Florida Real Estate Exam
_______ __ _______applies when a higher-priced property is constructed in an area of
lower-priced properties. the higher priced property will REGRESS in value toward the level of
less expensive properties in the area. - ANS-Principle of regression
\________ ________ education must be completed during the initial sales associates's license
period. - ANS-Post Licensing
\________ expenses do not change w/ occupancy levels, examples property taxes and hazard
insurance. - ANS-Fixed
\_________ clause is used in mortgages on income-producing real estate. - ANS-Receivership
\_________ has been defined to include anything or any service of Value paid, received or
expected to be paid or received. - ANS-Compensation
\__________ clause allows the lender to Foreclose on you bc you haven't been making your
payments. - ANS-Acceleration
\__________ clause, A.K.A. due-on-sale clause, prevents a borrower from transferring any
interest in the mortgaged property w/o permission of the lender. - ANS-Alienation
\__________ rights allow a property owner whose property borders on a river or steam the use
of the water - ANS-Riparian
\____________ of ___________ provides time limits within which parties are allowed to bring
legal action to enforse their rights under a contract. - ANS-Statue of Limitations
\$104,250 is the max amount of a verteran's entitlement of a VA guaranteed loan, and ____
days are required to be a Veteran. - ANS-181 peacetime
90 military conflict
\2 ways to Own - ANS-1. fee simple (absolute)
2. Life estate (owned in lifetime)
\3 Components of Real Estate - ANS-1. Air
2. Surface
3. Subsurface
\A ______ _______ _ _ _ _ _ _ is defined as a contract that is wholly written and under seal (in
writing and signed. - ANS-formal contract
\A 5-year lease of a 10,000 sq ft warehouse prohibits assignment. After 2 yrs the tenant is
unable to continue w/ the full rent payments and arranges w/ another tenant to take over
one-half of the space and one-half of the rent for the remaining term. This arrangement is
a. a violation of the terms of the lease
b. a sublease
c. in violation of Statute 83
d. illegal - ANS-b. a sublease
\A blanket Mortgage that allows for the release of a single parcel upon payment of a specified
sum contains which clause?
a. defeasance
, b. acceleration
c. satisfaction
d. release - ANS-d. release
\A Broker
a. can refuse offers on behalf of the principal
b. can buy the listed property w/o consent of the principal
c. must follow all legal instructions of the principal or withdrawl
d. must ignore the instructions of a principal when the instructions are not in the best interests of
the principal. - ANS-c. must follow all legal instructions of the principal or withdrawl
\A contractor is employed by an owner of land to build on that land to the owner's specifications
- ANS-Custom Building
\A developer contracts to build a home on a buyer's lot to the buyer's specifications. This is an
example of which type of building:
a. tract
b. custom
c. speculative
d. subdivision - ANS-b. custom
\A developer that acquires a large that aquires a large tract of land and builds a model center
from which sales may be made - ANS-tract building
\A fence built over your property is - ANS-encroachment
\A Florida Real Estate lisence is required when anyone performs a service is specified under
F.S. 475 when all the following conditions are simultaneously present, unless that individual is
otherwise exempt under the law: - ANS-1. Preforming a service of real estate
2. In the state of Florida
3. For another
4. For compensation
\A Georgia Auctioneer was asked by a local real estate broker to auction a small motel in
Jacksonville. The auction did not result in a sale. The Florida broker paid the auctioneer for
out-of-pocket expenses, but did not pay a commission. It would be correct to say that the:
a. Georgia Autioneer violated the license law
b. Florida Broker did not violate the license law
c. Florida broker is not subject to discipline by the Florida real estate commision
d. tranaction is perfectly within the license law - ANS-a. Georgia Autioneer violated the license
law
\A licensee assigned by a broker to act as a single agent of a buyer or seller in a nonresidential
transaction is titled a ________ _________ ________. - ANS-Designated Sales Associate
\A licensee should advise a customer to obtain an_______ or an _______ _______ _______
from an attorney whenever a question of title arises. - ANS-Abstract,
Attorney's title opinion
\A licensee that fails to renew when required to do so will have his or her license placed on
_______ ________ - ANS-involuntary Inactive
_______ __ _______applies when a higher-priced property is constructed in an area of
lower-priced properties. the higher priced property will REGRESS in value toward the level of
less expensive properties in the area. - ANS-Principle of regression
\________ ________ education must be completed during the initial sales associates's license
period. - ANS-Post Licensing
\________ expenses do not change w/ occupancy levels, examples property taxes and hazard
insurance. - ANS-Fixed
\_________ clause is used in mortgages on income-producing real estate. - ANS-Receivership
\_________ has been defined to include anything or any service of Value paid, received or
expected to be paid or received. - ANS-Compensation
\__________ clause allows the lender to Foreclose on you bc you haven't been making your
payments. - ANS-Acceleration
\__________ clause, A.K.A. due-on-sale clause, prevents a borrower from transferring any
interest in the mortgaged property w/o permission of the lender. - ANS-Alienation
\__________ rights allow a property owner whose property borders on a river or steam the use
of the water - ANS-Riparian
\____________ of ___________ provides time limits within which parties are allowed to bring
legal action to enforse their rights under a contract. - ANS-Statue of Limitations
\$104,250 is the max amount of a verteran's entitlement of a VA guaranteed loan, and ____
days are required to be a Veteran. - ANS-181 peacetime
90 military conflict
\2 ways to Own - ANS-1. fee simple (absolute)
2. Life estate (owned in lifetime)
\3 Components of Real Estate - ANS-1. Air
2. Surface
3. Subsurface
\A ______ _______ _ _ _ _ _ _ is defined as a contract that is wholly written and under seal (in
writing and signed. - ANS-formal contract
\A 5-year lease of a 10,000 sq ft warehouse prohibits assignment. After 2 yrs the tenant is
unable to continue w/ the full rent payments and arranges w/ another tenant to take over
one-half of the space and one-half of the rent for the remaining term. This arrangement is
a. a violation of the terms of the lease
b. a sublease
c. in violation of Statute 83
d. illegal - ANS-b. a sublease
\A blanket Mortgage that allows for the release of a single parcel upon payment of a specified
sum contains which clause?
a. defeasance
, b. acceleration
c. satisfaction
d. release - ANS-d. release
\A Broker
a. can refuse offers on behalf of the principal
b. can buy the listed property w/o consent of the principal
c. must follow all legal instructions of the principal or withdrawl
d. must ignore the instructions of a principal when the instructions are not in the best interests of
the principal. - ANS-c. must follow all legal instructions of the principal or withdrawl
\A contractor is employed by an owner of land to build on that land to the owner's specifications
- ANS-Custom Building
\A developer contracts to build a home on a buyer's lot to the buyer's specifications. This is an
example of which type of building:
a. tract
b. custom
c. speculative
d. subdivision - ANS-b. custom
\A developer that acquires a large that aquires a large tract of land and builds a model center
from which sales may be made - ANS-tract building
\A fence built over your property is - ANS-encroachment
\A Florida Real Estate lisence is required when anyone performs a service is specified under
F.S. 475 when all the following conditions are simultaneously present, unless that individual is
otherwise exempt under the law: - ANS-1. Preforming a service of real estate
2. In the state of Florida
3. For another
4. For compensation
\A Georgia Auctioneer was asked by a local real estate broker to auction a small motel in
Jacksonville. The auction did not result in a sale. The Florida broker paid the auctioneer for
out-of-pocket expenses, but did not pay a commission. It would be correct to say that the:
a. Georgia Autioneer violated the license law
b. Florida Broker did not violate the license law
c. Florida broker is not subject to discipline by the Florida real estate commision
d. tranaction is perfectly within the license law - ANS-a. Georgia Autioneer violated the license
law
\A licensee assigned by a broker to act as a single agent of a buyer or seller in a nonresidential
transaction is titled a ________ _________ ________. - ANS-Designated Sales Associate
\A licensee should advise a customer to obtain an_______ or an _______ _______ _______
from an attorney whenever a question of title arises. - ANS-Abstract,
Attorney's title opinion
\A licensee that fails to renew when required to do so will have his or her license placed on
_______ ________ - ANS-involuntary Inactive
