45 Hour Post License Florida Actual Verified Practice Q-Bank Questions With Correct Detailed Answers A+ Already Passed / Newest Update
45 Hour Post License Florida / Actual Verified
Practice Q-Bank Questions With Correct
Detailed Answers A+ Already Passed /
Newest Update
Terms In This Set (140)
Farming - ANSWER ✔ - Concentrating on one type of style of property or on one particular neighborhood
A residential transaction is defined in F.S. 475 as the sale of any: - ANSWER ✔ - - Duplex
- improved residential property of four units or fewer, including condominium units
-unimproved property intended for four units or fewer
- Agricultural properties of ten acres or less
- Leases with options to purchase all or a portion of improved property of four or fewer residential units
- Dispositions of business interests for property of four or fewer residential units
Absentee owners - ANSWER ✔ - owners who buy income property as investments and depend on
professionals to manage them
All appraisals, whether performed by a licensed appraiser or a real estate licensee, must be developed and
reported in conformity with the - ANSWER ✔ - Uniform Standards of Professional Appraisal Practice
(USPAP)
,45 Hour Post License Florida Actual Verified Practice Q-Bank Questions With Correct Detailed Answers A+ Already Passed / Newest Update
The largest and most prestigious real estate organization in the world is ________. They work for legislation
enforce professional standards of conduct through its ________. - ANSWER ✔ - 1. The National Association
of Realtors (NAR)
2. Code of Ethics
The largest trade association in the state is _________ - ANSWER ✔ - The Florida Association of Realtors (FAR)
The duties required by the Code of Ethics are: - ANSWER ✔ - 1. Duties to clients and customers
2. Duties to the public in general
3. Duties to other real estate licensees
Required Skills for the Real estate professional are: - ANSWER ✔ - 1. Valuation - Must be able to discern
important differences between properties and know how to translate those differences into value. Must be
able to conduct a CMA.
2. Marketing - must have an understanding of the tools and technologies available to market a property.
3. Property Transfer - understand how to close a transaction
Mission Statement - ANSWER ✔ - description of a desired outcome that excites, motivates, and helps you
to create a mental picture of your business goal.
Industrial Sales or Leasing - ANSWER ✔ - include warehouses and manufacturing facilities. Industrial sales
and leasing generally involve user/owners, rather than investors.
The law that specifically regulates real estate licensees, schools, and appraisers is _________ - ANSWER ✔ -
F.S. 475
, 45 Hour Post License Florida Actual Verified Practice Q-Bank Questions With Correct Detailed Answers A+ Already Passed / Newest Update
The Range Of Penalties for disobeying FS 475 or 455 from lowest to highest is: - ANSWER ✔ - Reprimand,
fine, probation, suspension, and revocation or denial.
Which is the maximum penalty for disobeying laws under FS 455 or FS 475 - ANSWER ✔ - Revocation or
denial of license
If the licensee does not complete the 45 hour course before the expiration date of their first renewal, the
license becomes ____ - ANSWER ✔ - void and the licensee will be out of business. (Have to start over
everything)
When a sales associate changes employers, they must notify the Commission of the change no later than
________ days after the change by using the form provided by the commission. - ANSWER ✔ - 10
Advertisements may not be - ANSWER ✔ - fraudulent, false, deceptive, or misleading.
Advertising false, inaccurate, misleading or exaggerated information could result in ____________ - ANSWER
✔ - the issuance of a citation and a fine of $500
A sales associate who receives a deposit must deliver it to the broker or employer no later than - ANSWER
✔ - the end of the business day following the receipt of the item to be deposited
A sales associate may not collect money in connection with a real estate transaction except - ANSWER ✔ -
in the name of the employer (cannot be payed by buyer or seller)
A sales associate receives compensation only from his or her ______. A sales associate can however be paid
a portion of a commission by a closing agent if such instructions have been provided in writing by the _____.
- ANSWER ✔ - 1. Broker
45 Hour Post License Florida / Actual Verified
Practice Q-Bank Questions With Correct
Detailed Answers A+ Already Passed /
Newest Update
Terms In This Set (140)
Farming - ANSWER ✔ - Concentrating on one type of style of property or on one particular neighborhood
A residential transaction is defined in F.S. 475 as the sale of any: - ANSWER ✔ - - Duplex
- improved residential property of four units or fewer, including condominium units
-unimproved property intended for four units or fewer
- Agricultural properties of ten acres or less
- Leases with options to purchase all or a portion of improved property of four or fewer residential units
- Dispositions of business interests for property of four or fewer residential units
Absentee owners - ANSWER ✔ - owners who buy income property as investments and depend on
professionals to manage them
All appraisals, whether performed by a licensed appraiser or a real estate licensee, must be developed and
reported in conformity with the - ANSWER ✔ - Uniform Standards of Professional Appraisal Practice
(USPAP)
,45 Hour Post License Florida Actual Verified Practice Q-Bank Questions With Correct Detailed Answers A+ Already Passed / Newest Update
The largest and most prestigious real estate organization in the world is ________. They work for legislation
enforce professional standards of conduct through its ________. - ANSWER ✔ - 1. The National Association
of Realtors (NAR)
2. Code of Ethics
The largest trade association in the state is _________ - ANSWER ✔ - The Florida Association of Realtors (FAR)
The duties required by the Code of Ethics are: - ANSWER ✔ - 1. Duties to clients and customers
2. Duties to the public in general
3. Duties to other real estate licensees
Required Skills for the Real estate professional are: - ANSWER ✔ - 1. Valuation - Must be able to discern
important differences between properties and know how to translate those differences into value. Must be
able to conduct a CMA.
2. Marketing - must have an understanding of the tools and technologies available to market a property.
3. Property Transfer - understand how to close a transaction
Mission Statement - ANSWER ✔ - description of a desired outcome that excites, motivates, and helps you
to create a mental picture of your business goal.
Industrial Sales or Leasing - ANSWER ✔ - include warehouses and manufacturing facilities. Industrial sales
and leasing generally involve user/owners, rather than investors.
The law that specifically regulates real estate licensees, schools, and appraisers is _________ - ANSWER ✔ -
F.S. 475
, 45 Hour Post License Florida Actual Verified Practice Q-Bank Questions With Correct Detailed Answers A+ Already Passed / Newest Update
The Range Of Penalties for disobeying FS 475 or 455 from lowest to highest is: - ANSWER ✔ - Reprimand,
fine, probation, suspension, and revocation or denial.
Which is the maximum penalty for disobeying laws under FS 455 or FS 475 - ANSWER ✔ - Revocation or
denial of license
If the licensee does not complete the 45 hour course before the expiration date of their first renewal, the
license becomes ____ - ANSWER ✔ - void and the licensee will be out of business. (Have to start over
everything)
When a sales associate changes employers, they must notify the Commission of the change no later than
________ days after the change by using the form provided by the commission. - ANSWER ✔ - 10
Advertisements may not be - ANSWER ✔ - fraudulent, false, deceptive, or misleading.
Advertising false, inaccurate, misleading or exaggerated information could result in ____________ - ANSWER
✔ - the issuance of a citation and a fine of $500
A sales associate who receives a deposit must deliver it to the broker or employer no later than - ANSWER
✔ - the end of the business day following the receipt of the item to be deposited
A sales associate may not collect money in connection with a real estate transaction except - ANSWER ✔ -
in the name of the employer (cannot be payed by buyer or seller)
A sales associate receives compensation only from his or her ______. A sales associate can however be paid
a portion of a commission by a closing agent if such instructions have been provided in writing by the _____.
- ANSWER ✔ - 1. Broker
