FL Real Estate Exam Practice
Questions
Which statement is true regarding the use of the term REALTOR?
All real estate licensees are REALTORS
All REALTORS are members of the National Association of REALTORS (NAR)
The terms real estate licensee and REALTOR may be used interchangeably
The Florida DBPR authorizes the use of the term REALTOR - Answer-All REALTORS are members of the
National Association of REALTORS (NAR)
The term follow up refers to...? - Answer-what a sales associate does for buyers and sellers after the sale
Even though certain exceptions apply, an active real estate licensee is legally entitled to appraise real
property for compensation concerning a nonfederally related transaction - Answer-As long as she does
not represent herself as a state-certified or licensed appraiser and complies with USPAP
The field of property management has experienced growth and specialization primarily because of...? -
Answer-the increase in the number of absentee owners
Real estate licensees must comply with the Uniform Standards of Professional Appraisal Practice
(USPAP) when conducting which value estimates? - Answer-Appraisals
Appraisers are paid a fee because - Answer-to accept compensation based on the appraised value is a
conflict of interest
The five major sales specialties do NOT include
,agricultural
special use
commercial
businesses - Answer-Special use
The real estate activity that is devoted to leasing, managing, marketing, and overall maintenance of
property for others is called - Answer-Property management
Which kind of construction involves building to buyer's specifications? - Answer-Custom homes
The term dedication as it applies to development and construction refers to...? - Answer-A gift of land by
the owner to the local government for public use
What type of license is required to sell or lease business opportunities for another person? - Answer-
Real estate license
Selecting a limited geographical area in which a real estate professional develops special expertise is -
Answer-Farming
Managing which type of property of more than 10 units requires a CAM license? - Answer-Condominium
complex
Effective advertising involving developing a database of prospects to direct a specific message is called -
Answer-Target marketing
A broker charges a prospective seller $50 for a comparative market analysis (CMA) . Which statement
applies?
, Brokers are not permitted to charge for CMAs
This is permissible, provided the broker does not represent the CMA as an appraisal
The broker must be a state-certified appraiser to do this
The CMA must be signed by a state-certified appraiser - Answer-This is permissible, provided the broker
does not represent the CMA as an appraisal
A licensed sales associate may operate - Answer-For the broker registered as the sales associate's
employer
A sales associate applicant is NOT required to comply with which requirement?
Subject to an application fee
Be 18 years or older
Be a bona fide Florida resident
Possess a Social Security number - Answer-Be a bona fide Florida resident
Which person does not meet the experience requirements to obtain a Florida broker's license?
An applicant who has held an active CA broker's license for the preceding 3 years
An applicant who has held an active Ohio sales associate license during 4 of the preceding 5 years while
employed by an Ohio broker
An applicant who has held an active FL sales associate license for the preceding 2 years while employed
by a FL broker
An applicant who has held an active FL sales associate license during 2 of the preceding 5 years while
employed by an owner-developer - Answer-An applicant who has held an active FL sales associate
license during 2 of the preceding 5 years while being employed by an owner-developer
What information appears on the face of a real estate license?
Questions
Which statement is true regarding the use of the term REALTOR?
All real estate licensees are REALTORS
All REALTORS are members of the National Association of REALTORS (NAR)
The terms real estate licensee and REALTOR may be used interchangeably
The Florida DBPR authorizes the use of the term REALTOR - Answer-All REALTORS are members of the
National Association of REALTORS (NAR)
The term follow up refers to...? - Answer-what a sales associate does for buyers and sellers after the sale
Even though certain exceptions apply, an active real estate licensee is legally entitled to appraise real
property for compensation concerning a nonfederally related transaction - Answer-As long as she does
not represent herself as a state-certified or licensed appraiser and complies with USPAP
The field of property management has experienced growth and specialization primarily because of...? -
Answer-the increase in the number of absentee owners
Real estate licensees must comply with the Uniform Standards of Professional Appraisal Practice
(USPAP) when conducting which value estimates? - Answer-Appraisals
Appraisers are paid a fee because - Answer-to accept compensation based on the appraised value is a
conflict of interest
The five major sales specialties do NOT include
,agricultural
special use
commercial
businesses - Answer-Special use
The real estate activity that is devoted to leasing, managing, marketing, and overall maintenance of
property for others is called - Answer-Property management
Which kind of construction involves building to buyer's specifications? - Answer-Custom homes
The term dedication as it applies to development and construction refers to...? - Answer-A gift of land by
the owner to the local government for public use
What type of license is required to sell or lease business opportunities for another person? - Answer-
Real estate license
Selecting a limited geographical area in which a real estate professional develops special expertise is -
Answer-Farming
Managing which type of property of more than 10 units requires a CAM license? - Answer-Condominium
complex
Effective advertising involving developing a database of prospects to direct a specific message is called -
Answer-Target marketing
A broker charges a prospective seller $50 for a comparative market analysis (CMA) . Which statement
applies?
, Brokers are not permitted to charge for CMAs
This is permissible, provided the broker does not represent the CMA as an appraisal
The broker must be a state-certified appraiser to do this
The CMA must be signed by a state-certified appraiser - Answer-This is permissible, provided the broker
does not represent the CMA as an appraisal
A licensed sales associate may operate - Answer-For the broker registered as the sales associate's
employer
A sales associate applicant is NOT required to comply with which requirement?
Subject to an application fee
Be 18 years or older
Be a bona fide Florida resident
Possess a Social Security number - Answer-Be a bona fide Florida resident
Which person does not meet the experience requirements to obtain a Florida broker's license?
An applicant who has held an active CA broker's license for the preceding 3 years
An applicant who has held an active Ohio sales associate license during 4 of the preceding 5 years while
employed by an Ohio broker
An applicant who has held an active FL sales associate license for the preceding 2 years while employed
by a FL broker
An applicant who has held an active FL sales associate license during 2 of the preceding 5 years while
employed by an owner-developer - Answer-An applicant who has held an active FL sales associate
license during 2 of the preceding 5 years while being employed by an owner-developer
What information appears on the face of a real estate license?
