Attorney-in-fact
What are the 3 types of Agents? - correct-answer - 1. Universal Agent - Assigned
by the Principle to perform all acts that the principle can
2. General Agent - Employed to handle all the affairs in a business such as a Sales
Assoc or Property Manager.
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3. Special Agent - Limited to finding prospects, showing the property and
negotiating on behalf of the principle.
Who may the sales assoc accept deposits in the name of? - correct-answer - The
Broker only (always)
A sales assoc is listing a property for sale. He learns there is a lien on the property.
What should he do? - correct-answer - Advise all prospective buyers of the lien
before they submit an offer.
A RE broker's client asks the broker to order a title insurance policy while the
client is out of town. The broker orders a policy and the title company offers the
broker a paid trip to the Bahamas. What should the broker do? - correct-answer -
The broker must fully disclose the facts pertaining to the arrangement to the
client. (Because this is a single agency. Hints the word "client")
FLORIDA REAL ESTATE CLASS FINAL
EXAM QUESTIONS AND ANSWERS
2026
What does Caveat Emptor mean? - correct-answer - Let the Buyer Beware.
Usually applied to transactions where the parties have conflicting interests. This
does NOT apply to a Single Agency relationship.
Is Full Disclosure required of a Transactional Broker? - correct-answer - No.
In a No Brokerage or Single Agent relationship, written disclosure applies to
whom? - correct-answer - Single Family Residential. Includes:
1. 1-4 units
2. Vacant land zoned for 1-4 units
3. Agricultural land of 10 or less acres
4. Lease-option to purchase 1-4 residential units
,2|Page
Ace Realty is representing the seller and the buyer as transaction broker. Assoc
Henry tells the prospective buyer that he believes the seller would accept $10,000
less than the $200,000 list price. Which duty has Assoc Henry violated? - correct-
answer - Limited Confidentiality
An offer of $200,000 on a contract for purchase and sale has been accepted by
the seller. Subsequent offers can what? - correct-answer - Be submitted until
closing when the title is transferred.
A Sales Assoc shows a property which the brokerage firm has listed for sale to a
prospective buyer. The sales associate is considered what to the broker? - correct-
answer - A general agent of the broker
,3|Page
When is a single agent brokerage relationship terminated? - correct-answer - 1.
Death of Principle agent
2. Insanity of Principle agent
3. Bankruptcy of Principle agent
4. Destruction of the subject property (bldg destroyed)
5. Fulfillment of the object of the employment
How many years must disclosure documents be retained? - correct-answer - 5
A Real Estate broker may sign a contract on behalf of a party to a transaction
when he or she is an - correct-answer - Attorney-in-fact
What are the 3 types of Agents? - correct-answer - 1. Universal Agent - Assigned
by the Principle to perform all acts that the principle can
2. General Agent - Employed to handle all the affairs in a business such as a Sales
Assoc or Property Manager.
, 4|Page
3. Special Agent - Limited to finding prospects, showing the property and
negotiating on behalf of the principle.
Who may the sales assoc accept deposits in the name of? - correct-answer - The
Broker only (always)
A sales assoc is listing a property for sale. He learns there is a lien on the property.
What should he do? - correct-answer - Advise all prospective buyers of the lien
before they submit an offer.
A RE broker's client asks the broker to order a title insurance policy while the
client is out of town. The broker orders a policy and the title company offers the
broker a paid trip to the Bahamas. What should the broker do? - correct-answer -
The broker must fully disclose the facts pertaining to the arrangement to the
client. (Because this is a single agency. Hints the word "client")
