Florida Real Estate U Final Study Guide Exam Questions with 100% Correct Answers (Latest 2023)

Why is there a high demand for property managers in Florida? Correct Answer Absentee owners One qualified by education, training and experience who is hired to estimate the value of real and personal property based on experience, judgment, facts, and use of formal appraisal process is known as a/an? Correct Answer Appraiser What is dedication? Correct Answer Giving up private land for public use An organization with at least one real estate broker acting as the agent for others in negotiating the sale or rental of real property for a fee is known as a/an? Correct Answer Real estate brokerage What is a home built from blueprints supplied by the buyer is called? Correct Answer A custom home An appraisal can be completed by? Correct Answer A licensed appraiser using USPAP standards MLS is an acronym for? Correct Answer Multiple Listing System What is a BPO? Correct Answer Broker Price Opinion What is the meaning of Caveat Emptor? Correct Answer Buyer Beware What is the difference between a Broker Associate and a Broker? Correct Answer A Broker Associate has passed the Broker exam but chooses to work for a Broker Which Organization approves the Sales Associate and Broker License Applications? Correct Answer DBPR What is a newly licensed person working for a broker known as? Correct Answer A Sales Associate What is the pre-licensing education requirement for a Broker? Correct Answer 72 hours A Licensee from another State may be able to get a FL license without undergoing pre-licensing education through which of the following? Correct Answer Mutual Recognition