45 HOUR POST LICENSE FINAL EXAM
C
UPDATED ACTUAL EXAM QUESTIONS
AND CORRECT ANSWERS
If an appraisal falls short of the needed value to close the deal, one of four outcomes would result.
Which one of the following is NOT one of those 4? - Correct answer.The seller would raise the selling
price in order to make up for the shortfall.
Which of the following steps would not be common to complete a mail away closing? - Correct
answer.the agent would sign on the absent persons behalf
Your buyers' lender tells you that your buyer will qualify for a loan up to $359,000. The lender advised
you that this was based on the house not located in a flood zone and no more than $150 a month in
HOA fees. The buyer was searching online and found a house located in a popular neighborhood. When
you pull the listing information you discover that the house is only $336,000 but is in a Flood Zone "A"
and HOA fees are $300 a month. Which is the best course of action to take? - Correct answer.Contact
the buyer's lender to review the information about the property and schedule a showing to coincide
immediately after the expected response time from the lender.
What is the formula to calculate how many leads are needed to generate clients? - Correct
answer.Clients Required ÷ Lead Conversion %
Stacey hired a real estate licensee to advertise a home for sale in the MLS and to handle the contract.
However, the seller planned to handle their own showings and open houses and did not want to pay the
agent for those services. Which type of listing agreement would be appropriate? - Correct
answer.Limited listing agreement
Asking a client: "What's the one thing that is keeping you from moving forward?" is an example of ___. -
Correct answer.isolate the objection
, You are working with Alana, a buyer, that wants to purchase a resale condo anywhere on Longboat Key.
She has narrowed it down to 2 units in different condo developments. As the buyer's agent, you should
make sure she gets ____ within 3 days for whichever condo she enters into a contract. - Correct
answer.Most recent year-end financial report, Governance form
A buyer received a clear to close from his lender. Which of the following would NOT still need to be
completed? - Correct answer.earnest money deposit
Per the statute - when a condominium is sold or re-sold, specific documents must be provided from the
seller to the buyer. The seller of new condo's must provide the buyer with 5-6 different required
documents. Re-seller must provide the buyer with 7 different required documents. Which of the
following is only required on new condominium sales? - Correct answer.Estimated Operating Budget
You are working with buyers, Tina and Jeff. You explain to them you will provided them a list of up to 20
houses that most closely match their wants and needs. They need to narrow the list down to the top 6.
You tell them you will show them 6 different houses. If they buy one of those 6 you will give them $600
out of your commission. Under RESPA and TILA this is ___. - Correct answer.Okay, if handled correctly
and disclosed to all parties.
Real estate agent Belle was arrested for theft while in California. Which of the following is true regarding
the situation? - Correct answer.Agent Belle would have up to 30 days to report the violation to the
DBPR.
A couple is in town on a "buying" trip. You pick out homes listed in the multiple listing service based on a
needs assessment and spend the weekend showing them houses. One home is of interest to them, yet
they leave town without making an offer. You agree to send them other options by email. The next day
they call and ask you to find answers they now have regarding the home they had seen and favored.
Upon contacting the listing agent, the agent informs you that another real estate agent has contacted
her for the same buyers. However, that agent has not actually shown them the house. If the buyers
purchase the home using the other agent, what is the likely outcome? - Correct answer.Your broker
would pursue payment from the listing broker siting procuring cause.
Agent Cinderella just got her real estate license but wasn't ready to start working as an agent yet. Which
of the following should she not do? - Correct answer.Don't worry about the 45-hour post-license course
until she starts working.
C
UPDATED ACTUAL EXAM QUESTIONS
AND CORRECT ANSWERS
If an appraisal falls short of the needed value to close the deal, one of four outcomes would result.
Which one of the following is NOT one of those 4? - Correct answer.The seller would raise the selling
price in order to make up for the shortfall.
Which of the following steps would not be common to complete a mail away closing? - Correct
answer.the agent would sign on the absent persons behalf
Your buyers' lender tells you that your buyer will qualify for a loan up to $359,000. The lender advised
you that this was based on the house not located in a flood zone and no more than $150 a month in
HOA fees. The buyer was searching online and found a house located in a popular neighborhood. When
you pull the listing information you discover that the house is only $336,000 but is in a Flood Zone "A"
and HOA fees are $300 a month. Which is the best course of action to take? - Correct answer.Contact
the buyer's lender to review the information about the property and schedule a showing to coincide
immediately after the expected response time from the lender.
What is the formula to calculate how many leads are needed to generate clients? - Correct
answer.Clients Required ÷ Lead Conversion %
Stacey hired a real estate licensee to advertise a home for sale in the MLS and to handle the contract.
However, the seller planned to handle their own showings and open houses and did not want to pay the
agent for those services. Which type of listing agreement would be appropriate? - Correct
answer.Limited listing agreement
Asking a client: "What's the one thing that is keeping you from moving forward?" is an example of ___. -
Correct answer.isolate the objection
, You are working with Alana, a buyer, that wants to purchase a resale condo anywhere on Longboat Key.
She has narrowed it down to 2 units in different condo developments. As the buyer's agent, you should
make sure she gets ____ within 3 days for whichever condo she enters into a contract. - Correct
answer.Most recent year-end financial report, Governance form
A buyer received a clear to close from his lender. Which of the following would NOT still need to be
completed? - Correct answer.earnest money deposit
Per the statute - when a condominium is sold or re-sold, specific documents must be provided from the
seller to the buyer. The seller of new condo's must provide the buyer with 5-6 different required
documents. Re-seller must provide the buyer with 7 different required documents. Which of the
following is only required on new condominium sales? - Correct answer.Estimated Operating Budget
You are working with buyers, Tina and Jeff. You explain to them you will provided them a list of up to 20
houses that most closely match their wants and needs. They need to narrow the list down to the top 6.
You tell them you will show them 6 different houses. If they buy one of those 6 you will give them $600
out of your commission. Under RESPA and TILA this is ___. - Correct answer.Okay, if handled correctly
and disclosed to all parties.
Real estate agent Belle was arrested for theft while in California. Which of the following is true regarding
the situation? - Correct answer.Agent Belle would have up to 30 days to report the violation to the
DBPR.
A couple is in town on a "buying" trip. You pick out homes listed in the multiple listing service based on a
needs assessment and spend the weekend showing them houses. One home is of interest to them, yet
they leave town without making an offer. You agree to send them other options by email. The next day
they call and ask you to find answers they now have regarding the home they had seen and favored.
Upon contacting the listing agent, the agent informs you that another real estate agent has contacted
her for the same buyers. However, that agent has not actually shown them the house. If the buyers
purchase the home using the other agent, what is the likely outcome? - Correct answer.Your broker
would pursue payment from the listing broker siting procuring cause.
Agent Cinderella just got her real estate license but wasn't ready to start working as an agent yet. Which
of the following should she not do? - Correct answer.Don't worry about the 45-hour post-license course
until she starts working.
