FLORIDA REAL ESTATE - ACTUAL EXAM QUESTIONS AND 100% CORRECT ANSWERS|LATEST 2025/2026|GRADED A+|VERIFIED

ANSWERS|LATEST 2025/2026|GRADED


A sales associate was issued a citation for failing to timely notify the Commission of her chang
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e of address. How many days does the licensee have to either pay the citation or file an objecti
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on to the alleged violation? - ANSWER
B B B B B B 30 days B




Pam's home has an assessed value of $301,000. She qualifies for the Florida homestead exem
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ption. The area she lives in has the following taxes: County tax rate is 8.6 mills, City tax rate is 4
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mills and the school district tax rate is 6.1 mills. How much will the property taxes be? -
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ANSWER
B [Section 18 Slide 31] $301,000 - B B B B B



$50,000 = $251,000 x .0126 (8.6 mils + 4 mils =12.6 mils) = $3,162.60; $301,000 -
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$25,000=$276,000 x .0061 (6.1 mils) = $1,683.60; $3,162.60+ $1,683.60 = $4,846.20
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What are the similarities between a Business Brokerage and a Real Estate Brokerage? -
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B ANSWER 1) Both deal with Real Property
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2) Both require a Real Estate License
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3)Both involve Long-term Liabilities
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A rental investment property is scheduled to close on September 10. The buyer gets day of clo
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sing. The rent is $1900. How much is debited and/ or credited at closing and to whom? -
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B ANSWER $1330 Credit to Buyer and $1330 Debit to Seller
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[Section 14, Slide 63] There are 30 days in September, so there are 21 days that the seller owes
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Bthe buyer including the day of closing. Divide $1900 by 30 = 63.3333333333 x 21 days =$1,330
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A home was purchased with a down payment of $36, 000 and a loan of $200,000 at 6.5% for 3
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0 years. Monthly payments are $1,264.14. What is the loan to value ratio? -
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ANSWER
B [Section 12 Slide 52] $36,000 + $200,000 = $236,000 Purchase price; $200,00 B B B B B B B B B B B



0 � $236,000 = 0.8474576271 or 85% rounded.
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1
Wicky

,In case of breach by the buyer, most real estate contracts include a provision that the earnest
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money be regarded as: - ANSWER
B B B B B Liquidated damages to the seller B B B B




Which is an example of a functional obsolescence? - ANSWER
B B B B B B B B B One car garage
B B




A tenant signs a lease for less than a year. What is his interest in the property? -
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B ANSWER Leasehold estate B




To substitute a borrower in a mortgage with another borrower is called: -
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B ANSWER Assignment of mortgage B B




An active Florida broker accompanies her husband when he goes on active military duty in Ohi
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o for five years. She is not active in real estate in Ohio. Upon their return to Florida, she -
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ANSWER
B Need not complete any continuing education or reactivation education for th B B B B B B B B B B



ose five years and for up to 2 years after honorable discharge
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Effective age means: - ANSWER B B B B How old the building or house appears to be
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The indestructability of land refers to: - ANSWER
B B B B B B B Durability



If religion is a protected class under the Fair Housing Act, how can a church restrict the renting
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of homes to only members of their church? -
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ANSWER
B Churches and private clubs are exempt as long as they do not discriminate in a B B B B B B B B B B B B B B



ccepting membership. B




Which statement is associated only with the transaction broker relationship? -
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B ANSWER The customer is not responsible for the acts of the licensee
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You are appraising a 5 year old home. If the livable square footage is 3,500 with a cost of $95 t
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o replace according to a cost-
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2
Wicky

,estimating service and the 400 square foot garage can be replaced at $60 a sq foot, calculate t
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he reproduction cost of the structure - ANSWER
B B B B B B B $356,500



[Section 16 Slide 89] B B B B




95 x 3,500 = $332,500;
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$60 x 400 = $24,000; $332500 + 24000 = $356500
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Which tenancy has right of survivorship? - ANSWER
B B B B B B B Joint tenancy B




What section is directly below section 7 in a township? - ANSWER
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Compensatory damages are - B B B



BANSWER The amount of money equal to the extent of loss awarded to the damaged pa B B B B B B B B B B B B B B



rty when there has been a breach of contract.
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Buyer Ralph didn't like the results of an inspection report. He requested to cancel his contract
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and demanded his earnest money back. Seller Heather denied his request noting that he was
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one day past the time that was allotted to cancel the contract. Buyer Ralph claimed Seller Heat
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her was miscounting the dates and both demanded that Broker Smith return the money to ea
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ch of them. Broker Smith waited 15 days, hoping the situation would resolve, before notifying
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FREC of the conflicting demands. How long does Broker Smith have left to implement a settle
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ment procedure? - ANSWER B B B 15 days B




Sales Agent Sam employed by XYZ Realty has a house listed for sale for Seller Tom. He is worki
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ng as a single agent. Broker Associate Cliff, also employed by XYZ Realty brings a contract from
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his buyer Sue for Tom's property. What must Agent Sam have signed to allow both Tom and Su
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e be represented by XYZ Realty? -
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B ANSWER Consent Transition to Transaction Broker Notice
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The period of time during which the terms of a contract may be enforced according to the stat
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ute of limitations are: -
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B ANSWER Five years for written contracts and 4 years for parol contracts
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3
Wicky

, It is unlawful for a real estate licensee to prepare an appraisal under which circumstance? -
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B ANSWER For a transaction involving a federally regulated transaction
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Which person is NOT EXEMPT from licensure? -
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B ANSWER Attorney who charges a fee to negotiate a real estate contract for a client
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Satisfaction of mortgage is also known as: - ANSWER B B B B B B B B Release of mortgage B B




A sales associate received an earnest money deposit on Tuesday. The sales associate forgot ab
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out the check and gave it late to his Broker on Thursday. By when must the broker make the de
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posit? - ANSWER B B By the end of the day Friday
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You own a residential investment property that was purchased at $291,000. The land associat
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ed is valued at $73,000. Using the IRS straight line method which statement is correct? -
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B ANSWER The depreciable basis will be $218,000 depreciated over 27.5 years.
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Janice Raney wants to open a brokerage office operating as Crate Home Realty. She is preparin
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g the sign to be placed by the front entrance. What information does the sign NOT need to stat
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e - ANSWER
B B The name of the sales associates working under her
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What interest does a son hold in property, if the mother held a life estate inherited from her s
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pouse, with the son inheriting upon her death? - ANSWER
B B B B B B B B B Remainder estate B




When vacancy and collection losses are deducted from annual potential gross income and inc
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ome from other sources is added, the result is called: - ANSWER
B B B B B B B B B B B Effective Gross Income B B




What are the elements of a valid contract? -
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ANSWER
B Contractual capacity of the parties, offer and acceptance, legality of object, a B B B B B B B B B B B



nd consideration.
B




4
Wicky