Bob Hogue Real Estate UPDATED ACTUAL
Questions and CORRECT Answers
Requirement that the infrastructure for sanitary sewers, potable water, and waste treatment
facilities be in place before new development is allowed is the - CORRECT ANSWER -
Concurrency Provision
The only active general partner in a real estate brokerage partnership has his license suspended.
All of the licenses of the sales associates in that brokerage are - CORRECT ANSWER -
placed in inactive status
Legal Title always passes from the seller to the buyer - CORRECT ANSWER - When the
deed is voluntarily delivered and voluntarily accepted
Which property is neither exempt not immune from ad valorem property tax? - CORRECT
ANSWER - Undeveloped Farmland
Description of A Check - CORRECT ANSWER - A square 24 Miles on each side created
by intersecting guide meridians and correction lines containing 16 townships
A listing to sell property and obtain a specified amount for the owner-principle is called -
CORRECT ANSWER - Net Listing
The key difference between police powers and eminent domain is whether - CORRECT
ANSWER - Any compensation was paid to an affected owner
For real property to be depreciated it must - CORRECT ANSWER - Have improvements
Special Assessments are - CORRECT ANSWER - used to help pay for some public
improvement that benefits the property.
, Mortgage loan payments made in regular installments of interest only with the full principal
amount plus accrued interest paid at one time at the end of the loan period describes -
CORRECT ANSWER - A term mortgage
A type of deed that contains the words "remise and release" or similar words is the - CORRECT
ANSWER - Quitclaim Deed
One mortgage clause NOT normally found in a VA or FHA mortgage is the - CORRECT
ANSWER - Prepayment Penalty clause
Who is required to obtain a Florida Mortgage Loan originators License? - CORRECT
ANSWER - An agent of a state-regulated mortgage lender who takes loan application
from consumers
Legal Description used only in developed subdivisions - CORRECT ANSWER - Lot and
Block
When measuring the square footage of a house an appraiser uses - CORRECT ANSWER -
Exterior dimensions
Recorded legal document that gives constructive notice that an action affects title to a parcel of
real property - CORRECT ANSWER - Lis Pendens
Lan value is obtained separately when using which approached to estimating value? -
CORRECT ANSWER - Cost Approach
Statement that is TRUE regarding PMI - CORRECT ANSWER - PMI is required on
conventional mortgage loans with a 90% LTV
The purpose of a TRIM notice is to - CORRECT ANSWER - Inform property owners of
the tax bill they can expect in November
Questions and CORRECT Answers
Requirement that the infrastructure for sanitary sewers, potable water, and waste treatment
facilities be in place before new development is allowed is the - CORRECT ANSWER -
Concurrency Provision
The only active general partner in a real estate brokerage partnership has his license suspended.
All of the licenses of the sales associates in that brokerage are - CORRECT ANSWER -
placed in inactive status
Legal Title always passes from the seller to the buyer - CORRECT ANSWER - When the
deed is voluntarily delivered and voluntarily accepted
Which property is neither exempt not immune from ad valorem property tax? - CORRECT
ANSWER - Undeveloped Farmland
Description of A Check - CORRECT ANSWER - A square 24 Miles on each side created
by intersecting guide meridians and correction lines containing 16 townships
A listing to sell property and obtain a specified amount for the owner-principle is called -
CORRECT ANSWER - Net Listing
The key difference between police powers and eminent domain is whether - CORRECT
ANSWER - Any compensation was paid to an affected owner
For real property to be depreciated it must - CORRECT ANSWER - Have improvements
Special Assessments are - CORRECT ANSWER - used to help pay for some public
improvement that benefits the property.
, Mortgage loan payments made in regular installments of interest only with the full principal
amount plus accrued interest paid at one time at the end of the loan period describes -
CORRECT ANSWER - A term mortgage
A type of deed that contains the words "remise and release" or similar words is the - CORRECT
ANSWER - Quitclaim Deed
One mortgage clause NOT normally found in a VA or FHA mortgage is the - CORRECT
ANSWER - Prepayment Penalty clause
Who is required to obtain a Florida Mortgage Loan originators License? - CORRECT
ANSWER - An agent of a state-regulated mortgage lender who takes loan application
from consumers
Legal Description used only in developed subdivisions - CORRECT ANSWER - Lot and
Block
When measuring the square footage of a house an appraiser uses - CORRECT ANSWER -
Exterior dimensions
Recorded legal document that gives constructive notice that an action affects title to a parcel of
real property - CORRECT ANSWER - Lis Pendens
Lan value is obtained separately when using which approached to estimating value? -
CORRECT ANSWER - Cost Approach
Statement that is TRUE regarding PMI - CORRECT ANSWER - PMI is required on
conventional mortgage loans with a 90% LTV
The purpose of a TRIM notice is to - CORRECT ANSWER - Inform property owners of
the tax bill they can expect in November
