FLORIDA Real Estate Pre-license Exam Review
Study online at https://quizlet.com/_1dzety
1. Real Estate Business Is composed of many specialization's:
- (1)Details of Property Transfer
-Knowledge of:
(2)market conditions
(3)how to market real estate business
(4)how to analyze buyers needs
(5)laws that pertain to real estate
2. Real Estate Brokerage Is the bringing together of buyers and
sellers, owners and renters and complet-
ing real estate transactions.
3. ***How can a agent maintain good standing ***Follow Up. This will result in a good
with clients? (After title closing)*** reputation and FUTURE REFERRALS and
word-of-mouth advertising.***
4. What are the 5 major sales specialties? Residential. (Remember 4-10 Rule: any
(Types of properties/lots) vacant land zoned for 4 or fewer residen-
tial units OR agricultural property of 10
or fewer acres.){A condo is considered a
single family home}
Commercial.
Industrial.
Agricultural.
Business. (Considered "business bro-
kers." ***Presumption in Florida that
businesses include real property***)
5. What is a Farm Area? When brokers/sales associate become
an expert in one portion of the city.
6. What is the difference between a rental
agent and a property manager?
, FLORIDA Real Estate Pre-license Exam Review
Study online at https://quizlet.com/_1dzety
Rental Agent: find a tenant & collect fee.
Property Manager: continue to manage
property after tenant is secured.
7. What is an absentee owner? is a property owner who does not reside
on property/often relies on profession-
al property manager to manage invest-
ment.
8. Can a real estate broker / sales associate Yes, but CANNOT say they are state cer-
appraise a property for compensation? tified, registered trainee, or licensed ap-
praisers.
9. When conducting appraisals, must follow Uniform Standards of Professional Ap-
what set of guidelines? praisal Practice (USPAP) (Best Practices)
10. What is a brokers price opinion (BPO)? Can a It is the opinion of value of real property,
real estate licensees charge for these? and yes as long as it is not considered an
appraisal.
11. ***Who does the commission for a BPO, or ***C. Compensation can not be paid di-
for any service of real estate, go to? rectly to associates.
a)broker associate
b)sales associate
c)broker
12. Who may use the term REALTOR? REALTOR and real estate licensee are not
synonymous. REALTORS are members of
a local board of realtors (privately run
organization).
13. Who created the MLS (Multiple Listing Ser- National Association of Realtors.
vice) database?
, FLORIDA Real Estate Pre-license Exam Review
Study online at https://quizlet.com/_1dzety
14. Applicants should be familiar with these (F.S. = Florida Statute)
laws an rules and their respective subsec- F.S. 20
tions: F.S. Chapter 475
-Part 1. pertains to real estate broker-
age
-Part 2. pertains to real estate apprais-
ers
-Part 3. Commercial Real Estate SALES
Commission Lien Act (Lien is only on
owners net proceeds)
-Part 4. Commercial Real Estate LEASING
Commission Lien Act. (Gives broker lien
rights)
F.S. 455
Chapter 61J2
15. ***When going through application process ***Cautioned to complete carefully, and
what should applicant NOT exclude? to fully disclose any background crimi-
nal history EVEN IF conviction was with-
held adjudication. {It is the applicants
responsibility to verify these things}
16. ***Non-florida-residents are not required to Proof of U.S. citizenship, however must
provide: have a social security number. (SSN used
to see if applicants are in compliance
with child support obligations)
17. ***Real Estate applicants approved for licen- Pre-license course.
sure under mutual recognition are exempt
from:
18. License Exam - 70%
State Exam - 75%
Study online at https://quizlet.com/_1dzety
1. Real Estate Business Is composed of many specialization's:
- (1)Details of Property Transfer
-Knowledge of:
(2)market conditions
(3)how to market real estate business
(4)how to analyze buyers needs
(5)laws that pertain to real estate
2. Real Estate Brokerage Is the bringing together of buyers and
sellers, owners and renters and complet-
ing real estate transactions.
3. ***How can a agent maintain good standing ***Follow Up. This will result in a good
with clients? (After title closing)*** reputation and FUTURE REFERRALS and
word-of-mouth advertising.***
4. What are the 5 major sales specialties? Residential. (Remember 4-10 Rule: any
(Types of properties/lots) vacant land zoned for 4 or fewer residen-
tial units OR agricultural property of 10
or fewer acres.){A condo is considered a
single family home}
Commercial.
Industrial.
Agricultural.
Business. (Considered "business bro-
kers." ***Presumption in Florida that
businesses include real property***)
5. What is a Farm Area? When brokers/sales associate become
an expert in one portion of the city.
6. What is the difference between a rental
agent and a property manager?
, FLORIDA Real Estate Pre-license Exam Review
Study online at https://quizlet.com/_1dzety
Rental Agent: find a tenant & collect fee.
Property Manager: continue to manage
property after tenant is secured.
7. What is an absentee owner? is a property owner who does not reside
on property/often relies on profession-
al property manager to manage invest-
ment.
8. Can a real estate broker / sales associate Yes, but CANNOT say they are state cer-
appraise a property for compensation? tified, registered trainee, or licensed ap-
praisers.
9. When conducting appraisals, must follow Uniform Standards of Professional Ap-
what set of guidelines? praisal Practice (USPAP) (Best Practices)
10. What is a brokers price opinion (BPO)? Can a It is the opinion of value of real property,
real estate licensees charge for these? and yes as long as it is not considered an
appraisal.
11. ***Who does the commission for a BPO, or ***C. Compensation can not be paid di-
for any service of real estate, go to? rectly to associates.
a)broker associate
b)sales associate
c)broker
12. Who may use the term REALTOR? REALTOR and real estate licensee are not
synonymous. REALTORS are members of
a local board of realtors (privately run
organization).
13. Who created the MLS (Multiple Listing Ser- National Association of Realtors.
vice) database?
, FLORIDA Real Estate Pre-license Exam Review
Study online at https://quizlet.com/_1dzety
14. Applicants should be familiar with these (F.S. = Florida Statute)
laws an rules and their respective subsec- F.S. 20
tions: F.S. Chapter 475
-Part 1. pertains to real estate broker-
age
-Part 2. pertains to real estate apprais-
ers
-Part 3. Commercial Real Estate SALES
Commission Lien Act (Lien is only on
owners net proceeds)
-Part 4. Commercial Real Estate LEASING
Commission Lien Act. (Gives broker lien
rights)
F.S. 455
Chapter 61J2
15. ***When going through application process ***Cautioned to complete carefully, and
what should applicant NOT exclude? to fully disclose any background crimi-
nal history EVEN IF conviction was with-
held adjudication. {It is the applicants
responsibility to verify these things}
16. ***Non-florida-residents are not required to Proof of U.S. citizenship, however must
provide: have a social security number. (SSN used
to see if applicants are in compliance
with child support obligations)
17. ***Real Estate applicants approved for licen- Pre-license course.
sure under mutual recognition are exempt
from:
18. License Exam - 70%
State Exam - 75%
