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Florida Real Estate Practice Exam 100
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Florida Real EstateFlorida
Practice
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Exam
Estate
100
Florida
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& Answers
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100
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,Florida Real Estate - Practice exam 100 Question.pdf Florida Real Estate - Practice exam 100 Question.pdf Florida Real Estate - Practice exam 100 Question.pdf
A sales associate was issued a citation for failing to timely notify the Commission of her
change of address. How many days does the licensee have to either pay the citation or
file an objection to the alleged violation?
30 days
Pam's home has an assessed value of $301,000. She qualifies for the Florida homestead
exemption. The area she lives in has the following taxes: County tax rate is 8.6 mills, City
tax rate is 4 mills and the school district tax rate is 6.1 mills. How much will the property
taxes be?
[Section 18 Slide 31] $301,000 -$50,000 = $251,000 x .0126 (8.6 mils + 4 mils =12.6 mils) =
$3,162.60; $301,000 - $25,000=$276,000 x .0061 (6.1 mils) = $1,683.60; $3,162.60+ $1,683.60 =
$4,846.20
Florida Real Estate - Practice exam 100 Question.pdf Florida Real Estate - Practice exam 100 Question.pdf Florida Real Estate - Practice exam 100 Question.pdf
,Florida Real Estate - Practice exam 100 Question.pdf Florida Real Estate - Practice exam 100 Question.pdf Florida Real Estate - Practice exam 100 Question.pdf
What are the similarities between a Business Brokerage and a Real Estate Brokerage?
1) Both deal with Real Property
2) Both require a Real Estate License
3)Both involve Long-term Liabilities
Florida Real Estate - Practice exam 100 Question.pdf Florida Real Estate - Practice exam 100 Question.pdf Florida Real Estate - Practice exam 100 Question.pdf
, Florida Real Estate - Practice exam 100 Question.pdf Florida Real Estate - Practice exam 100 Question.pdf Florida Real Estate - Practice exam 100 Question.pdf
A rental investment property is scheduled to close on September 10. The buyer gets day
of closing. The rent is $1900. How much is debited and/ or credited at closing and to
whom?
$1330 Credit to Buyer and $1330 Debit to Seller
[Section 14, Slide 63] There are 30 days in September, so there are 21 days that the seller
owes the buyer including the day of closing. Divide $1900 by 30 = 63.3333333333 x 21 days
=$1,330
A home was purchased with a down payment of $36, 000 and a loan of $200,000 at 6.5%
for 30 years. Monthly payments are $1,264.14. What is the loan to value ratio?
[Section 12 Slide 52] $36,000 + $200,000 = $236,000 Purchase price; $200,000 � $236,000 =
0.8474576271 or 85% rounded.
Florida Real Estate - Practice exam 100 Question.pdf Florida Real Estate - Practice exam 100 Question.pdf Florida Real Estate - Practice exam 100 Question.pdf