45 HOUR POST LICENSE FINAL EXAM
If an appraisal falls short of the needed value to close the deal, one of four outcomes
would result. Which one of the following is NOT one of those 4? - Answers :The seller
would raise the selling price in order to make up for the shortfall.
Which of the following steps would not be common to complete a mail away closing? -
Answers :the agent would sign on the absent persons behalf
Your buyers' lender tells you that your buyer will qualify for a loan up to $359,000. The
lender advised you that this was based on the house not located in a flood zone and no
more than $150 a month in HOA fees. The buyer was searching online and found a
house located in a popular neighborhood. When you pull the listing information you
discover that the house is only $336,000 but is in a Flood Zone "A" and HOA fees are
$300 a month. Which is the best course of action to take? - Answers :Contact the
buyer's lender to review the information about the property and schedule a showing to
coincide immediately after the expected response time from the lender.
Per the statute - when a condominium is sold or re-sold, specific documents must be
provided from the seller to the buyer. The seller of new condo's must provide the buyer
with 5-6 different required documents. Re-seller must provide the buyer with 7 different
required documents. Which of the following is only required on new condominium
sales? - Answers :Estimated Operating Budget
You are working with buyers, Tina and Jeff. You explain to them you will provided them
a list of up to 20 houses that most closely match their wants and needs. They need to
narrow the list down to the top 6. You tell them you will show them 6 different houses. If
they buy one of those 6 you will give them $600 out of your commission. Under RESPA
and TILA this is ___. - Answers :Okay, if handled correctly and disclosed to all parties.
Real estate agent Belle was arrested for theft while in California. Which of the following
is true regarding the situation? - Answers :Agent Belle would have up to 30 days to
report the violation to the DBPR.
A couple is in town on a "buying" trip. You pick out homes listed in the multiple listing
service based on a needs assessment and spend the weekend showing them houses.
One home is of interest to them, yet they leave town without making an offer. You agree
to send them other options by email. The next day they call and ask you to find answers
they now have regarding the home they had seen and favored. Upon contacting the
listing agent, the agent informs you that another real estate agent has contacted her for
the same buyers. However, that agent has not actually shown them the house. If the
buyers purchase the home using the other agent, what is the likely outcome? - Answers
:Your broker would pursue payment from the listing broker siting procuring cause.
, Agent Cinderella just got her real estate license but wasn't ready to start working as an
agent yet. Which of the following should she not do? - Answers :Don't worry about the
45-hour post-license course until she starts working.
Agent May wanted to become a broker-associate. Steps to do so include all of the
following except: - Answers :*1) Take a 63-hour pre-licensing sales course.*
2) Have completed 2 out of the previous 5 years as an active real estate sales associate
licensee, either within or outside of Florida.
3) Submit an application to the DBPR.
4) Pass the state broker exam.
You are doing a buyer presentation for Connie. You tell her that, "I work for one of the
largest brokerages in town. This means that I have undergone the best training possible
to make sure that I am looking out for your best interests!" This is which step in the
buyer presentation and is also considered? - Answers :Step 3; Buyer Feature Benefits
Which statement is true about prospecting for buyers? - Answers :*1) Prospecting for
buyers is easier than prospecting for sellers.*
2) Prospecting for sellers is easier than prospecting for buyers.
3) Prospecting for buyers has a much lower return on output than prospecting for
sellers.
4) Spending 85% of your time prospecting for sellers will produce at least 85% more
sellers to work with.
Which duties are all licensees bound to? - Answers :1) Loyalty
2) Limited confidentiality
3) Obedience
**4) Accounting of all funds.**
Door knocking is an example of: - Answers :lead generating
Which would you expect in a property management contract? - Answers :1) The length
of the property management contract.
2) The amount of compensation to the property manager.
3) Conditions for when compensation will be collected by the property manager.
* 4) All of the above.*
What is the formula to calculate how many leads are needed to generate clients? -
Answers :Clients Required ÷ Lead Conversion %
Stacey hired a real estate licensee to advertise a home for sale in the MLS and to
handle the contract. However, the seller planned to handle their own showings and
open houses and did not want to pay the agent for those services. Which type of listing
agreement would be appropriate? - Answers :Limited listing agreement
If an appraisal falls short of the needed value to close the deal, one of four outcomes
would result. Which one of the following is NOT one of those 4? - Answers :The seller
would raise the selling price in order to make up for the shortfall.
Which of the following steps would not be common to complete a mail away closing? -
Answers :the agent would sign on the absent persons behalf
Your buyers' lender tells you that your buyer will qualify for a loan up to $359,000. The
lender advised you that this was based on the house not located in a flood zone and no
more than $150 a month in HOA fees. The buyer was searching online and found a
house located in a popular neighborhood. When you pull the listing information you
discover that the house is only $336,000 but is in a Flood Zone "A" and HOA fees are
$300 a month. Which is the best course of action to take? - Answers :Contact the
buyer's lender to review the information about the property and schedule a showing to
coincide immediately after the expected response time from the lender.
Per the statute - when a condominium is sold or re-sold, specific documents must be
provided from the seller to the buyer. The seller of new condo's must provide the buyer
with 5-6 different required documents. Re-seller must provide the buyer with 7 different
required documents. Which of the following is only required on new condominium
sales? - Answers :Estimated Operating Budget
You are working with buyers, Tina and Jeff. You explain to them you will provided them
a list of up to 20 houses that most closely match their wants and needs. They need to
narrow the list down to the top 6. You tell them you will show them 6 different houses. If
they buy one of those 6 you will give them $600 out of your commission. Under RESPA
and TILA this is ___. - Answers :Okay, if handled correctly and disclosed to all parties.
Real estate agent Belle was arrested for theft while in California. Which of the following
is true regarding the situation? - Answers :Agent Belle would have up to 30 days to
report the violation to the DBPR.
A couple is in town on a "buying" trip. You pick out homes listed in the multiple listing
service based on a needs assessment and spend the weekend showing them houses.
One home is of interest to them, yet they leave town without making an offer. You agree
to send them other options by email. The next day they call and ask you to find answers
they now have regarding the home they had seen and favored. Upon contacting the
listing agent, the agent informs you that another real estate agent has contacted her for
the same buyers. However, that agent has not actually shown them the house. If the
buyers purchase the home using the other agent, what is the likely outcome? - Answers
:Your broker would pursue payment from the listing broker siting procuring cause.
, Agent Cinderella just got her real estate license but wasn't ready to start working as an
agent yet. Which of the following should she not do? - Answers :Don't worry about the
45-hour post-license course until she starts working.
Agent May wanted to become a broker-associate. Steps to do so include all of the
following except: - Answers :*1) Take a 63-hour pre-licensing sales course.*
2) Have completed 2 out of the previous 5 years as an active real estate sales associate
licensee, either within or outside of Florida.
3) Submit an application to the DBPR.
4) Pass the state broker exam.
You are doing a buyer presentation for Connie. You tell her that, "I work for one of the
largest brokerages in town. This means that I have undergone the best training possible
to make sure that I am looking out for your best interests!" This is which step in the
buyer presentation and is also considered? - Answers :Step 3; Buyer Feature Benefits
Which statement is true about prospecting for buyers? - Answers :*1) Prospecting for
buyers is easier than prospecting for sellers.*
2) Prospecting for sellers is easier than prospecting for buyers.
3) Prospecting for buyers has a much lower return on output than prospecting for
sellers.
4) Spending 85% of your time prospecting for sellers will produce at least 85% more
sellers to work with.
Which duties are all licensees bound to? - Answers :1) Loyalty
2) Limited confidentiality
3) Obedience
**4) Accounting of all funds.**
Door knocking is an example of: - Answers :lead generating
Which would you expect in a property management contract? - Answers :1) The length
of the property management contract.
2) The amount of compensation to the property manager.
3) Conditions for when compensation will be collected by the property manager.
* 4) All of the above.*
What is the formula to calculate how many leads are needed to generate clients? -
Answers :Clients Required ÷ Lead Conversion %
Stacey hired a real estate licensee to advertise a home for sale in the MLS and to
handle the contract. However, the seller planned to handle their own showings and
open houses and did not want to pay the agent for those services. Which type of listing
agreement would be appropriate? - Answers :Limited listing agreement
