45 HOUR POST LICENSING EXAM QUESTIONS &
ANSWERS
A married couple have prequalified for a $240,000 conventional mortgage. If they put
20% down, they can buy a house for - Answers :$300,000
What facts need not be disclosed in a real estate transaction? - Answers :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? - Answers :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? - Answers :$100,534
Filing a suit to quiet title is used when - Answers :a title defect is found, which is difficult
to remove by ordinary means.
What are the three keys to prospecting success? - Answers :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 - Answers
:paraphrasing.
Which party may pay a licensed personal assistant for selling activities? - Answers :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 - Answers :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 - Answers :a residential sale.
Sometimes when a buyer is not quite ready and wants to think about it a while longer,
the salesperson should - Answers :ask permission to prepare the paperwork as if they
were buying, then go over it.
An exclusive agency listing is used when - Answers :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, - Answers :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 - Answers :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 -
Answers :contribution.
When should the price be covered when presenting an offer? - Answers :Last
At what rate do taxpayers pay for short-term capital gains? - Answers :The investor's
ordinary income tax rate
A buyer can save money by making at least a 20% down payment because - Answers
:the buyer won't have to pay for mortgage insurance.
The total room count in a house would include - Answers :bedrooms.
The four basic loan processing procedures are - Answers :checking the borrower's
ability to repay, appraising collateral's property value, preparing loan documents, and
checking the title of the collateral.
The three types of operating expenses of an income property are - Answers :reserves
for replacements, fixed, and variable.
Which emails are illegal under the CAN-SPAM Act? - Answers :Misleading from and to
information in the email
A home is being appraised for a mortgage loan. One of the comparable properties is
smaller than the subject property, and the appraiser estimates the difference to be
$7,800. The appraiser will make - Answers :a plus $7,800 adjustment to the
comparable.
Which purchase and sale agreement item supersedes the other? - Answers
:Handwritten clause supersedes the printed clause
Which listings may be entered into the MLS? - Answers :Exclusive agency listings and
exclusive right-of-sale listings
Florida law requires brokers to - Answers :give sellers the copies of written listing
agreements within 24 hours.
ANSWERS
A married couple have prequalified for a $240,000 conventional mortgage. If they put
20% down, they can buy a house for - Answers :$300,000
What facts need not be disclosed in a real estate transaction? - Answers :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? - Answers :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? - Answers :$100,534
Filing a suit to quiet title is used when - Answers :a title defect is found, which is difficult
to remove by ordinary means.
What are the three keys to prospecting success? - Answers :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 - Answers
:paraphrasing.
Which party may pay a licensed personal assistant for selling activities? - Answers :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 - Answers :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 - Answers :a residential sale.
Sometimes when a buyer is not quite ready and wants to think about it a while longer,
the salesperson should - Answers :ask permission to prepare the paperwork as if they
were buying, then go over it.
An exclusive agency listing is used when - Answers :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, - Answers :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 - Answers :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 -
Answers :contribution.
When should the price be covered when presenting an offer? - Answers :Last
At what rate do taxpayers pay for short-term capital gains? - Answers :The investor's
ordinary income tax rate
A buyer can save money by making at least a 20% down payment because - Answers
:the buyer won't have to pay for mortgage insurance.
The total room count in a house would include - Answers :bedrooms.
The four basic loan processing procedures are - Answers :checking the borrower's
ability to repay, appraising collateral's property value, preparing loan documents, and
checking the title of the collateral.
The three types of operating expenses of an income property are - Answers :reserves
for replacements, fixed, and variable.
Which emails are illegal under the CAN-SPAM Act? - Answers :Misleading from and to
information in the email
A home is being appraised for a mortgage loan. One of the comparable properties is
smaller than the subject property, and the appraiser estimates the difference to be
$7,800. The appraiser will make - Answers :a plus $7,800 adjustment to the
comparable.
Which purchase and sale agreement item supersedes the other? - Answers
:Handwritten clause supersedes the printed clause
Which listings may be entered into the MLS? - Answers :Exclusive agency listings and
exclusive right-of-sale listings
Florida law requires brokers to - Answers :give sellers the copies of written listing
agreements within 24 hours.
