45 Hour Post License Florida Exam Test Questions with
Verified Answers Graded A+
Farming - ANSWER -Concentrating on one The duties required by the Code of Ethics are: -
type of style of property or on one particular ANSWER -1. Duties to clients and
neighborhood customers
2. Duties to the public in general
3. Duties to other real estate licensees
A residential transaction os defined in F.S. 475
as the sale of any: - ANSWER -- Duplex
- improved residential property of four units or Required Skills for the Real estate professional
fewer, including condominium units are: - ANSWER -1. Valuation - Must be able
-unimproved property intended for four units or to discern important differences between
fewer properties and know ho to translate those
- agricultural properties of ten acres or less differences into value. Must be able to conduct a
- leases with options to purchase all or a portion CMA.
of improved property of four or fewer residential 2. Marketing - must have an understanding of the
units tools and technologies available to market a
- dispositions of business interests for property of property.
four or fewer residential units 3. Property Transfer - understand how to close a
transaction
absentee owners - ANSWER -owners who
buy income property as investments and depend Mission Statement - ANSWER -description
on professionals to manage them of a desired outcome that excites, motivates, and
helps you to create a mental picture of your
business goal.
All appraisals, whether performed by a licensed
appraiser or a real estate licensee, must be
developed and reported in conformity with the - Industrial Sales or Leasing - ANSWER -
ANSWER -Uniform Standards of include warehouses and manufacturing facilities.
Professional Appraisal Practice (USPAP) Industrial sales and leasing generally involve
user/owners, rather than investors.
The largest and most prestigious real estate
organization in the world is ________. They work The law that specifically regulates real estate
for legislation enforce professional standards of licensees, schools, and appraisers is _________
conduct through its ________. - ANSWER - - ANSWER -F.S. 475
1. The National Association of Realtors (NAR)
2. Code of Ethics
The Range Of Penalties for disobeying FS 475 or
455 from lowest to highest is: - ANSWER -
The largest trade association in the state is Reprimand, fine, probation, suspension, and
_________ - ANSWER -The Florida revocation or denial.
Association of Realtors (FAR)
Which is the maximum penalty for disobeying
, 45 Hour Post License Florida Exam Test Questions with
Verified Answers Graded A+
laws under FS 455 or FS 475 - ANSWER - provided in writing by the _____. -
Revocation or denial of license ANSWER -1. broker
2. broker
If the licensee does not complete the 45 hour
course before the expiration date of their first Single agents are held accountable for what four
renewal, the license becomes ____ - specific duties? - ANSWER -1.
ANSWER -void and the licensee will be out Confidentiality
of business. (have to start over everything) 2. Obedience
3. Loyalty
4. Full Disclosure
When a sales associate changes employers,
they must notify the Commission of the change
no later than ________ days after the change by Appraisals utilized by federally regulated lenders
using the form provided by the commission. - in federally related transactions be developed
ANSWER -10 and reported in conformity with the _______ -
ANSWER -Uniform Standards of
Professional Appraisal Practices (USPAP)
Advertisements may not be - ANSWER -
fraudulent, false, deceptive, or misleading.
Assessed value is - ANSWER -the value
assigned by the property appraiser for ad
Advertising false, inaccurate, misleading or valorem tax purposes
exaggerated information could result in
____________ - ANSWER -the issuance of
a citation and a fine of $500 What is the difference between price and value? -
ANSWER -Price is the amount that is
actually paid in a real estate transaction. It may
A sales associate who receives a deposit must not represent the market value.
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 The Principle of Contribution states that -
ANSWER -the value of a component of the
property is the amount it increases the total value
A sales associate may not collect money in of the property (ex. renovating the kitchen to
connection with a real estate transaction except - increase the asking price)
ANSWER -in the name of the employer
(cannot be payed by buyer or seller)
Highest and Best Use Analysis -
ANSWER -every property has a single use
A sales associate receives compensation only the produces the greatest income and return.
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 Comparable Sales Approach is used -
Verified Answers Graded A+
Farming - ANSWER -Concentrating on one The duties required by the Code of Ethics are: -
type of style of property or on one particular ANSWER -1. Duties to clients and
neighborhood customers
2. Duties to the public in general
3. Duties to other real estate licensees
A residential transaction os defined in F.S. 475
as the sale of any: - ANSWER -- Duplex
- improved residential property of four units or Required Skills for the Real estate professional
fewer, including condominium units are: - ANSWER -1. Valuation - Must be able
-unimproved property intended for four units or to discern important differences between
fewer properties and know ho to translate those
- agricultural properties of ten acres or less differences into value. Must be able to conduct a
- leases with options to purchase all or a portion CMA.
of improved property of four or fewer residential 2. Marketing - must have an understanding of the
units tools and technologies available to market a
- dispositions of business interests for property of property.
four or fewer residential units 3. Property Transfer - understand how to close a
transaction
absentee owners - ANSWER -owners who
buy income property as investments and depend Mission Statement - ANSWER -description
on professionals to manage them of a desired outcome that excites, motivates, and
helps you to create a mental picture of your
business goal.
All appraisals, whether performed by a licensed
appraiser or a real estate licensee, must be
developed and reported in conformity with the - Industrial Sales or Leasing - ANSWER -
ANSWER -Uniform Standards of include warehouses and manufacturing facilities.
Professional Appraisal Practice (USPAP) Industrial sales and leasing generally involve
user/owners, rather than investors.
The largest and most prestigious real estate
organization in the world is ________. They work The law that specifically regulates real estate
for legislation enforce professional standards of licensees, schools, and appraisers is _________
conduct through its ________. - ANSWER - - ANSWER -F.S. 475
1. The National Association of Realtors (NAR)
2. Code of Ethics
The Range Of Penalties for disobeying FS 475 or
455 from lowest to highest is: - ANSWER -
The largest trade association in the state is Reprimand, fine, probation, suspension, and
_________ - ANSWER -The Florida revocation or denial.
Association of Realtors (FAR)
Which is the maximum penalty for disobeying
, 45 Hour Post License Florida Exam Test Questions with
Verified Answers Graded A+
laws under FS 455 or FS 475 - ANSWER - provided in writing by the _____. -
Revocation or denial of license ANSWER -1. broker
2. broker
If the licensee does not complete the 45 hour
course before the expiration date of their first Single agents are held accountable for what four
renewal, the license becomes ____ - specific duties? - ANSWER -1.
ANSWER -void and the licensee will be out Confidentiality
of business. (have to start over everything) 2. Obedience
3. Loyalty
4. Full Disclosure
When a sales associate changes employers,
they must notify the Commission of the change
no later than ________ days after the change by Appraisals utilized by federally regulated lenders
using the form provided by the commission. - in federally related transactions be developed
ANSWER -10 and reported in conformity with the _______ -
ANSWER -Uniform Standards of
Professional Appraisal Practices (USPAP)
Advertisements may not be - ANSWER -
fraudulent, false, deceptive, or misleading.
Assessed value is - ANSWER -the value
assigned by the property appraiser for ad
Advertising false, inaccurate, misleading or valorem tax purposes
exaggerated information could result in
____________ - ANSWER -the issuance of
a citation and a fine of $500 What is the difference between price and value? -
ANSWER -Price is the amount that is
actually paid in a real estate transaction. It may
A sales associate who receives a deposit must not represent the market value.
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 The Principle of Contribution states that -
ANSWER -the value of a component of the
property is the amount it increases the total value
A sales associate may not collect money in of the property (ex. renovating the kitchen to
connection with a real estate transaction except - increase the asking price)
ANSWER -in the name of the employer
(cannot be payed by buyer or seller)
Highest and Best Use Analysis -
ANSWER -every property has a single use
A sales associate receives compensation only the produces the greatest income and return.
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 Comparable Sales Approach is used -
