GOLD COAST REAL ESTATE COMPREHENSIVE EXAM1
QUESTIONS AND ANSWERS 2025/2026 ALL RATED A+
✔✔Temporary business involving a single transaction or a predetermined number of
transactions, joint and several liability - ✔✔Joint venture (adventure)
✔✔Up to 1 year in jail and/or $1000 fine - ✔✔First degree misdemeanor, false
advertising, culpable negligence
✔✔Up to $500 and/or 60 days jail - ✔✔Second degree misdemeanor, rental information
violations
✔✔Up to $5000 fine and/or 5 years jail, acting as broker or sales associate without
license - ✔✔3rd degree felony
✔✔Maximum administrative penalty (per offense) - ✔✔$5,000
✔✔Maximum suspension of license - ✔✔10 years
✔✔Can FREC deny payment of comission or imprison? - ✔✔no
✔✔Intermediary between FREC and DBPR - ✔✔DRE
✔✔How long to correct notice of noncompliance - ✔✔15 days
✔✔Max real estate recovery fund (compensatory) - ✔✔$50k for single transaction or
$150k for multiple transactions againstone licensee
✔✔An act contrary to honesty, good morals or accepted customs - ✔✔Moral turpitude
✔✔How many days to replace loss of active broker - ✔✔14 days
✔✔No partnership exists, but public has reason to believe that one does -
✔✔Ostensible (quasi) partnership
✔✔Prohibits discrimination on the basis of race only - ✔✔Civil rights act of 1866
✔✔Prohibits discrimination based on race, color, religion, sex, national origin, handicap,
family status - ✔✔Cvil rights act of 1968 (fair housing act)
✔✔Inducing owners to sell based on the entry of members of a protected class moving
into neighborhood - ✔✔Blockbusting
,✔✔Limiting housing choices based on protected class - ✔✔Steering (channeling)
✔✔Denying loans or insurance in certain neighborhood based on protected class -
✔✔Redlining
✔✔Tenant pays fixed rent; landlord is responsible for all expenses - ✔✔Gross lease
✔✔Tenant pays fixed rent plus expenses (taxes, insurance, maintenance) - ✔✔Net
lease
✔✔Tenant pays a base rent and a percentage of monthly or annual gross sales -
✔✔Percentage lease
✔✔Tenant pays specified rent increases at set future date - ✔✔Index lease
✔✔Lease with option to purchase the property or lease longer - ✔✔Lease option
✔✔Owner sells to investor then immediately leases back - ✔✔Sale-leaseback
✔✔Transfer of lease rights, new lessee is obligated - ✔✔Assignment
✔✔Transfer for shorter period, original lessee obligated - ✔✔Sublease
✔✔Do not call fine - ✔✔$11,000 per offense
✔✔4 or fewer residential units, vacant land zoned for 4 or fewer residential units,
agricultural property of 10 or fewer acres - ✔✔Residential sale
✔✔A specific portion of city that broker or sales associate seeks to become an expert -
✔✔Farm area
✔✔Less than $250,000, non federally related transaction, USPAP - ✔✔Appraisal by
real estate licensee
✔✔Built before securing a buyer - ✔✔Spec home
✔✔Built custom to a buyer's specifications - ✔✔Custom home
✔✔Spec home, but typically built on a larger scale featuring several models - ✔✔Tract
home
✔✔Real estate law (1941) - ✔✔Chapter 475
, ✔✔When was FREC created (to administer and enforce the law) - ✔✔1925
✔✔When was chapter 475 revised with parts I and II - ✔✔1991
✔✔How long to file for a formal hearing after being denied application to take state
application for real estate - ✔✔21 days
✔✔Persons granted authority under a power of attorney to act for others in some
capacity such as signing documents - ✔✔Attorneys in fact
✔✔Persons appointed by a court of law to perform services of real estate. (Trustees,
receivers, masters in chancery) - ✔✔Court appointees
✔✔Surface of the earth and everything attached to it by nature - ✔✔Land
✔✔Surface of the earth and all improvements (artifical things attached to the land) -
✔✔Real estate
✔✔Real estate plus the legal bundle of rights - ✔✔Real property
✔✔Surface rights - ✔✔Land, water, subsurface rights
✔✔Rights of owners of property bordering nonflowing water such as ocean, sea, or lake
- ✔✔Litoral rights
✔✔Rights of an owner whose property borders on a flowing waterway such as river or
stream - ✔✔Riparian rights
✔✔Space above surface to a height established by law - ✔✔Air rights
✔✔Increase of land due to natural causes - ✔✔Accretion
✔✔Deposits of land a result of accretion - ✔✔Alluvion
✔✔Gradual receding of water, uncovering additional land - ✔✔Reliction
✔✔Any property that is not real property - ✔✔Personal property (chattel)
✔✔Real property becomes personal property (take fan down) - ✔✔Severance
✔✔Personal property becomes real property (put fan up) - ✔✔Attachment
✔✔An item that was personal property but is now real property - ✔✔Fixture
QUESTIONS AND ANSWERS 2025/2026 ALL RATED A+
✔✔Temporary business involving a single transaction or a predetermined number of
transactions, joint and several liability - ✔✔Joint venture (adventure)
✔✔Up to 1 year in jail and/or $1000 fine - ✔✔First degree misdemeanor, false
advertising, culpable negligence
✔✔Up to $500 and/or 60 days jail - ✔✔Second degree misdemeanor, rental information
violations
✔✔Up to $5000 fine and/or 5 years jail, acting as broker or sales associate without
license - ✔✔3rd degree felony
✔✔Maximum administrative penalty (per offense) - ✔✔$5,000
✔✔Maximum suspension of license - ✔✔10 years
✔✔Can FREC deny payment of comission or imprison? - ✔✔no
✔✔Intermediary between FREC and DBPR - ✔✔DRE
✔✔How long to correct notice of noncompliance - ✔✔15 days
✔✔Max real estate recovery fund (compensatory) - ✔✔$50k for single transaction or
$150k for multiple transactions againstone licensee
✔✔An act contrary to honesty, good morals or accepted customs - ✔✔Moral turpitude
✔✔How many days to replace loss of active broker - ✔✔14 days
✔✔No partnership exists, but public has reason to believe that one does -
✔✔Ostensible (quasi) partnership
✔✔Prohibits discrimination on the basis of race only - ✔✔Civil rights act of 1866
✔✔Prohibits discrimination based on race, color, religion, sex, national origin, handicap,
family status - ✔✔Cvil rights act of 1968 (fair housing act)
✔✔Inducing owners to sell based on the entry of members of a protected class moving
into neighborhood - ✔✔Blockbusting
,✔✔Limiting housing choices based on protected class - ✔✔Steering (channeling)
✔✔Denying loans or insurance in certain neighborhood based on protected class -
✔✔Redlining
✔✔Tenant pays fixed rent; landlord is responsible for all expenses - ✔✔Gross lease
✔✔Tenant pays fixed rent plus expenses (taxes, insurance, maintenance) - ✔✔Net
lease
✔✔Tenant pays a base rent and a percentage of monthly or annual gross sales -
✔✔Percentage lease
✔✔Tenant pays specified rent increases at set future date - ✔✔Index lease
✔✔Lease with option to purchase the property or lease longer - ✔✔Lease option
✔✔Owner sells to investor then immediately leases back - ✔✔Sale-leaseback
✔✔Transfer of lease rights, new lessee is obligated - ✔✔Assignment
✔✔Transfer for shorter period, original lessee obligated - ✔✔Sublease
✔✔Do not call fine - ✔✔$11,000 per offense
✔✔4 or fewer residential units, vacant land zoned for 4 or fewer residential units,
agricultural property of 10 or fewer acres - ✔✔Residential sale
✔✔A specific portion of city that broker or sales associate seeks to become an expert -
✔✔Farm area
✔✔Less than $250,000, non federally related transaction, USPAP - ✔✔Appraisal by
real estate licensee
✔✔Built before securing a buyer - ✔✔Spec home
✔✔Built custom to a buyer's specifications - ✔✔Custom home
✔✔Spec home, but typically built on a larger scale featuring several models - ✔✔Tract
home
✔✔Real estate law (1941) - ✔✔Chapter 475
, ✔✔When was FREC created (to administer and enforce the law) - ✔✔1925
✔✔When was chapter 475 revised with parts I and II - ✔✔1991
✔✔How long to file for a formal hearing after being denied application to take state
application for real estate - ✔✔21 days
✔✔Persons granted authority under a power of attorney to act for others in some
capacity such as signing documents - ✔✔Attorneys in fact
✔✔Persons appointed by a court of law to perform services of real estate. (Trustees,
receivers, masters in chancery) - ✔✔Court appointees
✔✔Surface of the earth and everything attached to it by nature - ✔✔Land
✔✔Surface of the earth and all improvements (artifical things attached to the land) -
✔✔Real estate
✔✔Real estate plus the legal bundle of rights - ✔✔Real property
✔✔Surface rights - ✔✔Land, water, subsurface rights
✔✔Rights of owners of property bordering nonflowing water such as ocean, sea, or lake
- ✔✔Litoral rights
✔✔Rights of an owner whose property borders on a flowing waterway such as river or
stream - ✔✔Riparian rights
✔✔Space above surface to a height established by law - ✔✔Air rights
✔✔Increase of land due to natural causes - ✔✔Accretion
✔✔Deposits of land a result of accretion - ✔✔Alluvion
✔✔Gradual receding of water, uncovering additional land - ✔✔Reliction
✔✔Any property that is not real property - ✔✔Personal property (chattel)
✔✔Real property becomes personal property (take fan down) - ✔✔Severance
✔✔Personal property becomes real property (put fan up) - ✔✔Attachment
✔✔An item that was personal property but is now real property - ✔✔Fixture
