FL Real Estate Exam Missed
Questions with Verified Answers
Where are the rules of the Florida Real Estate Commission Found?
A. F.S. 455
B. F.S. 475
C. F.A.C. 61J2
D. F.A.C. 62Q1
(chapter 3, DBPR) - ANSWERSC. F.A.C 61J2
Which of the following individuals must have a real estate license to perform the action
specified?
A. An attorney at law when performing his or her normal duties
B. An attorney-in-fact when executing conveyances and contracts
C. A salaried apartment manager who leases units for more than 1 year.
D. A mobile home park manager leasing lots in the mobile home park - ANSWERSC. A
salaried employee who leases units for more than 1 year.
They are only exempt if the leases are less than one year.
Title insurance is designed to protect against which of the following?
A. All defects in title
B. Missing documents
C. Forged documents
D. Known defects - ANSWERSC. forged documents
Title defects can be failure to comply with local real estate document laws, discovery of
claims or liens against the property that weren't acknowledged,
In the course of listing the seller's house, the sales associate noticed that minor repairs
were necessary the sales associate suggested that the centers use ABC contractors,
Inc. to handle repairs.ABC forwarded the sales associate a 10% referral fee.which
statement applies?
A. This is common in the industry and therefor legal
B. This is illegal, as the referral fee should have been paid to the broker.
C. This is unethical but legal.
D. This is a violation of real estate license law. - ANSWERSD. This is a violation of real
estate license law.
Referral fees can only be paid to individuals who are licensed either by another state or
foreign country but only if they are unlicensed. Section 8 of RESPA also prohibits
brokers from giving or accepting a fee, kickback, or anything of value in exchange for a
referral.
, An owner of land offers to open a listing to three Florida brokers. The brokers decide to
cooperate on the sale and hold and auction as a means of selling. They retain a
tobacco auctioneer from NC and pay $1,000 plus expenses to auction off the property.
The auction is held, but the owner rejects all offers. Which statement best applies?
A. The auctioneer has violated real estate license law.
B. The brokers may have their licenses suspended.
C. The owner is compelled to sell.
D. Both a and b are correct. - ANSWERSD. Both a and b are correct.
Appraising
Buying
Auctioning
Renting
Selling
Advertising
Leasing
Exchanging
Sandy works as a sales associate for a broker and has been asked to work weekends
for a developer to sell new homes on commission. What must Sandy do to work for the
developer?
A. Transfer her license from the broker to the owner-developer
B. Notify the broker where she can be found on weekends
C. Contact the State and be issues a group license.
D. Contact the state and be issued multiple licenses. - ANSWERSA. Transfer her
license from broker to the owner-developer
How many employers may a sales associate or broker associate have at a time? -
ANSWERSOne registered employer at a time.
What is a group license? - ANSWERSA group license is a single real estate license that
can be obtained if the sales associate or broker associate works for one owner-
developer with affiliated organizations.
What is the term multiple licenses? - ANSWERSA broker can be issued additional
licenses in two or more capacities by requesting multiple. The broker must show it's for
legitimate reasons.
All of the following are exempt from F.S. 475, EXCEPT:
A. Trustee for an estate
B. Personal representatives for an estate
C. Mortgage brokers engaged in financing
Questions with Verified Answers
Where are the rules of the Florida Real Estate Commission Found?
A. F.S. 455
B. F.S. 475
C. F.A.C. 61J2
D. F.A.C. 62Q1
(chapter 3, DBPR) - ANSWERSC. F.A.C 61J2
Which of the following individuals must have a real estate license to perform the action
specified?
A. An attorney at law when performing his or her normal duties
B. An attorney-in-fact when executing conveyances and contracts
C. A salaried apartment manager who leases units for more than 1 year.
D. A mobile home park manager leasing lots in the mobile home park - ANSWERSC. A
salaried employee who leases units for more than 1 year.
They are only exempt if the leases are less than one year.
Title insurance is designed to protect against which of the following?
A. All defects in title
B. Missing documents
C. Forged documents
D. Known defects - ANSWERSC. forged documents
Title defects can be failure to comply with local real estate document laws, discovery of
claims or liens against the property that weren't acknowledged,
In the course of listing the seller's house, the sales associate noticed that minor repairs
were necessary the sales associate suggested that the centers use ABC contractors,
Inc. to handle repairs.ABC forwarded the sales associate a 10% referral fee.which
statement applies?
A. This is common in the industry and therefor legal
B. This is illegal, as the referral fee should have been paid to the broker.
C. This is unethical but legal.
D. This is a violation of real estate license law. - ANSWERSD. This is a violation of real
estate license law.
Referral fees can only be paid to individuals who are licensed either by another state or
foreign country but only if they are unlicensed. Section 8 of RESPA also prohibits
brokers from giving or accepting a fee, kickback, or anything of value in exchange for a
referral.
, An owner of land offers to open a listing to three Florida brokers. The brokers decide to
cooperate on the sale and hold and auction as a means of selling. They retain a
tobacco auctioneer from NC and pay $1,000 plus expenses to auction off the property.
The auction is held, but the owner rejects all offers. Which statement best applies?
A. The auctioneer has violated real estate license law.
B. The brokers may have their licenses suspended.
C. The owner is compelled to sell.
D. Both a and b are correct. - ANSWERSD. Both a and b are correct.
Appraising
Buying
Auctioning
Renting
Selling
Advertising
Leasing
Exchanging
Sandy works as a sales associate for a broker and has been asked to work weekends
for a developer to sell new homes on commission. What must Sandy do to work for the
developer?
A. Transfer her license from the broker to the owner-developer
B. Notify the broker where she can be found on weekends
C. Contact the State and be issues a group license.
D. Contact the state and be issued multiple licenses. - ANSWERSA. Transfer her
license from broker to the owner-developer
How many employers may a sales associate or broker associate have at a time? -
ANSWERSOne registered employer at a time.
What is a group license? - ANSWERSA group license is a single real estate license that
can be obtained if the sales associate or broker associate works for one owner-
developer with affiliated organizations.
What is the term multiple licenses? - ANSWERSA broker can be issued additional
licenses in two or more capacities by requesting multiple. The broker must show it's for
legitimate reasons.
All of the following are exempt from F.S. 475, EXCEPT:
A. Trustee for an estate
B. Personal representatives for an estate
C. Mortgage brokers engaged in financing
