45 HOUR POST LICENSE FLORIDA EXAM 3 LATEST
VERSIONS 2024 (VERSION A, B AND C) COMPLETE 300
QUESTIONS ND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) |ALREADY GRADED A
A married couple have prequalified for a $240,000 conventional mortgage. If they
put 20% down, they can buy a house for - ANSWER: $300,000
What facts need not be disclosed in a real estate transaction? - ANSWER: The
property was the site of a homicide.
What is a good graphic to show a seller that there will be more activity if the
property is competitively priced? - ANSWER: The pricing pyramid
A home sells for $310,500. Expenses of the sale are $4,800. The brokerage fee is
$18,630. Prorations for taxes and interest are $5,036. The mortgage payoff is
$181,500. What are the seller's proceeds from the sale? - ANSWER: $100,534
Filing a suit to quiet title is used when - ANSWER: a title defect is found, which is
difficult to remove by ordinary means.
What are the benefits of restrictive covenants? - ANSWER: Maintain and enhance
value
What's the downside for a principal who has a single agent? - ANSWER: Responsible
for the single agent's acts
What is the likely cause of a contract for sale of real estate being ruled as
unenforceable? - ANSWER: Unwritten agreement
Aside from a property's location, what is the most important factor that influences
market value? - ANSWER: Highest and best use
The margin is - ANSWER: the percentage added to the index of an adjustable-rate
mortgage that results in the calculated rate.
A home sells for $370,000. The mortgage payoff is $262,500. What is the seller's
equity? - ANSWER: $107,500
How often do mortgage loan originators need to have a criminal background check?
- ANSWER: Every year
A written listing agreement with a self-renewing clause - ANSWER: is void.
, When you explain the pricing process during a listing presentation, you would NOT
ordinarily discuss - ANSWER: the process of closing a sale.
What are the three keys to prospecting success? - ANSWER: Organization, numbers,
and consistency
A sales associate, to test his understanding of what the customer has said, uses
words that are similar, but not exactly the same as the customer's. This is called -
ANSWER: paraphrasing.
Which party may pay a licensed personal assistant for selling activities? - ANSWER: It
is not legal to pay a personal assistant—whether licensed or unlicensed—a portion
of a real estate commission.
In a relatively new neighborhood with 524 homes, 72 houses were sold. The
turnover index in this neighborhood is - ANSWER: 13.7% // 7%. 72 houses sold ÷ 524
total homes = .137 or 13.7%
The Florida Realtors®/Florida Bar Residential Contract for Sale and Purchase is best
for - ANSWER: a residential sale.
Sometimes when a buyer is not quite ready and wants to think about it a while
longer, the salesperson should - ANSWER: ask permission to prepare the paperwork
as if they were buying, then go over it.
An exclusive agency listing is used when - ANSWER: an owner lists with a broker on
the basis that if the property is sold by a broker, the broker is entitled to a
commission, but if the owner sells his own property, he owes no commission.
If a selling sales associate attempts to present an offer without the listing agent
being present, - ANSWER: it would likely alienate the seller because the seller has
more trust in the listing sales associate.
A single agent broker must give a brokerage relationship disclosure when a
transaction is - ANSWER: the sale of a duplex.
A woman had a fourth bedroom built onto her house last year that cost $75,000. A
recent appraisal valued the bedroom at $52,000. This demonstrates the principle of -
ANSWER: contribution.
When should the price be covered when presenting an offer? - ANSWER: Last
At what rate do taxpayers pay for short-term capital gains? - ANSWER: The investor's
ordinary income tax rate
A buyer can save money by making at least a 20% down payment because -
ANSWER: the buyer won't have to pay for mortgage insurance.
VERSIONS 2024 (VERSION A, B AND C) COMPLETE 300
QUESTIONS ND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) |ALREADY GRADED A
A married couple have prequalified for a $240,000 conventional mortgage. If they
put 20% down, they can buy a house for - ANSWER: $300,000
What facts need not be disclosed in a real estate transaction? - ANSWER: The
property was the site of a homicide.
What is a good graphic to show a seller that there will be more activity if the
property is competitively priced? - ANSWER: The pricing pyramid
A home sells for $310,500. Expenses of the sale are $4,800. The brokerage fee is
$18,630. Prorations for taxes and interest are $5,036. The mortgage payoff is
$181,500. What are the seller's proceeds from the sale? - ANSWER: $100,534
Filing a suit to quiet title is used when - ANSWER: a title defect is found, which is
difficult to remove by ordinary means.
What are the benefits of restrictive covenants? - ANSWER: Maintain and enhance
value
What's the downside for a principal who has a single agent? - ANSWER: Responsible
for the single agent's acts
What is the likely cause of a contract for sale of real estate being ruled as
unenforceable? - ANSWER: Unwritten agreement
Aside from a property's location, what is the most important factor that influences
market value? - ANSWER: Highest and best use
The margin is - ANSWER: the percentage added to the index of an adjustable-rate
mortgage that results in the calculated rate.
A home sells for $370,000. The mortgage payoff is $262,500. What is the seller's
equity? - ANSWER: $107,500
How often do mortgage loan originators need to have a criminal background check?
- ANSWER: Every year
A written listing agreement with a self-renewing clause - ANSWER: is void.
, When you explain the pricing process during a listing presentation, you would NOT
ordinarily discuss - ANSWER: the process of closing a sale.
What are the three keys to prospecting success? - ANSWER: Organization, numbers,
and consistency
A sales associate, to test his understanding of what the customer has said, uses
words that are similar, but not exactly the same as the customer's. This is called -
ANSWER: paraphrasing.
Which party may pay a licensed personal assistant for selling activities? - ANSWER: It
is not legal to pay a personal assistant—whether licensed or unlicensed—a portion
of a real estate commission.
In a relatively new neighborhood with 524 homes, 72 houses were sold. The
turnover index in this neighborhood is - ANSWER: 13.7% // 7%. 72 houses sold ÷ 524
total homes = .137 or 13.7%
The Florida Realtors®/Florida Bar Residential Contract for Sale and Purchase is best
for - ANSWER: a residential sale.
Sometimes when a buyer is not quite ready and wants to think about it a while
longer, the salesperson should - ANSWER: ask permission to prepare the paperwork
as if they were buying, then go over it.
An exclusive agency listing is used when - ANSWER: an owner lists with a broker on
the basis that if the property is sold by a broker, the broker is entitled to a
commission, but if the owner sells his own property, he owes no commission.
If a selling sales associate attempts to present an offer without the listing agent
being present, - ANSWER: it would likely alienate the seller because the seller has
more trust in the listing sales associate.
A single agent broker must give a brokerage relationship disclosure when a
transaction is - ANSWER: the sale of a duplex.
A woman had a fourth bedroom built onto her house last year that cost $75,000. A
recent appraisal valued the bedroom at $52,000. This demonstrates the principle of -
ANSWER: contribution.
When should the price be covered when presenting an offer? - ANSWER: Last
At what rate do taxpayers pay for short-term capital gains? - ANSWER: The investor's
ordinary income tax rate
A buyer can save money by making at least a 20% down payment because -
ANSWER: the buyer won't have to pay for mortgage insurance.
