Florida Real Estate Exam QUESTIONS WITH 100% CORRECT AND VERIFIED ANSWERS

Expert Information - Answer- The Product that a real estate sales associate must market Property Transfer Market Conditions How to market real estate and business - Answer- The three areas of expertise that real estate licensees bring to the transaction - Knowledge of Residential Commercial Industrial Agricultural Businesses - Answer- Five major sales specialties that real estate agents are involved in Specifically marketing to a group of people ex. showing houses to doctors near hospitals - Answer- Target Marketing Expert in the portion of a city - Answer- Farm Area Residential Commercial Industrial Agricultural Business - Answer- Five Major Sales Specialties Service conducted by a person or company hired to maintain and manage property on behalf of property owners (must be a broker unless paid a salary) - Answer- Property Management Property owner who does not reside on the property and who often relies on a professional property manager to manage the investment - Answer- Absentee Owner Applicable to mobile home parks, planned unit developments, homeowners associations, cooperatives, time-shares, condominiums, and other residential units. ( Must hold CAM license when a community association consists of more than 10 units or has an annual budget in excess of $100,000) - Answer- Community Association Manager (CAM) Process of developing and communicating an estimate of a properties value (Only a state certified or licensed appraiser can prepare an appraisal that involves a federally related transaction) - Answer- Appraisal Florida Real Estate Appraisal Board - Answer- FREAB Uniform Standards of Professional Appraisal Practice - set of guidelines to follow when providing appraisal services - Answer- USPAP Developed by collecting information concerning real estate activity in the area, including recent sales of similar properties (as a sales associate you will always use a CMA) - Answer- Comparative Market Analysis (CMA)