Gold Coast Real Estate 2025 / Gold Coast
Real Estate Final Exam 2025
What is the term when a real estate agent specializes in one geographic area? - --
-✔✔✔ANSWER----Farming
A residential transaction is defined as: - ---✔✔✔ANSWER----Four units or
less
What 3 areas do real estate agents have to have expertise in? - ---
✔✔✔ANSWER----Marketing, Valuation, Property Transfer
Owners who buy income property as investments and depend on professionals to
manage them are called: - ---✔✔✔ANSWER----Absentee Owners
,What is the process of developing an opinion of value of real property? - ---
✔✔✔ANSWER----Appraising
Transfer of ownership is called: - ---✔✔✔ANSWER----Dedication
What is custom building? - ---✔✔✔ANSWER----When a contractor is
employed to build a structure according to the customer's specifications
What is speculative building? - ---✔✔✔ANSWER----When a contractor
builds a structure before securing a buyer with the hope of selling the finished
structure. (AKA building on spec)
What is tract building? - ---✔✔✔ANSWER----When a developer acquires a
large tract of land, records a subdivision plat map, and uses a model center from
which sales may be made.
What is the purpose of FREC? - ---✔✔✔ANSWER----To protect the public
What does "Commission" refer to? - ---✔✔✔ANSWER----Florida Real
Estate Commission (FREC)
,What does "Department" refer to? - ---✔✔✔ANSWER----Department of
Business and Professional Regulation (DBPR)
Real estate professionals practice real estate when licensed as one of the
following: - ---✔✔✔ANSWER----Sales associate, broker, or broker
associate
How do you become eligible to become a broker? - ---✔✔✔ANSWER----A
licensed sales associate must be employed under one or more actively licensed
brokers for at least 24 months within the preceding five years.
What is a broker associate? - ---✔✔✔ANSWER----Is a licensed broker who
chooses to work as a sales associate under the direction of another broker.
Is an applicant for a Florida real estate license required to be a resident of Florida?
- ---✔✔✔ANSWER----No
Is an applicant for a Florida real estate license required to be a citizen of the
United States? - ---✔✔✔ANSWER----No
For the application with the DBPR, are you required to disclose any criminal
convictions? Even misdemeanors? - ---✔✔✔ANSWER----Yes
, When an applicant is denied, how many days do they have to request a formal
hearing after being informed by the DBPR? - ---✔✔✔ANSWER----21 days
Who compensates real estate agents? - ---✔✔✔ANSWER----By their
employing brokers or owner-developer
Owner-developers are only...? - ---✔✔✔ANSWER----Registered, not
licensed
What happens to your real estate license if you fail to complete the 45-hour post
license course? - ---✔✔✔ANSWER----It becomes void
What happens to your real estate license if you fail to complete the 14-hour
continuing education course? - ---✔✔✔ANSWER----It becomes
involuntary inactive
...are persons who are granted authority under power of attorney to act for others
in some capacity, such as signing documents. - ---✔✔✔ANSWER----
Attorneys-in-fact
The DBPR is responsible for: - ---✔✔✔ANSWER----Licensing and
regulation of the real estate professional.
Real Estate Final Exam 2025
What is the term when a real estate agent specializes in one geographic area? - --
-✔✔✔ANSWER----Farming
A residential transaction is defined as: - ---✔✔✔ANSWER----Four units or
less
What 3 areas do real estate agents have to have expertise in? - ---
✔✔✔ANSWER----Marketing, Valuation, Property Transfer
Owners who buy income property as investments and depend on professionals to
manage them are called: - ---✔✔✔ANSWER----Absentee Owners
,What is the process of developing an opinion of value of real property? - ---
✔✔✔ANSWER----Appraising
Transfer of ownership is called: - ---✔✔✔ANSWER----Dedication
What is custom building? - ---✔✔✔ANSWER----When a contractor is
employed to build a structure according to the customer's specifications
What is speculative building? - ---✔✔✔ANSWER----When a contractor
builds a structure before securing a buyer with the hope of selling the finished
structure. (AKA building on spec)
What is tract building? - ---✔✔✔ANSWER----When a developer acquires a
large tract of land, records a subdivision plat map, and uses a model center from
which sales may be made.
What is the purpose of FREC? - ---✔✔✔ANSWER----To protect the public
What does "Commission" refer to? - ---✔✔✔ANSWER----Florida Real
Estate Commission (FREC)
,What does "Department" refer to? - ---✔✔✔ANSWER----Department of
Business and Professional Regulation (DBPR)
Real estate professionals practice real estate when licensed as one of the
following: - ---✔✔✔ANSWER----Sales associate, broker, or broker
associate
How do you become eligible to become a broker? - ---✔✔✔ANSWER----A
licensed sales associate must be employed under one or more actively licensed
brokers for at least 24 months within the preceding five years.
What is a broker associate? - ---✔✔✔ANSWER----Is a licensed broker who
chooses to work as a sales associate under the direction of another broker.
Is an applicant for a Florida real estate license required to be a resident of Florida?
- ---✔✔✔ANSWER----No
Is an applicant for a Florida real estate license required to be a citizen of the
United States? - ---✔✔✔ANSWER----No
For the application with the DBPR, are you required to disclose any criminal
convictions? Even misdemeanors? - ---✔✔✔ANSWER----Yes
, When an applicant is denied, how many days do they have to request a formal
hearing after being informed by the DBPR? - ---✔✔✔ANSWER----21 days
Who compensates real estate agents? - ---✔✔✔ANSWER----By their
employing brokers or owner-developer
Owner-developers are only...? - ---✔✔✔ANSWER----Registered, not
licensed
What happens to your real estate license if you fail to complete the 45-hour post
license course? - ---✔✔✔ANSWER----It becomes void
What happens to your real estate license if you fail to complete the 14-hour
continuing education course? - ---✔✔✔ANSWER----It becomes
involuntary inactive
...are persons who are granted authority under power of attorney to act for others
in some capacity, such as signing documents. - ---✔✔✔ANSWER----
Attorneys-in-fact
The DBPR is responsible for: - ---✔✔✔ANSWER----Licensing and
regulation of the real estate professional.
