FLORIDA REAL ESTATE EVALUATED
QUESTIONS WITH ANSWERS
Brokers who list and sell smaller businesses are - CORRECT
ANSWER-business opportunity brokers.
Before roadbuilding begins, a developer must submit a
document to the local planning board for approval. The
document is called a - CORRECT ANSWER-subdivision plat
map.
Investors who don't live on the properties they own are -
CORRECT ANSWER-absentee owners.
Real estate specialists who sell properties close to airports,
seaports, and rail sidings work in which sector of the real estate
business? - CORRECT ANSWER-Industrial
The field of real estate that requires knowledge of financial
statements for investment properties, traffic counts, and types
of nonresidential property financing is - CORRECT ANSWER-
commercial.
A real estate licensee who works a "farm area" is usually
involved in - CORRECT ANSWER-residential sales and
listings.
A person who takes applications for a mortgage loan must -
CORRECT ANSWER-be licensed as a loan originator by the
Florida Office of Financial Regulation.
Approximately what percentage of the country's wealth is
related to real estate? - CORRECT ANSWER-75
,When a developer deeds the streets and easements to the
county government for future maintenance, it is called -
CORRECT ANSWER-dedication.
When making appraisals, real estate licensees must conform to
- CORRECT ANSWER-the Uniform Standards of Professional
Appraisal Practice (USPAP).
A sales associate who researches the sale prices of properties
that sold will learn - CORRECT ANSWER-what the house
should appraise for.
When a builder builds a house for a specific customer, it is -
CORRECT ANSWER-custom building.
The most common valuation process used by brokers and
sales associates is the preparation of - CORRECT ANSWER-a
comparative market analysis (CMA).
A bank appraisal must be made by - CORRECT ANSWER-a
state-certified or licensed appraiser.
A broker who prepares a CMA - CORRECT ANSWER-can
charge a fee for the service.
The Florida Real Estate Commission is - CORRECT ANSWER-
a consumer protection agency.
Which part of Chapter 475 establishes the Florida Real Estate
Commission? - CORRECT ANSWER-Part I
A broker's license will become void when the first license
expires unless the broker has - CORRECT ANSWER-
completed at least 60 hours of broker post-licensing courses.
,The problem with the Florida Real Estate License law that was
passed in 1923 was that - CORRECT ANSWER-it did not
establish an enforcement body.
Applicants for a real estate license must have a - CORRECT
ANSWER-United States Social Security number.
Which is NOT a part of the 14-hour continuing education
requirement for brokers and sales associates? - CORRECT
ANSWER-Property management
Which is NOT a service that requires a real estate license? -
CORRECT ANSWER-Originate mortgages
Broker applicants must have worked under a broker in any
state for at least - CORRECT ANSWER-two years.
A man who deals in real property is NOT exempt from having a
real estate license if he - CORRECT ANSWER-performs one of
the eight services of real estate for another for compensation.
The unlicensed practice of real estate is a - CORRECT
ANSWER-third degree felony.
The maximum fine that can be levied by the DBPR for each
offense is - CORRECT ANSWER-$5,000.
Which licensee is qualified to be a broker, but has decided to
work under the supervision of another broker or an owner
developer? - CORRECT ANSWER-A broker associate
What is the maximum number of days the DBPR has to review
the information in an license application? - CORRECT
ANSWER-90 days.
"Let the buyer beware" was the public's image of real estate
brokers before the state set up the Florida Real Estate
, Commission. The Latin term is - CORRECT ANSWER-caveat
emptor.
The Department that enforces the law against persons who
practice a profession without having a license is the -
CORRECT ANSWER-Department of Business and
Professional Regulation (DBPR).
Which is NOT one of the divisions in the Department of
Business and Professional Regulation? - CORRECT
ANSWER-Division of Internet Operations
The license of a veteran sales associate expired March 31 last
year. This year in June, she wants to renew her license. She
must pay a late fee, pay the renewal fee, and complete a -
CORRECT ANSWER-28-hour reactivation education course.
With respect to regulation, the legislative intent is that -
CORRECT ANSWER-professions can be regulated only to
preserve the health, safety, and welfare of the public.
In which case can an inactive sales associate receive a
commission? - CORRECT ANSWER-In no case
Funds collected by the Real Estate Commission may be used -
CORRECT ANSWER-for real estate regulation.
The license renewal dates are on - CORRECT ANSWER-
March 31 or September 30.
A licensee in good standing who is a member of the Armed
Forces is exempt from renewing the license as long as he or
she is a member of the Armed Forces on active duty and for a
period of - CORRECT ANSWER-2 years after discharge.
QUESTIONS WITH ANSWERS
Brokers who list and sell smaller businesses are - CORRECT
ANSWER-business opportunity brokers.
Before roadbuilding begins, a developer must submit a
document to the local planning board for approval. The
document is called a - CORRECT ANSWER-subdivision plat
map.
Investors who don't live on the properties they own are -
CORRECT ANSWER-absentee owners.
Real estate specialists who sell properties close to airports,
seaports, and rail sidings work in which sector of the real estate
business? - CORRECT ANSWER-Industrial
The field of real estate that requires knowledge of financial
statements for investment properties, traffic counts, and types
of nonresidential property financing is - CORRECT ANSWER-
commercial.
A real estate licensee who works a "farm area" is usually
involved in - CORRECT ANSWER-residential sales and
listings.
A person who takes applications for a mortgage loan must -
CORRECT ANSWER-be licensed as a loan originator by the
Florida Office of Financial Regulation.
Approximately what percentage of the country's wealth is
related to real estate? - CORRECT ANSWER-75
,When a developer deeds the streets and easements to the
county government for future maintenance, it is called -
CORRECT ANSWER-dedication.
When making appraisals, real estate licensees must conform to
- CORRECT ANSWER-the Uniform Standards of Professional
Appraisal Practice (USPAP).
A sales associate who researches the sale prices of properties
that sold will learn - CORRECT ANSWER-what the house
should appraise for.
When a builder builds a house for a specific customer, it is -
CORRECT ANSWER-custom building.
The most common valuation process used by brokers and
sales associates is the preparation of - CORRECT ANSWER-a
comparative market analysis (CMA).
A bank appraisal must be made by - CORRECT ANSWER-a
state-certified or licensed appraiser.
A broker who prepares a CMA - CORRECT ANSWER-can
charge a fee for the service.
The Florida Real Estate Commission is - CORRECT ANSWER-
a consumer protection agency.
Which part of Chapter 475 establishes the Florida Real Estate
Commission? - CORRECT ANSWER-Part I
A broker's license will become void when the first license
expires unless the broker has - CORRECT ANSWER-
completed at least 60 hours of broker post-licensing courses.
,The problem with the Florida Real Estate License law that was
passed in 1923 was that - CORRECT ANSWER-it did not
establish an enforcement body.
Applicants for a real estate license must have a - CORRECT
ANSWER-United States Social Security number.
Which is NOT a part of the 14-hour continuing education
requirement for brokers and sales associates? - CORRECT
ANSWER-Property management
Which is NOT a service that requires a real estate license? -
CORRECT ANSWER-Originate mortgages
Broker applicants must have worked under a broker in any
state for at least - CORRECT ANSWER-two years.
A man who deals in real property is NOT exempt from having a
real estate license if he - CORRECT ANSWER-performs one of
the eight services of real estate for another for compensation.
The unlicensed practice of real estate is a - CORRECT
ANSWER-third degree felony.
The maximum fine that can be levied by the DBPR for each
offense is - CORRECT ANSWER-$5,000.
Which licensee is qualified to be a broker, but has decided to
work under the supervision of another broker or an owner
developer? - CORRECT ANSWER-A broker associate
What is the maximum number of days the DBPR has to review
the information in an license application? - CORRECT
ANSWER-90 days.
"Let the buyer beware" was the public's image of real estate
brokers before the state set up the Florida Real Estate
, Commission. The Latin term is - CORRECT ANSWER-caveat
emptor.
The Department that enforces the law against persons who
practice a profession without having a license is the -
CORRECT ANSWER-Department of Business and
Professional Regulation (DBPR).
Which is NOT one of the divisions in the Department of
Business and Professional Regulation? - CORRECT
ANSWER-Division of Internet Operations
The license of a veteran sales associate expired March 31 last
year. This year in June, she wants to renew her license. She
must pay a late fee, pay the renewal fee, and complete a -
CORRECT ANSWER-28-hour reactivation education course.
With respect to regulation, the legislative intent is that -
CORRECT ANSWER-professions can be regulated only to
preserve the health, safety, and welfare of the public.
In which case can an inactive sales associate receive a
commission? - CORRECT ANSWER-In no case
Funds collected by the Real Estate Commission may be used -
CORRECT ANSWER-for real estate regulation.
The license renewal dates are on - CORRECT ANSWER-
March 31 or September 30.
A licensee in good standing who is a member of the Armed
Forces is exempt from renewing the license as long as he or
she is a member of the Armed Forces on active duty and for a
period of - CORRECT ANSWER-2 years after discharge.
