Florida Real Estate Exam Questions and Answers 100% Correct

Florida Real Estate Exam Questions and Answers 100% CorrectFlorida Real Estate Exam Questions and Answers 100% CorrectFlorida Real Estate Exam Questions and Answers 100% CorrectFlorida Real Estate Exam Questions and Answers 100% CorrectBinder deposit shows up as what on closing statement? - ANSWER-Credit to buyer Which of the following is true about leverage? - ANSWER-Leverage is the use of borrowed funds to purchase assets. Which of the following liens would take priority? - ANSWER-A property tax lien In which of the following theories of mortgage lending does the borrower not retain ownership of the property during the loan period? - ANSWER-Title theory What is the status of a sales associate's license if he does not complete the required 45-hour post license course before the first expiration of his license? - ANSWER-Null and void Which mortgage clause allows the mortgagee the right to demand the outstanding loan balance plus accrued interest in the event that the borrower sells or transfers any interest in the property without the lenders prior written consent? - ANSWER-Due-on-sale clause Which of the following is the type of method a surveyor would use to describe a property that is in a subdivision? - ANSWER-The lot and block method Which of the following is also called "legal notice" and is the act of recording documents in the public records? - ANSWER-Constructive notice What kind of rights are associated with water flowing through your property? - ANSWER-Riparian rights Which of the following expenses associated with a principal residence are deductible for income tax purposes? - ANSWER-Mortgage interest and property taxes In platted subdivision, the legal description most often used is? - ANSWER-Lot and block An option contract is a? - ANSWER-Unilateral contract