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AURE TIDE REALTY END OF COURSE PRACTICE
EXAM|| ACTUAL EXAM ALL QUESTIONS AND
CORRECT ANSWERS ALREADY GRADED A+||
LATEST AND COMPLETE VERSION 2024-2025
WITH VERIFIED SOLUTIONS|| ASSURED PASS!!!
A Florida real estate sales associate who moves and becomes a nonresident of
Florida must notify the Commission of the change of residency within how many
days? - ANSWER: 60
In case of breach by the buyer, most real estate contracts include a provision that
the earnest money be regarded as - ANSWER: Liquidated damages to the seller
Subordination of a mortgage is: - ANSWER: A later mortgage taking priority to
the original
Buffer Zone is an area of land that: - ANSWER: Separates different land use areas
Which matches the definition of a gross lease? - ANSWER: When the tenant pays
a fixed rent and the landlord pays the property expenses such as taxes and
insurance. Utilities are paid as agreed in the lease.
Clark paid $250 for a rental list in a competitive area. After several days of looking
for properties he realized that the list wasn't current at the time it was sold to him.
He requested a refund in writing. How much would he get back? - ANSWER:
$250.00
An appraiser found three comparable properties however she believed that one of
the properties was significantly more relevant to the true value of the subject
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property. In this case, the appraiser would most likely - ANSWER: Assign
weighted values to each of the three properties
A due on sale clause in a mortgage - ANSWER: Makes a mortgage non-
assumable
An active Florida broker accompanies her husband when he goes on active military
duty in Ohio for five years. She is not active in real estate in Ohio. Upon their
return to Florida, she: - ANSWER: Need not complete any continuing education
or reactivation education for those five years and for up to 2 years after honorable
discharge
A home was purchased with a down payment of $36, 000 and a loan of $200,000
at 6.5% for 30 years. Monthly payments are $1,264.14. What is the loan to value
ratio? - ANSWER: 85%
An owner of an apartment complex pays a previous tenant a $50 finder's fee for
referring a person who becomes a new tenant. This arrangement is not -
ANSWER: Legal unless the previous tenant has a real estate license.
An assumed mortgage has interest paid: - ANSWER: In arrears
When is a quitclaim deed normally used? - ANSWER: To clear the title of
possible trouble spots or clouds on the deed.
Which statement is TRUE regarding homeowners association disclosure
requirements?
1) The contract is not voidable even if the disclosure summary is not provided to
the buyer before executing the contract
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2) The buyer cannot waive the right to void the contract if the disclosure has not
been provided at the time of or before signing the purchase agreement
3) The buyer is advised to execute the contract without receiving HOA disclosures
4) If the buyer decides to walk away from the contract, he can do so verbally -
ANSWER: The buyer cannot waive the right to void the contract if the disclosure
has not been provided at the time of or before signing the purchase agreement
Denying loans, insurance coverage, or to refuse to rent or sell in an area based on
the racial and ethnic makeup is illegal under the Fair Housing Act and is called -
ANSWER: Redlining
Geraldo contracted with Sue for Sue to buy his property. When Geraldo backed out
of the contract refusing to sell it to her for no valid reason, Sue took Geraldo to
court. The judge ruled in Sue's favor. Sue's contract was - ANSWER: Enforceable
A real estate broker is typically authorized by a principal to help in the sale of a
house by acting as a - ANSWER: Special agent
The premises section of a deed must contain all of the following except -
ANSWER: Name of the lawyer giving an opinion of title
What is a Lender's yield on a conventional loan if they charged 5% interest and 3
points? - ANSWER: 5.38%
What statement is FALSE regarding the Equal Credit Opportunity Act?
AURE TIDE REALTY END OF COURSE PRACTICE
EXAM|| ACTUAL EXAM ALL QUESTIONS AND
CORRECT ANSWERS ALREADY GRADED A+||
LATEST AND COMPLETE VERSION 2024-2025
WITH VERIFIED SOLUTIONS|| ASSURED PASS!!!
A Florida real estate sales associate who moves and becomes a nonresident of
Florida must notify the Commission of the change of residency within how many
days? - ANSWER: 60
In case of breach by the buyer, most real estate contracts include a provision that
the earnest money be regarded as - ANSWER: Liquidated damages to the seller
Subordination of a mortgage is: - ANSWER: A later mortgage taking priority to
the original
Buffer Zone is an area of land that: - ANSWER: Separates different land use areas
Which matches the definition of a gross lease? - ANSWER: When the tenant pays
a fixed rent and the landlord pays the property expenses such as taxes and
insurance. Utilities are paid as agreed in the lease.
Clark paid $250 for a rental list in a competitive area. After several days of looking
for properties he realized that the list wasn't current at the time it was sold to him.
He requested a refund in writing. How much would he get back? - ANSWER:
$250.00
An appraiser found three comparable properties however she believed that one of
the properties was significantly more relevant to the true value of the subject
,2|Pag e
property. In this case, the appraiser would most likely - ANSWER: Assign
weighted values to each of the three properties
A due on sale clause in a mortgage - ANSWER: Makes a mortgage non-
assumable
An active Florida broker accompanies her husband when he goes on active military
duty in Ohio for five years. She is not active in real estate in Ohio. Upon their
return to Florida, she: - ANSWER: Need not complete any continuing education
or reactivation education for those five years and for up to 2 years after honorable
discharge
A home was purchased with a down payment of $36, 000 and a loan of $200,000
at 6.5% for 30 years. Monthly payments are $1,264.14. What is the loan to value
ratio? - ANSWER: 85%
An owner of an apartment complex pays a previous tenant a $50 finder's fee for
referring a person who becomes a new tenant. This arrangement is not -
ANSWER: Legal unless the previous tenant has a real estate license.
An assumed mortgage has interest paid: - ANSWER: In arrears
When is a quitclaim deed normally used? - ANSWER: To clear the title of
possible trouble spots or clouds on the deed.
Which statement is TRUE regarding homeowners association disclosure
requirements?
1) The contract is not voidable even if the disclosure summary is not provided to
the buyer before executing the contract
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2) The buyer cannot waive the right to void the contract if the disclosure has not
been provided at the time of or before signing the purchase agreement
3) The buyer is advised to execute the contract without receiving HOA disclosures
4) If the buyer decides to walk away from the contract, he can do so verbally -
ANSWER: The buyer cannot waive the right to void the contract if the disclosure
has not been provided at the time of or before signing the purchase agreement
Denying loans, insurance coverage, or to refuse to rent or sell in an area based on
the racial and ethnic makeup is illegal under the Fair Housing Act and is called -
ANSWER: Redlining
Geraldo contracted with Sue for Sue to buy his property. When Geraldo backed out
of the contract refusing to sell it to her for no valid reason, Sue took Geraldo to
court. The judge ruled in Sue's favor. Sue's contract was - ANSWER: Enforceable
A real estate broker is typically authorized by a principal to help in the sale of a
house by acting as a - ANSWER: Special agent
The premises section of a deed must contain all of the following except -
ANSWER: Name of the lawyer giving an opinion of title
What is a Lender's yield on a conventional loan if they charged 5% interest and 3
points? - ANSWER: 5.38%
What statement is FALSE regarding the Equal Credit Opportunity Act?
