Florida Real Estate Pre-License Final Exam Questions with Correct Answers (Latest 2023)

What has a large tract of land and is designated for unit development rather than for a single use? Correct Answer Planned Unit Developments (PUD) Housing What type of leverage occurs when the rate of return exceeds? Correct Answer Positive Leverage What is the APR when you have 10% Loan + 6 points? Correct Answer APR = 10.75% (Remember Divide 6 by 8 years which gives you .75) Somebody that owns a property until they die is what type of ownership? Correct Answer Life Estate The grantor of the life estate may wish to have the property ownership returned to him or her or to his or her heirs. What's the right to regain this ownership called? Correct Answer Reversion Doc stamps on Deeds is calculated at the rate of what value OR what part? Correct Answer Rate of $.70 per $100 of Value, or Fractional Part thereof (oft) (*Question read something that can't change location...) Correct Answer Branch Location Bob calls his friend who is a realtor and tells him his sister is looking to buy a house. His friend ends up closing a deal of his sister. What should Bob's friend do after he has received his commission? A. Take him out to dinner B. Pay him a Referral Fee C. Give a gift certificate D. Write him a Thank You card Correct Answer D. Thank You Card Florida does not reciprocate with other states, but does have some states that have educational requirements that are similar. What is this called? Correct Answer Mutual Recognition What establishes the standards under which buildings must be designed and constructed? A. Zoning Laws.