Florida Real Estate Pre-License Final
Exam Accurate 100%
What has a large tract of land and is designated for unit development rather than for a
single use? - ANSWER Planned Unit Developments (PUD) Housing
What type of leverage occurs when the rate of return exceeds? - ANSWER Positive
Leverage
What is the APR when you have 10% Loan + 6 points? - ANSWER APR = 10.75%
(Remember Divide 6 by 8 years which gives you .75)
Somebody that owns a property until they die is what type of ownership? - ANSWER
Life Estate
The grantor of the life estate may wish to have the property ownership returned to him
or her or to his or her heirs. What's the right to regain this ownership called? - ANSWER
Reversion
Doc stamps on Deeds is calculated at the rate of what value OR what part? - ANSWER
Rate of $.70 per $100 of Value, or Fractional Part thereof (oft)
(*Question read something that can't change location...) - ANSWER Branch Location
Bob calls his friend who is a realtor and tells him his sister is looking to buy a house. His
friend ends up closing a deal of his sister. What should Bob's friend do after he has
received his commission?
A. Take him out to dinner
B. Pay him a Referral Fee
C. Give a gift certificate
D. Write him a Thank You card - ANSWER D. Thank You Card
Florida does not reciprocate with other states, but does have some states that have
educational requirements that are similar. What is this called? - ANSWER Mutual
Recognition
What establishes the standards under which buildings must be designed and
constructed?
A. Zoning Laws.
B. Building Codes
C. Exclusionary Zoning
D. Variance - ANSWER B. Building Codes
, Operation expenses and the effective gross income give you what? - ANSWER
Operating Expense Ratio
Windows that are not energy efficient and are not often used in today's new construction
are called what? - ANSWER Jalousie Windows
What act is required that lenders cannot discriminate against borrowers on the basis of
age? - ANSWER Equal Opportunity Credit Act
What is the tendency for a lease? Indefinitely or Definitely? - ANSWER Definitely
If a sale associate is advertising what MUST be on his advertisement? - ANSWER
Broker's Registered Name
If a customer sends in a full price offer and the realtor doesn't like you and pays you no
mind. What should the customer do? (This question I kind didn't really hear properly but
the answer is correct it just may not be connected to how I worded this question) -
ANSWER Sue Him!
What type of deed is rarely used in day to day sales and transfers of ownership? -
ANSWER Quitclaim Deed
What is an increase in land area as moving water deposits soil in other than its ordinal
location; the opposite of erosion? - ANSWER Accretion
What refers to the loss of soil that is carried away by water washing against a riverbank
or a beach? - ANSWER Erosion
If a sale associate doesn't disclose information to a party that is material to his or
decision what is this considered? - ANSWER Concealment (Knowing something but not
saying it)
What is the role of a transaction broker? - ANSWER To provide limited representation to
a buyer, a seller or both in a real estate transaction.
Which from the following is an example of Basic industries or business / export?
A. Florist Shop
B. Ice Cream Shop
C. Large Tourist Attractions - ANSWER C. Large Tourist Attractions
What is the real estate tax levy of 10 mills? - ANSWER 0.010
What is it called when an appraiser estimates the percentage of the total life lost or used
up by depreciation? - ANSWER Effective Age (not chronological)
Exam Accurate 100%
What has a large tract of land and is designated for unit development rather than for a
single use? - ANSWER Planned Unit Developments (PUD) Housing
What type of leverage occurs when the rate of return exceeds? - ANSWER Positive
Leverage
What is the APR when you have 10% Loan + 6 points? - ANSWER APR = 10.75%
(Remember Divide 6 by 8 years which gives you .75)
Somebody that owns a property until they die is what type of ownership? - ANSWER
Life Estate
The grantor of the life estate may wish to have the property ownership returned to him
or her or to his or her heirs. What's the right to regain this ownership called? - ANSWER
Reversion
Doc stamps on Deeds is calculated at the rate of what value OR what part? - ANSWER
Rate of $.70 per $100 of Value, or Fractional Part thereof (oft)
(*Question read something that can't change location...) - ANSWER Branch Location
Bob calls his friend who is a realtor and tells him his sister is looking to buy a house. His
friend ends up closing a deal of his sister. What should Bob's friend do after he has
received his commission?
A. Take him out to dinner
B. Pay him a Referral Fee
C. Give a gift certificate
D. Write him a Thank You card - ANSWER D. Thank You Card
Florida does not reciprocate with other states, but does have some states that have
educational requirements that are similar. What is this called? - ANSWER Mutual
Recognition
What establishes the standards under which buildings must be designed and
constructed?
A. Zoning Laws.
B. Building Codes
C. Exclusionary Zoning
D. Variance - ANSWER B. Building Codes
, Operation expenses and the effective gross income give you what? - ANSWER
Operating Expense Ratio
Windows that are not energy efficient and are not often used in today's new construction
are called what? - ANSWER Jalousie Windows
What act is required that lenders cannot discriminate against borrowers on the basis of
age? - ANSWER Equal Opportunity Credit Act
What is the tendency for a lease? Indefinitely or Definitely? - ANSWER Definitely
If a sale associate is advertising what MUST be on his advertisement? - ANSWER
Broker's Registered Name
If a customer sends in a full price offer and the realtor doesn't like you and pays you no
mind. What should the customer do? (This question I kind didn't really hear properly but
the answer is correct it just may not be connected to how I worded this question) -
ANSWER Sue Him!
What type of deed is rarely used in day to day sales and transfers of ownership? -
ANSWER Quitclaim Deed
What is an increase in land area as moving water deposits soil in other than its ordinal
location; the opposite of erosion? - ANSWER Accretion
What refers to the loss of soil that is carried away by water washing against a riverbank
or a beach? - ANSWER Erosion
If a sale associate doesn't disclose information to a party that is material to his or
decision what is this considered? - ANSWER Concealment (Knowing something but not
saying it)
What is the role of a transaction broker? - ANSWER To provide limited representation to
a buyer, a seller or both in a real estate transaction.
Which from the following is an example of Basic industries or business / export?
A. Florist Shop
B. Ice Cream Shop
C. Large Tourist Attractions - ANSWER C. Large Tourist Attractions
What is the real estate tax levy of 10 mills? - ANSWER 0.010
What is it called when an appraiser estimates the percentage of the total life lost or used
up by depreciation? - ANSWER Effective Age (not chronological)
