45 Hour Post License Real Estate Florida
(100% Error-Free Answers)
An economic recovery is defined as
A)
two successive quarterly declines in the gross domestic product.
B)
two successive quarterly increases in the gross domestic product.
C)
a period of higher housing prices.
D)
two successive periods of stock market gains. correct answers B)
two successive quarterly increases in the gross domestic product.
Explanation
When consumers, lured by lower prices, venture back into the market, business activity increases
and confidence begins to return. Slowly, production facilities gear up to meet the new consumer
demand, capital begins to flow back into business enterprises, and additional employees are
hired.
The three types of operating expenses of an income property are
A)
fixed, debt service, and reserves for replacements.
B)
reserves for replacements, fixed, and variable.
C)
variable, income taxes, and fixed.
D)
reserves for replacements, variable, and income taxes. correct answers B)
reserves for replacements, fixed, and variable.
Explanation
Operating expenses are divided into three categories: fixed expenses, variable expenses, and
reserves for replacement.
A person applies for a $300,000, 30-year fixed-rate mortgage loan at 4%. The mortgage payment
factor is .00477415. Taxes for the year are $4,000, and insurance is $2,400. Her monthly
payment for principal, interest, taxes, and insurance (PITI) will be
A)
$1,432.25.
B)
$1,773.64.
C)
$1,273.64.
,D)
$1,965.58. correct answers D)
$1,965.58.
58. $300,000 × .00477415 = $1,432.25 principal and interest. $4,000 taxes ÷ 12 months =
333.33. $2,400 insurance ÷ 12 months = 200. $1,432.25 + $333.33 + $200 = $1,965.58 total
PITI.
A sales associate receives a good-faith deposit from a buyer on Wednesday. The broker must
deposit the funds into the escrow account no later than the following
A)
Tuesday.
B)
Monday.
C)
Thursday.
D)
Friday. correct answers B)
Monday.
FREC rules require that the sales associate must give the broker the funds within one business
day. The broker must deposit the funds in a bank within three business days.
The minimum legal description for a platted subdivision would include
A)
street address, lot and block number, and subdivision name.
B)
county, lot and block number, name of subdivision, and lot dimensions.
C)
subdivision name, county, reference to section, township, and range.
D)
subdivision name, county, lot and block number, plat book and page number. correct answers D)
subdivision name, county, lot and block number, plat book and page number.
Antitrust laws
A)
allow brokers to boycott cut-rate brokers' listings.
B)
prohibit commercial advertising in faxes.
C)
allow brokers to split up market areas.
D)
prohibit price fixing. correct answers D)
prohibit price fixing.
Explanation
, Some of the prohibited actions under antitrust laws include:
conspiracy to set prices;
splitting up competitive market areas;
conspiring to boycott cut-rate brokers or otherwise interfering with their business; and
requiring a minimum commission before allowing listings to be circulated in any service, such as
through an MLS.
Hearing, understanding, and evaluation are part of what type of skill set?
A)
Oral
B)
Written
C)
Nonverbal
D)
Listening correct answers D)
Listening
What are the requirements for persons disturbing lead-based paint in a house?
A)
The owner must leave the house vacant for a minimum of 30 days after cleanup.
B)
The person must have taken a 45-hour course in radon gas remediation.
C)
Lead-based paint may not be disturbed by law.
D)
The person must be certified and follow specific work procedures. correct answers D)
The person must be certified and follow specific work procedures.
The Civil Rights Act of 1866 prohibits discrimination based on
A)
race, color, religion, sex, national origin, family status, or handicap.
B)
sexual preference.
C)
religion.
D)
race. correct answers D)
race.
In order to make successful prospecting calls, a sales associate should
A)
call from the phone book without accessing the do-not-call registry.
B)
be consistent, making them at the same time each day.
(100% Error-Free Answers)
An economic recovery is defined as
A)
two successive quarterly declines in the gross domestic product.
B)
two successive quarterly increases in the gross domestic product.
C)
a period of higher housing prices.
D)
two successive periods of stock market gains. correct answers B)
two successive quarterly increases in the gross domestic product.
Explanation
When consumers, lured by lower prices, venture back into the market, business activity increases
and confidence begins to return. Slowly, production facilities gear up to meet the new consumer
demand, capital begins to flow back into business enterprises, and additional employees are
hired.
The three types of operating expenses of an income property are
A)
fixed, debt service, and reserves for replacements.
B)
reserves for replacements, fixed, and variable.
C)
variable, income taxes, and fixed.
D)
reserves for replacements, variable, and income taxes. correct answers B)
reserves for replacements, fixed, and variable.
Explanation
Operating expenses are divided into three categories: fixed expenses, variable expenses, and
reserves for replacement.
A person applies for a $300,000, 30-year fixed-rate mortgage loan at 4%. The mortgage payment
factor is .00477415. Taxes for the year are $4,000, and insurance is $2,400. Her monthly
payment for principal, interest, taxes, and insurance (PITI) will be
A)
$1,432.25.
B)
$1,773.64.
C)
$1,273.64.
,D)
$1,965.58. correct answers D)
$1,965.58.
58. $300,000 × .00477415 = $1,432.25 principal and interest. $4,000 taxes ÷ 12 months =
333.33. $2,400 insurance ÷ 12 months = 200. $1,432.25 + $333.33 + $200 = $1,965.58 total
PITI.
A sales associate receives a good-faith deposit from a buyer on Wednesday. The broker must
deposit the funds into the escrow account no later than the following
A)
Tuesday.
B)
Monday.
C)
Thursday.
D)
Friday. correct answers B)
Monday.
FREC rules require that the sales associate must give the broker the funds within one business
day. The broker must deposit the funds in a bank within three business days.
The minimum legal description for a platted subdivision would include
A)
street address, lot and block number, and subdivision name.
B)
county, lot and block number, name of subdivision, and lot dimensions.
C)
subdivision name, county, reference to section, township, and range.
D)
subdivision name, county, lot and block number, plat book and page number. correct answers D)
subdivision name, county, lot and block number, plat book and page number.
Antitrust laws
A)
allow brokers to boycott cut-rate brokers' listings.
B)
prohibit commercial advertising in faxes.
C)
allow brokers to split up market areas.
D)
prohibit price fixing. correct answers D)
prohibit price fixing.
Explanation
, Some of the prohibited actions under antitrust laws include:
conspiracy to set prices;
splitting up competitive market areas;
conspiring to boycott cut-rate brokers or otherwise interfering with their business; and
requiring a minimum commission before allowing listings to be circulated in any service, such as
through an MLS.
Hearing, understanding, and evaluation are part of what type of skill set?
A)
Oral
B)
Written
C)
Nonverbal
D)
Listening correct answers D)
Listening
What are the requirements for persons disturbing lead-based paint in a house?
A)
The owner must leave the house vacant for a minimum of 30 days after cleanup.
B)
The person must have taken a 45-hour course in radon gas remediation.
C)
Lead-based paint may not be disturbed by law.
D)
The person must be certified and follow specific work procedures. correct answers D)
The person must be certified and follow specific work procedures.
The Civil Rights Act of 1866 prohibits discrimination based on
A)
race, color, religion, sex, national origin, family status, or handicap.
B)
sexual preference.
C)
religion.
D)
race. correct answers D)
race.
In order to make successful prospecting calls, a sales associate should
A)
call from the phone book without accessing the do-not-call registry.
B)
be consistent, making them at the same time each day.
