Florida Real Estate Exam 2025
Questions with Accurate Answers
Broker Office Requirements - ANSWERSSign must include the trade name, if used. The
words "Licensed (or Lic.) Real Estate Broker" should be included under the broker's
name as it appears on his license.
Must have a office with with privacy.
Can be in a residential home if zoned for it.
Three federal laws are in place to protect consumers from unwanted solicitations -
ANSWERSDo Not Call Implementation Act of 2003
Junk Fax Prevention Act of 2005
CAN-SPAM Act of 2003
Advertising - ANSWERSLicensees must include their broker's firm name on all
advertising materials, which includes things like business cards, stationery, flyers,
brochures, and websites. When the licensee's name is included, the last name must be
used as it's registered with the commission. Team names are permitted if all team
members are supervised by the same broker, and the team name does not contain
language to imply it's a separate brokerage or company.
Escrow Funds - ANSWERSMust be deposited immediately. Sales associates and
broker associates must deliver escrow funds no later than the END OF THE NEXT
BUSINESS DAY day to their broker/employer, and brokers must deposit the funds in
escrow by the THIRD business day following receipt, unless the parties agree otherwise
in writing. A business or banking day does not include a legal holidays or the weekend.
Sherman Act of 1890 - ANSWERSFederal statute which prohibits activities that restrict
interstate commerce and competition in the marketplace
Federal Trade Commission Act (1914) - ANSWERSPrevent unfair methods of
competition.
According to the FTC, fines can be as high as $100 million for a corporation or $1
million for an individual and may include prison terms of up to 10 years.
Clayton Antitrust Act (1914) - ANSWERSdefines unethical business practices, such as
price fixing and monopolies, and upholds various rights of labor.
Market Allocation - ANSWERSAntitrust violation that occurs when competitors illegally
segment the market to discourage competition and control market segments.
Lein Types - ANSWERSVoluntary lien: An individual agrees to have a security placed
against himself or his property.
, Involuntary lien: A creditor places a claim on real or personal property through legal
means without the owner's consent in order to collect an unpaid debt.
Specific lien: A lien against a single property.
General lien: A claim against an individual and all of his property.
Leins - ANSWERSIn ALL states, the government gets paid first.
Assessments and real property tax liens take priority over all other liens.
Next in line are mechanic's liens, then all others in order of recording.
Judgment liens have priority based on the date of recording.
Real Estate Settlement and Procedures Act (RESPA) - ANSWERSfederal law
administered and enforced by the Consumer Financial Protection Bureau (CFPB) to
prevent the payment of kickbacks and other fees, which drive up costs to consumers.
Kickback - ANSWERSA kickback is anything of value, regardless of the amount, that an
individual or company provides to a real estate professional in exchange for referring
business.
Change of Employer - ANSWERSFor a change of broker or employer, a licensee's
status must first be deactivated with one qualifying broker then must be activated with
another qualifying broker.
Sole Proprietorship - ANSWERSSole proprietorship is the simplest business type. It
doesn't afford personal protection to the owner but does offer complete control over the
business. The owner operates under his own name or acquires a DBA (doing business
as) to operate under a trade name and bears sole responsibility for the risks and
rewards of doing business.
Depositing Escrow Funds - ANSWERSSales Accociate- End of next Business Day.
Broker-third business day following receipt.
How long do prospective tenants have to request a refund after purchasing a rental list?
- ANSWERS30 Days
Rentals List Requirement - ANSWERSMust include refund and language
Advertising Name - Cannot Use actual Name - ANSWERSThe actual name of the
individual is not a trade name; therefore he can't register Sirius Shepard Realty.
CAN-SPAM Act of 2003 - ANSWERSEmails
FREC Membership Requirements - ANSWERSFREC Membership
4 -Must be active brokers licensed for at least 5 years.
1- member is an active sales associate or broker licensed for at least two years.
Questions with Accurate Answers
Broker Office Requirements - ANSWERSSign must include the trade name, if used. The
words "Licensed (or Lic.) Real Estate Broker" should be included under the broker's
name as it appears on his license.
Must have a office with with privacy.
Can be in a residential home if zoned for it.
Three federal laws are in place to protect consumers from unwanted solicitations -
ANSWERSDo Not Call Implementation Act of 2003
Junk Fax Prevention Act of 2005
CAN-SPAM Act of 2003
Advertising - ANSWERSLicensees must include their broker's firm name on all
advertising materials, which includes things like business cards, stationery, flyers,
brochures, and websites. When the licensee's name is included, the last name must be
used as it's registered with the commission. Team names are permitted if all team
members are supervised by the same broker, and the team name does not contain
language to imply it's a separate brokerage or company.
Escrow Funds - ANSWERSMust be deposited immediately. Sales associates and
broker associates must deliver escrow funds no later than the END OF THE NEXT
BUSINESS DAY day to their broker/employer, and brokers must deposit the funds in
escrow by the THIRD business day following receipt, unless the parties agree otherwise
in writing. A business or banking day does not include a legal holidays or the weekend.
Sherman Act of 1890 - ANSWERSFederal statute which prohibits activities that restrict
interstate commerce and competition in the marketplace
Federal Trade Commission Act (1914) - ANSWERSPrevent unfair methods of
competition.
According to the FTC, fines can be as high as $100 million for a corporation or $1
million for an individual and may include prison terms of up to 10 years.
Clayton Antitrust Act (1914) - ANSWERSdefines unethical business practices, such as
price fixing and monopolies, and upholds various rights of labor.
Market Allocation - ANSWERSAntitrust violation that occurs when competitors illegally
segment the market to discourage competition and control market segments.
Lein Types - ANSWERSVoluntary lien: An individual agrees to have a security placed
against himself or his property.
, Involuntary lien: A creditor places a claim on real or personal property through legal
means without the owner's consent in order to collect an unpaid debt.
Specific lien: A lien against a single property.
General lien: A claim against an individual and all of his property.
Leins - ANSWERSIn ALL states, the government gets paid first.
Assessments and real property tax liens take priority over all other liens.
Next in line are mechanic's liens, then all others in order of recording.
Judgment liens have priority based on the date of recording.
Real Estate Settlement and Procedures Act (RESPA) - ANSWERSfederal law
administered and enforced by the Consumer Financial Protection Bureau (CFPB) to
prevent the payment of kickbacks and other fees, which drive up costs to consumers.
Kickback - ANSWERSA kickback is anything of value, regardless of the amount, that an
individual or company provides to a real estate professional in exchange for referring
business.
Change of Employer - ANSWERSFor a change of broker or employer, a licensee's
status must first be deactivated with one qualifying broker then must be activated with
another qualifying broker.
Sole Proprietorship - ANSWERSSole proprietorship is the simplest business type. It
doesn't afford personal protection to the owner but does offer complete control over the
business. The owner operates under his own name or acquires a DBA (doing business
as) to operate under a trade name and bears sole responsibility for the risks and
rewards of doing business.
Depositing Escrow Funds - ANSWERSSales Accociate- End of next Business Day.
Broker-third business day following receipt.
How long do prospective tenants have to request a refund after purchasing a rental list?
- ANSWERS30 Days
Rentals List Requirement - ANSWERSMust include refund and language
Advertising Name - Cannot Use actual Name - ANSWERSThe actual name of the
individual is not a trade name; therefore he can't register Sirius Shepard Realty.
CAN-SPAM Act of 2003 - ANSWERSEmails
FREC Membership Requirements - ANSWERSFREC Membership
4 -Must be active brokers licensed for at least 5 years.
1- member is an active sales associate or broker licensed for at least two years.
