FLORIDA REAL ESTATE BROKER EXAM TEST
QUESTION EXAM AND VERIFIED DETAILED
ANSWERS RATED A+ GRADED
How long do you have to report your home or office change your address with DBPR?
10 days or out of state 60 days
What is the fine of not reporting your address change within 10 days?
$500
Business Brokers
Specialized brokers that bring together buyers and sellers of businesses.
Who is Exempt from a real estate license?
Property Owners, salaried employees or owners of business, cemetery lots, mobile homes on rental
property, power of attorney or court appointed person.
What is the most a rental referral pay?
$50
,Sole Proprietorship
a business owned and managed by a single individual.
Limited Liability Company (LLC) With LLC it protects you from liability for?
Contracts, errors and omissions, negligence, malpractice, or wrongful acts committed by a partner or
employee.
True or false. At least one of the officers or directors must be a licensed as an active broker.
True
How many stockholders are allowed in an S Corp?
No more than 100
Corporation sole
Church/Religious organizations
May not register as a Real Estate Brokerage Corporation.
joint venture
an agreement between two or more companies to share a business project.
, Cooperative Association
permitted to conduct commercial business and to convey, sell, or buy its own property but it cannot be
registered as a real estate broker.
Temporary Shelters
Temporary shelter in a subdivision being sold by a broker is not a branch office. No checks can be
accepted or business be done. If so, it will need to be licensed.
What needs to be on the front door of the office?
Trade Name
Broker's Name
"Licensed Real Estate Broker"
True or False. All advertising must be in the name of the brokerage and under the supervision of the
broker.
True
Can a licensee use the word Realtor if they are not a member of the association?
No. Could be a $300 fine.
If real estate agent charges for rental list it must be accurate. If not, they have to refund 100%. If the
tenant does not find a rental they are required to refund what?
QUESTION EXAM AND VERIFIED DETAILED
ANSWERS RATED A+ GRADED
How long do you have to report your home or office change your address with DBPR?
10 days or out of state 60 days
What is the fine of not reporting your address change within 10 days?
$500
Business Brokers
Specialized brokers that bring together buyers and sellers of businesses.
Who is Exempt from a real estate license?
Property Owners, salaried employees or owners of business, cemetery lots, mobile homes on rental
property, power of attorney or court appointed person.
What is the most a rental referral pay?
$50
,Sole Proprietorship
a business owned and managed by a single individual.
Limited Liability Company (LLC) With LLC it protects you from liability for?
Contracts, errors and omissions, negligence, malpractice, or wrongful acts committed by a partner or
employee.
True or false. At least one of the officers or directors must be a licensed as an active broker.
True
How many stockholders are allowed in an S Corp?
No more than 100
Corporation sole
Church/Religious organizations
May not register as a Real Estate Brokerage Corporation.
joint venture
an agreement between two or more companies to share a business project.
, Cooperative Association
permitted to conduct commercial business and to convey, sell, or buy its own property but it cannot be
registered as a real estate broker.
Temporary Shelters
Temporary shelter in a subdivision being sold by a broker is not a branch office. No checks can be
accepted or business be done. If so, it will need to be licensed.
What needs to be on the front door of the office?
Trade Name
Broker's Name
"Licensed Real Estate Broker"
True or False. All advertising must be in the name of the brokerage and under the supervision of the
broker.
True
Can a licensee use the word Realtor if they are not a member of the association?
No. Could be a $300 fine.
If real estate agent charges for rental list it must be accurate. If not, they have to refund 100%. If the
tenant does not find a rental they are required to refund what?
