GOLD COAST REAL ESTATE
PRACTICE EXAM QUESTIONS
WITH CORRECT DETAILED
ANSWERS | ALREADY GRADED
A+<RECENT VERSION>
1. Tract building - answer When a dev. Acquired land, records a plat map
and uses a model center from which sales may be made
2. Local level - answer Planning, zoning, property taxation, building and
health codes and regulations, and building moratoriums that affect
development play a significant role in the cost and desirability of real
estate
3. Broker associate - answer A licensed broker working for another
broker
4. False - answer A florida real estate license applicant must be a resident
and citizen (true or false)
5. Application Denial - answer You have 21 days to send a formal letter
to the department for a hearing if:
6. One - answer How mang brokers can a sales or broker associate work
for
,7. Post license requirements - answer No grace period
8. Sales associate first renewal - answer No grace period
9. Exempt from licensure - answer Attorney in fact/ Attorney at Law
10.Attorneys at law - answer My perform legal services on behalf
ofntheir clients; they may prepare documents, handle closings, and give
legal advice.
11.Involuntary inactive - answer An individual who does not request
renewal of their second or subsequent lecense, pay the required fees, or
maintain their continuing education requirements will have their license
placed in
12.2 years - answer A license may remain in involuntary inactive status
for no longer than
13.Special Agent - answer A special agent is authorized under agency law
by the employer to perform a single act. The employment contract
between the employer and agent establishes the limit of authority granted
14.Presenting offers - answer A broker has a buty to transmit any and all
offers to the employer including oral offers or offers made without a
binder deposit
15.Limited - answer A transaction broker provides what kind of
representation
,16.Single agent - answer this agency relationship is created when a
broker accepts employment under a single agency agreement. A broker
may represent a seller or buyer , or a landlord or tenant.
17.Principal - answer In a single agency relationship, the employer
becomes the
18.For sale By owner - answer Non Representation or (No Brokerage
Relationship can also be called)
19.FSBO - answer For sale by owner can also be called
20.Stationary Construction - answer An active broker is required to have
this open which must be registered with the department of Business and
Professional Regulation where Negotiations and the closing of real estate
transactions can be conducted with privacy
21.Others - answer Licencees should make clear that they are dealing on
their own account and not acting on the behalf of
22.Public - answer Licencees should make known their status as
licencees to members of the
23.Serious negotiations - answer This Disclosure should be made prior to
entering into
24.Deposit - answer A form of Money, personal property, real property,
or anything of value that is capable of being converted into cash.
, 25.Closing - answer Typically the deposit is intended as partial payment
of the purchase price at?
26.Post dated checks - answer Are considered to be promissory notes and
can be accepted as earnest money with the seller's approval.
27.True - answer When a deposit is placed, or is to be placed, with a title
company or an attorney, the licensee who prepared or presented the sales
contract must indicate on that contract the name, address, and telephone
number of the title company or attorney with whom the deposit was
placed (True or False)
28.Escrow or trust account - answer May be held in a commercial bank,
title company which has trust powers, credit union, or savings and loan
association located in the state of Florida
29.Farming - answer one type or style of property or on one particular
neighborhood (chapter 1)
30.Farm Area (Target Market) - answer The area in which a real estate
professional concentrates their efforts. (chapter 1)
31.Comparative Market Analysis (CMA) - answer A value estimate based
on recent sales of similar properties in the same neighborhood (not
referred to as an appraisal) ch. 1
32.MULITPLE LISTING SERVICE (MLS) - answer provides the
opportunity to market listings to a thousand of other local and statewide
licensees and potential buyers (ch. 1)
PRACTICE EXAM QUESTIONS
WITH CORRECT DETAILED
ANSWERS | ALREADY GRADED
A+<RECENT VERSION>
1. Tract building - answer When a dev. Acquired land, records a plat map
and uses a model center from which sales may be made
2. Local level - answer Planning, zoning, property taxation, building and
health codes and regulations, and building moratoriums that affect
development play a significant role in the cost and desirability of real
estate
3. Broker associate - answer A licensed broker working for another
broker
4. False - answer A florida real estate license applicant must be a resident
and citizen (true or false)
5. Application Denial - answer You have 21 days to send a formal letter
to the department for a hearing if:
6. One - answer How mang brokers can a sales or broker associate work
for
,7. Post license requirements - answer No grace period
8. Sales associate first renewal - answer No grace period
9. Exempt from licensure - answer Attorney in fact/ Attorney at Law
10.Attorneys at law - answer My perform legal services on behalf
ofntheir clients; they may prepare documents, handle closings, and give
legal advice.
11.Involuntary inactive - answer An individual who does not request
renewal of their second or subsequent lecense, pay the required fees, or
maintain their continuing education requirements will have their license
placed in
12.2 years - answer A license may remain in involuntary inactive status
for no longer than
13.Special Agent - answer A special agent is authorized under agency law
by the employer to perform a single act. The employment contract
between the employer and agent establishes the limit of authority granted
14.Presenting offers - answer A broker has a buty to transmit any and all
offers to the employer including oral offers or offers made without a
binder deposit
15.Limited - answer A transaction broker provides what kind of
representation
,16.Single agent - answer this agency relationship is created when a
broker accepts employment under a single agency agreement. A broker
may represent a seller or buyer , or a landlord or tenant.
17.Principal - answer In a single agency relationship, the employer
becomes the
18.For sale By owner - answer Non Representation or (No Brokerage
Relationship can also be called)
19.FSBO - answer For sale by owner can also be called
20.Stationary Construction - answer An active broker is required to have
this open which must be registered with the department of Business and
Professional Regulation where Negotiations and the closing of real estate
transactions can be conducted with privacy
21.Others - answer Licencees should make clear that they are dealing on
their own account and not acting on the behalf of
22.Public - answer Licencees should make known their status as
licencees to members of the
23.Serious negotiations - answer This Disclosure should be made prior to
entering into
24.Deposit - answer A form of Money, personal property, real property,
or anything of value that is capable of being converted into cash.
, 25.Closing - answer Typically the deposit is intended as partial payment
of the purchase price at?
26.Post dated checks - answer Are considered to be promissory notes and
can be accepted as earnest money with the seller's approval.
27.True - answer When a deposit is placed, or is to be placed, with a title
company or an attorney, the licensee who prepared or presented the sales
contract must indicate on that contract the name, address, and telephone
number of the title company or attorney with whom the deposit was
placed (True or False)
28.Escrow or trust account - answer May be held in a commercial bank,
title company which has trust powers, credit union, or savings and loan
association located in the state of Florida
29.Farming - answer one type or style of property or on one particular
neighborhood (chapter 1)
30.Farm Area (Target Market) - answer The area in which a real estate
professional concentrates their efforts. (chapter 1)
31.Comparative Market Analysis (CMA) - answer A value estimate based
on recent sales of similar properties in the same neighborhood (not
referred to as an appraisal) ch. 1
32.MULITPLE LISTING SERVICE (MLS) - answer provides the
opportunity to market listings to a thousand of other local and statewide
licensees and potential buyers (ch. 1)
