REAL ESTATE TEST 1 EXAM
QUESTIONS & DETAILED CORRECT
ANSWERS
In real estate, property management has become more popular because of - CORRECT ANSWER
the increase in absentee ownership.
A broker in Florida must do all the following EXCEPT - CORRECT ANSWER complete a 2-year real
estate program at a community college.
If after 24 months a sales associate has not completed the requisite post-licensing education,
they can requalify for licensure by - CORRECT ANSWER repeating the pre-licensure class,
passing the end-of-course examination, and passing the state licensure examination.
The primary purpose the first Florida Real Estate Commission formed in 1927 was - CORRECT
ANSWER to protect the public.
Before Esther died, she named her friend JoAnne as her personal representative in her will. To
sell the real estate Esther owned, JoAnne is - CORRECT ANSWER not required to obtain a real
estate license.
Vanessa's license has been involuntarily inactive for 20 months. He has not completed the
Continuing Education courses required to renew his sales associate's license. What must he do
to reactivate his license? - CORRECT ANSWER take a 28-hour reactivation course
Compensation collected in connection with a broker price opinion or comparative market
analysis constitutes a brokerage activity and must be paid to the - CORRECT ANSWER sales
associate's Broker/brokerage.
, Once licensees have completed the post-licensing course required after becoming active as real
estate licensees, they must complete - CORRECT ANSWER at least 14 hours of continuing
education during every 2-year license period for active and inactive licensees.
The legal rights and responsibilities of real estate licensees are established by what law? -
CORRECT ANSWER Florida Statute Chapter 475
Which statement is not true about a transaction broker? - CORRECT ANSWER The transaction
broker does not need to disclose all known facts that materially affect the value of residential
real property and are not readily observable to the buyer.
When there is a transition from single-agent broker to transaction broker, what must the single-
agent broker do? - CORRECT ANSWER provide the client with the form required by statute and
obtain his/her written consent
When a broker employs a licensed real estate sales associate, the sales associate has - CORRECT
ANSWER the same obligations to the broker's clients and customers as the broker.
Which is true about a nonrepresentation or no-brokerage relationship? - CORRECT ANSWER
The broker is not an agent of either the buyer or the seller.
A broker lists a home that she knows would be perfect for her mother. The home is being sold
due to the death of the owner, and the broker knows the owner's heir, who lives in
Pennsylvania, is willing to accept a much lower offer than the home's listed price. The broker
should tell her mother - CORRECT ANSWER nothing, but present to Owner any offer that his
friend wishes to make.
A buyer is a broker's principal. Legally, the sales associates who work for the broker are -
CORRECT ANSWER also legally bound by the broker's agency obligations.
QUESTIONS & DETAILED CORRECT
ANSWERS
In real estate, property management has become more popular because of - CORRECT ANSWER
the increase in absentee ownership.
A broker in Florida must do all the following EXCEPT - CORRECT ANSWER complete a 2-year real
estate program at a community college.
If after 24 months a sales associate has not completed the requisite post-licensing education,
they can requalify for licensure by - CORRECT ANSWER repeating the pre-licensure class,
passing the end-of-course examination, and passing the state licensure examination.
The primary purpose the first Florida Real Estate Commission formed in 1927 was - CORRECT
ANSWER to protect the public.
Before Esther died, she named her friend JoAnne as her personal representative in her will. To
sell the real estate Esther owned, JoAnne is - CORRECT ANSWER not required to obtain a real
estate license.
Vanessa's license has been involuntarily inactive for 20 months. He has not completed the
Continuing Education courses required to renew his sales associate's license. What must he do
to reactivate his license? - CORRECT ANSWER take a 28-hour reactivation course
Compensation collected in connection with a broker price opinion or comparative market
analysis constitutes a brokerage activity and must be paid to the - CORRECT ANSWER sales
associate's Broker/brokerage.
, Once licensees have completed the post-licensing course required after becoming active as real
estate licensees, they must complete - CORRECT ANSWER at least 14 hours of continuing
education during every 2-year license period for active and inactive licensees.
The legal rights and responsibilities of real estate licensees are established by what law? -
CORRECT ANSWER Florida Statute Chapter 475
Which statement is not true about a transaction broker? - CORRECT ANSWER The transaction
broker does not need to disclose all known facts that materially affect the value of residential
real property and are not readily observable to the buyer.
When there is a transition from single-agent broker to transaction broker, what must the single-
agent broker do? - CORRECT ANSWER provide the client with the form required by statute and
obtain his/her written consent
When a broker employs a licensed real estate sales associate, the sales associate has - CORRECT
ANSWER the same obligations to the broker's clients and customers as the broker.
Which is true about a nonrepresentation or no-brokerage relationship? - CORRECT ANSWER
The broker is not an agent of either the buyer or the seller.
A broker lists a home that she knows would be perfect for her mother. The home is being sold
due to the death of the owner, and the broker knows the owner's heir, who lives in
Pennsylvania, is willing to accept a much lower offer than the home's listed price. The broker
should tell her mother - CORRECT ANSWER nothing, but present to Owner any offer that his
friend wishes to make.
A buyer is a broker's principal. Legally, the sales associates who work for the broker are -
CORRECT ANSWER also legally bound by the broker's agency obligations.
