REPL EXAM
A $1.5 billion agency regulating one million professionals and businesses across some 200
licensee categories in Florida is: - ANSThe Florida Department of Business and Professional
Regulation.
Who elects the Chairperson of the FREC? - ANSThe FREC Members
What is the primary mission of FREC? - ANSTo protect the public
Nelson just received his Florida license. Which of the following will NOT be on the license? -
ANSAn Equal Housing Opportunity Logo
Broker Norman failed to display an office entrance sign. Which disciplinary action is Norman
most likely to receive? - ANSA citation
Jane cheated on her real estate examination and was caught. What will happen? - ANSJane will
have her application denied.
A veteran sales associate's license expired on September 30. What will be the status of the
license on Oct. 1? - ANSThe license is involuntarily inactive.
Katherine loves to show and sell houses for others for compensation. She has been doing so for
two years and without a license. She has been caught and she wants to obtain a license. What
is likely to happen? - ANSThe FREC may deny her license since she was holding herself out to
be a licensee, practicing real estate in the previous year.
The Real Estate Recovery Fund - ANSWas designed to serve as consumer protection for those
consumers who were harmed in a real estate transaction.
Jane is a college graduate with a four-year degree in real estate. She has a sales associate's
license and seeks to renew the license for the second time. What must she do? - ANSShe must
take 14 hours of continued education. She must fill out the form, pay the fee, and return it before
the expiration date.
In a licensee's personal business budget, a trade association fee would qualify as what type of
expense? - ANSOperating expense
What does it mean to "qualify" a seller in real estate? - ANSTo find out if the seller is truly ready
to sell
,When you are developing your Target Market Summary, you should: - ANSSelect an area with
which you are familiar and in which you are comfortable.
You are scheduled for "floor time" tomorrow. What is "floor time"? - ANSWhen an agent is in the
office to receive phone calls from prospective clients
A possible client walks into your office and says he wants to buy a house. He has not talked to a
mortgage agent yet, but he says he can pay 25% down and already knows how much of a
monthly payment he can afford. He wants to move in the next 90 days. What should your next
step be? - ANSAdvise him to speak with a mortgage agent and get, at minimum, pre-qualified,
but preferably pre-approved for a loan.
Which of the following is a benefit of developing a Business and Marketing Plan? - ANSIt will
help you set clear goals and stay focused.
One of your least favorite things to do is write your monthly newsletter. But it has to be out by
the end of the week, and you have scheduled yourself time to work on it today. Where should it
be on your "to-do" list? - ANSFirst on the list so you can get it over with and move on to things
you enjoy.
According to the course, people should have - ANSThree months' salary in savings.
You have been an agent for six months. You are reviewing your activities and their results. You
find that you are getting one listing appointment for every 20 expired listings you call. You also
find that you are getting one for every ten FSBOs you call. You should: - ANSSpend less time
on Expireds and more on FSBOs, since that is where you are getting the best results.
You are creating a form to track your performance as a Real Estate agent. What activity should
not be included on the form? - ANSFloor time. Because it is scheduled by your office, and you
can use the time for other things; it does not need to be tracked.
What type of legal notice would most likely provide leads? - ANSForeclosures
Which of the following is NOT an exception to the Do-Not-Call laws? - ANSYou can call as long
as you block your company name and number.
Which of the following is most important to have on a licensee's personal website? - ANSThe
licensee's contact information
Once you have sent your friends and family a letter of introduction regarding your real estate
practice: - ANSYou should follow-up with a phone call in a day or two.
, When someone whose previous listing expired tells you mistakes the previous agent made: -
ANSComment on the action, not the agent, and explain how a different action might produce
different results next time.
What should you give to potential customers when prospecting door-to-door? - ANSYour
business card
If you prefer meeting people face-to-face, select a neighborhood and go knocking on doors.
When you go, you should: - ANSDress professionally
You are trying to select a "farm" area and you have narrowed the choices down to four areas, as
follows. Among the alternatives, which would be the best choice? - ANSAn area close to your
own house, where the 125 homes are similar to yours and familiar to you.
What is the primary advantage of selling your own home without an agent? - ANSThat you do
not have to pay $1000's in the form of a commission
When prospecting FSBOs: - ANSCall and ask if you can view the house and ask if they are
willing to work with you if you find a buyer.
A house was listed for $400,000 and it sold for 93% of its listing price. There was no mortgage
lien on the property. The brokers' commission was 7% of the sales price. Other closing costs
came to 1% of sales price. What was the seller's net? - ANS$342,240
Which of the following questions will not help you determine a home's best list price? - ANSHow
much do you think your home is worth?
When developing a marketing plan for the CMA you should: - ANSInclude how often you intend
to hold open houses.
According to what theory should an aged house be demolished and replaced with high-rise
condominiums? - ANSHighest and Best Use
When determining market value of a home, "conformity" means: - ANSThat the homes in a
particular neighborhood should be similar in size and style.
The benefit of including in your CMA similar homes that listed but did not sell is: - ANSIt shows
your clients that comparable but expired listings may have been overpriced.
What is one benefit you CANNOT offer to someone who lists with you? - ANSA guarantee that
the house will sell in 60 days or less.
If your sellers have painted their living rooms walls a bright blue, you should: - ANSSuggest they
paint over it with a more subtle, neutral color.
A $1.5 billion agency regulating one million professionals and businesses across some 200
licensee categories in Florida is: - ANSThe Florida Department of Business and Professional
Regulation.
Who elects the Chairperson of the FREC? - ANSThe FREC Members
What is the primary mission of FREC? - ANSTo protect the public
Nelson just received his Florida license. Which of the following will NOT be on the license? -
ANSAn Equal Housing Opportunity Logo
Broker Norman failed to display an office entrance sign. Which disciplinary action is Norman
most likely to receive? - ANSA citation
Jane cheated on her real estate examination and was caught. What will happen? - ANSJane will
have her application denied.
A veteran sales associate's license expired on September 30. What will be the status of the
license on Oct. 1? - ANSThe license is involuntarily inactive.
Katherine loves to show and sell houses for others for compensation. She has been doing so for
two years and without a license. She has been caught and she wants to obtain a license. What
is likely to happen? - ANSThe FREC may deny her license since she was holding herself out to
be a licensee, practicing real estate in the previous year.
The Real Estate Recovery Fund - ANSWas designed to serve as consumer protection for those
consumers who were harmed in a real estate transaction.
Jane is a college graduate with a four-year degree in real estate. She has a sales associate's
license and seeks to renew the license for the second time. What must she do? - ANSShe must
take 14 hours of continued education. She must fill out the form, pay the fee, and return it before
the expiration date.
In a licensee's personal business budget, a trade association fee would qualify as what type of
expense? - ANSOperating expense
What does it mean to "qualify" a seller in real estate? - ANSTo find out if the seller is truly ready
to sell
,When you are developing your Target Market Summary, you should: - ANSSelect an area with
which you are familiar and in which you are comfortable.
You are scheduled for "floor time" tomorrow. What is "floor time"? - ANSWhen an agent is in the
office to receive phone calls from prospective clients
A possible client walks into your office and says he wants to buy a house. He has not talked to a
mortgage agent yet, but he says he can pay 25% down and already knows how much of a
monthly payment he can afford. He wants to move in the next 90 days. What should your next
step be? - ANSAdvise him to speak with a mortgage agent and get, at minimum, pre-qualified,
but preferably pre-approved for a loan.
Which of the following is a benefit of developing a Business and Marketing Plan? - ANSIt will
help you set clear goals and stay focused.
One of your least favorite things to do is write your monthly newsletter. But it has to be out by
the end of the week, and you have scheduled yourself time to work on it today. Where should it
be on your "to-do" list? - ANSFirst on the list so you can get it over with and move on to things
you enjoy.
According to the course, people should have - ANSThree months' salary in savings.
You have been an agent for six months. You are reviewing your activities and their results. You
find that you are getting one listing appointment for every 20 expired listings you call. You also
find that you are getting one for every ten FSBOs you call. You should: - ANSSpend less time
on Expireds and more on FSBOs, since that is where you are getting the best results.
You are creating a form to track your performance as a Real Estate agent. What activity should
not be included on the form? - ANSFloor time. Because it is scheduled by your office, and you
can use the time for other things; it does not need to be tracked.
What type of legal notice would most likely provide leads? - ANSForeclosures
Which of the following is NOT an exception to the Do-Not-Call laws? - ANSYou can call as long
as you block your company name and number.
Which of the following is most important to have on a licensee's personal website? - ANSThe
licensee's contact information
Once you have sent your friends and family a letter of introduction regarding your real estate
practice: - ANSYou should follow-up with a phone call in a day or two.
, When someone whose previous listing expired tells you mistakes the previous agent made: -
ANSComment on the action, not the agent, and explain how a different action might produce
different results next time.
What should you give to potential customers when prospecting door-to-door? - ANSYour
business card
If you prefer meeting people face-to-face, select a neighborhood and go knocking on doors.
When you go, you should: - ANSDress professionally
You are trying to select a "farm" area and you have narrowed the choices down to four areas, as
follows. Among the alternatives, which would be the best choice? - ANSAn area close to your
own house, where the 125 homes are similar to yours and familiar to you.
What is the primary advantage of selling your own home without an agent? - ANSThat you do
not have to pay $1000's in the form of a commission
When prospecting FSBOs: - ANSCall and ask if you can view the house and ask if they are
willing to work with you if you find a buyer.
A house was listed for $400,000 and it sold for 93% of its listing price. There was no mortgage
lien on the property. The brokers' commission was 7% of the sales price. Other closing costs
came to 1% of sales price. What was the seller's net? - ANS$342,240
Which of the following questions will not help you determine a home's best list price? - ANSHow
much do you think your home is worth?
When developing a marketing plan for the CMA you should: - ANSInclude how often you intend
to hold open houses.
According to what theory should an aged house be demolished and replaced with high-rise
condominiums? - ANSHighest and Best Use
When determining market value of a home, "conformity" means: - ANSThat the homes in a
particular neighborhood should be similar in size and style.
The benefit of including in your CMA similar homes that listed but did not sell is: - ANSIt shows
your clients that comparable but expired listings may have been overpriced.
What is one benefit you CANNOT offer to someone who lists with you? - ANSA guarantee that
the house will sell in 60 days or less.
If your sellers have painted their living rooms walls a bright blue, you should: - ANSSuggest they
paint over it with a more subtle, neutral color.
