Florida real estate EXAM A+ GRADE ASSURED COMPLETE SOLUTIONS AND VERIFIED ANSWERS

REAL ESTATE LICENSING
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Exam Solution ms




FL Real Estate Exam Magnolia School all terms 2026 A+
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GRADE ASSURED COMPLETE SOLUTIONS AND VERIFIE
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D ANSWERS (88D5E)
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QUESTION 1 ms




What is leverage? ms ms




ANSWER

Use of borrowed funds to purchase assets or to finance an investment
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QUESTION 2 ms




How is the binder deposit notated on the closing disclosure?
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ANSWER

Credit buyer - BDCB ms ms ms




QUESTION 3 ms




What is the status of a sales associates license but they do not complete the required
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post licensing education prior to their first renewal cycle
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ANSWER

Null and void
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QUESTION 4 ms




How many sections are in a Township?
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ANSWER

36 (square miles)
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,QUESTION 5 ms




Which mortgage clause allows the mortgagee the right to demand the outstanding loa
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n balance plus secured interest in the event that the borrower sells or transfers any i
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nterest in the property without the lenders prior written consent
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ANSWER

Due on sale clause
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QUESTION 6 ms




What requirement is not apply regarding dwellings built prior to 1978
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ANSWER

Buyers must have the property inspected for lead-based paint
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QUESTION 7 ms




Two close friends on a daycare center as joint tenants with the right of Survivorship.
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One owner passed away, who owns the daycare center?
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ANSWER

Surviving owner becomes soul owner of the daycare center by operation of law
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QUESTION 8 ms




The subject property is a three-bedroom, two-
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bath home. A comparable property is a three-bedroom, two and one-half-
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bath home. An appraiser has determined that the extra half bath is worth about $2,20
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0. What adjustment should the appraiser make?
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ANSWER

Subtract $2200 from the comparable
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QUESTION 9 ms




Which of the following is incorrect concerning FHA and VA mortgages?
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ANSWER

VA is the government insured loan and could be accompanied by an origination fee
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QUESTION 10 ms

,FHA (Federal Housing Administration) mortgage
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ANSWER

Government insured loan Origination feems ms ms ms




QUESTION 11 ms




VA (Veterans Affairs) mortgage
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ANSWER

Government guaranteed loan Funding fee Origination fee
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QUESTION 12 ms




What lien takes priority first and second?
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ANSWER

Property Tax, Special Assessment
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QUESTION 13 ms




Intangible tax is noted on the closing disclosure as
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ANSWER

Debit to the buyer
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QUESTION 14 ms




What is a blind ad?
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ANSWER

Doesn't list the realty company or brokerage
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QUESTION 15 ms




Which of the following is a penalty for first time minor violation that is not accompan
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ied by a fine?
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ANSWER

Notice of noncompliance
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QUESTION 16 ms

, Nonlicensed assistants may perform which activity? ms ms ms ms ms




ANSWER

Handout objective written information on a rental property
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QUESTION 17 ms




Two brothers have decided to purchase investment property in or not sure how they
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want to take title. The brothers wives have looked into the options and have decided
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that in the event that one of the brothers die, his wife would like to receive title. With
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his information how would they take title?
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ANSWER

Tenancy in Common ms ms




QUESTION 18 ms




A father intended to leave his house to a son and executed a general warranty deed t
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o the property and gave it to her son. Shortly after, the father died, before the deed c
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ould be recorded. Which applies?
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ANSWER

This one has title to the property because title to the property was conveyed when the father delive
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red the deed to his son and his son voluntarily excepted it
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QUESTION 19 ms




Which of the following clauses or covenants in a deed states that the grantor owns th
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e property and has the right to convey it?
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ANSWER

Covenant of seisin (own it and have right to sell it)
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QUESTION 20 ms




Amy, Bob, Frank, and Francine all co-
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own of Beach House on St. Petersburg Beach. Frank died, and his co-
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ownership of the property passed, according to his will, to his son. How do these parti
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es own the property?
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ANSWER

Tenants in common ms ms